REGISTERED COMPANY NUMBER: 07967938 (England and Wales) REGISTERED CHARITY NUMBER: 1146950
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
FOR
BEIT HALOCHEM UK
Numera Partners LLP Statutory Auditors 4th Floor Charles House 108-110 Finchley Road London NW3 5JJ
BEIT HALOCHEM UK
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Report of the Independent Auditors | 6 | to | 8 |
| Statement of Financial Activities | 9 | ||
| Statement of Financial Position | 10 | ||
| Statement of Cash Flows | 11 | ||
| Notes to the Statement of Cash Flows | 12 | ||
| Notes to the Financial Statements | 13 | to | 20 |
| Detailed Statement of Financial Activities | 21 | to | 22 |
BEIT HALOCHEM UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2023
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 28 February 2023. 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).
OBJECTIVES AND ACTIVITIES
Objectives
Beit Halochem UK aims to raise funds for the four current Beit Halochem Rehabilitation Centres in Israel, supporting disabled veterans and victims of terror with lifelong facilities and assistance. Additionally, the UK charity seeks to create awareness within the UK community about the Organisations valuable work in Israel, ensuring a sustained funding stream for the future.
The charity can be influenced by various factors, both internal and external, many of which are beyond the control of the CEO and Trustees. One recent positive factor that affected the charity was the lifting of global COVID restrictions. This allowed the charity to resume face-to-face meetings and hold donor events, resulting in a significant increase in funds raised. However, there were also negative impacts, such as sudden staff turnover, leading to the CEO taking on additional roles and responsibilities. Fortunately, in October 2022, a new staff member with extensive experience within the Jewish community was hired to address this issue.
Another factor that could impact the funds raised is the ongoing cost-of-living crisis in the UK. If this crisis persists, it may inevitably affect our donors financially.
Information regarding the Organisation in Israel
Established in 1949 (known as ZDVO in Israel) following the War of Independence, the Organisation is the sole registered charity in Israel with legal responsibility for the wellbeing of disabled veterans.
Beit Halochem offers a wide range of specialised services, including recreation, sports facilities, physiotherapy, hydrotherapy, and counselling, to rehabilitate disabled veterans and victims of terror. The Centres, open to all 51,000 members and their families, are inclusive and do not discriminate based on background.
Currently, there are four Centres located in Tel Aviv, Jerusalem, Haifa, and Beer Sheva. Additionally, construction of a fifth Centre in Ashdod began in September 2018. Once completed, it will cater to over 6,500 veterans and their families.
For many disabled veterans and victims of terror, Beit Halochem becomes a lifelong support system. Its exceptional services have garnered global recognition, symbolising a beacon of care for those who sacrificed so much in defence of their country.
Beit Halochem UK operates with one full-time paid and one half-time staff members, a network of dedicated volunteers, and a board of trustees committed to the objectives of Beit Halochem.
Activities
Looking back on the past 11 years of Beit Halochem UK, we can take immense pride in the unwavering support provided to 51,000 IDF injured veterans, victims of terror, and their families. As a unique charity, Beit Halochem restores purpose, self-esteem, and dignity to our wounded soldiers and their families, offering lifelong assistance.
So, what have we accomplished in the last decade? We have brought wounded IDF and UK veterans to numerous primary and secondary schools, where they shared their inspiring and resilient stories. Additionally, we organised for schools and youth organisations from the UK, for over 3,000 students to visit one of the four Beit Halochem centres in Israel.
Beit Halochem UK played a pivotal role in creating the groundbreaking Veteran Games and Conference in Israel. The inaugural programme took place in 2019 and due to its success was repeated in 2022 and 2023. This extraordinary initiative takes place at our Tel Aviv and Jerusalem centres, bringing together sixty wounded UK military veterans and their families (180 in total) with wounded Israeli veterans for five days of sports competitions and cultural activities in Israel. Furthermore, we hosted the first UK/Israel Conference on physical and mental rehabilitation in 2019, which received resounding success and was repeated in 2022 in Israel.
Throughout this financial year, we have contributed to various projects, including covering the annual running costs of our four rehabilitation facilities. Additionally, we funded activities at the Young Members club, provided financial assistance towards education and sporting scholarship programs, empowering our members to achieve new heights, and supported several significant capital projects across the four Beit Halochem facilities.
