Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
**BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **CONSOLIDATED FINANCIAL STATEMENTS**
**FOR THE**
**YEAR ENDED 30 JUNE 2025**
**COMPANY REGISTRATION NUMBER 09649856 CHARITY NUMBER 1163637**
## **COHEN ARNOLD**
Chartered Accountants & Statutory Auditor New Burlington House 1075 Finchley Road LONDON NW11 0PU
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 30 JUNE 2025**
|**CONTENTS**|**PAGES**|
|---|---|
|Members of the Board and professional advisers|**1**|
|Trustees Annual Report|**2**|
|Independent auditor's report to the members|**10**|
|Statement of financial activities (incorporating the||
|income and expenditure account)|**14**|
|Balance sheets|**15**|
|Statement of Cash Flows|**17**|
|Notes to the financial statements|**18**|
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE) MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS**
**YEAR ENDED 30 JUNE 2025**
## **Reference and administrative details**
**Registered charity name** Bonei Olam Limited **Charity registration number** 1163637 **Company registration number** 09649856 **Principle office and registered** 130a Northwold Road **office** London E5 8RA UK **The trustees** Mr J Englander Mr C Reichberg Mrs E Weissman Mr A J Sprung Mr A D Leitner Mr B Rudzinski Mr I Moskovitz **Company secretary** Mr C Reichberg **Independent auditor** Cohen Arnold Chartered Accountants & Statutory Auditor New Burlington House 1075 Finchley Road LONDON NW11 0PU
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Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 30 JUNE 2025**
The trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and audited financial statements for the year ended 30 June 2025.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Legal structure**
Bonei Olam UK was originally founded as a charitable trust in 2004, created to support couples experiencing infertility. On 1 July 2017, the charity’s activities were transferred to a newly formed incorporated charity Bonei Olam Limited (charity number 1163637, company number 09649856). In the trustees’ view, this structure is better suited to the scale and nature of the charity’s work. The governing document is the Memorandum and Articles of Association.
## **Governance and management**
The charity is overseen by a board of seven trustees, none of whom receives payment for services rendered to the charity. The power to appoint new trustees rests with the board. Each trustee brings relevant skills to support the charity’s governance and continued growth, with collective experience spanning charity management, governance, and fundraising.
To deliver its strategy and objectives, the charity employs staff who manage and administer day-to-day operations. Trustees also take an active role in strategic management, in addition to their governance responsibilities.
## **Risk management**
The trustees regularly assess the risks facing the charity, maintaining an ongoing process to identify, evaluate and manage those risks. Key areas of concern include operational risks, the quality of support provided to those experiencing infertility, and financial sustainability. The trustees are satisfied that appropriate systems are in place to manage the charity’s risk exposure effectively.
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
Bonei Olam’s purpose is to support couples affected by infertility. The charity was founded by individuals who have themselves experienced the challenge of infertility. Its charitable object is ‘the relief of sickness amongst those who are suffering from infertility problems through the provision of financial assistance, resources, support and information provided in accordance with Jewish law and tradition.’
Bonei Olam works principally with Orthodox Jewish patients, for whom fertility treatments are often complicated by the requirements of Halacha (Jewish law). Its primary areas of operation are Barnet, Hackney, Haringey, Manchester and Gateshead, though it also receives referrals and provides services to patients across England and Europe.
The charity pursues its charitable object through the following activities:
- Providing information, guidance and advice to couples facing infertility.
- Advocating for patients to access the most appropriate and effective treatment.
- Offering financial support for infertility treatment where patients would otherwise face hardship or be unable to access care.
- Developing and initiating new services in partnership with other healthcare providers and organisations.
Throughout the year, Bonei Olam has continued to build on its existing services while launching new initiatives to meet the evolving needs of the community it serves.
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## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 30 JUNE 2025**
## **Improved patient advice and services**
This year, Bonei Olam provided sensitive, expert advice and support to 602 couples navigating the challenges of infertility. The quality of the charity’s work continues to be recognised and valued by both patients and clinicians alike. The charity’s impact is reflected in the following figures for the year:
- 73 babies were born during the last 12 months with Bonei Olam’s assistance.
- 301 couples were treated for primary infertility.
- 183 couples were treated for secondary infertility.
- 326 couples received advice, guidance and referrals, with Bonei Olam translating, explaining and advocating on their behalf with medical professionals.
- 108 couples had non-invasive fertility treatments funded (under £3,600 each).
- 74 couples had more invasive treatments funded (average £12,110 per couple).
The charity’s counsellors, both volunteer and employed, have continued to develop their professional expertise in a number of key areas:
- Maintaining and deepening specialist knowledge in the field of infertility, keeping pace with the latest medical developments.
- Cultivating strong, trusted relationships with clinicians across NHS and private settings.
- Expanding their understanding of the intersection between Jewish law and fertility care.
- Undertaking ongoing training in the emotional and psychological dimensions of supporting couples through infertility.
## **Patient Advocacy and Support**
Bonei Olam undertakes patient advocacy on two levels. At a systemic level, the charity liaises with fertility centres and clinicians to improve the care they offer particularly in areas where Jewish law intersects with clinical practice. Strong relationships have been cultivated with local NHS services, including clinicians, managers and commissioners, to ensure a seamless interface between NHS-funded pathways and private treatment. This has made NHS services increasingly accessible to eligible patients observing Orthodox Jewish practice, meaningfully reducing the financial burden on these families.
At an individual level, Bonei Olam supports each couple in identifying and accessing the optimal treatment plan for their circumstances. The charity’s refined approach to advising patients with Polycystic Ovarian Syndrome (PCOS) a leading cause of infertility has continued to yield significantly improved outcomes.
## **Financial support for medical treatments**
For many patients, the cost of fertility treatment is simply beyond reach. As the likelihood of a positive outcome diminishes with age, the absence of financial support can mean that some couples never have the family they hope for. Funding for couples who cannot be assisted through the NHS therefore remains Bonei Olam’s single largest area of expenditure.
The trustees continue to pursue strategies to reduce the cost of care while maintaining quality. This includes:
- Prioritising natural conception pathways, reducing the need for medical intervention wherever possible.
- Refining protocols for treating PCOS patients, enabling more women to conceive naturally and avoiding invasive procedures.
- Successful NHS advocacy, reducing the need for private diagnostics and treatment.
- Ongoing improvements to cost-effective procurement, enabling more affordable private treatment for patients not eligible for NHS pathways.
