Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
COMPANY REGISTRATION NUMBER: 06267928 CHARITY REGISTRATION NUMBER: 1126356
LANIADO HOSPITAL UK
Company Limited by Guarantee FINANCIAL STATEMENTS
31 DECEMBER 2023
COHEN ARNOLD
Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONDON NW11 0PU
Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
| PAGES | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 to 5 |
| Independent auditor's report to the members | 6 to 9 |
| Statement of financial activities (including income and expenditure | |
| account) | 10 |
| Statement of financial position | 11 |
| Statement of cash flows | 12 |
| Notes to the financial statements | 13 to 18 |
Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
YEAR ENDED 31 DECEMBER 2023
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 December 2023.
REFERENCE AND ADMINISTRATIVE DETAILS Registered charity name Laniado Hospital UK
Laniado Hospital UK
Charity registration number 1126356 Company registration number 06267928 Principal office Shield House Harmony Way London NW4 2BZ Registered office New Burlington House 1075 Finchley Road London NW11 0PU THE TRUSTEES Mr A B Stern Mr I J Kohn Mr S Unsdorfer Auditor Cohen Arnold Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONDON NW11 0PU
STRUCTURE, GOVERNANCE AND MANAGEMENT
Commencement of activities
The charity was incorporated on 4 June 2007, and it was granted charitable status on 20 October 2008 under registration number 1126356. The charity is governed by its Memorandum and Articles of Association and is a company limited by guarantee.
Recruitment and appointment of new trustees
Trustees are appointed according to the Articles of association.
Induction and training of new trustees
New trustees undergo a briefing on their legal obligations under company and charity law.
Organisational structure
The board of trustees administers the charity. The Chief Executive, Simon Silver, is in charge of overseeing the day-to-day affairs.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure that appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees are satisfied that systems are in place to manage those risks.
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 31 DECEMBER 2023
OBJECTIVES AND ACTIVITIES
Objectives
The object of the charity is to advance the charitable work of the Laniado Hospital ("the Hospital"), Kiryat Sanz, Netanya, Israel.
Mission Statement of the Hospital
Laniado Hospital is an Israeli hospital founded on, and operating on the principle that compassion, kindness and sympathy are the threads with which we can bind all humanity, irrespective of race or religion.
We do not ask of our patients' faith; we ask how we can best care for them when they are at their most vulnerable. Our multicultural staff are chosen not only for their expertise, but also for their belief in the respect for all life. Laniado was founded by Rabbi Yekutiel Halberstam ztz"l. He survived Auschwitz and resolved to dedicate his life to building a hospital that would honour human beings, whatever their race, whatever their faith. It took him almost thirty years to raise the necessary funds and to prove that there is no depth from which the human spirit cannot rise to make a positive difference. Our hospital is a symbol of what can be achieved when human beings come together with understanding and sympathy.
Laniado is a haven of peace for today and a beacon of hope for tomorrow.
"Every effort shall be made to relieve the suffering of all patients to improve their mental outlook and elevate their spirits." Excerpt from the Founding Principles by the Klausenberger Rebbe ztz"l.
Activities
Laniado UK raises funds for capital expenditure in the hospital including equipment, refurbishments, buildings, and expansion. Despite Covid we have worked hard to maintain and expand our activities through solicitation of old and new donors, crowd fundraising and trust funds.
Laniado UK - Nurturing Young Philanthropy
As one of the UK's leading innovative, niche Jewish charities, we honour a new generation of young philanthropists inspired by their engagement in a proactive movement to better humanity. Promoting the person-centred message that everyone's contribution matters is the meaningful way we aim to communicate with the public. With a large proportion of total income coming from the new, young donor audience, Laniado Hospital UK now stands out as a distinct charity which promotes giving and leadership. Our goal is to harness the potential in this viable community and encourage philanthropy at all levels.
We aim to set the best example of what can be achieved through involvement. To this end, our focus on involving the future philanthropists of tomorrow has helped us cultivate an eager and willing audience motivated by achievement toward a charitable goal, communal identity and engagement and personal fulfilment.