Public benefit
The Trustees confirm their compliance with the duty to have due regard to the public benefit guidance (section 17 of the Charities Act 2011) published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities. The aim of the charity has always been to assist in the raising of funds for those who have been injured whilst serving as well injured though acts of terror.
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BEIT HALOCHEM UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2023
ACHIEVEMENT AND PERFORMANCE
Charitable activities
In the fiscal year 2022/2023, the charity achieved a remarkable fundraising success, raising over £1.95 million, a substantial increase of £1.15m compared to the previous year. (This is in line with the financial aims of the charity set out by the Trustees, to increased funds raised and funds sent to Israel year on year). Of the £1.95m raised by BHUK £1.6m has been reflected in the financial statements as £343k of donations raised by BHUK were directly transferred to the Israeli branch of the charity and can therefore not be included in the financial statements which is in line with accounting policies of the charity commission.
With the re-emergence of physical events, following the COVID pandemic, the Charity managed to organise a plethora of successful events including numerous new initiatives which met the needs of all donors both young and old. These included the annual Whisky Tasting evening, a Patrons Wine Dinner which raised £140,000, the launch of the 2022 Veteran Games, It's A Knockout an event that attracted 740 children, an informal business breakfast as well as our 10-year anniversary Gala Dinner. The dinner itself took place at the Royal Lancaster Hotel and saw over 400 donors gather for an exciting evening with VIP guest, the Former President of Israel, Reuven Rivlin. The event was a phenomenal success raising more than £950k more than has raised at previous year.
As part of the BHUK wellbeing educational programme, a selection of Veteran Games participants visited numerous schools to share their stories of their ongoing rehabilitation, the part the Veteran Games has played in this and, more generally, the part developing resilience can play in supporting overall wellbeing. Since its inception in June 2022 3100 teenagers from a diverse mix of schools got to hear directly from members of the UK / Israeli veteran communities and learn about the strategies they employ when coping with their own personal battles. This programme will continue during the 2023/2024 academic year.
To maintain strong connections with donors, the charity utilises monthly E-newsletters, social media, and its website platform for regular communication. Moreover, the annual magazine was distributed to the entire database of 3,800 individuals, operating both digital and postal methods of delivery.
The second Veteran Games and Conference took place in Israel in May 2022. The Games brought together 160 injured UK military veterans and family members with a similar number of injured Israeli army veterans for 5 days of sporting competition. Alongside the competition the participants also enjoyed a varied social and cultural programme. This experience gave the veterans the opportunity to spend time with their families whilst providing them with a unique insight into Israel's rich culture and history. The UK team for the Games was made up of veterans affiliated to leading British military charities and rehabilitation organisations including the Royal Marines Charity, RAF Benevolent Fund, Rock2Recovery, Veterans Scotland, the Not Forgotten Association, SSAFA, Felix Fund, Blind Veterans UK and the Association of Jewish Ex-Service Men and Women (AJEX). The Games were privately funded by a select group of generous UK Family Trusts and Foundations and these funds remain separate to those raised for Beit Halochem UK.
Communication and Complaints:
The charity logs all feedback, whethere positive or negative. Beit Halochem UK did not receive any complaints due to any of the activities undertaken within the timeframe of the financial reporting period.
FINANCIAL REVIEW
Financial position
In 2023, our total income was £2,130,497 (2022: £1,233,139) leading to an overall increase in charitable income of £897,358 of which it should be noted that £518,000 was due to the Veteran Games and so £379,358 represents the actual increase in donations raised. .
Reserves policy
At the balance sheet date of 28 February 2023 the total reserves were £98,485 (2022: £265,864) of which £98,485 were unrestricted funds.
The charity carefully manages its funds to guarantee a continuous availability of running expenses. These expenses, totalling £25k per month, encompass salaries, rent, and general operational costs. To maintain financial stability, the Trustees and CEO work together to ensure that a minimum of three months' worth of expenses is consistently held in the bank account, securing the charity's ongoing operations.
FUTURE DEVELOPMENTS
The UK charity remains committed to raising funds and raising awareness for Beit Halochem, hosting a full calendar of events. Additionally, the charity will continue its collaboration with schools / youth movements and local communities to expand awareness of its mission to a broader audience. For 2023/2024, the charity has already scheduled a diverse range of events to cater to its donors' preferences. Furthermore, the charity anticipates receiving two significant legacies, totalling approximately £1.4 million.