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Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 30 JUNE 2025**
Bonei Olam remains committed to delivering the best possible care at the lowest possible cost to its beneficiaries.
This year, the global Bonei Olam network marked a remarkable milestone, celebrating the fourteen thousandth baby born to parents who had received Bonei Olam’s support, and the 25th year of incorporating Bonei Olam into this world.
## **Financial support for medical treatments**
For many patients, the cost of fertility treatment is simply beyond reach. As the likelihood of a positive outcome diminishes with age, the absence of financial support can mean that some couples never have the family they hope for. Funding for couples who cannot be assisted through the NHS therefore remains Bonei Olam’s single largest area of expenditure.
The trustees continue to pursue strategies to reduce the cost of care while maintaining quality. This includes:
- Prioritising natural conception pathways, reducing the need for medical intervention wherever possible.
- Refining protocols for treating PCOS patients, enabling more women to conceive naturally and avoiding invasive procedures.
- Successful NHS advocacy, reducing the need for private diagnostics and treatment.
- Ongoing improvements to cost-effective procurement, enabling more affordable private treatment for patients not eligible for NHS pathways.
Bonei Olam remains committed to delivering the best possible care at the lowest possible cost to its beneficiaries.
This year, the global Bonei Olam network marked a remarkable milestone, celebrating the fourteen thousandth baby born to parents who had received Bonei Olam’s support, and the 25th year of incorporating Bonei Olam into this world.
## **DEVELOPMENT OF SERVICES**
## **Counselling Services**
Mental wellbeing has a profound impact on fertility outcomes. For some patients, infertility stems from emotional or relational factors, and counselling alone can be sufficient to address the underlying issues. For others where medical intervention is necessary, integrating counselling into the treatment plan can significantly improve the prospects of success. Bonei Olam continues to invest in this vital dimension of its service.
A new podcast, the ‘Waiting Room’, was established this year. Created by renowned producer Itzy Zieg, who is also a passionate Bonei Olam counsellor in New York, the podcast is available exclusively to Bonei Olam beneficiaries. It offers a wealth of encouragement and support from professionals as well as from fellow couples going through the fertility journey themselves.
## **Manchester Branch**
The Manchester service continues to grow at pace. To date, 129 babies have been born to parents supported by Bonei Olam in the region, a testament to the branch’s growing impact. The team now comprises a new executive board, a rabbinic board, six trained counsellors, a medical director, coordinator, administrative staff and fundraisers.
Fundraising efforts continued to gain momentum as community awareness of Bonei Olam’s work grows and more supporters recognise the need to expand services locally.
The Jewish witnessing project has now expanded considerably, adding security alongside the government HFEA supervision. Volunteers are available 24/7 at all major clinics.
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Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 30 JUNE 2025**
## **Gateshead Branch**
Bonei Olam established its own local office in Gateshead to serve the regional community. A dedicated medical administrator is now in place to assist couples in navigating local clinics and treatment options.
A recurring challenge for Gateshead couples is that specialist fertility appointments are largely concentrated in London. With significant travel time involved and video consultations not always appropriate, Bonei Olam is exploring the possibility of opening a Nova Health Clinic in Gateshead mirroring the model that operates successfully in Stamford Hill. The charity is working with Dr Matthew Prior, Consultant Gynaecologist at Newcastle Fertility Centre, to develop this concept.
## **Medical Developments**
Bonei Olam continued to advance its clinical services and foster innovation in fertility care during the year. Key developments include:
- Meaningful progress was made in the area of male fertility, specifically in the treatment of obstructive azoospermia. Bonei Olam convened medical professionals internationally to develop new treatment pathways for Orthodox Jewish patients, and engaged UK rabbinical authorities to confirm the permissibility of this approach. Given the relative prevalence of this condition, many couples stand to benefit.
- Bonei Olam supported patients presenting with a broad spectrum of conditions, including epilepsy, Turner’s syndrome, diabetes, mental health conditions and cancer.
- The charity continues to actively support and facilitate research into emerging treatments, ensuring it remains at the forefront of advances in reproductive medicine.
- This year, arrangements were made to enable more couples to travel abroad for specialist procedures not available in the UK. The charity remains committed to exploring all options for patients with complex needs.
- Bonei Olam maintains close relationships with leading clinicians at major London hospitals and clinics, enabling effective patient advocacy and ensuring the charity stays abreast of newly approved treatments and procedures.
- The ‘Eitzo’ helpline, established to assist couples with less complex fertility concerns, continues to operate 12 hours daily with five dedicated caseworkers. By addressing potential issues at an early stage, the service helps to prevent unnecessary distress, delay and expense.
- This year, BO were able to send more couples abroad to be treated by experts who do not provide treatment nearer to home. This was only for couples whose issues required specific procedures not accessible in the UK. Unfortunately, some couples who were fully medically prepared for surgery and fertility treatment in Israel were halted at the final moment due to the uncertain war situation in the Middle East.
- An exciting breakthrough was made this year in the field of male fertility. Bonei Olam is delighted to share news of a significant development at Gabriel Lab Centre for Male Fertility, and Columbia University Irving Medical Centre in New York, with hopes to implement this in the UK in the near future.
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Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 30 JUNE 2025**
- An innovative AI-based laboratory system has entered regular use, designed to assist embryologists in cases of severe azoospermia. After months of rigorous testing and comparison of several leading systems, a groundbreaking system developed abroad is now being used routinely. The system uses advanced image processing and machine learning to identify cells that the human eye struggles to distinguish even under high magnification. The combination of the extensive experience of the laboratory team, led by Mr Aharon Peretz, with the analytical capabilities of the AI system sets a new standard of accurate detection and gives real hope to couples dealing with complex fertility challenges.
## **Bonei Olam’s Other Programmes**
- Bonei Olam has continued to extend its awareness and education work. The charity produced a magazine offering clear, accessible information on the latest developments in fertility medicine, alongside a dedicated booklet covering Bonei Olam’s news and activities. Combined distribution across both publications exceeded 3,000 copies.
- Bonei Olam has been working in partnership with affiliated charities. In May, Menucha, a charity supporting women with perinatal mood disorders, ran a conference. Bonei Olam was asked to participate and a representative joined a panel discussion on PCOS.
- The North West London branch continued to develop, with expanded awareness-raising and fundraising activity in the area.
- The rabbinic advisory board was further strengthened, with over 70 rabbis participating in a dedicated conference. An online forum has been established to maintain ongoing communication between Bonei Olam and its rabbinic advisors.
