**Charity Registration No. 1129246**
## **FRIENDS OF ASHDOD**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
## **FRIENDS OF ASHDOD**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr J Marguilies Mr C Y Spitzer Mr A Jakubovitsch **Charity number** 1129246 **Registered office** 82 Darenth Road London N16 6ED **Independent examiner** Mr J Silver FCCA Precision Ltd 32 Castlewood Road London N16 6DW
## **FRIENDS OF ASHDOD**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1|
|Independent examiner's report|2|
|Statement of financial activities|3|
|Balance sheet|4|
|Notes to the financial statements|5 - 8|
## **FRIENDS OF ASHDOD**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2021**_
The trustees present their annual report and financial statements for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, 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)” (effective 1 January 2019) .
## **Objectives and activities**
The charity's objects are the advancement of the orthodox Jewish faith, orthodox Jewish religious education, and the relief of poverty in the orthodox Jewish community .
In order to achieve these objectives the charity provides grants to Orthodox Jewish Houses of Worship, educational institutions, charities, individuals in need and other organisations working to prevent or relieve poverty in Great Britain and abroad.
The trustees consider all requests which they receive and make donations based on the level of funds available.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity received £ 28,024 in donations during the year and £ 28,595 was paid out by way of grants and support costs. Grants over £5,000 made during the year to institutions are as detailed in the accounts. These grants were made in line with the stated objects of the charity and were for educational and relief of poverty purposes .
## **Financial review**
The charity's statement of financial activities shows total free reserves of £ (479), the trustees intend to further their fund-raising efforts to recover the shortfall in funds in the short term.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level which will not impinge on its ability to support Charitable institutions .
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The charity is constituted and governed by a Trust Deed dated 2 5 March 2009 . The charity is managed and controlled by the Trustees who meet regularly.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr J Marguilies Mr C Y Spitzer Mr A Jakubovitsch
The power to appoint new trustees is vested in the current board. It is not the intention of the trustees of the charity to appoint any trustees. Should the situation change in the future, the trustees will apply suitable induction and training procedures. The trustees administer the day to day running of the charity.
The trustees' r eport was approved by the Board of Trustees.
..............................
**Mr C Y Spitzer** Trustee Dated: .........................
..............................
**Mr A Jakubovitsch** Trustee Dated:.........................
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## **FRIENDS OF ASHDOD**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF ASHDOD**
I report to the trustees on my examination of the financial statements of Friends of Ashdod (the charity) for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
## **J Silver FCCA Precision Ltd 32 Castlewood Road N16 6DW**
Dated: .........................
- 2 -
## **FRIENDS OF ASHDOD**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|||**Unrestricted Unrestricted**|**Unrestricted Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2021**|**2020**|
||**Notes**|
**£**|**£**|
|**Income from:**||||
|Donations and legacies|**3**|28,024|30,075|
|**Expenditure on:**||||
|Charitable activities|**4**|28,595|32,955|
|**Net expenditure for the year/**||||
|**Net movement in funds**||(571)|(2,880)|
|Fund balances at 1 April 2020||92|2,972|
|**Fund balances at 31 March 2021**||(479)|92|
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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## **FRIENDS OF ASHDOD**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2021**_
|**2021**
**Notes**
**£**
**Current assets**
Cash at bank and in hand
241
**Creditors: amounts falling due within**
**one year**
**9**
(720)
Net current (liabilities)/assets
**Income funds**
Unrestricted funds
The financial statements were approved by the Trustees on .........................
..............................
..............................
Mr C Y Spitzer
Mr A Jakubovitsch
**Trustee**
**Trustee**|**£**
(479)
(479)
(479)|**2020**
**£**
572
(480)|**£**
92
92
92|
|---|---|---|---|
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## **FRIENDS OF ASHDOD**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
## **Charity information**
Friends of Ashdod is a unincorporated charity.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements 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 charity has adequate resources to continue in operational existence for the foreseeable future due to the ongoing financial support from the community . 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.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity 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.
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## **FRIENDS OF ASHDOD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
## **(Continued)**
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Expenditure**
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.
## **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.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount 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 preparation of these financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
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## **FRIENDS OF ASHDOD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **3 Donations and legacies**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Donations and gifts|28,024|30,075|
## **4 Charitable activities**
|||**Charitable**|
**Charitable**|
|---|---|---|---|
|||**Expenditure**
**Expenditure**||
|||**2021**|
**2020**|
|||**£**|
**£**|
||Grant funding of activities (see note 5)|27,635|
32,423|
||Share of governance costs (see note 6)|960|
532|
|||28,595|
32,955|
|**5**|**Grants payable**|||
|||**Charitable**|
Charitable|
|||**Expenditure**|
Expenditure|
|||**2021**|
2020|
|||**£**|
£|
||Grants to institutions:|||
||The J and R Margulies Charitable Trust|15,635|
-|
||Chevras Mo'oz Ladol|12,000|
-|
||Other|-|
9,800|
|||27,635|
32,423|
-
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## **FRIENDS OF ASHDOD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **6 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy
-
240
Legal and professional
-
720
Bank charges
-
-
-
960
Analysed between
Charitable activities
-
960|**2021**
Support
costs
Governance
costs
**£**
£
£
240
-
240
720
-
250
-
-
42
960
-
532
960
-
532|2020
£
240
250
42
532
532|
|---|---|---|
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **8 Employees**
The average monthly number of employees during the year was:
|The average monthly number of employees during the year was:|||
|---|---|---|
||**2021**|**2020**|
||**Number**|**Number**|
|Total|-|-|
|There were no employees whose annual remuneration was more than £60,000.|||
|**Creditors: amounts falling due within one year**|||
||**2021**|**2020**|
||**£**|**£**|
|Accruals and deferred income|720|480|
## **9 Creditors: amounts falling due within one year**
## **10 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none) .
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