PLANS FOR FUTURE PERIODS
Our goal is to expand our influence among young people and young professionals through events, sports challenges, and social media. Additionally, we aim to strengthen our connections with both Jewish and non-Jewish schools and extend outreach to Jewish communities in London and other areas. Alongside our regular annual events, we intend to launch various fundraising programs this year, appealing to a wider range of donors for the charity. The CEO will persist in targeting trusts, foundations, and high net worth individuals to enhance donation income.
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BEIT HALOCHEM UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Charity is controlled by its governing document, a deed of trust and constitutes a limited company limited by guarantee as defined by companys Act 2006.
Recruitment and appointment of new trustees
Trustees are appointed according to the Articles of Association.
Organisational structure
The charity is administered by the board of trustees. In February 2012, Spencer Gelding assumed the role of Chief Executive and is responsible for overseeing the day-to-day affairs of the charity. Dina Kestenbaum was appointed Operations Manager in October 2022, replacing Karina Shulman and her responsibilities include managing the PR and Marketing for Beit Halochem UK, establishing, and maintaining links between UK and Israeli Veteran Organisations, and collaborating closely with the CEO on community projects and fundraising initiatives.
Regarding pay arrangements, the trustees hold the responsibility of overseeing the charity's pay structures and approving pay increases. These decisions are typically based on the charity's financial position as well as taking into account similar remuneration packages in similarly sized charities,
Induction and training of new trustees
New trustees undergo a briefing on their legal obligations under company and charity law.
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.
The Trustee's Board has conducted a review of the major risks to which the charity is exposed, where appropriate establishing or strengthening systems to mitigate the risks identified.
The risk register covers the following area:
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Governance, regulatory and compliance risks
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Financial risks
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Operational risks
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Information governance, IT security and business continuity
The actions taken to address the main risks during the period have been:
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Governance, regulatory and compliance risks - these risks are regularly addressed at our quarterly board meeting. Each of our trustees undertakes a particular role within the board, with one responsible for working directly alongside the CEO managing the governance of the charity.
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Financial risks - as stated, the charity carefully manages the funds of the charity to guarantee a continuous availability of running expenses. These expenses, totalling £25k per month, encompass salaries, rent, and general operational costs. To maintain financial stability, the Trustees and CEO work together to ensure that a minimum of three months' worth of expenses is consistently held in the bank account, securing the charity's ongoing operations.
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Operational risks - Systems and notes are in place to ensure that anyone of the Trustees could run the short for a prolong period should anything happen to the CEO. Activity reports are regularly sent by the CEO to the trustees to ensure that are regularly updated on the activities of the charity.
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Information governance, IT security and business continuity - The charity employs the services of an external IT company to ensure that all sensitive information is protected with advanced security measures including the database, online donation platform and emails and sensitive documents produced by the CEO and Operations Manager of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07967938 (England and Wales)
Registered Charity number
1146950
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BEIT HALOCHEM UK
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 28 FEBRUARY 2023
Registered office
Suite 3 One Bridge Lane London NW11 0EA
Trustees
Daniel Naftalin Nathaniel Meyohas Susan Kahn Orly Wolfson Andrew Wolfson Daniel Kattan David Tahan
Auditors
Numera Partners LLP Statutory Auditors 4th Floor Charles House 108-110 Finchley Road London NW3 5JJ
Bankers
Lloyds Bank Nottinghill Gate PO BOX 1000 BX1 1LT
Website: https://bhuk.org/
COMMENCEMENT OF ACTIVITIES
The charity was incorporated on 28 February 2012 and it was granted charitable status on 19th April 2012 under registration number 1146950. The charity is governed by its Memorandum and Articles of Association and is a Private Company Limited by Guarantee.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Beit Halochem UK 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) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
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.
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BEIT HALOCHEM UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2023
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
AUDITORS
The auditors, Numera Partners LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.............................................................................. Andrew Wolfson - Trustee
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BEIT HALOCHEM UK
Opinion
We have audited the financial statements of Beit Halochem UK (the 'charitable company') for the year ended 28 February 2023 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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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 28 February 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; 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
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 charitable company'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.
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 this gives rise to a material misstatement in the financial statements themselves. 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.
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.
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BEIT HALOCHEM UK
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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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.
We consider that our procedures are highly capable of detecting irregularities, including fraud. The engagement team collectively have the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.
