**REGISTERED CHARITY NUMBER: 1168057**
## **FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
**FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
||**Page**||
|---|---|---|
|**Reference and Administrative Details**|1||
|**Report of the Trustees**|2 to|3|
|**Independent Examiner's Report**|4||
|**Statement of Financial Activities**|5||
|**Balance Sheet**|6||
|**Cash Flow Statement**|7||
|**Notes to the Cash Flow Statement**|8||
|**Notes to the Financial Statements**|9 to|13|
**FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
**REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 5 APRIL 2023**
**TRUSTEES** Mr R A Rechnitzer Mrs F Goldberg Mr I Piller Mr P Taub **PRINCIPAL ADDRESS** 165 Kyverdale Road London N16 6PS **REGISTERED CHARITY** 1168057 **NUMBER INDEPENDENT EXAMINER** Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS **BANKERS** Barclays Bank PLC 403 Holloway Road London N7 6HL
Page 1
## **FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2023**
The trustees present their report with the financial statements of the charity for the year ended 5 April 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).
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
The information is shown on page 1 of the financial statements and forms part of this report.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the charity are (i) the advancement of the Jewish religion through facilitation or assisting in the provision of facilities, activities or services and in particular through supporting the Gur Foundation in Israel (ii) to promote any other exclusively charitable objects and purposes as the trustees see fit provided that they are regarded as charitable by the law of England and Wales.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
## **Grantmaking**
Grants are made to charitable institutions and organisations which accord with the objects of the charity. This year they were to the Global Centre of Gur.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The charity is reliant on voluntary donations. Income for the year rose by about 22% compared with the previous year. Grantmaking was increased by 14%, but this still left a deficit for the year, being funded from reserves held. During the year the charity continued its philanthropic activities and has maintained its support in the advancement of education and religion.
## **FINANCIAL REVIEW**
## **Reserves policy**
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £13,931 (2022- £32,848) of which £Nil (2022 - £5,000) are restricted reserves.
## **FUTURE PLANS**
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Charity constitution**
The charity was set up as Charitable Incorporated Organisation (CIO) registered on 6 July 2016.
## **Organisational structure**
The day-to-day affairs of the company are administered by the trustees. The power to appoint new trustees is vested in the board. New trustees are appointed based on personal competence, specialist skills and experience They are inducted into the working of the charity by the current board and are given, in the view of the board, sufficient training to understand the nature of the charity and its working. They are also encouraged to read the Charity Commission's various publications on trustees.
## **Risk management**
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees 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).
Page 2
## **FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2023**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and 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 keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
Approved by order of the board of trustees on 16 January 2024 and signed on its behalf by:
Mr R A Rechnitzer - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
## **Independent examiner's report to the trustees of Friends of Gur Foundation Israel (CIO)**
I report to the charity trustees on my examination of the accounts of Friends of Gur Foundation Israel (CIO) (the Trust) for the year ended 5 April 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
E Meyer FCA BSc
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
16 January 2024
Page 4
## **FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023**
|**Unrestricted**
**fund**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
438,444
**EXPENDITURE ON**
Raising funds
5,005
**Charitable activities**
3
Global Centre of Gur
440,000
Support
7,356
**Total**
452,361
**NET INCOME/(EXPENDITURE)**
(13,917)
**RECONCILIATION OF FUNDS**
Total funds brought forward
27,848
**TOTAL FUNDS CARRIED FORWARD**
13,931|**Restricted**
**fund**
**£**
475,000
-
480,000
-
480,000
(5,000)
5,000
-|**2023**
**Total**
**funds**
**£**
913,444
5,005
920,000
7,356
932,361
(18,917)
32,848
13,931|**2022**
**Total**
**funds**
**£**
746,054
2,971
804,084
5,568
812,623
(66,569)
99,417
32,848|
|---|---|---|---|
The notes form part of these financial statements
Page 5
## **FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
## **BALANCE SHEET 5 APRIL 2023**
|**Notes**
**FIXED ASSETS**
Tangible assets
7
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
8
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**2023**
**£**
561
16,010
(2,640)
13,370
13,931
13,931
13,931
-
13,931|**2022**
**£**
659
34,829
(2,640)
32,189
32,848
32,848
27,848
5,000
32,848|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 16 January 2024 and were signed on its behalf by:
Mr R A Rechnitzer - Trustee
The notes form part of these financial statements
