Charity registration number 1173165
LINAS HACHESED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
LINAS HACHESED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr I Honig |
|---|---|
| Mr J Stern | |
| Mr Y Kohn | |
| Charity number | 1173165 |
| Principal address | 13 Grosvenor Way |
| London | |
| E5 9ND | |
| Independent examiner | Mr J Silver FCCA |
| 32 Castlewood Road | |
| London | |
| N16 6DW |
LINAS HACHESED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 8 |
LINAS HACHESED
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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
The object of the charity is the relief of poverty or financial hardship of people living in Israel by making grants of money for providing or payment for food, clothing, accommodation and other items services or facilities for such needy people.
The Trustees confirm their compliance with the duty to have due regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.
Achievements and performance
During the year the Charity continued its philanthropic activities in support of provisions of basic necessities for the poor and relief of sickness and disabilities.
The charity received £26,116 in donations during the year and £27,546 was paid out by way of grants and other expenditure. All grants were made in line with the stated objects of the charity.
Financial review
The trustees are satisfied with the charitable activities undertaken by the charity in the year, and will increase their fundraising efforts going forward to meet their reserves policy below.
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
There are no current plans to change the activities or modus operandi of the charity in the foreseeable future.
Structure, governance and management
The charity is controlled by its governing document, a deed of trust, and constitutes a Charitable Incorporated Organisation.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr I Honig Mr J Stern Mr Y Kohn
The day to day affairs of the Charity are administered by the Board of Trustees. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures. None of the Trustees have any beneficial interest in the Charity.
The trustees' report was approved by the Board of Trustees.
..............................
Mr J Stern
Trustee Dated: .........................
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LINAS HACHESED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF LINAS HACHESED
I report to the trustees on my examination of the financial statements of Linas Hachesed (the charity) for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
J Silver FCCA Precision Ltd 32 Castlewood Road London N16 6DW Dated: .........................
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LINAS HACHESED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted Unrestricted | Unrestricted Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 26,116 | 71,282 |
| Expenditure on: | |||
| Raising funds | 4 | - | 260 |
| Charitable activities | 5 | 27,546 | 74,873 |
| Total expenditure | 27,546 | 75,133 | |
| Net expenditure for the year/ | |||
| Net movement in funds | (1,430) | (3,851) | |
| Fund balances at 1 April 2023 | 1,430 | 5,281 | |
| Fund balances at 31 March 2024 | - | 1,430 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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LINAS HACHESED
BALANCE SHEET
AS AT 31 MARCH 2024
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Income funds Unrestricted funds The financial statements were approved by the Trustees on ..... .............................. Mr J Stern Trustee |
2024 £ - - .................... |
£ - - - |
2023 £ 1,850 (420) |
£ 1,430 |
|---|---|---|---|---|
| 1,430 | ||||
| 1,430 | ||||
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LINAS HACHESED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
Charity information
Linas Hachesed is a Charitable Incorporated Organisation.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
The financial statements have been prepared on a going concern basis as the trustees are of the opinion that the charity will continue for the foreseeable future based upon the continued financial support from the community.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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LINAS HACHESED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.5 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.7 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There have been no material adjustments based on estimations and assumptions during the financial year.
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LINAS HACHESED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
| 3 4 5 6 |
Donations and legacies Unrestricted Unrestricted funds funds 2024 2023 £ £ Donations and gifts 26,116 71,282 Raising funds Total Unrestricted funds 2024 2023 £ £ Fundraising and publicity Other fundraising costs - 260 - 260 Charitable activities Charitable Expenditure Charitable Expenditure 2024 2023 £ £ Grant funding of activities (see note 6) 27,138 74,183 Share of governance costs (see note 7) 408 690 27,546 74,873 Grants payable Charitable Expenditure Charitable Expenditure 2024 2023 £ £ Grants to institutions: Linas Hachesed – Jerusalem Open House 27,138 33,180 |
|---|---|
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LINAS HACHESED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
7 Support costs
| Support costs Governance costs £ £ Accountancy - 180 Legal and professional - 228 - 408 Analysed between Charitable activities - 408 |
2024 £ 180 228 408 408 |
2023 £ 480 210 |
|---|---|---|
| 690 | ||
| 690 |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
10 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
11 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Other creditors | - | 420 |
12 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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