During the planning of the audit, discussions were held with key entity staff to ensure;
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an understanding of the legal and regulatory framework,
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the entity's policies and procedures on compliance with laws and regulations,
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the entity's policies and procedures on fraud risk including knowledge of any actual, suspected or alleged fraud.
Audit procedures to detect material misstatements in respect of irregularities are outlined below:
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Enquiry of management, those charged with governance and the entity’s solicitors around actual and potential litigation and claims; - Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
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Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness;
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reading minutes of meetings of those charged with governance;
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Concluding on the appropriateness of the directors 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 companys ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors 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 the the date of our auditors report. However, future events or conditions may cause the company to cease to continue as a going concern.
Audit procedures to address the risk of fraud through management bias and override controls, we;
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Performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to indemnify unusual relationships;
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investigated the rationale behind significant or unusual transactions
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondcne, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve collusion, forgery, deliberate concealment and omissions, misrepresentations, or the override of internal control.
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.
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BEIT HALOCHEM UK
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.
Giles Cohen (Senior Statutory Auditor) for and on behalf of Numera Partners LLP Statutory Auditors 4th Floor Charles House 108-110 Finchley Road London NW3 5JJ Date: .............................................
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BEIT HALOCHEM UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies - Unrestricted funds 3 Donations and legacies - Restricted funds - General 4 Donations and legacies - Restricted funds - Veteran games 5 Total EXPENDITURE ON Raising funds 6 Charitable activities 7 Grants to Israel - General Grants to Israel - Veteran games Staff costs Governance Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 1,612,341 - 146 1,612,487 471,174 1,096,579 - 201,070 11,043 1,779,866 (167,379) 265,864 98,485 |
Restricted funds £ - - 518,010 518,010 - - 518,010 - - 518,010 - - - |
28.2.23 Total funds £ 1,612,341 - 518,156 2,130,497 471,174 1,096,579 518,010 201,070 11,043 2,297,876 (167,379) 265,864 98,485 |
28.2.22 Total funds £ 1,152,246 30,893 50,000 1,233,139 137,245 615,330 102,284 209,453 9,458 1,073,770 159,369 106,495 265,864 |
|---|---|---|---|---|
The notes form part of these financial statements
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BEIT HALOCHEM UK
STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023
| Unrestricted funds Notes £ CURRENT ASSETS Debtors 15 4,099 Cash at bank 104,173 108,272 CREDITORS Amounts falling due within one year 16 (9,787) NET CURRENT ASSETS 98,485 TOTAL ASSETS LESS CURRENT LIABILITIES 98,485 NET ASSETS 98,485 FUNDS 17 Unrestricted funds TOTAL FUNDS |
Restricted funds £ - - - - - - - |
28.2.23 Total funds £ 4,099 104,173 108,272 (9,787) 98,485 98,485 98,485 98,485 98,485 |
28.2.22 Total funds £ 216,033 91,311 307,344 (41,480) 265,864 265,864 265,864 265,864 265,864 |
|---|---|---|---|
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 ............................................. and were signed on its behalf by:
............................................. Andrew Wolfson - Trustee
............................................. Nathaniel Meyohas - Trustee
The notes form part of these financial statements
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BEIT HALOCHEM UK
| STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 28 FEBRUARY 2023 28.2.23 Notes £ Cash flows from operating activities Cash generated from operations 1 12,716 Net cash provided by operating activities 12,716 Cash flows from investing activities Interest received 146 Net cash provided by investing activities 146 Change in cash and cash equivalents in the reporting period 12,862 Cash and cash equivalents at the beginning of the reporting period 91,311 Cash and cash equivalents at the end of the reporting period 104,173 |
28.2.22 £ 35,082 35,082 - - 35,082 56,229 91,311 |
|---|---|
The notes form part of these financial statements
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BEIT HALOCHEM UK
NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 28 FEBRUARY 2023
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| ACTIVITIES | ||||
|---|---|---|---|---|
| 28.2.23 | 28.2.22 | |||
| £ | £ | |||
| Net (expenditure)/income for the reporting period (as per the Statement of | ||||
| Financial Activities) | (167,379) | 159,369 | ||
| Adjustments for: | ||||
| Interest received | (146) | - | ||
| Decrease/(increase) in debtors | 211,934 | (152,379) | ||
| (Decrease)/increase in creditors | (31,693) | 28,092 | ||
| Net cash provided by operations | 12,716 | 35,082 | ||
| ANALYSIS OF CHANGES IN NET FUNDS | ||||
| Net cash | At 1.3.22 £ |
Cash flow £ |
At 28.2.23 £ |
|
| Cash at bank | 91,311 | 12,862 | 104,173 | |
| 91,311 | 12,862 | 104,173 | ||
| Total | 91,311 | 12,862 | 104,173 |
2. ANALYSIS OF CHANGES IN NET FUNDS
The notes form part of these financial statements
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BEIT HALOCHEM UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
1. STATUTORY INFORMATION
The presentation currency of the financial statements is the Pound Sterling (£) & is rounded to the nearest pound.
