REGISTERED CHARITY NUMBER: 1170523
LEHACHYOS
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
LEHACHYOS
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 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 | ||
| Notes to the Financial Statements | 7 | to | 10 |
LEHACHYOS
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2023
TRUSTEES M Freund P Herzka M Greenfeld PRINCIPAL ADDRESS Flat 2 Stroh Court 9 Amhurst Park London N16 5DH REGISTERED CHARITY 1170523 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS BANKERS TSB Bank plc 174 Clapton Common London E5 9AQ
Page 1
LEHACHYOS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 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 prevention or relief of poverty, in particular but not exclusively in Israel by providing grants, items and services to individuals in need or organisations working to prevent or relieve poverty;
(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 charity carries out its objects by publishing religious booklets and grantmaking.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees are satisfied with the results of the year. Income remained largely consistent with the previous year, with expenditure on charitable activities reduced by almost 7%. This has left the charity with a surplus of £14,416 for the year which has had a significant impact on the charity's deficit.
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 in deficit of £26,380 (2022 - £40,796 deficit).
FUTURE PLANS
The charity plans to continue its activities subject to satisfactory income.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted and governed by Deed of Trust dated 17 June 2016 as amended on 7 February 2017.
Recruitment and appointment of new 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 that 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).
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LEHACHYOS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 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
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 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 12 December 2023 and signed on its behalf by:
P Herzka - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEHACHYOS
Independent examiner's report to the trustees of Lehachyos
I report to the charity trustees on my examination of the accounts of Lehachyos (the Trust) for the year ended 31 March 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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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
12 December 2023
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LEHACHYOS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 346,699 | 343,344 | |
| EXPENDITURE ON | |||
| Raising funds | 2,336 | 6,352 | |
| Charitable activities | 2 | ||
| Religious publications | 47,342 | 24,918 | |
| Grantmaking | 279,136 | 325,676 | |
| Support | 3,469 | 2,558 | |
| Total | 332,283 | 359,504 | |
| NET INCOME/(EXPENDITURE) | 14,416 | (16,160) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (40,796) | (24,636) | |
| TOTAL FUNDS CARRIED FORWARD | (26,380) | (40,796) |
The notes form part of these financial statements
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LEHACHYOS
BALANCE SHEET 31 MARCH 2023
| Notes CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 7 NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS |
2023 Total funds £ 16,944 (6,680) 10,264 10,264 (36,644) (26,380) (26,380) (26,380) |
2022 Total funds £ 8,334 (7,380) 954 954 (41,750) (40,796) (40,796) (40,796) |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 12 December 2023 and were signed on its behalf by:
P Herzka - Trustee
The notes form part of these financial statements
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LEHACHYOS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 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
Donations are included in full in the Statement of Financial Activities when received.
Expenditure
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
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.
Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Taxation
The charity is exempt from tax on its charitable activities.
Going concern
There are no material uncertainties about the charity's ability to continue.
2. CHARITABLE ACTIVITIES COSTS
| Religious publications Grantmaking Support |
Direct Costs £ 47,342 - - 47,342 |
Grant funding of activities (see note 3) £ - 279,136 - 279,136 |
Support costs (see note 4) £ - - 3,469 3,469 |
Totals £ 47,342 279,136 3,469 |
|---|---|---|---|---|
| 329,947 |
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LEHACHYOS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
3. GRANTS PAYABLE
| Grantmaking The total grants paid to institutions during the year was as follows: Advancement of education Relief of poverty Medical Advancement of religion Social welfare Noam Emunah Others under £5,000 The total grants paid to individuals during the year was as follows: Relief of poverty Medical 4. SUPPORT COSTS Finance £ Support 1,149 Support costs, included in the above, are as follows: Finance Bank charges Bank interest |
|
|---|---|
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LEHACHYOS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
4. SUPPORT COSTS - continued Governance costs
| SUPPORT COSTS - continued Governance costs |
||
|---|---|---|
| 2023 | 2022 | |
| Total | ||
| Support | activities | |
| £ | £ | |
| Independent examiner's fee | 840 | 720 |
| Independent examiner's other fees | 840 | 720 |
| General expenses | 354 | 354 |
| Legal and professional fees | 286 | 242 |
| 2,320 | 2,036 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Bank loans and overdrafts (see note 8) | 5,000 | 5,000 | |
| Other creditors | 1,680 | 2,380 | |
| 6,680 | 7,380 | ||
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Bank loans (see note 8) | 36,644 | 41,750 | |
| 8. | LOANS | ||
| An analysis of the maturity of loans is given below: | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Amounts falling due within one year on demand: | |||
| Bank loans | 5,000 | 5,000 | |
| Amounts falling due between two and five years: | |||
| Bank loans - 2-5 years | 36,644 | 41,750 |
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LEHACHYOS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
9. RELATED PARTY DISCLOSURES
The charity received unrestricted donations of £6,210 from one of the Trustees.
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