Public Benefit
The Trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 31 DECEMBER 2023
ACHIEVEMENTS AND PERFORMANCE
The events of October 7 2023 overshadowed and of course redirected our fundraising efforts. The hospital has been heavily involved in the response to the current war, treating both civilians and soldiers over the last 12 months. The awful attacks emphasised the hospital’s need to provide and build sheltered facilities throughout the hospital. To this end we have been dedicated and focussed on our current project which is to build a new sheltered, underground Emergency Room on the hospital campus. The new ER will be protected from both missile and biological weapons attacks and will be over four times as large as the current facility, expanding from 900sqm to 4000sqm. This department will be built three floors underground on the site of the current hospital car park.
We did not run a dinner in 2023, instead, by dedicating our energies to donor solicitation and legacy campaigns we have found that we have been able to more than cover the income we would have brought in via a dinner. We ran a very successful crowd funding campaign in response to the attacks by Hamas and we continue to run innovative events and expanded our Scotland distillery tour this year.
Our goal has always been to recruit the inner circle of volunteers and expand this to motivate the wider circles of friends and supporters. With this in mind, we have several challenges that we must keep in mind for future growth:
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Retaining the existing leaders whilst also recruiting new members.
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Preparing capital projects for major donors and meeting with new patrons. Soliciting new donors and building new relationships have been the cornerstone of what we have done this year and has helped us to return positive financial results for the year.
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Laniado UK has become a virtual "charity/movement" in which new young people are recruited to work and raise funds, introduce new donors and friends and most importantly, open new doors for major gifts and development. Our attitude, that 'everyone has something to contribute' has proved that we can engage men and women who are able to tap new, outside resources for events, promotion, advertising, entertainment, and sponsorship. There are great advantages to this, however, we must be vigilant to establish firm relationships with all who are involved so that they remain supporters for many years to come. Most importantly, the charity must now focus on redressing the balance of major donors to bring in the much-needed income.
Our major achievements for 2023 include:
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Besides the funds that we have raised, the fundraising team have successfully built relationships with donors who have donated over $1m directly to the hospital in Israel.
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Successful crowd funding campaign in response to the October 7[th] attacks raising over £250,000 for the hospital
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Overall operational costs reduced below 20% of income and falling.
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Improving relations with Israel offices.
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Expanding our network of potential large major donors.
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Expanded, successful fundraising distillery tour in Scotland
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Successful Rosh Hashana and Pesach campaigns enhanced by our use of social media
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Successful solicitation of legacies.
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 31 DECEMBER 2023
FINANCIAL REVIEW
Reserves policy
The charity's funds are managed to ensure the certainty of at least two months of running expenses being available at any point in time which amounts to approximately £31,000.
As at 31 December 2023 the charity had £37,780 in Unrestricted Funds.
Going Concern
At the time of writing, the Trustees do not foresee any major challenges to covering the Charity's ongoing operational costs.
PLANS FOR FUTURE PERIODS
At the time of writing we are currently in the midst of a campaign to help with the hospitals emergency response to the situation in Gaza following the terrorist attacks by Hamas. We have currently accepted dozens of patients, some seriously wounded and are preparing to receive more. In response, we have launched an emergency campaign through the 'Charity Extra' portal to help us in these efforts. The response by the community so far has been extremely positive.
TRUSTEES' RESPONSIBILITIES STATEMENT
The trustees, who are also directors for the purposes of company law, 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).
Company law 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 charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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 Companies Act 2006. 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.
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 31 DECEMBER 2023
AUDITOR
Each of the persons who is a trustee at the date of approval of this report confirms that:
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so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
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they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 31 October 2024 and signed on behalf of the board of trustees by:
==> picture [86 x 37] intentionally omitted <==
Mr I J Kohn
Trustee
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANIADO HOSPITAL UK
YEAR ENDED 31 DECEMBER 2023
OPINION
We have audited the financial statements of Laniado Hospital UK (the 'charity') for the year ended 31 December 2023 which comprise the statement of financial activities (including income and expenditure account), 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:
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give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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have been prepared in accordance with the requirements of the Companies Act 2006.
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 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.
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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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANIADO
HOSPITAL UK (continued)
YEAR ENDED 31 DECEMBER 2023
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.
OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the trustees' report has been prepared in accordance with applicable legal requirements.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and the returns; or
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certain disclosures of directors remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; and
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the trustees annual report and take advantage of the small companies exemption from the requirement to prepare a strategic report.
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANIADO
HOSPITAL UK (continued)
YEAR ENDED 31 DECEMBER 2023
RESPONSIBILITIES OF TRUSTEES
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) 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.