2. 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.
Critical accounting judgements and key sources of estimation uncertainty
Preparation of the financial statements requires the trustees and management to make significant judgements and estimates. The areas in the financial statements where these judgements and estimates have been made include:
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determining the valuation of gifts in kind
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the allocation of support costs to charitable activities
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determining the valuation of debtors and if any indication exists at the assessment date where a debtor may be unable to meet their obligation
In addition to the above, there are currently global issues where the impact is not currently possible to evaluate all the potential implications for the charities activates, beneficiary, funders, suppliers and the wider economy.
Incoming resources
All resources are recognised in the Statement of Financial Activities when the charity is legally entitled to the funds and the amounts can be quantified with reasonable accuracy.
Income comprises donations, legacies and bank interest.
Donations, including gift aid are recognised when the charity has confirmation of both the amount and the settlement date. In the event of donations pledged but not received, the amount will be accrued for only where the receipt is considered probably.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment.
Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them.
There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above.
Any other proposed transfer between funds would be considered on the particular circumstances.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
Page 13
BEIT HALOCHEM UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
2. ACCOUNTING POLICIES - continued
Resources expended
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.
Cost of generating funds
Cost of generating funds comprises all costs associated with raising additional funds for the Charity through advertising and other sales.
Charitable activities
Charitable activities comprise all costs directly incurred in undertaking activities to fulfil the Charity's objects, together with any support costs allocated in accordance with the support cost accounting policy as described below.
Governance costs
Governance costs comprise all costs incurred in running the Charity itself as an organisation and its compliance with regulation and good practice.
Support costs
Administration and head office costs not directly attributable to particular charitable activities are apportioned over the relevant activities pro rata to the value of the income derived from each charitable activity.
Debtors
Debtors are recognised on their settlement amount, less any provision for non-recoverability.
Cash at bank in hand
Cash at bank in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.
Creditors and provisions
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt.
Fund structure
Unrestricted general funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the charity's charitable objective and is at the discretion of the trustees.
Restricted funds comprise of monies raised for, or their use is restricted to a specific purpose or contributions are subject to donor imposed conditions.
Financial Instruments
The charity holds only basic financial instruments as defined by FRS102. The financial assets and the financial liabilities of the charity and their measurement basis are as follows:
Financial assets - trade debtors and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayment are not financial instruments.
Cash at bank - clarified as basic financial instruments and measured at face value.
Financial liabilites - accruals and other creditors are financial instruments and are measued at amortised cost.
Going Concern
The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements.
After reviewing the charity's forecasts and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity, therefore continues to adopt the going concern policy in preparing its financial statements.
continued...
Page 14
BEIT HALOCHEM UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
3. DONATIONS AND LEGACIES - UNRESTRICTED FUNDS
| General donations- inc local events Gift aid tax recovery Annual fundraising campaign Legacy donations |
28.2.23 £ 1,432,444 45,898 (1) 134,000 1,612,341 |
28.2.22 £ 1,109,705 42,540 1 - 1,152,246 |
|---|---|---|
The Trustees have decided in the year to reallocate all donations under general donations as they believe this to provide a more representative view of donations received compared to historical allocations of donations received.