- In an extraordinary and courageous act, a couple supported by Bonei Olam walked 100 miles along the Grand Union Canal from Birmingham to London over five days, to bring to the forefront the medical, practical and emotional support available for people like them. Bonei Olam is responsible for the existence of over 800 Jewish children in UK alone. The walk attracted national coverage and 396 donors from across the globe.
- A major new project, inspired by the global VZAKEINI initiative run by Bonei Olam worldwide, saw 1,000 ladies gather and over 2,000 signs up to sponsor £1 a week. Combined with united prayers, the goal is to reach 5,000 subscribers to fund a local couple weekly and pray for them to achieve their dream of parenthood.
## **NOVA HEALTH CLINIC**
The Nova Health Clinic is Bonei Olam’s wholly owned subsidiary, situated close to the charity’s main offices. The clinic provides medical services to patients on a fee-paying basis, including scans, tests and procedures. In due course, it is anticipated that the Nova Clinic will generate surpluses to help sustain Bonei Olam’s broader operations. The clinic serves both Bonei Olam beneficiaries and members of the general public, many of whom make regular use of its ultrasound and other services.
Bonei Olam refers its beneficiaries to the Nova Clinic, as well as to other specialist fertility clinics, covering the cost of services used. Patients are invited to make a contribution to the charity according to their means, though this is entirely voluntary.
In August 2023, the Nova Clinic became operationally independent, obtaining its own CQC registration and establishing itself as a standalone gynaecological and fertility clinic. The clinic’s modern, wellappointed premises were provided through the generosity of a patron, offering patients a calm and professional environment for their care.
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Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 30 JUNE 2025**
The clinic is open five days a week throughout the year and continues to expand its range of services. An overseas preparation pathway has been established, allowing UK couples being treated abroad to complete the initial phases of their treatment at Nova before travelling for their final procedure. The clinic’s dispensing service ensures that treatment can begin promptly, covering the first three days of specialist medication drugs that are not routinely stocked and can take several days to order from a pharmacy).
The Clinic is now able to offer many fertility treatments to patients on site, including 3D saline infusion sonography, fallopian tubal patency assessments using HyCoSy expanding foam, and routine internal speculum examinations. Patients requiring procedures that demand an on-site laboratory or operating theatre are referred to a hospital setting. New services added this year include GyneFix, an exclusive UK clinic run by Dr Praveen Jayadeva, Consultant at the John Hunter Clinic, Chelsea and Westminster NHS Trust, London; Manual Vacuum Aspiration (MVA), a surgical procedure used to treat early miscarriage; and late pregnancy scanning provided by Dr Yair Blecher.
Two of the highest-performing fertility clinics in the UK (per HFEA.gov.uk) the CRGH and The Lister Fertility Clinic are now formally associated with Nova, collaborating to provide local scanning for patients undergoing IVF, ICSI and PGD.
The clinic is led by Mr Dimitrios Mavrelos BA (Oxon) MBBS MD MRCOG, Consultant Gynaecologist at UCH, and Dr Steven Moser, Interventional Radiologist and specialist in male urological ultrasound. Dr Moser is able to diagnose and treat the majority of male patients seen at the clinic; where further intervention is indicated, he carries out procedures at The Wellington Hospital and The London Clinic. The recent installation of ViewPoint Ultrasound Reporting has elevated the clinic’s reporting capability to gold standard.
## **Fundraising**
North West London has now secured a strong and growing base of committed supporters. The third annual exclusive event, held in April, successfully secured funding for both primary and secondary infertility treatments, with plans in place to expand this further in the coming year.
## **FINANCIAL REVIEW**
Bonei Olam’s Ohel Sarala Project remains a cornerstone of the charity’s fundraising activity. This initiative, which continues to grow year on year, enables donors to set up modest monthly contributions creating a reliable and diversified income stream that is not dependent on any single major funder.
Total income for the year ending 30 June 2025 was £1.99m, compared with £1.68m in the prior year an increase of £310k (18.5%). This growth reflects strong fundraising performance across all branches, with North London raising £774k, North West London £547k, Manchester £311k and Gateshead £47k. Patient contributions grew to £191k (2024: £150k) and Nova Health Clinic income increased to £116k (2024: £105k).
Total expenditure for the year was £2.1m (2024: £1.6m). This significant increase reflects the charity’s expanded scale of activity, particularly in medical treatment costs, which rose to £938k (2024: £551k) the largest single area of spend. Patient advice costs grew to £470k (2024: £358k), reflecting a larger case load, and staff costs increased to £306k (2024: £208k) as headcount rose from 14 to 18 employees. Fundraising costs fell to £234k (2024: £290k), demonstrating improved efficiency in income generation.
The net deficit for the year was £121k (2024: surplus of £76k), resulting primarily from the expansion of charitable activities and medical treatment provision outpacing income growth. Total unrestricted reserves carried forward at 30 June 2025 stood at £92,163.
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Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 30 JUNE 2025**
## **Reserves policy**
The trustees’ reserves policy is to hold the equivalent of between three and six months’ running costs as free reserves, recognising that this target cannot always be achieved. Based on operating costs of £2,093,133 less medical treatment grants of £937,674, the charity’s underlying cost base is £1,155,459. Unrestricted reserves at the year end stood at £92,163, representing approximately one month’s operating costs, which is below the target range. The trustees are actively pursuing new funding opportunities to rebuild the reserves position and ensure the charity’s long-term stability and resilience.
## **Public benefit**
The trustees have given careful consideration to the Charity Commission’s guidance on public benefit in reviewing Bonei Olam’s aims and objectives and in planning future activities. They have also had due regard to their obligations under the Equality Act 2010 and are satisfied that these obligations are met.
## **TRUSTEES' RESPONSIBILITIES STATEMENT**
The trustees, who also serve as directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the applicable Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for maintaining adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **AUDITOR**
Each of the persons who is a trustee at the date of approval of this report confirms that so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and that they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. Cohen Arnold is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
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Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **TRUSTEES ANNUAL REPORT**
**YEAR ENDED 30 JUNE 2025**
## **SMALL COMPANY PROVISIONS**
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Approved by order of the board of trustees on 30 April 2026 and signed on its behalf by:
**Mr J Englander** Director/Trustee
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Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF BONEI OLAM**
## **YEAR ENDED 30 JUNE 2025**
## **OPINION**
We have audited the financial statements of Bonei Olam (the ‘parent company’) and its subsidiary (the ‘group’) for the year ended 30 June 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Parent Company Balance Sheets, the Consolidated 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, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the parent 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 company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
In our opinion the financial statements:
- give a true and fair view of the state of the group’s and of the parent company’s affairs as at 30 June 2024 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared with the requirements of the Companies Act 2006 and Charities Act 2011.
