Friends of Or Meir and Bracha
Charity registration number: 1135998
Friends of Or Meir and Bracha
Annual Report and Financial Statements for the Year Ended 31 December 2023
SKS Shacter Cohen & Bor Ltd
Chartered Accountants
31 Sackville Street
Manchester M1 3LZ
Friends of Or Meir and Bracha
| Contents (continued) | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 |
| Statement of Trustees' Responsibilities | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 11 |
Reference and Administrative Details
Trustees
Mrs. J. Wolfe Ms. D. Leinhardt (Appointed on 27/02/24) Mr. L. Kaufmann (Resigned on 27/02/24)
Charity Registration Number
Principal Office
Independent Examiner
1135998 24 Marchbank Drive Cheadle SK8 1QY SKS Shacter Cohen & Bor Ltd 31 Sackville St. Manchester M1 3LZ
Friends of Or Meir and Bracha
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023.
Objectives and activities
Objects and aims
The charity provides financial and moral support to the victims of terror in Israel.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
The charity is satisfied with its performance to date.
Structure, governance and management
Organisational structure
The charity is administered and managed by two trustees.
The annual report was approved by the trustees of the charity on 14 November 2024 and signed on its behalf by:
……………………………………..
Mrs. J. Wolfe
Trustee
Friends of Or Meir and Bracha
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity 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 Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material
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departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume
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that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that 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 Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 14 November 2024 and signed on its behalf by:
………………………………………….
Mrs. J. Wolfe
Trustee
Friends of Or Meir and Bracha
Independent Examiner's Report to the trustees of Friends of Or Meir and Bracha
I report to the trustees on my examination of the accounts of Friends of Or Meir and Bracha for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of Friends of Or Meir and Bracha you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Friends of Or Meir and Bracha's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material 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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accounting records were not kept in respect of Friends of Or Meir and Bracha as required by section 130 of the 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 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 accounts to be reached.
……………………………………………….
Shacter Cohen & Bor Ltd
Chartered Accountants
31 Sackville St.
Manchester
M1 3LZ
14 November 2024
Friends of Or Meir and Bracha
Statement of Financial Activities for the Year Ended 31 December 2023
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 6.
Friends of Or Meir and Bracha
(Registration number: 1135998)
Balance Sheet as at 31 December 2023
The financial statements on pages 5 to 11 were approved by the trustees, and authorised for issue on 14 November 2024 and signed on their
behalf by: Mrs. J. Wolfe
Trustee
Friends of Or Meir and Bracha
Notes to the Financial Statements for the Year Ended 31 December 2023
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Friends of Or Meir and Bracha meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings, they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Friends of Or Meir and Bracha
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interestbearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Friends of Or Meir and Bracha
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, orto realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Friends of Or Meir and Bracha
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
2 Expenditure on charitable activities
| Unrestricted funds General Note £ Governance costs 570 Note Governance costs Total for 2022 |
Total Total 2023 2022 £ £ 570 600 Unrestricted funds Total General £ funds £ 600 600 630 630 |
|---|---|
Friends of Or Meir and Bracha
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Total expenditure
£
3 Taxation
The charity is a registered charity and is therefore exempt from taxation.
4 Cash and cash equivalents
| Cash at bank 5 Creditors: amounts falling due within one year Accruals 6 Funds Balance at 1 31 December January 2023 £ Unrestricted funds General 431 Balance at 1 31 December January 2022 £ Unrestricted funds General 5,264 |
2023 £ 9,449 2023 £ 570 Incoming Resources resources expended £ £ 34,188 (26,220) Incoming Resources resources expended £ £ 8,998 (13,351) |
2022 £ 1,481 2022 £ 570 Balance at 2023 £ 8,399 Balance at 2022 £ 911 |
|---|---|---|
Friends of Or Meir and Bracha
Statement of Financial Activities by fund for the Year Ended 31 December 2023
| Total | Total | |
|---|---|---|
| Unrestricted | Unrestricted | |
| Funds | Funds | |
| 2023 | 2022 | |
| £ | £ | |
| Income and Endowments from: | ||
| Donations and legacies | 34,188 | 8,998 |
| Total income | 34,188 | 8,998 |
| Expenditure on: | ||
| Charitable activities | (26,220) | (13,351) |
| Total expenditure | (26,220) | (13,351) |
| Net expenditure | 7,968 | (4,353) |
| Net movement in funds | 7,968 | (4,353) |
| Reconciliation of funds | ||
| Total funds brought forward | 431 | 5,264 |
| Total funds carried forward | 8,399 | 911 |
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
Friends of Or Meir and Bracha
Detailed Statement of Financial Activities for the Year Ended 31 December 2023 (continued)
| Donations and legacies Legacies and bequests Charitable activities Charitable donations Accountancy fees |
Total 2023 £ 34,188 34,188 (25,650) (570) (26,220) |
Total 2022 £ 8,998 8,998 (12,751) (600) (13,351) |
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