REGISTERED COMPANY NUMBER: 07330341 (England and Wales) REGISTERED CHARITY NUMBER: 1138167
EZER BEKOVOID LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020
Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS
EZER BEKOVOID LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Report of the Independent Auditors | 4 | to | 5 |
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Cash Flow Statement | 8 | ||
| Notes to the Cash Flow Statement | 9 | ||
| Notes to the Financial Statements | 10 | to | 16 |
EZER BEKOVOID LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 OCTOBER 2020
TRUSTEES C S Goldfinger (died 28 November 2020) A Langberg J A Ost J Teitelbaum REGISTERED OFFICE 6 Grosvenor Way London E5 9ND REGISTERED COMPANY 07330341 (England and Wales) NUMBER REGISTERED CHARITY 1138167 NUMBER AUDITORS Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS BANKERS United Mizrahi Tefahot Bank Ltd 30 Old Broad Street London EC2N 1HQ
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EZER BEKOVOID LIMITED (REGISTERED NUMBER: 07330341)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2020. The trustees have adopted the provisions of 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).
Reference and administrative information
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
OBJECTIVES AND ACTIVITIES
Objectives and aims for public benefit
The objects of the charity are the advancement of the Orthodox Jewish Faith, advancement of education, relief of poverty and such other purposes as are recognised by English Law as charitable.
The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives. The charity carries out its objects by grantmaking.
Grant making policy
All applications to the charity for grants are considered carefully by the trustees at regular meetings. On most occasions, if the trustees feel that the application meets their approval in principle, they will meet applicants face to face and discuss with them details of the application. The trustees usually then have a further meeting before making a decision as to whether assistance should be granted, and if so, to what level. All grants must be approved by the unanimous agreement of the Trustees.
ACHIEVEMENT AND PERFORMANCE
Activities
Further monies were raised for the Keser Malchus Girls' School and Bachatzros Kodshecho Boys' School. The charity has also donated grants and food to individuals in Israel who have found themselves in particular financial hardship.
FINANCIAL REVIEW
Financial position
The charity receives its income by way of donations. There was a decrease in income for the year and the trustees reduced grantmaking. There was a deficit for the year.
Reserves policy
The trustees do not seek to maintain significant levels of reserves, other than to ensure that they can continue the activities of the charity.
FUTURE PLANS
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes.The outbreak of the COVID-19 during 2020 has presented risks which are beyond the control of the charity and represents uncertainty to the revenue and valuation of its assets which cannot presently be quantified. The trustees are able to control the charity's grant making and as such the trustees believe the charity will continue as a going concern.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 29 July 2010.
Organisational structure
The day to day affairs of the charity are administered by the trustees. The power to appoint new trustees is vested in the trustees. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
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EZER BEKOVOID LIMITED (REGISTERED NUMBER: 07330341)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Ezer Bekovoid Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those 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 Charity SORP;
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make judgements and 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 charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Sugarwhite Meyer Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 23 December 2021 and signed on its behalf by:
J Teitelbaum - Trustee
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF EZER BEKOVOID LIMITED
Opinion
We have audited the financial statements of Ezer Bekovoid Limited (the 'charitable company') for the year ended 31 October 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, 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 (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 charitable company's affairs as at 31 October 2020 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; and
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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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
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the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
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the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
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 Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Report of the Trustees has been prepared in accordance with applicable legal requirements.
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF EZER BEKOVOID LIMITED
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
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 returns; or
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certain disclosures of trustees' 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; or
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the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.
Our 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 a Report of the Independent Auditors 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.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Use of our report
This report is made solely to the charitable company'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 charitable company's members those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
E Meyer FCA BSc (Senior Statutory Auditor) for and on behalf of Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS
23 December 2021
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EZER BEKOVOID LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2020
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Charitable activities Other Total Net gains on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2020 Unrestricted funds £ 1,066,322 44 1,066,366 5,205 1,363,152 18,916 1,387,273 76,451 (244,456) (26,238) (270,694) |
2019 Total funds £ 1,387,043 39 1,387,082 5,245 1,529,189 23,558 1,557,992 306,966 136,056 (162,294) (26,238) |
|---|---|---|
CONTINUING OPERATIONS
The statement of financial activities includes all gains and losses arising in the year.