## **BASIS FOR OPINION**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **CONCLUSIONS RELATING TO GOING CONCERN**
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:
- the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity'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.
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Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF BONEI OLAM**
## **YEAR ENDED 30 JUNE 2025**
## **OTHER INFORMATION**
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the trustees' report 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 charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees annual report and from the requirement to prepare a strategic report.
## **RESPONSIBILITIES OF TRUSTEES**
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF BONEI OLAM**
## **YEAR ENDED 30 JUNE 2025**
**AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- We obtained an understanding of the legal and regulatory frameworks that are applicable to the group through discussion with the trustees and identified financial reporting legislation and charity legislation as being most significant to these financial statements.
- We communicated these identified frameworks amongst our audit team and remained alert to any indications of non-compliance throughout the audit. We ensured that the engagement team had sufficient competence and capability to identify or recognise non-compliance with the laws and regulations.
- We discussed with the trustees the policies and procedures regarding compliance with these legal and regulatory frameworks.
- We assessed the susceptibility of the group's financial statements to material misstatement due to non-compliance with legal and regulatory frameworks, including how fraud might occur, by enquiry with the trustees during the planning and finalisation phases stages of our audit. The susceptibility to such material misstatement was determined to be low.
- Based on this understanding, we designed our audit procedures to identify non-compliance with the identified legal and regulatory frameworks, which were part of our procedures on the related financial statement items.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
**- 12 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF BONEI OLAM**
## **YEAR ENDED 30 JUNE 2025**
- Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
New Burlington House 1075 Finchley Road LONDON NW11 0PU
DAVID GOLDBERG (Senior Statutory Auditor) For and on behalf of COHEN ARNOLD Chartered Accountants & Statutory Auditor
Dated: 30 April 2026
**- 13 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED**
## **(LIMITED BY GUARANTEE)**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME & EXPENDITURE ACCOUNT)**
||**YEAR ENDED 30 JUNE 2025**|**YEAR ENDED 30 JUNE 2025**|**YEAR ENDED 30 JUNE 2025**|||
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
|||**Funds**|**Funds**|**2025**|2024|
||**Note**|**£**|**£**|**£**|£|
|**INCOME AND**||||||
|**ENDOWMENTS**||||||
|Donations and legacies|**4**|1,673,169|6,000|**1,679,169**|1,417,732|
|Charitable activities|**5**|190,777|**-**|**190,777**|150,175|
|Other trading activities:||||||
|Nova Health Clinic|**6**|116,352|**-**|**116,352**|104,720|
|Rental income||276|**-**|**276**|4,331|
|||----------------------------------------------|------------------------------------|**----------------------------------------------**|----------------------------------------------|
|**TOTAL INCOME**||1,980,574|6,000|**1,986,574**|1,676,958|
|||`════════════`|`══════════`|**`════════════`**|`════════════`|
|**EXPENDITURE**||||||
|Expenditure on raising funds:||||||
|Costs of raising donations||||||
|and legacies|**7**|233,957|**-**|**233,957**|289,906|
|Expenditure on charitable||||||
|activities|**8/9**|1,533,286|14,163|**1,547,449**|1,056,819|
|Nova Health Clinic|**10**|325,890|**-**|**325,890**|254,174|
|||----------------------------------------------|------------------------------------|**----------------------------------------------**|----------------------------------------------|
|**TOTAL**||2,093,133|14,163|**2,107,296**|1,600,899|
|||`════════════`|`══════════`|**`════════════`**|`════════════`|
|**NET (DEFICIT) /**||||||
|**SURPLUS**||(112,559)|(8,163)|**(120,722)**|76,059|
|||------------------------------------|-------------------------------|**------------------------------------**|------------------------------------|
|**NET MOVEMENT IN**||||||
|**FUNDS**||(112,559)|(8,163)|**(120,722)**|76,059|
|**RECONCILIATION OF**||||||
|**FUNDS**||||||
|Total funds brought forward||204,722|40,822|**245,544**|169,485|
|||------------------------------------|-------------------------------|**------------------------------------**|------------------------------------|
|**TOTAL FUNDS CARRIED**||||||
|**FORWARD**||92,163|32,659|**124,822**|245,544|
|||====================================|===============================|**====================================**|====================================|
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
**The notes on pages 18 to 28 form part of these financial statements.**
**- 14 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **CONSOLIDATED BALANCE SHEET**
## **30 JUNE 2025**
||||**2025**||2024|
|---|---|---|---|---|---|
||**Note**||**£**|**£**|£|
|**FIXED ASSETS**||||||
|Tangible fixed assets|**16**|||**145,685**|176,691|
|**CURRENT ASSETS**||||||
|Debtors|**18**||**6,870**||**-**|
|Cash at bank and in hand|||**121,163**||148,903|
||||**-------------------------------**||-------------------------------|
||||**128,033**||148,903|
|**CREDITORS: amounts falling due within one**||||||
|**year**|**19**||**(124,754)**||(51,004)|
||||**-------------------------------**||-------------------------------|
|**NET CURRENT ASSETS**||||**3,279**|97,899|
|||||**-------------------------------------**|-------------------------------------|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**||||**148,964**|274,590|
|**CREDITORS: amounts falling due after more**||||||
|**than one year**|**20**|||**(24,142)**|(29,046)|
|||||**-------------------------------------**|-------------------------------------|
|**NET ASSETS**||||**124,822**|245,544|
|||||**=====================================**|=====================================|
|**FUNDS OF THE CHARITY**||||||
|Restricted funds||**22**||**32,659**|40,822|
|Unrestricted funds||**23**||**92,163**|204,722|
|||||**-------------------------------------**|-------------------------------------|
|**TOTAL CHARITY FUNDS**||||**124,822**|245,544|
|||||**=====================================**|=====================================|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 30 April 2026, and are signed on behalf of the board by:
**Mr J Englander** Director/Trustee
Company Registration Number: 09649856
**The notes on pages 18 to 28 form part of these financial statements.**
**- 15 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **BALANCE SHEET**
## **30 JUNE 2025**
||||**2025**||2024|
|---|---|---|---|---|---|
||**Note**||**£**|**£**|£|
|**FIXED ASSETS**||||||
|Tangible fixed assets|**16**|||**119,438**|137,321|
|Investments|**17**|||**100**|100|
|||||**-------------------------------------**|-------------------------------------|
|||||**119,538**|137,421|
|**CURRENT ASSETS**||||||
|Debtors|**18**||**18,339**||2,030|
|Cash at bank and in hand|||**120,806**||140,100|
||||**-------------------------------**||-------------------------------|
||||**139,145**||142,130|
|**CREDITORS: amounts falling due within one**||||||
|**year**|**19**||**(124,754)**||(32,764)|
||||**-------------------------------**||-------------------------------|
|**NET CURRENT ASSETS**||||**14,391**|109,366|
|||||**-------------------------------------**|-------------------------------------|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**||||**133,929**|246,787|
|**CREDITORS: amounts falling due after more**||||||
|**than one year**|**20**|||**(24,142)**|(29,046)|
|||||**-------------------------------------**|-------------------------------------|
|**NET ASSETS**||||**109,787**|217,741|
|||||**=====================================**|=====================================|
|**FUNDS OF THE CHARITY**||||||
|Restricted funds||**22**||**32,659**|40,822|
|Unrestricted funds||**23**||**77,128**|176,919|
|||||-------------------------------------|-------------------------------------|
|**TOTAL CHARITY FUNDS**||||**109,787**|217,741|
|||||=====================================|=====================================|
The Charity's own net deficit for the year was £107,954 (2024: £89,864 surplus).
