REGISTERED CHARITY NUMBER: 1172236
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
BRITISH FRIENDS OF THE OPEN UNIVERSITY OF ISRAEL (BFOUI)
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London
N3 1DH
BRITISH FRIENDS OF THE OPEN UNIVERSITY OF ISRAEL (BFOUI)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 6 |
BRITISH FRIENDS OF THE OPEN UNIVERSITY OF ISRAEL (BFOUI)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the charity is to promote, advance or assist in the advancement of education in general and the educational aims, objects and activities of the open university of Israel ("OUI") in particular, and through or in association with the OUI, to promote or assist in promoting such charitable purpose or purposes connected with the advancement of education whether in the United Kingdom, the State of Israel, or elsewhere and in such proportion and manner as the trustees shall in their absolute discretion from time to time determine.
Public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grantmaking policy.
Volunteers
The charity has no UK volunteers.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The results for the period at the year end were considered satisfactory by the trustees.
A summary of the charity's transactions and of it's financial position are shown in the financial statements together with the accompanying notes.
FINANCIAL REVIEW
Financial position
During the year the charity had total income of £193 (2023: 50) and expenses of £797 (2023: £833), which were primarily the provision of charitable grants..
At the balance sheet date, the charity's total unrestricted funds were in a deficit of £1,149 (2023: £545).
Reserves policy
The trustees do not consider it necessary for the charity to hold reserves because it is a grantmaking charity so it's expenditure is commensurate with its income.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1172236
Principal address
C H Hausmann & Co Suite 5 De Walden Court 85 New Cavendish Street London W1W 6XD
Trustees
Mr A Trager-Lewis Prof. M Ajzenstadt Mr G Hausmann (deceased 27.10.24)
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BRITISH FRIENDS OF THE OPEN UNIVERSITY OF ISRAEL (BFOUI)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
Approved by order of the board of trustees on 31 October 2025 and signed on its behalf by:
Mr A Trager-Lewis - Trustee
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BRITISH FRIENDS OF THE OPEN UNIVERSITY OF ISRAEL (BFOUI)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | |
|---|---|---|
| Unrestricted | Total | |
| fund | funds | |
| £ | £ | |
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 193 | 50 |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Other charitable activities | 797 | 833 |
| NET INCOME/(EXPENDITURE) | (604) | (783) |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | (545) | 238 |
| TOTAL FUNDS CARRIED FORWARD | **(1,149) ** | (545) |
The notes form part of these financial statements
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BRITISH FRIENDS OF THE OPEN UNIVERSITY OF ISRAEL (BFOUI)
BALANCE SHEET 31 DECEMBER 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 21 | 25 | |
| CREDITORS | |||
| Amounts falling due within one year | 3 | (1,170) | (570) |
| NET CURRENT ASSETS/(LIABILITIES) | **(1,149) ** | (545) | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | (1,149) | (545) | |
| NET ASSETS/(LIABILITIES) | **(1,149) ** | (545) | |
| FUNDS | |||
| Unrestricted funds | **(1,149) ** | (545) | |
| TOTAL FUNDS | **(1,149) ** | (545) |
The financial statements were approved by the Board of Trustees and authorised for issue on 31 October 2025 and were signed on its behalf by:
Mr A Trager-Lewis - Trustee
The notes form part of these financial statements
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BRITISH FRIENDS OF THE OPEN UNIVERSITY OF ISRAEL (BFOUI)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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 income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
continued...
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BRITISH FRIENDS OF THE OPEN UNIVERSITY OF ISRAEL (BFOUI)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors |
2024 £ 1,170 |
2023 £ 570 |
|---|---|---|
4. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
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