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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EZER BEKOVOID LIMITED (REGISTERED NUMBER: 07330341)
BALANCE SHEET 31 OCTOBER 2020
| Notes FIXED ASSETS Investment property 12 CURRENT ASSETS Debtors 13 Cash at bank CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 15 NET ASSETS/(LIABILITIES) FUNDS 16 Unrestricted funds: General fund Fair value reserve TOTAL FUNDS |
2020 Total funds £ 1,050,000 2,077,684 38,012 2,115,696 (656,438) 1,459,258 2,509,258 (2,779,952) (270,694) (654,111) 383,417 (270,694) (270,694) |
2019 Total funds £ 950,000 1,186,485 165,768 1,352,253 (1,450,461) (98,208) 851,792 (878,030) (26,238) (333,204) 306,966 (26,238) (26,238) |
|---|---|---|
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 December 2021 and were signed on its behalf by:
J Teitelbaum - Trustee
The notes form part of these financial statements
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EZER BEKOVOID LIMITED
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 OCTOBER 2020
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash (used in)/provided by operating activities Cash flows from investing activities Purchase of investment property Interest received Net cash used in investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2020 £ (85,335) (18,916) (104,251) (23,549) 44 (23,505) (127,756) 165,768 38,012 |
2019 £ 831,401 (23,558) 807,843 (643,034) 39 (642,995) 164,848 920 165,768 |
|---|---|---|
The notes form part of these financial statements
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EZER BEKOVOID LIMITED
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 OCTOBER 2020
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Gain on investments Interest received Interest paid Increase in debtors Increase in creditors Net cash (used in)/provided by operations |
2020 £ (244,456) (76,451) (44) 18,916 (891,199) 1,107,899 (85,335) |
2019 £ 136,056 (306,966) (39) 23,558 (1,010) 979,802 831,401 |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.11.19 | Cash flow | At 31.10.20 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 165,768 | (127,756) | 38,012 |
| 165,768 | (127,756) | 38,012 | |
| Total | 165,768 | (127,756) | 38,012 |
The notes form part of these financial statements
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EZER BEKOVOID LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the amount expected to be received or paid and not discounted.
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EZER BEKOVOID LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020
2. DONATIONS AND LEGACIES
| Donations 3. INVESTMENT INCOME Deposit account interest 4. RAISING FUNDS Raising donations and legacies Fundraising costs Office expenses Printing, postage and advertising Investment management costs Insurance Aggregate amounts |
2020 2019 Unrestricted Total funds funds £ £ 1,066,322 1,387,043 2020 2019 Unrestricted Total funds funds £ £ 44 39 2020 2019 Unrestricted Total funds funds £ £ 54 588 769 2,800 3,262 1,673 4,085 5,061 2020 2019 Unrestricted Total funds funds £ £ 1,120 184 5,205 5,245 |
2020 2019 Unrestricted Total funds funds £ £ 1,066,322 1,387,043 2020 2019 Unrestricted Total funds funds £ £ 44 39 2020 2019 Unrestricted Total funds funds £ £ 54 588 769 2,800 3,262 1,673 4,085 5,061 2020 2019 Unrestricted Total funds funds £ £ 1,120 184 5,205 5,245 |
|---|---|---|
| 5,245 |
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EZER BEKOVOID LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020
5. CHARITABLE ACTIVITIES COSTS
| 5. CHARITABLE ACTIVITIES COSTS |
||||||
|---|---|---|---|---|---|---|
| Grant funding of Direct activities Costs (see (see note note 6) 7) £ £ Charitable activities 16,880 1,305,633 6. DIRECT COSTS OF CHARITABLE ACTIVITIES Visit of the Grand Rabbi 7. GRANTS PAYABLE Charitable activities The total grants paid to institutions during the year was as follows: Advancement of education Relief of poverty Advancement of religion Keser Malchus Bechatzros Kodshecho Others under £3,000 The total grants paid to individuals during the year was as follows: Relief of poverty Advancement of religion |
Support costs (see note 8) £ 40,639 2020 £ 16,880 2020 £ 1,305,633 2020 £ 1,003,040 - 1,225 1,004,265 |
Totals £ 1,363,152 |
||||
| 2019 £ 19,997 2019 £ 1,487,591 |
2019 £ 19,997 |
|||||
| 2019 £ 1,086,411 54,247 17,839 |
||||||
| 1,158,497 | ||||||
| 2019 £ 147,968 181,126 |
||||||
| 533,314 | ||||||
| 467,402 | ||||||
| 3,549 | ||||||
| 1,004,265 | ||||||
| 2020 £ 301,368 - 301,368 |
||||||
| 329,094 |
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EZER BEKOVOID LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020
8. SUPPORT COSTS
| Management £ Charitable activities 1,064 Support costs, included in the above, are as follows: Telephone Bank charges Professional fees Auditors' remuneration Auditors' remuneration for non audit work General expenses Legal and professional fees Foreign exchange losses |
Governance Finance costs Totals £ £ £ 1,809 37,766 40,639 2020 2019 Charitable Total activities activities £ £ 1,064 1,260 1,809 1,219 - 4,320 3,240 3,000 4,200 3,900 228 173 15,401 - 14,697 7,729 40,639 21,601 |
|---|---|
9. NET INCOME/(EXPENDITURE)
| Net income/(expenditure) is stated after charging/(crediting): | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Auditors' remuneration | 3,240 | 3,000 |
| Auditors' remuneration for non audit work | 4,200 | 3,900 |
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2020 nor for the year ended 31 October 2019.