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 30 April 2026, and are signed on behalf of the board by:
## **Mr J Englander**
Director/Trustee
Company Registration Number: 09649856
**The notes on pages 18 to 28 form part of these financial statements.**
**- 16 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **STATEMENT OF CASH FLOWS**
## **YEAR ENDED 30 JUNE 2025**
||**2025**|2024|
|---|---|---|
||**£**|£|
|**CASH FLOWS FROM OPERATING ACTIVITIES**|||
|Net income|**(120,722)**|76,059|
|_Adjustments for:_|||
|Depreciation of tangible fixed assets|**31,006**|31,681|
|Interest payable and similar charges||**-**|
|_Changes in:_|||
|Trade and other debtors|**(6,870)**|3,500|
|Trade and other creditors|**73,750**|8,994|
||**`──────────`**|`──────────`|
|Cash generated from operations|**(22,836)**|120,234|
|Interest received|**-**|**-**|
||**`──────────`**|`──────────`|
|Net cash from operating activities|**(22,836)**|120,234|
||**`══════════`**|`══════════`|
|**CASH FLOWS FROM INVESTING ACTIVITIES**|||
|Purchase of tangible assets|**-**|**-**|
||`───────────`|`───────────`|
|Net cash used in investing activities|**-**|**-**|
||`══════════`|`══════════`|
|**CASH FLOWS FROM FINANCING ACTIVITIES**|||
|Proceeds from borrowing|**(4,904)**|(4,907)|
||**`───────────`**|`───────────`|
|Net cash from financing activities|**(4,904)**|(4,907)|
||**`══════════`**|`══════════`|
|**NET INCREASE / (DECREASE) IN CASH AND**|||
|**CASH EQUIVALENTS**|**(27,740)**|115,327|
|**CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR**|**148,903**|33,576|
||**-------------**|-------------|
|**CASH AND CASH EQUIVALENTS AT END OF YEAR**|**121,163**|148,903|
||**`══════════`**|`══════════`|
**The notes on pages 18 to 28 form part of these financial statements.**
**- 17 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED**
## **(LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 JUNE 2025**
## **1.**
## **GENERAL INFORMATION**
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 130a Northwold Road, London, E5 8RA, UK.
## **2.**
## **STATEMENT OF COMPLIANCE**
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)); the companies act 2006 and the Charities Act 2011.
## **3. ACCOUNTING POLICIES**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in Sterling, which is the functional currency of the entity.
The charity constitutes a public benefit entity as defined by FRS102.
## **Consolidation**
The group financial statements incorporate the audited financial statements of the company and its wholly owned subsidiary, Nova Health Clinic Limited, whose financial statements are made up to the same date as the holding company 30 June 2023.
## **Judgements and key sources of estimation uncertainty**
In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
## **Going Concern**
The trustees have reviewed the cash flow forecast and are of the opinion that the charity is able to continue as a going concern for the foreseeable future.
## **Incoming resources**
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured.
## **Grants and donations**
Grants and donations are only included in the statement of financial activities when the Charity has unconditional entitlement to the resources. Donations represent voluntary amounts received during the year.
**- 18 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED**
## **(LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 JUNE 2025**
## **3. ACCOUNTING POLICIES** _(continued)_
## **Legacies**
Legacies are included in the Financial Statements as soon as their receipt can be anticipated with a high degree of certainty. This frequently coincides with the funds being received.
## **Fund accounting**
General unrestricted funds comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the Trustees in the furtherance of the general objectives of the Charity.
Restricted funds are funds subject to specific restricted conditions imposed by donors.
Designated funds are funds which have been set aside at the discretion of the Trustees for specific purposes. There are no Designated Funds as at the Balance Sheet date.
## **Expenditure**
Expenditure is charged on an accruals basis and allocated to the appropriate headings in the accounts.
The majority of costs are directly attributable to specific activities. Costs incurred in respect of the charitable activities include elements of staff costs and attributable support costs.
## **Support costs**
Support costs are those costs which are common to all areas of the organisation. These are allocated across all areas of activity on the basis of time and other resources dedicated to the respective services.
## **Governance costs**
Governance costs are associated with the governance arrangements of the Company and Charity and relate to the general running of both. These costs include audit, legal advice for Trustees and costs associated with meeting constitutional and statutory requirements such as the cost of Trustee meetings and the preparation of the statutory accounts.
## **Fixed assets**
All fixed assets are initially recorded at cost.
