Doujsign Envelots ID.. 7EE84A1C-92CF4F6&A2DE-0492953A2205 CHARrrY REGISTRATION NUMBER: 1118086 FRIENDS OF YESHtVA LUZERN UNAUDITED FINANCIAL STATEMENTS FOR THI YEAR ENI)ED 31 MARCH 2025 COHEIY ARNOLD Chartered accountants New Burlington House 1075 Finchley Road London NWII OPU
DouJsign Envelope ID.. 7EEB4A1C.92CF4F6>A2DE.0492953A2205 FRIENDS OF YESHIVA LUZERN FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 PAGES Trustees, annual report Ito2 Independent examinerfs report to the trustees Statement of fu1claI activities Statement of fllwicial position Notes to the fllwicial statements 6toll
Docusign Envelope ID: 7EEB4A1C-92CF4F6>A2DE4)492953A2205 FRIENDS OF YESHIVA LUZERN TRUSTEES, ANNUAL REPORT YEARENDED 31 MARCH 2025 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2025. REFEREIYCE AIID ADMINISTRATtVE DETAILS Friends of Yeshiva Luzern Registered cbarity name Charity registration number Principal office 1118086 112 Osbaldeston Road London N16 6NJ The trustees Mr M Kernkraut Mr S Seidenfeld Mr J Frankel INDEPENDENT EXAMINER J A Neumann FCA Cohen Arnold New Burlington House 1075 Finchley Road London NWII OPU STRUCTURE, GOVERNANCE AND MANAGE1NT The charity is governed by a Declaration of Trust. The trustees administer the day-to-day affairs of the charity. None of the trnstees have any beneficial interest in the charity. It is not currently the intention of the trustees of the charity to appoint new trustees. Should the situation change in the future, the trustees will apply suitable recruitment training procedures. Risk management The trustees have identified and reviewed the major risks to which the charity is exposed, in particular those related to the operations and finance of the charity, and are satisfied that systems are in place to manage those risks.
Docusign Envelop8 ID.. 7EEB4A1C-92CF4F63-A2DE-0492953A2205 FRIENDS OF YESHIVA LUZERN TRUSTEES, ANNUAL REPORT (eontlnued) YEAR ENDED 31 MARCH 2025 OBJECTIVES AND AcTITIEs The charity is established to further those purposes both in the United Kingdom and abroad recognised as charitable by English Law. The trustees have continued to favour supporting the activities of the Yeshiva Luzern which relocated to the United Kingdom. In addition, the charity utilises part of its income to make grants and donations. The charity receives income from voluntary donations. The trustees confinn that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and activities and setting the grant making policy for the year. Grant making policy Grants are made to charitable institutions and organisations which accord with the objects of the charity. and are considered based on the level of funds available. ACHtEVEMENTS AND PERFORMANCE During the year the charity continued its activities to support the Yeshiva. Total incoming resources were £417,970. Expenditure on direct charitable activities totalled £465,5 88. FINANCIAL REVIEW The financial position of the Charity is satisfactory. As at 31 March 2025 the charity had reserves of £384,988 (2024: £432,606). The financial results of the charity's activities for the year to 31 March 2025 are fully reflected in the attached Financial Statements together with the notes thereon. Reserves policy It is the policy of the charity to maintain unrestricted funds, which include the free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely costs of the charity for the next year. The trustees have not undertaken any forn)al charitable commitments. They consider that the charity can rely on its ongoing support from its supporters wiiliin ihe wider com muiiity to fund its oiigoing activities. The trustees, aiinual report was approved on 30/1/2026 aiid signed on behalf of the board of trustees by: signed by.. 3A9AA7J2BEOD4DS.. Mr M Kernkraut Trustee
