REGISTERED CHARITY NUMBER: 1168057
FRIENDS OF GUR FOUNDATION ISRAEL (CIO)
## REPORT OF THE TRUSTEES AND
## FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
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 2025
||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 14|
FRIENDS OF GUR FOUNDATION ISRAEL (CIO)
## REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 5 APRIL 2025
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 2025
The trustees present their report with the financial statements of the charity for the year ended 5 April 2025. 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.
## ACHIEVEMENTS AND PERFORMANCE
## Charitable activities
The charity is reliant on voluntary donations. Income for the year was about 45% higher than the previous year and the trustees were able to increase grantmaking. There was a surplus for the for the year which cleared the accumulated deficit. During the year the charity continued its philanthropic activities and has maintained its support in the advancement 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 £7,033 (2024 - £34,712 deficit).
## 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 2025
## STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under charity law the trustees must not approve the financial statements unless they are satisfied that they 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 Charities 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 and The Charity (Accounts and Reports) Regulations 2008. 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 21 January 2026 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 2025.
## 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
21 January 2026
Page 4
## FRIENDS OF GUR FOUNDATION ISRAEL (CIO)
## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025
|Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
496,435
EXPENDITURE ON
Raising funds
8,320
Charitable activities
3
Global Centre of Gur
442,000
Support
4,370
Total
454,690
NET INCOME/(EXPENDITURE)
41,745
RECONCILIATION OF FUNDS
Total funds brought forward
(34,712)
TOTAL FUNDS CARRIED FORWARD
7,033|Restricted
fund
£
20,000
-
20,000
-
20,000
-
-
-|2025
Total
funds
£
516,435
8,320
462,000
4,370
474,690
41,745
(34,712)
7,033|2024
Total
funds
£
357,124
15,167
386,500
4,100
405,767
(48,643)
13,931
(34,712)|
|---|---|---|---|
The notes form part of these financial statements
Page 5
## FRIENDS OF GUR FOUNDATION ISRAEL (CIO)
## BALANCE SHEET
## 5 APRIL 2025
|Notes
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Cash at bank
CREDITORS
Amounts falling due within one year
9
NET CURRENT ASSETS/(LIABILITIES)
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS/(LIABILITIES)
FUNDS
11
Unrestricted funds
TOTAL FUNDS|2025
£
407
8,066
(1,440)
6,626
7,033
7,033
7,033
7,033|2024
£
478
16,730
(51,920)
(35,190)
(34,712)
(34,712)
(34,712)
(34,712)|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 21 January 2026 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 2025
|Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by 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|2025
£
(8,664)
(8,664)
(8,664)
16,730
8,066|2024
£
720|
|---|---|---|
|||720|
||||
|||720
16,010|
|||16,730|
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 2025
## 1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
|ACTIVITIES|||
|---|---|---|
|Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
(Decrease)/increase in creditors
Net cash (used in)/provided by operations|2025
£
41,745
71
(50,480)
(8,664)|2024
£
(48,643)
83
49,280|
|||720|
## 2. ANALYSIS OF CHANGES IN NET FUNDS
||At 6.4.24|Cash flow|At 5.4.25|
|---|---|---|---|
||£|£|£|
|Net cash||||
|Cash at bank|16,730|(8,664)|8,066|
||16,730|(8,664)|8,066|
|Total|16,730|(8,664)|8,066|
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 2025
## 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
The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern notwithstanding the deficiency in net assets at the balance sheet date. The trustees consider this to be appropriate having regard to the continued provision of financial support by the charity's creditors.
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## FRIENDS OF GUR FOUNDATION ISRAEL (CIO)
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
## 1. ACCOUNTING POLICIES - continued
## Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs and subsequently measured at their settlement value
## 2. DONATIONS AND LEGACIES
|DONATIONS AND LEGACIES|||
|---|---|---|
|Donations
Donations for Global Centre of Gur|2025
£
496,435
20,000
516,435|2024
£
200,014
157,110|
|||357,124|
## 3. CHARITABLE ACTIVITIES COSTS
|3.
CHARITABLE ACTIVITIES COSTS|||
|---|---|---|
|Grant
funding of
activities
(see note
4)
£
Global Centre of Gur
462,000
Support
-
462,000
4.
