Charity registration number 1122792 (England and Wales)
THE OREN & RACHEL PELEG FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
THE OREN & RACHEL PELEG FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees O S Peleg R I Peleg L G Marks Charity number (England and Wales) 1122792 Principal address 1 Heathgate Hampstead Garden Suburb London NW11 7AR Independent examiner Gravita AH Limited Aldgate Tower 2 Leman Street London E1 8FA
THE OREN & RACHEL PELEG FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 - 7 |
THE OREN & RACHEL PELEG FOUNDATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The trustees present their report and accounts for the year ended 31 August 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities Act 2011 and “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).
Objectives and activities
The objective of the charity is to provide funds for such charitable institutions as the trustees shall in its absolute discretion think fit.
The trustees' future aims are to make distributions in line with net incoming resources reported in the charity's most recent accounts.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Foundation should undertake.
Achievements and performance
Significant activities and achievements against objectives
The Trust's income for the year was £31,717 (2023: £18,750) and total payments were £19,870 (2023: £23,100). The net surplus was transferred to accumulated funds.
Financial review
The trustees can report that the Foundation has made donations during the year totalling £19,870 (2023: £23,100) and hope to increase donations in future years.
Reserves policy
The Trustees' policy is to operate on the basis of being able to continue to generate sufficient incoming resources to maintain reserves at a level sufficient to use towards meeting its charitable objects and to accord with its principal aims.
The Charity has sufficient, but not excessive, funds to maintain its current level of charitable distributions, and has achieved its reserves policy.
Major risks
The trustees have assessed the major risks to which the Foundation is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The Foundation was established by a charitable trust deed and registered with the Charity Commission on 18 June 2007 under charity number 1122792.
The trustees who served during the year were:
O S Peleg R I Peleg L G Marks
Trustees are appointed by existing Trustees voting in accordance with the terms as set out in the Trust Deed.
Their position as trustees is unremunerated and no trustee had any beneficial interest in any contract with the Foundation during the year.
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THE OREN & RACHEL PELEG FOUNDATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Organisational structure
The trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems are in place to mitigate exposure to the major risks.
The trustees' report was approved by the Board of Trustees.
.............................. QuerRelaer— O S Peleg
Trustee
12/5/2025 Date: .............................................
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THE OREN & RACHEL PELEG FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE OREN & RACHEL PELEG FOUNDATION
I report to the trustees on my examination of the financial statements of The Oren & Rachel Peleg Foundation (the Foundation) for the year ended 31 August 2024.
Responsibilities and basis of report
As the trustees of the Foundation you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the Foundation’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
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 that in any material respect:
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1 accounting records were not kept in respect of the Foundation as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
Paul Berlyn Gravita AH Limited
Aldgate Tower 2 Leman Street London E1 8FA
12/5/2025 Dated: .........................
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THE OREN & RACHEL PELEG FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 2 | 31,717 | 18,750 |
| Total income | 31,717 | 18,750 | |
| Expenditure on: | |||
| Charitable activities | 3 | 19,870 | 23,100 |
| Total expenditure | 19,870 | 23,100 | |
| Net income/(expenditure) and movement in funds | 11,847 | (4,350) | |
| Reconciliation of funds: | |||
| Fund balances at 1 September 2023 | 14,526 | 18,876 | |
| Fund balances at 31 August 2024 | 26,373 | 14,526 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE OREN & RACHEL PELEG FOUNDATION
STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024
| 2024 | 2023 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |||
| Current assets | |||||||
| Debtors | 7 | 2,500 | 11,500 | ||||
| Cash at bank and in hand | 23,873 | 3,026 | |||||
| 26,373 | 14,526 | ||||||
| Net current assets | 26,373 | 14,526 | |||||
| The funds of the Foundation | |||||||
| Unrestricted funds | 26,373 | 14,526 | |||||
| 26,373 | 14,526 |
The financial statements were approved by the trustees on ......................... 12/5/2025 .............................. .............................. QrerQe her Racket, Puleg O S Peleg R I Peleg Trustee Trustee
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THE OREN & RACHEL PELEG FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
1 Accounting policies
Charity information
The Oren & Rachel Peleg Foundation is an unincorporated Charity, Charity Registration Number 1122792. The registered office is 1 Heathgate, Hampstead Garden Suburb, London, NW11 7AR
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The Foundation is a Public Benefit Entity as defined by FRS 102.
The Foundation has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Foundation. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
1.4 Income
Cash donations are recognised on receipt. Other donations are recognised once the Foundation has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Expenditure is included in the statement of financial activities when incurred and includes attributable value added tax which cannot be recovered. Resources expended comprise the following:
Management and administration comprises the costs which are directly attributable to the management of the charity's assets, organisational procedures and the necessary legal procedures for compliance with regulatory requirements.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Unrestricted Funds
Unrestricted funds are donations and other income received or generated for the charitable purposes.
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THE OREN & RACHEL PELEG FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
2 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 31,717 | 18,750 |
3 Expenditure on charitable activities
| Donations | Donations | |
|---|---|---|
| Paid | Paid | |
| 2024 | 2023 | |
| £ | £ | |
| Direct costs | ||
| Donations paid | 19,870 | 23,100 |
4 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year (2023: none), and they were not reimbursed for any of their expenses in the year (2023: none).
5 Employees
There were no employees during the year or prior year.
6 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
7 Debtors
| Debtors | ||
|---|---|---|
| 2024 | 2023 | |
| Amounts falling due within one year: | £ | £ |
| Other debtors | 2,500 | 11,500 |
8 Financial commitments, guarantees and contingent liabilities
There are no contingent liabilities of the Charity at 31 August 2024 (2023: none).
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