COMPANY REGISTRATION NUMBER: 10332876 CHARITY REGISTRATION NUMBER: 1175668
Keren Hayesod - United Israel Appeal UK Company Limited by Guarantee
Unaudited Financial Statements
For the year ended 31 August 2022
Keren Hayesod - United Israel Appeal UK
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2022
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
Keren Hayesod - United Israel Appeal UK
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2022
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2022.
| Reference and administrative details | ||
|---|---|---|
| Registered charity name | Keren Hayesod - United Israel Appeal UK | |
| Charity registration number | 1175668 | |
| Company registration number | 10332876 | |
| Principal office and registered | Third Floor | |
| office | 20 Old Bailey | |
| London | ||
| EC4M 7AN | ||
| The trustees | ||
| Mr P E Fineman | (Resigned 26 June 2022) | |
| Mr D B Harris | (Resigned 26 June 2022) | |
| Mr R Marom | ||
| Mr G A Spiro | (Resigned 26 June 2022) | |
| Mr G Grundwerg | (Appointed 26 June 2022) | |
| Mr S Zomer | (Appointed 26 June 2022) | |
| Independent examiner | Gibson Booth | |
| New Court | ||
| Abbey Road North | ||
| Shepley | ||
| Huddersfield | ||
| HD8 8BJ |
Structure, governance and management
Governing document
Keren Hayesod - United Israel Appeal UK (or the "Charity") is governed by its articles of association, and is structured as a company, limited by guarantee (registered company number 10332876), as defined by the Companies Act 2006.
Appointment of Trustees
Trustees can be appointed by the members or co-opted by the existing Trustees.
Trustee induction and training
New trustees are briefed on their legal obligations under charity law, the content of the Memorandum and Articles of Association, the trustees' decision making processes and the recent financial performance of the Charity.
Organisation structure
Keren Hayesod - United Israel Appeal UK was incorporated on 17 August 2016 and registered with the Charity Commission on 9 November 2017. Keren Hayesod - United Israel Appeal UK is a company limited by guarantee and does not have any share capital. It is governed by its articles of association. The board of Trustees (the "Trustees"), which must consist of at least 2 trustees, administers the Charity with assistance, as required.
Relationships with other charities and organisations with which it co- operates in the pursuit of its charitable objectives. Keren Hayesod - United Israel Appeal UK works closely with Keren Hayesod - HaMagbit HaMeuhedet LeIsrael. This is an Israeli charity which shares some common charitable aims and informally licences the Charity use of the name 'Keren Hayesod'. The UK Charity is however a distinct entity, distinct from the Israeli Charity and run independently of it.
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Keren Hayesod - United Israel Appeal UK
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2022
Objectives and activities
The charity is a registered charity (number 1175668) whose charitable objects are as follows:
Such charitable purposes for the public benefit as the Trustees may in their absolute discretion determine, and in particular for:
(a) the advancement of the Jewish faith including by increasing understanding among the public generally and members of the Jewish community in the United Kingdom in particular of Jewish religion and culture, both within and outside Israel;
(b) the advancement of education, in particular but without limitation of Jewish religious, ethical and/or secular education;
(c) the relief of poverty;
(d) the promotion of health and the relief of sickness;
(e) the relief of those in need by reason of youth or advanced age;
(f) the relief of need or suffering among refugees and persons displaced from their home or domicile by reason of hostilities, persecution, oppression, discrimination, natural disaster or other causes; and
(g) the promotion of the arts, culture and heritage, by the protection, preservation and improvement of historic buildings and monuments in Israel and elsewhere.
The trustees have paid due regard to public benefit guidance issued by the Charity Commission in deciding what activities the charity should undertake to advance the charity's objects.
The Charity is a grant-maker, and its operations consist of the consideration of charitable projects to advance its purposes for the public benefit, and the making of grants. The Charity's aims and strategies are to increase its operations, so as more effectively to advance its charitable purposes.
The Charity has adopted a formal grant-making policy, which ensures that grants are only approved by the Trustees which further the Charity's objects for the public benefit, and which attach all grants to suitable terms and conditions to ensure they are used only for the charitable purposes for which they are granted.
Achievements and performance
The Charity has not paid any grants out during the period, but it has collected further income in the year, and it is expected that further grants shall be made in future periods, in furtherance of its charitable objects.
Financial review
At the year end the charity had unrestricted funds totalling £285,560 (2021; £21,398). During the year, income of £265,455 (2021; £10,919) was received, and there was expenditure totalling £1,293 (2021; £1,343).
Principal risks and uncertainties
The trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems are in place to mitigate the exposure to the major risks, including on-going monitoring of the charities activities by the trustees.
Reserves policy
The reserves at the year end were £285,560 (2021: £21,398). This was all unrestricted funds. The charity aims to hold unrestricted funds which have not been designated for a specific use at a level of at least six months' overhead expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities.
Principal funding sources and how they support key objectives
The Charity has received donations from members of the public and from charitable organisations during the period. These donations have enabled the Charity to undertake charitable grant-making for the public benefit, in furtherance of its purposes.
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Keren Hayesod - United Israel Appeal UK
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2022
Plans for future periods
In future years, the Trustees will look to continue to advance the Charity's objects and its engagement in grant-making activities.