## **Depreciation**
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Short leasehold improvement over the term of the lease Plant and Machinery 25% reducing balance Equipment some at 30% reducing balance, 10% straight line and 16 years straight line Sefer Torah 2% straight line
**- 19 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 JUNE 2025**
## **4. DONATIONS AND LEGACIES**
|**4.**|**DONATIONS AND LEGACIES**||||
|---|---|---|---|---|
|||Unrestricted|Restricted|**Total Funds**|
|||Funds|Funds|**2025**|
|||£|£|**£**|
||**Donations**||||
||North London|767,857|6,000|**773,857**|
||Northwest London|547,305|**-**|**547,305**|
||Manchester|310,650|**-**|**310,650**|
||Gateshead|47,357|**-**|**47,357**|
|||-------------------------------------|-------------------------------|**-------------------------------------**|
|||1,673,169|6,000|**1,679,169**|
|||=====================================|===============================|**=====================================**|
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2024|
|||£|£|£|
||**Donations**||||
||North London|598,900|**-**|598,900|
||Northwest London|387,832|**-**|387,832|
||Manchester|394,000|**-**|394,000|
||Gateshead|37,000|**-**|37,000|
|||-------------------------------------|-------------------------------|-------------------------------------|
|||1,417,732|**-**|1,417,732|
|||=====================================|===============================|=====================================|
|**5.**|**INCOME FROM CHARITABLE ACTIVITIES**||||
|||||Total Funds|
|||**Unrestricted**|**Total Funds**|Unrestricted|
|||**Funds**|**2025**|2024|
|||**£**|**£**|£|
||Patient contributions|190,777|**190,777**|150,175|
|||===============================================|**===============================================**|===============================================|
|**6.**|**OTHER TRADING ACTIVITIES**||||
|||||Total Funds|
|||**Unrestricted**|**Total Funds**|
Unrestricted|
|||**Funds**|**2025**|2024|
|||**£**|**£**|£|
||Nova Health Clinic income|116,352|
**116,352**|104,720|
|||==============|**==============**|==============|
|**7.**|**COSTS OF RAISING DONATIONS AND LEGACIES**||||
|||||Total Funds|
|||**Unrestricted**|**Total Funds**|Unrestricted|
|||**Funds**|**2025**|2024|
|||**£**|**£**|£|
||Fundraising costs|233,957|**233,957**|289,906|
|||=====================================|**=====================================**|=====================================|
**- 20 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 JUNE 2025**
## **8. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE**
||**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
|---|---|---|---|---|
||**Funds**|**Funds**|**2025**|2024|
||**£**|**£**|**£**|£|
|Patient advice|470,160|**-**|**470,160**|357,860|
|Patient advocacy|19,652|**-**|**19,652**|11,856|
|Medical treatment costs|937,674|**-**|**937,674**|550,888|
|Infertility education & awareness|17,153|**-**|**17,153**|33,626|
|Nova Health Clinic|201|8,163|**8,364**|14,057|
|Support costs|94,446|**-**|**94,446**|88,532|
||-----------------------------------------------|-----------------------------------------------|**-----------------------------------------------**|-----------------------------------------------|
||1,539,286|8,163|**1,547,449**|1,056,819|
||===============================================|===============================================|**===============================================**|==============================================|
Of the £1,056,819 expenditure in 2024, £1,048,656 was charged to unrestricted funds and £8,163 to restricted funds.
## **9. COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE**
|||**Activities**||||
|---|---|---|---|---|---|
|||**undertaken**|**Support**|**Total Funds**|Total Funds|
|||**directly**|**costs**|**2025**|2024|
|||**£**|**£**|**£**|£|
||Patient advice|470,160|27,165|**497,325**|383,141|
||Patient advocacy|19,652|1,135|**20,787**|12,711|
||Medical treatment costs|937,674|54,177|**991,851**|597,109|
||Infertility education & awareness|17,153|991|**18,144**|36,050|
||Nova Health Clinic|8,364|484|**8,848**|18,347|
||Governance costs||10,494|**10,494**|8,977|
|||-----------------------------------------------|-----------------------------------------------|**-----------------------------------------------**|-----------------------------------------------|
|||1,453,003|94,446|**1,547,449**|1,056,334|
|||===============================================|===========================================|**===============================================**|==============================================|
|**10.**|**COSTS OF OTHER TRADING ACTIVITES**|||||
||||||Total Funds|
||||**Unrestricted**|**Total Funds**|Unrestricted|
||||**Funds**|**2025**|2024|
||||**£**|**£**|£|
||Nova Health Clinic costs||325,890|**325,890**|254,174|
||||=====================================|**=====================================**|=====================================|
|**11.**|**NET INCOME FOR THE YEAR**|||||
||This is stated after charging:|||||
|||||**2025**|2024|
|||||**£**|£|
||Depreciation of tangible fixed assets|||**31,006**|31,681|
|||||**===============================**|===============================|
**- 21 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 JUNE 2025**
## **12. AUDITORS REMUNERATION**
|**12.** **AUDITORS REMUNERATION**|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Fees payable for the audit of the financial statements|**9,000**|6,000|
||**==========================**|==========================|
|**13.** **STAFF COSTS AND EMOLUMENTS**|||
|**Total staff costs were as follows:**|||
||**2025**|2024|
||**£**|£|
|Wages and salaries|**295,825**|194,707|
|Social security costs|**9,431**|8,743|
|Other employee benefits|**1,118**|4,696|
||**-----------------------------------------------**|-----------------------------------------------|
||**306,444**|208,146|
||**===============================================**|==============================================|
|**Particulars of employees:**|||
||**2025**|2024|
||**No**|No|
|Number of Full Time Staff|**1**|1|
|Number of Part Time Staff|**17**|13|
||**--------------**|--------------|
||**18**|14|
||**===============**|===============|
The number of employees whose remuneration for the year fell within the following bands, were:
|||**2025**|2024|
|---|---|---|---|
|||**No**|No|
|£60,000|to £69,999|**-**|**-**|
## **14. TRUSTEE REMUNERATION AND EXPENSES**
No trustees received any remuneration during the year (2024: £Nil). The charity did not meet any individual expenses incurred by the trustees for services provided to the charity.