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:
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANIADO
HOSPITAL UK (continued)
YEAR ENDED 31 DECEMBER 2023
· Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
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.
USE OF OUR REPORT
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. 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.
==> picture [98 x 37] intentionally omitted <==
David Goldberg, FCA DChA (Senior Statutory Auditor)
For and on behalf of Cohen Arnold Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONDON NW11 0PU 31 October 2024
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 DECEMBER 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 527,066 | 655,818 | 1,182,884 | 601,091 |
| Investment income | 6 | 1,210 | – | 1,210 | 1,210 |
| ------------------------------------- | ------------------------------------- | ----------------------------------------------- | ------------------------------------- | ||
| Total income | 528,276 | 655,818 | 1,184,094 | 602,301 | |
| ===================================== | ===================================== | =============================================== | ===================================== | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | legacies | (213,865) | – | (213,865) | (199,744) |
| Expenditure on charitable activities | 7,8 |
(278,721) | (655,818) | (934,539) | (402,938) |
| ------------------------------------- | ------------------------------------- | ----------------------------------------------- | ------------------------------------- | ||
| Total expenditure | (492,586) | (655,818) | (1,148,404) | (602,682) | |
| ===================================== | ===================================== | =============================================== | ===================================== | ||
| ------------------------------------- | ------------------------------------- | ----------------------------------------------- | ------------------------------------- | ||
| Net income/(expenditure) and net | |||||
| movement in funds | 35,690 | – | 35,690 | (381) | |
| ===================================== | ===================================== | =============================================== | ===================================== | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 37,780 | – | 37,780 | 38,161 | |
| ------------------------------------- | ------------------------------------- | ----------------------------------------------- | ------------------------------------- | ||
| Total funds carried forward | 73,470 | – | 73,470 | 37,780 | |
| ===================================== | ===================================== | =============================================== | ===================================== |
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 13 to 18 form part of these financial statements.
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
| 31 DECEMBER 2023 | 31 DECEMBER 2023 | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Note | £ | £ | £ | |
| Current assets | ||||
| Debtors | 13 | 33,211 | 32,001 | |
| Cash at bank and in hand | 56,619 | 16,496 | ||
| ------------------------------- | ------------------------------- | |||
| 89,830 | 48,497 | |||
| Creditors: amounts falling due within one year | 15 | (16,360) | (10,717) | |
| ------------------------------- | ------------------------------- | |||
| Net current assets | 73,470 | 37,780 | ||
| ------------------------------- | ------------------------------- | |||
| Total assets less current liabilities | 73,470 | 37,780 | ||
| ------------------------------- | ------------------------------- | |||
| Net assets | 73,470 | 37,780 | ||
| =============================== | =============================== | |||
| Funds of the charity | ||||
| Unrestricted funds | 73,470 | 37,780 | ||
| ------------------------------- | ------------------------------- | |||
| Total charity funds | 16 | 73,470 | 37,780 | |
| =============================== | =============================== |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 31 October 2024, and are signed on behalf of the board by:
==> picture [86 x 37] intentionally omitted <==
Mr I J Kohn Trustee
The notes on pages 13 to 18 form part of these financial statements.
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
STATEMENT OF CASH FLOWS
YEAR ENDED 31 DECEMBER 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Cash flows from operating activities | |||
| Net income/(expenditure) | 35,690 | (381) | |
| Adjustments for: | |||
| Other interest receivable and similar income | (1,210) | (1,210) | |
| Accrued expenses/(income) | 3,749 | (2,644) | |
| Changes in: | |||
| Trade and other creditors | 1,853 | 417 | |
| ------------------------------- | -------------------------- | ||
| Cash generated from operations | 40,082 | (3,818) | |
| ------------------------------- | -------------------------- | ||
| Net cash from/(used in) operating activities | 40,082 | (3,818) | |
| =============================== | ========================== | ||
| Net increase/(decrease) in cash and cash equivalents | 40,082 | (3,818) | |
| Cash and cash equivalents at beginning of year | 16,496 | 20,314 | |
| ------------------------------- | ------------------------------- | ||
| Cash and cash equivalents at end of year | 14 | 56,578 | 16,496 |
| =============================== | =============================== |
The notes on pages 13 to 18 form part of these financial statements.
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. GENERAL INFORMATION
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is New Burlington House, 1075 Finchley Road, London, NW11 0PU.
2. 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 Companies Act 2006.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The charity constitutes a public benefit entity as defined by FRS102.
