REGISTERED COMPANY NUMBER: 06337422 (England and Wales) REGISTERED CHARITY NUMBER: 1121260
YEITEV LEV ERETZ ISRAEL LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
YEITEV LEV ERETZ ISRAEL LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 to | 3 |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Balance Sheet | 6 | |
| Notes to the Financial Statements | 7 to | 9 |
YEITEV LEV ERETZ ISRAEL LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2021
TRUSTEES S Berkowitz M Freund I Scher COMPANY SECRETARY S Berkowitz REGISTERED OFFICE First Floor 94 Stamford Hill London N16 6XS REGISTERED COMPANY 06337422 (England and Wales) NUMBER REGISTERED CHARITY 1121260 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS BANKERS Barclays Bank plc 1 Churchill Place London E14 5HP
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YEITEV LEV ERETZ ISRAEL LIMITED (REGISTERED NUMBER: 06337422)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
Reference and administrative information
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
OBJECTIVES AND ACTIVITIES
Objectives for public benefit
The objects of the charity are the advancement of the Orthodox Jewish faith, the advancement of Orthodox Jewish religious education, the relief of poverty, sickness and infirmity amongst members of the Jewish faith and such other purposes as are recognised as charitable by English Law.
The objects of the charity are achieved by grantmaking. The trustees confirm that they have given due regard to the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities, and setting the grant making policy for the year.
Grantmaking policy
In general the trustees select the institutions to be supported according to their personal knowledge of work of the institution. Whilst not actively inviting applications, they are always prepared to accept any application which will be carefully considered and help given according to circumstances and funds then available.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
There was a slight decrease in income for the year although the trustee increased grantmaking by over 50% using reserves held. The charity continued its philanthropic activities and has maintained its support of advancement of education, advancement of religion and the relief of poverty, as per note 5 to the financial statements.
FINANCIAL REVIEW
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves, at the year end were £9,734 (2020- £196,366).
FUTURE PLANS
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The charity is constituted as a company limited by guarantee and it governed by its Memorandum and Articles of Association dated 8 August 2007.
Organisational structure
The power to appoint new trustees is vested in the continuing board. New trustees are appointed based on personal competence, specialist skills and experience They are inducted into the working of the charity by the board and are given, in the view of the board, sufficient training to understand the nature of the charity and be able to comply with the charity's current views. They are also encouraged to read the Charity Commission's various publications on trustees. All trustees give of their time voluntary.
Risk management
The trustees have reviewed the major risks that the charity faces and confirm that they have established systems to mitigate them.
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YEITEV LEV ERETZ ISRAEL LIMITED (REGISTERED NUMBER: 06337422)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 10 May 2022 and signed on its behalf by:
M Freund - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YEITEV LEV ERETZ ISRAEL LIMITED
Independent examiner's report to the trustees of Yeitev Lev Eretz Israel Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021.
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 registered member of 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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
E Meyer FCA BSc Institute of Chartered Accountants in England and Wales Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
10 May 2022
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YEITEV LEV ERETZ ISRAEL LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 310,587 Investment income 2 1 Total 310,588 EXPENDITURE ON Raising funds 10,924 Charitable activities 3 Charitable activities 486,296 Total 497,220 NET INCOME/(EXPENDITURE) (186,632) RECONCILIATION OF FUNDS Total funds brought forward 196,366 TOTAL FUNDS CARRIED FORWARD 9,734 |
2020 Total funds £ 321,511 500 |
|---|---|
| 322,011 5,184 312,565 |
|
| 317,749 | |
| 4,262 192,104 |
|
| 196,366 |
The notes form part of these financial statements
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YEITEV LEV ERETZ ISRAEL LIMITED (REGISTERED NUMBER: 06337422)
BALANCE SHEET 31 AUGUST 2021
| Notes CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds: General fund TOTAL FUNDS |
2021 Total funds £ 11,054 (1,320) 9,734 9,734 9,734 9,734 9,734 |
2020 Total funds £ 197,925 (1,559) 196,366 196,366 196,366 196,366 196,366 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 10 May 2022 and were signed on its behalf by:
M Freund - Trustee
The notes form part of these financial statements
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YEITEV LEV ERETZ ISRAEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
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
Donations are included in full in the Statement of Financial Activities when received. Other income is recognised when receivable.
Expenditure
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT.
Raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose
Grants made are recognised when paid.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Going concern
There are no material uncertainties about the charity's ability to continue.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2021 | 2020 | |
| Unrestricted | Total | |
| funds | funds | |
| £ | £ | |
| Deposit account interest | 1 | 500 |
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YEITEV LEV ERETZ ISRAEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
3. CHARITABLE ACTIVITIES COSTS
| Grant funding of activities (see note 4) £ Charitable activities 484,202 4. GRANTS PAYABLE Charitable activities The total grants paid to institutions during the year was as follows: Advancement of religion Advancement of education Relief of poverty General purposes Social welfare Mosdos Yetev Lev Israel Keren Yetev Lev Ltd Kollel Berich Moishe Mifal Tzdaka Vchesed Vayoel Moshe Others under £20,000 The total grants paid to individuals during the year was as follows: Relief of poverty |
Support costs (see note 5) £ 2,094 2021 £ 484,202 2021 £ 399,060 40,928 38,000 - - 477,988 209,450 187,500 22,928 20,000 38,110 477,988 2021 £ 6,214 |
Totals £ 486,296 |
|---|---|---|
| 2020 £ 310,668 |
||
| 2020 £ 221,218 52,550 2,400 2,000 32,500 |
||
| 310,668 | ||
| 2020 £ - |
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YEITEV LEV ERETZ ISRAEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
5. SUPPORT COSTS
| Charitable activities Support costs, included in the above, are as follows: Governance costs Independent examiner's fee Independent examiner's other fees General expenses Fees written off |
Governance Other costs Totals £ £ £ 263 1,831 2,094 2021 2020 Charitable Total activities activities £ £ 660 360 660 1,200 511 294 - (240) 1,831 1,614 |
|---|---|
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
7. AVERAGE STAFF NUMBERS
The average number of staff in the year was Nil (2020 - Nil)
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 1,320 | 1,559 |
9.
RELATED PARTY DISCLOSURES
The charity made a donation of £187,500 to a charity in which a trustee has an interest.
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