**- 22 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 JUNE 2025**
## **15. TANGIBLE FIXED ASSETS Group**
||Short|||||
|---|---|---|---|---|---|
||leasehold|Plant and||||
||improvements|machinery|Equipment|Sefer Torah|**Total**|
||£|£|£|£|**£**|
|**Cost**||||||
|At 30 June 2024|151,813|1,813|113,785|53,500|**320,911**|
|Additions|**-**|**-**|**-**|**-**|**-**|
||-------------------------------|--------------------------|-------------------------------|-------------------------------------|**-------------------------------------**|
|**At 30 June 2025**|151,813|1,813|113,785|53,500|**320,911**|
||===============================|==========================|===============================|=====================================|**=====================================**|
|**Depreciation**||||||
|At 1 July 2024|70,429|1,572|69,072|3,147|**144,220**|
|Charge for the year|20,492|60|9,447|1,007|**31,006**|
||-------------------------------|--------------------------|-------------------------------|-------------------------------------|**-------------------------------------**|
|**At 30 June 2025**|90,921|1,632|78,519|4,154|**175,226**|
||===============================|==========================|===============================|=====================================|**=====================================**|
|**Carrying amount**||||||
|**At 30 June 2025**|60,892|181|35,266|49,346|**145,685**|
||**===============================**|**==========================**|**===============================**|**=====================================**|**=====================================**|
|At 30 June 2024|81,384|241|44,713|50,353|**176,691**|
||===============================|==========================|===============================|=====================================|=====================================|
|**Company**||||||
||Short|||||
||leasehold|Plant and||||
||improvements|machinery|Equipment|Sefer Torah|**Total**|
||£|£|£|£|**£**|
|**Cost**||||||
|At 30 June 2024|86,197|1,813|113,785|53,500|**255,295**|
|Additions|-|-|-|-|**-**|
||-------------------------------|--------------------------|-------------------------------|-------------------------------------|**-------------------------------------**|
|**At 30 June 2025**|86,197|1,813|113,785|53,500|**255,295**|
||===============================|==========================|===============================|=====================================|**=====================================**|
|**Depreciation**||||||
|At 1 July 2024|44,183|1,572|69,072|3,147|**117,974**|
|Charge for the year|7,369|60|9,447|1,007|**17,883**|
||-------------------------------|--------------------------|-------------------------------|-------------------------------------|**-------------------------------------**|
|**At 30 June 2025**|51,552|1,632|78,519|4,154|**135,857**|
||===============================|==========================|===============================|=====================================|**=====================================**|
|**Carrying amount**||||||
|**At 30 June 2025**|34,645|181|35,266|49,346|**119,438**|
||**===============================**|**==========================**|**===============================**|**=====================================**|**=====================================**|
|At 30 June 2024|42,014|241|44,713|50,353|**137,321**|
||===============================|==========================|===============================|=====================================|=====================================|
**- 23 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 JUNE 2025**
## **16. INVESTMENTS**
**Movement in market value**
|**Movement in market value**|||||
|---|---|---|---|---|
||||**2025**|2024|
||||**£**|£|
|Market value at 1 July 2024|||**100**|100|
||||===============|===============|
|Market value at 30 June 2025|||**100**|100|
||||===============|===============|
|Historical cost at 30 June 2024|||**100**|100|
||||===============|===============|
|**Analysis of investments at 30**|**June 2025 between**|**funds**|||
||**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
||**Funds**|**Funds**|**2025**|2024|
||**£**|**£**|**£**|£|
|**Other investments**|||||
|UK Group undertakings|100|**-**|**100**|100|
||===============|===============|===============|===============|
The subsidiary undertaking, Nova Health Clinic Limited, is a wholly owned trading company, incorporated and registered in England and Wales, whose registered address is 130a Northwold Road, London, United Kingdom E5 8RA. The aggregate capital and reserves as at 30 June 2025 totalled £15,135. The loss for the year totalled £12,768.
## **17. DEBTORS**
|**DEBTORS**||||||
|---|---|---|---|---|---|
||**Group**|||**Company**||
||**2025**|2024||**2025**|2024|
||**£**|£||**£**|£|
|Amounts owed by group undertakings|**-**||**-**|**11,469**|2,030|
|Prepayments and accrued income|**6,870**||**-**|**6,870**|**-**|
||**------------------------------------**|------------------------------------||**------------------------------------**|------------------------------------|
||**6,870**||**-**|**18,339**|2,030|
||**====================================**|====================================||**=====================================**|=====================================|
See note 26 for related party transactions included in other debtors.
## **18. CREDITORS: Amounts falling due within one year**
||**Group**||**Company**||
|---|---|---|---|---|
||**2025**|2024|**2025**|2024|
||**£**|£|**£**|£|
|Social security and other taxes|**6,521**|16,331|**6,521**|16,331|
|Accruals and deferred income|**9,000**|10,440|**9,000**|7,200|
|Loan creditors|**109,233**|9,233|**109,233**|9,233|
||**------------------------------------**|------------------------------------|**------------------------------------**|------------------------------------|
||**124,754**|36,004|**124,754**|32,764|
||**====================================**|====================================|**=====================================**|=====================================|
**- 24 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 JUNE 2025**
## **19. CREDITORS: Amounts falling due after more than one year**
||**Group**||**Company**||
|---|---|---|---|---|
||**2025**|2024|**2025**|2024|
||**£**|£|**£**|£|
|Bank loans and overdraft|**24,142**|29,046|**24,142**|29,046|
||**====================================**|====================================|**=====================================**|=====================================|
## **20. PENSIONS AND OTHER POST RETIREMENT BENEFITS**
## **Defined contribution plans**
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £Nil (2024: £Nil).