Page 6
## **FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 5 APRIL 2023**
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
1
Net cash used in operating activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|**2023**
**£**
(18,819)
(18,819)
(18,819)
34,829
16,010|**2022**
**£**
(69,814)
(69,814)
(69,814)
104,643
34,829|
|---|---|---|
The notes form part of these financial statements
Page 7
## **FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 5 APRIL 2023**
## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**ACTIVITIES**|||
|---|---|---|
|**Net expenditure for the reporting period (as per the Statement**
**of Financial Activities)**
**Adjustments for:**
Depreciation charges
Decrease in creditors
**Net cash used in operations**|**2023**
**£**
(18,917)
98
-
(18,819)|**2022**
**£**
(66,569)
115
(3,360)|
|||(69,814)|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
||**At 6.4.22**|**Cash flow**|**At 5.4.23**|
|---|---|---|---|
||**£**|**£**|**£**|
|**Net cash**||||
|Cash at bank and in hand|34,829|(18,819)|16,010|
||34,829|(18,819)|16,010|
|**Total**|34,829|(18,819)|16,010|
The notes form part of these financial statements
Page 8
**FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All donations are accounted for when received. All other income is recognised on a receivable basis
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure,
Raising funds comprise the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
Grants are only recognised in the accounts when paid.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings
- 15% on reducing balance
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## **Foreign currencies**
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.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
Page 9
## **FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2023**
|**2.**
**DONATIONS AND LEGACIES**
**2023**
**£**
Donations
438,444
Donations for Global Centre of Gur
475,000
913,444
**3.**
**CHARITABLE ACTIVITIES COSTS**
**Grant**
**funding of**
**activities**
**Support**
**(see note**
**costs (see**
**4)**
**note 5)**
**£**
**£**
Global Centre of Gur
920,000
-
Support
-
7,356
920,000
7,356
**4.**
**GRANTS PAYABLE**
**2023**
**£**
Global Centre of Gur
920,000
The total grants paid to institutions during the year was as follows:
**2023**
**£**
Advancement of religion
920,000
All grants were to Global Centre for Gur - Hamerkaz Haolam
**5.**
**SUPPORT COSTS**
**Governance**
**Management**
**costs**
**£**
**£**
Support
4,362
2,994|**2022**
**£**
384,054
362,000|
|---|---|
||746,054|
||**Totals**
**£**
920,000
7,356|
||927,356|
||**2022**
**£**
804,084|
||**2022**
**£**
804,084|
||**Totals**
**£**
7,356|
Page 10
## **FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2023**
## **5. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
## **Management**
|**Management**|||
|---|---|---|
||**2023**|**2022**|
|||**Total**|
||**Support**|**activities**|
||**£**|**£**|
|Telephone|739|528|
|Postage and stationery|800|553|
|Bank charges|448|517|
|Sundries|2,277|861|
|Depreciation of tangible and heritage|||
|assets|98|115|
||4,362|2,574|
|**Governance costs**|||
||**2023**|**2022**|
|||**Total**|
||**Support**|**activities**|
||**£**|**£**|
|Independent examiner's fee|1,200|1,200|
|Independent examiner's other fees|1,440|1,440|
|General expenses|354|354|
||2,994|2,994|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.
## **7. TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**||
|---|---|
||**Fixtures**|
||**and**|
||**fittings**|
||**£**|
|**COST**||
|At 6 April 2022 and 5 April 2023|1,723|
|**DEPRECIATION**||
|At 6 April 2022|1,064|
|Charge for year|98|
|At 5 April 2023|1,162|
|**NET BOOK VALUE**||
|At 5 April 2023|561|
|At 5 April 2022|659|
Page 11
## **FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2023**
|**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**9.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**Unrestricted**
**Restricted**
**fund**
**fund**
**£**
**£**
Fixed assets
561
-
Current assets
16,010
-
Current liabilities
(2,640)
-
13,931
-
**10.**
**MOVEMENT IN FUNDS**
**At 6.4.22**
**£**
**Unrestricted funds**
General fund
27,848
**Restricted funds**
Restricted fund
5,000
**TOTAL FUNDS**
32,848
Net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
438,444
**Restricted funds**
Restricted fund
475,000
**TOTAL FUNDS**
913,444|**2023**
**2022**
**£**
**£**
2,640
2,640
**2023**
**2022**
**Total**
**Total**
**funds**
**funds**
**£**
**£**
561
659
16,010
34,829
(2,640)
(2,640)
13,931
32,848
**Net**
**movement**
**At**
**in funds**
**5.4.23**
**£**
**£**
(13,917)
13,931
(5,000)
-
(18,917)
13,931
**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(452,361)
(13,917)
(480,000)
(5,000)
(932,361)
(18,917)|
|---|---|
Page 12
**FRIENDS OF GUR FOUNDATION ISRAEL (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2023**
## **10. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**At 6.4.21**
**£**
**Unrestricted funds**
General fund
54,417
**Restricted funds**
Restricted fund
45,000
**TOTAL FUNDS**
99,417
Comparative net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
312,810
**Restricted funds**
Restricted fund
433,244
**TOTAL FUNDS**
746,054|**Net**
**movement**
**At**
**in funds**
**5.4.22**
**£**
**£**
(26,569)
27,848
(40,000)
5,000
(66,569)
32,848
**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(339,379)
(26,569)
(473,244)
(40,000)
(812,623)
(66,569)|
|---|---|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 5 April 2023.
Page 13