Fundraising from the public
The Charity has not carried out significant fundraising activities from the general public during the period.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
30 May 2023
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mr S Zomer (May 30, 2023, 11:49am) Mr S Zomer Trustee
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Keren Hayesod - United Israel Appeal UK
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Keren Hayesod - United Israel Appeal UK
Year ended 31 August 2022
I report to the trustees on my examination of the financial statements of Keren Hayesod - United Israel Appeal UK ('the charity') for the year ended 31 August 2022.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Patrick Heaton Independent Examiner
Patrick Heaton (May 30, 2023, 11:58am)
Gibson Booth New Court Abbey Road North Shepley Huddersfield HD8 8BJ
30/05/23
Patrick Heaton (May 30, 2023, 11:58am)
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Keren Hayesod - United Israel Appeal UK
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 265,433 | 265,433 | 10,919 |
| Investment income | 6 | 22 | 22 | – |
| -------------------------- | -------------------------- | ---------------------- | ||
| Total income | 265,455 | 265,455 | 10,919 | |
| ========================== | ========================== | ====================== | ||
| Expenditure | ||||
| Expenditure on charitable activities | 7,8 | (1,293) | (1,293) | (1,343) |
| -------------------------- | -------------------------- | ---------------------- | ||
| Total expenditure | (1,293) | (1,293) | (1,343) | |
| ========================== | ========================== | ====================== | ||
| -------------------------- | -------------------------- | ---------------------- | ||
| Net income and net movement in funds | 264,162 | 264,162 | 9,576 | |
| ========================== | ========================== | ====================== | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 21,398 | 21,398 | 11,822 | |
| -------------------------- | -------------------------- | ---------------------- | ||
| Total funds carried forward | 285,560 | 285,560 | 21,398 | |
| ========================== | ========================== | ====================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 9 form part of these financial statements.
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Keren Hayesod - United Israel Appeal UK
Company Limited by Guarantee
Statement of Financial Position
31 August 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Cash at bank and in hand | 290,120 | 24,758 | |
| Creditors: amounts falling due within one year | 11 | (4,560) | (3,360) |
| -------------------------- | ---------------------- | ||
| Net current assets | 285,560 | 21,398 | |
| -------------------------- | ---------------------- | ||
| Total assets less current liabilities | 285,560 | 21,398 | |
| -------------------------- | ---------------------- | ||
| Net assets | 285,560 | 21,398 | |
| ========================== | ====================== | ||
| Funds of the charity | |||
| Unrestricted funds | 285,560 | 21,398 | |
| -------------------------- | ---------------------- | ||
| Total charity funds | 12 | 285,560 | 21,398 |
| ========================== | ====================== |
For the year ending 31 August 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
30 May 2023
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Mr S Zomer (May 30, 2023, 11:49am) Mr S Zomer Trustee
The notes on pages 7 to 9 form part of these financial statements.
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Keren Hayesod - United Israel Appeal UK
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2022
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Third Floor, 20 Old Bailey, London, EC4M 7AN.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £. The significant accounting policies consistently applied in the preparation of these financial statements are set out below.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates. Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
4. Limited by guarantee
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 265,433 | 265,433 | 10,919 | 10,919 | |
| ========================== | ========================== | ====================== | ====================== | ||
| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 22 | 22 | – | – | |
| =========== | =========== | =========== | =========== |
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Keren Hayesod - United Israel Appeal UK
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
7. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Support costs | 1,293 | 1,293 | 1,343 | 1,343 |
| =================== | =================== | =================== | =================== | |
| Expenditure on charitable activities by activity type | ||||
| Support costs | Total funds 2022 | Total fund 2021 | ||
| £ | £ | £ | ||
| Governance costs | 1,293 | 1,293 | 1,343 | |
| =================== | =================== | =================== |
8. Expenditure on charitable activities by activity type
9. Staff costs
There were no employees during the period.
10. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees (2021: none). No trustee expenses have been incurred during the year (2021: none).
11. Creditors: amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 1,200 | 3,360 |
| Other creditors | 3,360 | – |
| ------------------- | ------------------- | |
| 4,560 | 3,360 | |
| =================== | =================== |
12. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| 1 | September 202 | At | |||
| 1 | Income | Expenditure | 31 August 2022 | ||
| £ | £ | £ | £ | ||
| General funds | 21,398 | 265,455 | (1,293) | 285,560 | |
| ====================== | ========================== | =================== | ========================== | ||
| At | |||||
| 1 | September 202 | At | |||
| 0 | Income | Expenditure | 31 August 2021 | ||
| £ | £ | £ | £ | ||
| General funds | 11,822 | 10,919 | (1,343) | 21,398 | |
| ====================== | ====================== | =================== | ====================== |
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Keren Hayesod - United Israel Appeal UK
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
13. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2022 | |
| £ | £ | |
| Current assets | 290,120 | 290,120 |
| Creditors less than 1 year | (4,560) | (4,560) |
| -------------------------- | -------------------------- | |
| Net assets | 285,560 | 285,560 |
| ========================== | ========================== | |
| Unrestricted | Total Funds | |
| Funds | 2021 | |
| £ | £ | |
| Current assets | 24,758 | 24,758 |
| Creditors less than 1 year | (3,360) | (3,360) |
| ---------------------- | ---------------------- | |
| Net assets | 21,398 | 21,398 |
| ====================== | ====================== |
14. Related parties
During the year the charity was advanced £3,360 by Keren Hayesod - HaMagbit HaMeuhedet LeIsrael, a member of the charity (2021: £nil). This balance was outstanding at the year end.
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