FRIENDS OF YESHIVA LUZERN INDEPENDENT E4 XAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF YESHIVA LUZERN YEAR ENDED 31 MARCH 2025 I report to the trustees oil my exalninatioii of the financial stateinents of Frieiids of Yeshiva Liizerii ('the charity,) for the year ended 31 March 2025. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of the charity you are responsible for the preparation of ili¢ finai)cial stateinents iii accordance with the requireN)ents of the Charities Act 2011 ('tl)e Act,). I report in respect of my exainination of the cliarity's fjnancial stateinents cari'ied out uiider Scctioii 145 of tlie 2011 Act and in cai-iying out niy examination J have followed all Ilie applicable DiiECtioiis given by die Cliarity Commission under section 145(5)(b) of tlie Act. INDEPENDENT ExANER's STATEMENT Siiice the cliarity's gross iiicoine exceeded £250,000 your examiiier Iniisl be a meiiibei. of a body lisied iii sectioii l45 of tlie 2011 ALt. l Confirni tliat l am qualifi¢d to uiidei'take Ilie exaiiii111L tioii becaiise I ain a Inembei. of the Iiistitute of Chartei-ed Accouiitants in Englaiid and Wales (ICAEW), wliicli is oiie of tlie listed bodies. I have completed iny examination. I confm that no inaterial matter5 liave come to Iny atteiitioii iii connection with the examination giving me cause to believe that in any Inaterial respect: accounting reGord5 were not kept in respect of the charity as i.cqu ired by section 130 of tlie the fjnancial statements do not accord witli tl)ose records- or the financial statements do not comply wlth the applicable reqLiireineiits concerniiig the fonn and content of accounts set out in the Charities (Accoiiiits aiid Repoils) Rcgulations 2008 other than any requirement that the accounts give a 'true aiid fair, view whicli is iiot a matter considered as part of an iiidepeiident examinatioii. I Iiave no concerns and have come across no other mattel-s in coiinectioii witli the exairinalion to which attention should be drawn in this report in order to eiiable a propel. Linderstanding of tlie accounts to be reached. J A Neumann FCA Cohen Ariiold Independetjt Examiner N¢w Burlington House 1075 Fincliley Road Londoii NWI I OPU
Docusijn Envelope ID.. 7EEB4A1 C-92CF4F63-A2DE-0492953A2205 FRIENDS OF YESHIVA LUZER STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 2025 Unrestricted funds Total funds Total funds 2024 Note Ineome and endowments Donations and legacies Investment income 417,784 186 417,784 186 282,121 2,203 Total income 417,970 417,970 284,324 Expenditure Expenditure on charitable activities Total expenditure (465,588) (465,588} (391,502) (465.588) (465,588) (391,502) Net expenditure and net movement in funds (47,61 8) (47,618) (107,178) Reconciliation of funds Total funds brought forward Total funds carried fonvard 432,606 432,606 539,784 432,606 384,988 384,988 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 6 to Error! Bookmark not defined. form part of these financial staternents.
Docusign Envelope ID.. 7EEB4A1 C-92CF4F63-A2DE-0492953A2205 FRIENDS OF YESHIVA LUZERN STATEMENT OF FINANCIAL POSITION 31 MARCH 2025 2025 2024 Tr4ote Fixed Assets Tangible fixed assets Current assets Cash at bank and in hand 14 137,624 168,457 411247 429,706 Creditor5: amounts falling due withiD one year 15 (163,883) (165.557) Net current assets 247,364 264,149 Total assets less current liabilities 384,988 432,606 432.606 Net assets 384,988 Funds of the charity Unrestricted funds 384,988 432,606 432.606 Total charity funds 16 384,988 cial stateinents were approved by the board of trustees and authorised for issue on aiid arc sigi)ed on behalf of the board by: Slgnod br. D4D5 Mr "Iraiit erii Trustee The notes on pages 6 to Error! Bookmark not defined. form part of these financiAI statement&
Docusign Envelo ID.. 7EEB4A1 c-92CF4F63-A2DE-0492953A2205 FRIENDS OF YESHIVA LUZERN NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 GEIYERAL 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 112 Osbaldeston Road, Londo Nl 6 6NJ. STATEMENT OF COMPLIANCE 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. ACCOUNfJJG POLICIES Basis of preparation The financial statements have been prepared on th¢ 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. The charity meets the definition of a public benefit entity under FRS 102. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These 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 if the revision affects only that period, or in the period of the revision and futur¢ periods if the revision affects both current and future periods. The trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below. Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign Currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities.