Going concern
The Trustees are of the opinion that the charity is able to continue as a going concern.
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. The 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 future 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.
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2023
3. ACCOUNTING POLICIES (continued)
Fund accounting
General unrestricted funds comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.
Restricted funds are funds subject to specific restricted conditions imposed by donors.
Designated funds are funds which have been set aside at the discretion of the Trustees for specific purposes.
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:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
Expenditure
Expenditure is charged on an accrual basis and allocated to the appropriate headings in the accounts.
The majority of costs are directly attributable to specific activities. Costs incurred in respect of the charitable activities include elements of staff costs and attributable support costs
Support costs
Support costs are those costs which are common to all areas of the organisation.
Governance costs
Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity. These costs include audit, legal advice for Trustees and costs associated with meeting constitutional and statutory requirements such as the cost of Trustee meetings and the preparation of the statutory accounts.
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.
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2023
4. LIMITED BY GUARANTEE
The charity is a company limited by guarantee and has no share capital. The liability of each trustee in the event of winding up is limited to £1.
5. DONATIONS AND LEGACIES
| 5. | DONATIONS AND LEGACIES | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations received | 480,291 | 655,818 | 1,136,109 | ||
| Legacies | |||||
| Legacies | 46,775 | – | 46,775 | ||
| ------------------------------------- | ------------------------------------- | ----------------------------------------------- | |||
| 527,066 | 655,818 | 1,182,884 | |||
| ===================================== | ===================================== | =============================================== | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations received | 270,734 | 279,281 | 550,015 | ||
| Legacies | |||||
| Legacies | 51,076 | – | 51,076 | ||
| ------------------------------------- | ------------------------------------- | ------------------------------------- | |||
| 321,810 | 279,281 | 601,091 | |||
| ===================================== | ===================================== | ===================================== | |||
| 6. | INVESTMENT INCOME | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Loan interest receivable | 1,210 | 1,210 | 1,210 | 1,210 | |
| ========================== | ========================== | ========================== | ========================== | ||
| 7. | EXPENDITURE ON CHARITABLE | ACTIVITIES BY FUND TYPE | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Support to Laniado Hospital in Israel | 269,486 | 655,818 | 925,304 | ||
| Support costs | 9,235 | – | 9,235 | ||
| ------------------------------------- | ------------------------------------- | ------------------------------------- | |||
| 278,721 | 655,818 | 934,539 | |||
| ===================================== | ===================================== | ===================================== | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Support to Laniado Hospital in Israel | 116,085 | 279,281 | 395,366 | ||
| Support costs | 7,572 | – | 7,572 | ||
| ------------------------------------- | ------------------------------------- | ------------------------------------- | |||
| 123,657 | 279,281 | 402,938 | |||
| ===================================== | ===================================== | ===================================== |
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2023
8. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Activities | Grant | ||||
|---|---|---|---|---|---|
| undertaken | funding of | Total funds | Total fund |
||
| directly | activities Support costs | 2023 | 2022 |
||
| £ | £ | £ | £ | £ | |
| Support to Laniado | |||||
| Hospital in Israel | 17,504 | 907,800 | – | 925,304 | 395,366 |
| Governance costs | – | – | 9,235 | 9,235 | 7,572 |
| ------------------------------- | ------------------------------------- | -------------------------- | ------------------------------------- | ------------------------------------- | |
| 17,504 | 907,800 | 9,235 | 934,539 | 402,938 |
|
| =============================== | ===================================== | ========================== | ===================================== | ===================================== | |
| NET INCOME/(EXPENDITURE) | |||||
| Net income/(expenditure) | is stated after charging/(crediting): | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Foreign exchange differences | – | 360 |
|||
| ================ | ================ | ||||
| INDEPENDENT EXAMINATION FEES | |||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 7,000 | 6,000 |
|||
| ========================== | ========================== | ||||
| STAFF COSTS | |||||
| The total staff costs and employee benefits for the reporting period are analysed as | follows: | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Wages and salaries | 93,739 | 94,056 |
|||
| Social security costs | 4,419 | 5,141 |
|||
| Employer contributions to pension plans | 2,134 | 1,987 |
|||
| ------------------------------------- | ------------------------------------- | ||||
| 100,292 | 101,184 |
||||
| ===================================== | ===================================== |
9. NET INCOME/(EXPENDITURE)
10. INDEPENDENT EXAMINATION FEES
11. STAFF COSTS
The average head count of employees during the year was 3 (2022: 3).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £45,295 (2022:£53,090).