4. DONATIONS AND LEGACIES - RESTRICTED FUNDS - GENERAL
| General donations- inc local events 5. DONATIONS AND LEGACIES - RESTRICTED FUNDS - VETERAN GAMES General donations- inc local events Deposit account interest 6. RAISING FUNDS Raising donations and legacies Advertising and PR Cost of fundraising activities Local projects Support costs 7. CHARITABLE ACTIVITIES COSTS |
28.2.23 £ - 28.2.23 £ 518,010 146 518,156 28.2.23 £ 105,309 243,983 74,274 47,608 471,174 |
28.2.22 £ 30,893 28.2.22 £ 50,000 - 50,000 28.2.22 £ 57,497 15,030 25,079 39,639 137,245 |
|---|---|---|
| Grants to Israel - General Grants to Israel - Veteran games Staff costs Governance |
Grant funding of activities (see note 8) £ 1,096,579 518,010 - - 1,614,589 |
Support costs (see note 9) £ - - 201,070 11,043 212,113 |
Totals £ 1,096,579 518,010 201,070 11,043 1,826,702 |
|---|---|---|---|
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Page 15
BEIT HALOCHEM UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
8. GRANTS PAYABLE
| Grants to Israel - General Grants to Israel - Veteran games SUPPORT COSTS Management £ Raising donations and legacies - Staff costs 201,070 Governance - 201,070 Other £ Raising donations and legacies 38,551 Staff costs - Governance - 38,551 NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Auditors' remuneration Other operating leases |
28.2.23 £ 1,096,579 518,010 1,614,589 Finance £ 6,752 - - 6,752 Governance costs £ - - 11,043 11,043 28.2.23 £ 4,500 15,950 |
28.2.22 £ 615,330 102,284 717,614 Information technology £ 2,305 - - 2,305 Totals £ 47,608 201,070 11,043 259,721 28.2.22 £ 4,200 9,450 |
|---|---|---|
9. SUPPORT COSTS
10. NET INCOME/(EXPENDITURE)
11. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the year ended 28 February 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2023 nor for the year ended 28 February 2022.
12. STAFF COSTS
| Wages and salaries The average monthly number of employees during the year was as follows: Engaged on management and fundraising |
28.2.23 £ 201,070 201,070 28.2.23 2 |
28.2.22 £ 209,453 209,453 28.2.22 2 |
|---|---|---|
continued...
Page 16
BEIT HALOCHEM UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
12. STAFF COSTS - continued
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
£120,001 - £130,000
| 28.2.23 | 28.2.22 |
|---|---|
| 1 | 1 |
The key management personnel of the charity comprise of the trustees and the Chief Executive Officer. The total employee benefits, including social security costs, employer pension contributions of the key management personnel of the charity were £162,000 (year to 28 February 2022 £150,000)
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - YEAR ENDED 2022
| INCOME AND ENDOWMENTS FROM Donations and legacies - Unrestricted funds Donations and legacies - Restricted funds - General Donations and legacies - Restricted funds - Veteran games Total EXPENDITURE ON Raising funds Charitable activities Grants to Israel - General Grants to Israel - Veteran games Staff costs Governance Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 1,152,246 - - 1,152,246 137,245 584,437 52,284 209,453 9,458 992,877 159,369 106,495 265,864 |
Restricted funds £ - 30,893 50,000 80,893 - 30,893 50,000 - - 80,893 - - - |
Total funds £ 1,152,246 30,893 50,000 1,233,139 137,245 615,330 102,284 209,453 9,458 1,073,770 159,369 106,495 265,864 |
|---|---|---|---|
14.
OPERATING LEASES
As at 28 February 2023, the charity was committed to total future minimum lease payments under non-cancellable operating leases as follows:
| Office premises | £ | £ | |
|---|---|---|---|
| Within one year | 6,400 | Nil | |
| Within two to five years | Nil | Nil |
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Page 17
BEIT HALOCHEM UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors Prepayments 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Accrued expenses 17. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Grants to Isreal - Veteran games TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1.3.22 £ 265,864 265,864 Incoming resources £ 1,612,487 518,010 2,130,497 At 1.3.21 £ 106,495 106,495 |
28.2.23 £ - 3,637 462 4,099 28.2.23 £ (650) 5,937 4,500 9,787 Net movement in funds £ (167,379) (167,379) Resources expended £ (1,779,866) (518,010) (2,297,876) Net movement in funds £ 159,369 159,369 |
28.2.22 £ 213,987 1,291 755 216,033 28.2.22 £ 29,836 7,444 4,200 41,480 At 28.2.23 £ 98,485 98,485 Movement in funds £ (167,379) - (167,379) At 28.2.22 £ 265,864 265,864 |
|---|---|---|---|
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BEIT HALOCHEM UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Grants to Israel - General Grants to Isreal - Veteran games TOTAL FUNDS |
Incoming resources £ 1,152,246 30,893 50,000 80,893 1,233,139 |
Resources expended £ (992,877) (30,893) (50,000) (80,893) (1,073,770) |
Movement in funds £ 159,369 - - - 159,369 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
18.