Docusign Envelope ID.. 7EEB4A1 C-92CF4F63-A2DE-0492953A2205 FRIENDS OF YESHIVA LUZERN NOTES TO THE FINANCIAL STATEMENTS (conlinued) YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES (eondnued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's pury)oses. Designated funds are unrestricted funds earnlarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the tenns of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment fLmds. Incoming resources All income is 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: Income from donations or grants is recognised when there is evidence of entitlement to the gitl receipt is probable and its amount can be measured reliably. Resources expended Expenditure is recognised as soon as there is a present obligation committing the Charity to pay out resources, it is probable that a transfer of economic benefits will be required in settlement and the amount can be me&sured or estimated reliably. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: Expenditure on raising funds includes the costs of all fundraising activities and events. Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. Grants payydble These are only recognised in the accounts when a Commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. Tangible assets Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impainnent losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Short leasehold property Over the remaining period of the lease
Docusign Envelope10'. 7EEB4A1C-92CF4F63-A20E-0492953A2205 FRIENDS OF YESHIVA LUZERN NOTES TO THE FINANCIAL STATEMENTS (eollilrtued) YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICtES Icolltsnmed) Financial instruments A financial asset or a financial liability is recognised only when the entity 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, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. DONATIONS AND LEGACIES Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations Donations received 417.784 417,784 282,121 282,121 INVESTMENT ]NCOME Unrestricted Total Funds Unrestricted Totsl Funds Funds 2025 Funds 2024 Bank interest receivable 186 186 2,203 2,203 EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Charitable activities Support costs 459,920 5,668 459,920 5,668 384,926 6,576 384,926 6,576 391,502 465,588 465,588 391,502
Docusign Envelope ID.. 7EEB4A1C-92CF4F63-A2DE4M92953A2205 FIUENDS OF YESHIVA LUZERN NOTES TO THE FINANCIAL STATEMENTS (co YEAR ENDED 31 MARCH 2025 XPENDITURE ON CHARITABLE ACTIVITIES BY ACTIvrrY TYPE Activities Grant undertaken funding of directly activities Support costs nilllued) Total funds 2025 Total fund 2024 Charitable activities Governance costs 445,165 14,755 459,920 5,668 384,926 6,576 5,668 445,165 14,755 5,668 465,588 391,502 ANALYSIS OF SUPPORT COSTS Total 2025 Total 2024 Governance costs 5,668 6,576 ANALYSIS OF GRANTS 2025 Grants to institutions Edupoor Limited JCOCI Educational Foundation Ltd Mesifta Talmudical College Luzern Yeshiva Talmudical College 7,000 6,255 1,000 500 14,755 Total grants 14,755 10. NET EXPENDrruRE Net expenditure is stated after ¢hargingl(crediting): 2025 2024 Depreciation of tangible fixed &5sets Forcign exchange differences 60,432 868 54.513 868 11. INDEPENDENf EXAMINATION FEES 2025 2024 Fees payable to the independent examiner for: Independent examination of the Financial statements 4,800 4,800
Docusign Envelope ID.. 7EEB4A1 C-92CF4F63-A2DE-0492953A2205 FRIENDS OF YESHIVA LUZERN NOTES TO THE FINANCIAL STATEMENTS fc ortftnued) YEAR ENDED 31 MARCH 2025 12. STAFF COSTS The totsl staff costs for the reporting period are analysed as follows: 2025 2024 Wagcs and salaries 77,843 25,286 The average head count of employces during the year was 8 (2024: 3). No employee received rcmuneration of more than £60,000 during the year 13. TRUSTEE REMUIYERATION AND EXPENSES No salaries or wages have been paid to the trustees during the year. The charity did not meet any individual expenses incurred by the trustees for services provided to the charity. 14. TANGIBLE FIXED ASSETS Short leasehold property Cost At l April 2024 Additions 351,602 29,599 At 31 March 2025 381,201 Depreciation At l April 2024 Charge for the year At 31 March 2025 183.145 60,432 243,577 Carrying amount At 31 March 2025 137,624 At 31 March 2024 168,457 15. CREDITORS: amounts falling due within one year 2025 2024 Accruals and deferred income Other creditors 4,800 159,083 4,800 160,757 163,883 165.557 io
Docusign Envelope ID.. 7EEB4A1 C-92CF4F6>A2DE-0492953A2205 FRIENDS OF YESHIVA LUZERN NOTES TO THE FINANCIAL STATEMENfs (coNfinuedJ YEAR ENDED 31 MARCH 2025 16. ANALYSIS OF CHARITABLE FUIYDS Unrestricted funds At 31 March 2025 At l April 2024 Income Expenditure General thnds 432,606 417,970 (465,588) 384,988 At 31 March 2024 At l April 2023 Income Expenditure General funds 539.784 284,324 (391,502} 432,606 17. ANALYSIS OF NET ASSETS BETWEEIY FUNDS Unrestricted Total Funds Funds 2025 Tangible fixed assets Current assets Creditors less than l year Net assets 137,624 137,624 411,247 411,247 (163,883) (163083) 384,988 384,988 Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than l year Net assets 168,457 168,457 429,706 429,706 (165,557) (165,557) 432,606 432,606 18. RELATED PARTY TRANSACTIONS Other creditors include amounts totalling £60,892 (2024: £60.892) due to the Trustees and Companies connected with the Trustees