12. TRUSTEE REMUNERATION AND EXPENSES
There was no remuneration paid to the trustees. The charity did not meet any individual expenses incurred by the trustees for services provided to the charity.
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2023
13. DEBTORS
| DEBTORS | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Prepayments and accrued income | 9,011 | 7,801 |
| Other debtors | 24,200 | 24,200 |
| ------------------------------- | ------------------------------- | |
| 33,211 | 32,001 | |
| =============================== | =============================== |
Other debtors includes a loan of £24,200 (2022: £24,200) to Mr & Mrs Silver. The loan bears interest at 5% per annum and is repayable on demand.
14. CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise the following:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Cash at bank and in hand | 56,619 | 16,496 |
| Bank overdrafts | (41) | – |
| ------------------------------- | ------------------------------- | |
| 56,578 | 16,496 | |
| =============================== | =============================== | |
| CREDITORS: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Bank loans and overdrafts | 41 | – |
| Accruals and deferred income | 7,000 | 3,251 |
| Social security and other taxes | 8,860 | 7,049 |
| Other creditors | 459 | 417 |
| ------------------------------- | ------------------------------- | |
| 16,360 | 10,717 | |
| =============================== | =============================== |
15. CREDITORS: amounts falling due within one year
16. ANALYSIS OF CHARITABLE FUNDS
Unrestricted funds
| Unrestricted funds | |||||||
|---|---|---|---|---|---|---|---|
| At | At | ||||||
| 1 | January | 20 | 31 | Decembe | |||
| 23 | Income | Expenditure | r 2023 | ||||
| £ | £ | £ | £ | ||||
| General funds | 37,780 | 528,276 | (492,586) | 73,470 | |||
| =============================== | ===================================== | ===================================== | =============================== | ||||
| At | At | ||||||
| 1 | January | 20 | 31 | December | |||
| 22 | Income | Expenditure | 2022 | ||||
| £ | £ | £ | £ | ||||
| General funds | 38,161 | 323,020 | (323,401) | 37,780 | |||
| =============================== | ===================================== | ===================================== | =============================== |
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Docusign Envelope ID: 54ED418D-BA9B-4FC3-B113-915F85826E68
LANIADO HOSPITAL UK
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2023
16. ANALYSIS OF CHARITABLE FUNDS (continued)
Restricted funds
| Restricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 January | 20 | 31 Decembe | ||
| 23 | Income | Expenditure | r 2023 | |
| £ | £ | £ | £ | |
| Restricted Funds | – | 655,818 | (655,818) | – |
| ================ | ===================================== | ===================================== | ================ | |
| At | At | |||
| 1 January | 20 | 31 December | ||
| 22 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| Restricted Funds | – | 279,281 | (279,281) | – |
| ================ | ===================================== | ===================================== | ================ | |
| ANALYSIS OF NET ASSETS BETWEEN FUNDS | ||||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Current assets | 89,830 | 89,830 | ||
| Creditors less than 1 year | (16,360) | (16,360) |
||
| ------------------------------- | ------------------------------- | |||
| Net assets | 73,470 | 73,470 | ||
| =============================== | =============================== | |||
| Unrestricted | Total Funds | |||
| Funds | 2022 | |||
| £ | £ | |||
| Current assets | 48,497 | 48,497 | ||
| Creditors less than 1 year | (10,717) | (10,717) |
||
| ------------------------------- | ------------------------------- | |||
| Net assets | 37,780 | 37,780 | ||
| =============================== | =============================== | |||
| ANALYSIS OF CHANGES IN NET DEBT | ||||
| At | At | |||
| 1 Jan 2023 | Cash flows | 31 Dec 2023 | ||
| £ | £ | £ | ||
| Cash at bank and in hand | 16,496 | 40,123 | 56,619 | |
| Bank overdrafts | – | (41) | (41) |
|
| ------------------------------- | ------------------------------- | ------------------------------- | ||
| 16,496 | 40,082 | 56,578 | ||
| =============================== | =============================== | =============================== |
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
18. ANALYSIS OF CHANGES IN NET DEBT
19. RELATED PARTIES
No transactions with related parties were undertaken such as are required to be disclosed under FRS102.
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