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EZER BEKOVOID LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020
11. STAFF COSTS
There were no staff costs for the year ended 31 October 2020 nor for the year ended 31 October 2019.
The average monthly number of employees during the year was as follows:
| No employees received emoluments in excess of £60,000. 12. INVESTMENT PROPERTY FAIR VALUE At 1 November 2019 Additions Revaluation At 31 October 2020 NET BOOK VALUE At 31 October 2020 At 31 October 2019 13. DEBTORS Amounts falling due within one year: Other debtors Amounts falling due after more than one year: Other debtors Aggregate amounts |
2020 2020 £ 892,209 1,185,475 2,077,684 |
2019 £ 950,000 23,549 76,451 |
|---|---|---|
| 1,050,000 | ||
| 1,050,000 | ||
| 950,000 | ||
| 2019 £ 1,010 |
||
| 1,185,475 | ||
| 1,186,485 |
Other debtors falling due after more than one year comprise secured charitable loans made to Keser Malchus, a girls' school located in Israel.
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EZER BEKOVOID LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2020 £ Other creditors 648,997 Accruals and deferred income 7,441 656,438 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2020 £ Other creditors 2,779,952 16. MOVEMENT IN FUNDS Net At movement 1.11.19 in funds £ £ Unrestricted funds General fund (333,204) (320,907) Fair value reserve 306,966 76,451 (26,238) (244,456) TOTAL FUNDS (26,238) (244,456) Net movement in funds, included in the above are as follows: Incoming Resources Gains and resources expended losses £ £ £ Unrestricted funds General fund 1,066,366 (1,387,273) - Fair value reserve - - 76,451 1,066,366 (1,387,273) 76,451 TOTAL FUNDS 1,066,366 (1,387,273) 76,451 Comparatives for movement in funds Net At movement 1.11.18 in funds £ £ Unrestricted funds General fund (162,294) (170,910) Fair value reserve - 306,966 (162,294) 136,056 TOTAL FUNDS (162,294) 136,056 |
2019 £ 1,443,561 6,900 1,450,461 2019 £ 878,030 At 31.10.20 £ (654,111) 383,417 (270,694) (270,694) Movement in funds £ (320,907) 76,451 (244,456) (244,456) At 31.10.19 £ (333,204) 306,966 (26,238) (26,238) |
|---|---|
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EZER BEKOVOID LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Fair value reserve TOTAL FUNDS |
Incoming resources £ 1,387,082 - 1,387,082 1,387,082 |
Resources expended £ (1,557,992) - (1,557,992) (1,557,992) |
Gains and losses £ - 306,966 306,966 306,966 |
Movement in funds £ (170,910) 306,966 136,056 136,056 |
|---|---|---|---|---|
17. RELATED PARTY DISCLOSURES
Other debtors of £892,209, other payments of £18,196 (2019 - £23,558) and other creditors amounting to £1,263,463 (2019 - £1,147,547) are due to companies of which certain trustees of this charity have significant influence.
The charity received donations of £137,280 from companies in which some trustee have an interest.
18. GOING CONCERN
The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern notwithstanding the deficiency in net assets at the balance sheet date. The trustees consider this to be appropriate in view of the fact that the loan creditors have indicated that they will not demand repayment of the loans in the foreseeable future.
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