## **21. RESTRICTED INCOME FUNDS**
## **Group**
|**Group**||||||
|---|---|---|---|---|---|
||**Balance at**|**Incoming**|**Outgoing**||**Balance at**|
||**1 July 2024**|**resources**|**resources**|**Transfers**|**30 June 2025**|
||**£**|**£**|**£**|**£**|**£**|
|Restricted Fund|40,822|6,000|(14,163)|-|**32,659**|
||**====================================**|**====================================**|**====================================**|**====================================**|**====================================**|
||Balance at|Incoming|Outgoing||**Balance at**|
||1 July 2023|resources|resources|Transfers|**30 June 2024**|
||£|£|£|£|**£**|
|Restricted Fund|48,985|**-**|(8,163)|**-**|40,822|
||====================================|====================================|====================================|====================================|====================================|
|**Company**||||||
||**Balance at**|**Incoming**|**Outgoing**||**Balance at**|
||**1 July 2024**|**resources**|**resources**|**Transfers**|**30 June 2025**|
||**£**|**£**|**£**|**£**|**£**|
|Restricted Fund|40,822|6,000|(14,163)|-|**32,659**|
||**====================================**|**====================================**|====================================|**====================================**|**====================================**|
||Balance at|Incoming|Outgoing||**Balance at**|
||1 July 2023|resources|resources|Transfers|**30 June 2024**|
||£|£|£|£|**£**|
|Restricted Fund|48,985|**-**|(8,163)|**-**|40,822|
||====================================|====================================|====================================|====================================|====================================|
**- 25 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 JUNE 2025**
## **22. UNRESTRICTED INCOME FUNDS**
## **Group**
|**Group**||||||
|---|---|---|---|---|---|
||**Balance at**|**Incoming**|**Outgoing**||**Balance at**|
||**1 July 2024**|**resources**|**resources**|**Transfers**|**30 June 2025**|
||**£**|**£**|**£**|**£**|**£**|
|General Funds|204,722|1,980,574|(2,093,133)|**-**|**92,163**|
||**====================================**|**====================================**|**====================================**|**====================================**|**====================================**|
||Balance at|Incoming|Outgoing||Balance at|
||1 July 2023|resources|resources|Transfers|30 June 2024|
||£|£|£|£|£|
|General Funds|120,500|1,676,958|(1,592,736)|**-**|204,722|
||====================================|====================================|====================================|====================================|====================================|
|**Company**||||||
||**Balance at**|**Incoming**|**Outgoing**||**Balance at**|
||**1 July 2024**|**resources**|**resources**|**Transfers**|**30 June 2025**|
||**£**|**£**|**£**|**£**|**£**|
|General Funds|176,919|**1,864,222**|**(1,964,013)**|**-**|**77,128**|
||**====================================**|**====================================**|**====================================**|**====================================**|**====================================**|
||Balance at|Incoming|Outgoing||Balance at|
||1 July 2023|resources|resources|Transfers|30 June 2024|
||£|£|£|£|£|
|General Funds|78,892|1,572,238|(1,474,211)|**-**|176,919|
||====================================|====================================|====================================|====================================|====================================|
## **23. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**Group**|Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2025**|
||£|£|**£**|
|Tangible fixed assets|113,026|32,659|**145,685**|
|Current assets|128,033|**-**|**128,033**|
|Creditors less than 1 year|(124,754)|**-**|**(124,754)**|
|Creditors greater than 1 year|(24,142)|**-**|**(24,142)**|
||-------------------------------|-------------------------------------|**-------------------------------------**|
|**Net assets**|92,163|32,659|**124,822**|
||===============================|=====================================|**=====================================**|
|**Company**|Unrestricted|Restricted|**Total Funds**|
||Funds|Funds|**2025**|
||£|£|**£**|
|Tangible fixed assets|86,779|32,659|**119,438**|
|Investments|100|**-**|**100**|
|Current assets|139,145|**-**|**139,145**|
|Creditors less than 1 year|(124,754)|**-**|**(124,754)**|
|Creditors greater than 1 year|(24,142)|**-**|**(24,142)**|
||-------------------------------|-------------------------------------|**-------------------------------------**|
|**Net assets**|77,128|32,659|**109,787**|
||===============================|=====================================|**=====================================**|
## **Group**
**- 26 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED**
## **(LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 JUNE 2025**
||**Group**|Unrestricted|Restricted|Total Funds|
|---|---|---|---|---|
|||Funds|Funds|2024|
|||£|£|£|
||Tangible fixed assets|135,869|40,822|176,691|
||Current assets|148,903|**-**|148,903|
||Creditors less than 1 year|(51,004)|**-**|(51,004)|
||Creditors greater than 1 year|(29,046)|**-**|(29,046)|
|||-------------------------------|-------------------------------------|-------------------------------------|
||**Net assets**|204,722|40,822|245,544|
|||===============================|=====================================|=====================================|
||**Company**|Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2024|
|||£|£|**£**|
||Tangible fixed assets|96,499|40,822|137,321|
||Investments|100|**-**|100|
||Current assets|142,130|**-**|142,130|
||Creditors less than 1 year|(32,764)|**-**|(32,764)|
||Creditors greater than 1 year|(29,046)|**-**|(29,046)|
|||-------------------------------|-------------------------------------|-------------------------------------|
||**Net assets**|176,919|40,822|217,741|
|||===============================|=====================================|=====================================|
|**24.**|**ANALYSIS OF CHANGES IN NET DEBT**||||
||**Group**||||
||**Group**||||
|---|---|---|---|---|
|||**At 1 July**|**At**|**30 June**|
|||**2024**|**Cash flows**|**2025**|
|||**£**|**£**|**£**|
||Cash in hand and at bank|148,903|(27,740)|**121,163**|
||Debt due after one year|(29,046)|4,904|**(24,142)**|
|||------------------------------------|------------------------------------|**------------------------------------**|
|||119,857|(22,836)|**97,021**|
|||**====================================**|====================================|**====================================**|
|**25.**|**OPERATING LEASE COMMITMENTS**||||
||The total future minimum lease payments under|non-cancellable|operating leases are as follows:||
||||**2025**|2024|
||||**£**|£|
||Not later than 1 year||**27,480**|51,480|
||Later than 1 year and not later than 5 years||**82,440**|109,920|
||Later than 5 years||**-**|27,480|
||||**-------------------------------------**|-------------------------------------|
||||**109,920**|188,880|
||||**=====================================**|=====================================|
## **26. RELATED PARTY TRANSACTIONS**
Amounts owed by group undertakings in note 17 relates to Nova Health Clinic Limited, a wholly owned subsidiary of Bonei Olam Limited.
## **27. COMPANY LIMITED BY GUARANTEE**
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.
**- 27 -**
Docusign Envelope ID: E5FD93E7-B66B-88F0-8084-4D4121324DCF
## **BONEI OLAM LIMITED (LIMITED BY GUARANTEE)**
## **STATEMENT OF FINANCIAL ACTIVITIES** ( **INCORPORATING THE INCOME & EXPENDITURE ACCOUNT)**
## **YEAR ENDED 30 JUNE 2025**
## **28. SUMMARY OF MANCHESTER BRANCH**
|**SUMMARY OF MANCHESTER BRANCH**|||
|---|---|---|
||**2025**|**2024**|
||**£**|**£**|
|**Income**|||
|Donations Received|**277,151**|302,491|
|Charitable activities|**33,223**|14,944|
|Other Income|**276**|4,331|
||**====================================**|====================================|
|**Expenditure**|||
|Patient advice|**70,174**|21,979|
|Patient advocacy|**6,659**|1,457|
|Medical treatment costs|**185,682**|37,645|
|Infertility education & awareness|**3,258**|2,194|
|Wages and support costs|**83,523**|21,821|
||**====================================**|**====================================**|
**-28-**