GRANTS PAYABLE
Global Centre of Gur
The total grants paid to institutions during the year was as follows:
Advancement of religion|Support
costs (see
note 5)
£
-
4,370
4,370
2025
£
462,000
2025
£
462,000|Totals
£
462,000
4,370|
|||466,370|
|||2024
£
386,500|
|||2024
£
386,500|
All grants were to Global Centre for Gur - Hamerkaz Haolam
Page 10
FRIENDS OF GUR FOUNDATION ISRAEL (CIO)
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
## 5. SUPPORT COSTS
|SUPPORT COSTS||||
|---|---|---|---|
|||Governance||
||Management|costs|Totals|
||£|£|£|
|Support|2,576|1,794|4,370|
|Support costs, included in the above, are as follows:||||
|Management||||
|||2025|2024|
||||Total|
|||Support|activities|
|||£|£|
|Telephone||641|596|
|Postage and stationery||-|707|
|Bank charges||1,195|259|
|Sundries||669|180|
|Depreciation of tangible and heritage||||
|assets||71|83|
|||2,576|1,825|
|Governance costs||||
|||2025|2024|
||||Total|
|||Support|activities|
|||£|£|
|Independent examiner's fee||720|960|
|Independent examiner's other fees||720|960|
|General expenses||354|355|
|||1,794|2,275|
## 6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024.
## Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024.
Page 11
FRIENDS OF GUR FOUNDATION ISRAEL (CIO)
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
## 7. STAFF COSTS
The average monthly number of employees during the year was as follows:
|Office
No employees received emoluments in excess of £60,000.
8.
TANGIBLE FIXED ASSETS
COST
At 6 April 2024 and 5 April 2025
DEPRECIATION
At 6 April 2024
Charge for year
At 5 April 2025
NET BOOK VALUE
At 5 April 2025
At 5 April 2024
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
10.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
fund
fund
£
£
Fixed assets
407
-
Current assets
8,066
-
Current liabilities
(1,440)
-
7,033
-|2025
1
2025
£
1,440
2025
Total
funds
£
407
8,066
(1,440)
7,033|2024
1
Fixtures
and
fittings
£
1,723
1,245
71
1,316
407
478
2024
£
51,920
2024
Total
funds
£
478
16,730
(51,920)
(34,712)|
|---|---|---|
Page 12
## FRIENDS OF GUR FOUNDATION ISRAEL (CIO)
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
## 11. MOVEMENT IN FUNDS
|MOVEMENT IN FUNDS||||
|---|---|---|---|
|||Net||
|||movement|At|
||At 6.4.24|in funds|5.4.25|
||£|£|£|
|Unrestricted funds||||
|General fund|(34,712)|41,745|7,033|
|TOTAL FUNDS|(34,712)|41,745|7,033|
|Net movement in funds, included in the above are as|follows:|||
||Incoming|Resources|Movement|
||resources|expended|in funds|
||£|£|£|
|Unrestricted funds||||
|General fund|496,435|(454,690)|41,745|
|Restricted funds||||
|Restricted fund|20,000|(20,000)|-|
|TOTAL FUNDS|516,435|(474,690)|41,745|
|Comparatives for movement in funds||||
|||Net||
|||movement|At|
||At 6.4.23|in funds|5.4.24|
||£|£|£|
|Unrestricted funds||||
|General fund|13,931|(48,643)|(34,712)|
|TOTAL FUNDS|13,931|(48,643)|(34,712)|
|Comparative net movement in funds, included in the above are as follows:||||
||Incoming|Resources|Movement|
||resources|expended|in funds|
||£|£|£|
|Unrestricted funds||||
|General fund|200,014|(248,657)|(48,643)|
|Restricted funds||||
|Restricted fund|157,110|(157,110)|-|
|TOTAL FUNDS|357,124|(405,767)|(48,643)|
Page 13
FRIENDS OF GUR FOUNDATION ISRAEL (CIO)
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
## 12. RELATED PARTY DISCLOSURES
A close relative of a trustee received £8,320 (2024 -£8,480) wages in the year.
Page 14