| Net movement At 1.3.21 in funds £ £ Unrestricted funds General fund 106,495 (8,010) TOTAL FUNDS 106,495 (8,010) A current year 12 months and prior year 12 months combined net movement in funds, included in the above a Incoming Resources resources expended £ £ Unrestricted funds General fund 2,764,733 (2,772,743) Restricted funds Grants to Israel - General 30,893 (30,893) Grants to Isreal - Veteran games 568,010 (568,010) 598,903 (598,903) TOTAL FUNDS 3,363,636 (3,371,646) RELATED PARTY DISCLOSURES The charity received cash donations during the year. |
Net movement At 1.3.21 in funds £ £ Unrestricted funds General fund 106,495 (8,010) TOTAL FUNDS 106,495 (8,010) A current year 12 months and prior year 12 months combined net movement in funds, included in the above a Incoming Resources resources expended £ £ Unrestricted funds General fund 2,764,733 (2,772,743) Restricted funds Grants to Israel - General 30,893 (30,893) Grants to Isreal - Veteran games 568,010 (568,010) 598,903 (598,903) TOTAL FUNDS 3,363,636 (3,371,646) RELATED PARTY DISCLOSURES The charity received cash donations during the year. |
Net movement At 1.3.21 in funds £ £ Unrestricted funds General fund 106,495 (8,010) TOTAL FUNDS 106,495 (8,010) A current year 12 months and prior year 12 months combined net movement in funds, included in the above a Incoming Resources resources expended £ £ Unrestricted funds General fund 2,764,733 (2,772,743) Restricted funds Grants to Israel - General 30,893 (30,893) Grants to Isreal - Veteran games 568,010 (568,010) 598,903 (598,903) TOTAL FUNDS 3,363,636 (3,371,646) RELATED PARTY DISCLOSURES The charity received cash donations during the year. |
At 28.2.23 £ 98,485 98,485 re as follows: Movement in funds £ (8,010) - - - (8,010) |
|---|---|---|---|
| Related Party Trustees Total |
2023£ 173,500 |
20222£ 125,000 |
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BEIT HALOCHEM UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
19. ULTIMATE CONTROLLING PARTY
As a company limited by guarantee, the company is not under the control of any one individual. All decisions are taken by the Board of Directors who are the trustees of the company.
Page 20
BEIT HALOCHEM UK
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2023
| INCOME AND ENDOWMENTS Donations and legacies - Unrestricted funds General donations- inc local events Gift aid tax recovery Annual fundraising campaign Legacy donations Donations and legacies - Restricted funds - General General donations- inc local events Donations and legacies - Restricted funds - Veteran games General donations- inc local events Deposit account interest Total incoming resources EXPENDITURE Raising donations and legacies Advertising and PR Cost of fundraising activities Local projects Charitable activities Grants to institutions Support costs Management Wages Finance Bank charges Information technology Telephone Other Rent Insurance Postage and stationery Sundries Motor and travelling Governance costs Auditors' remuneration Accountancy and legal fees |
28.2.23 £ 1,432,444 45,898 (1) 134,000 1,612,341 - 518,010 146 518,156 2,130,497 105,309 243,983 74,274 423,566 1,614,589 201,070 6,752 2,305 15,950 1,316 7,085 5,583 8,617 38,551 4,500 6,543 11,043 |
28.2.22 £ 1,109,705 42,540 1 - 1,152,246 30,893 50,000 - 50,000 1,233,139 57,497 15,030 25,079 97,606 717,614 209,453 4,261 1,800 9,450 1,638 3,110 15,246 4,134 33,578 4,200 5,258 9,458 |
|---|---|---|
This page does not form part of the statutory financial statements
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BEIT HALOCHEM UK
| Total resources expended Net (expenditure)/income |
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2023 |
28.2.23 £ 2,297,876 (167,379) |
28.2.22 £ 1,073,770 159,369 |
|---|---|---|---|
This page does not form part of the statutory financial statements
Page 22