REGISTERED COMPANY NUMBER: 11823620 (England and Wales) REGISTERED CHARITY NUMBER: 1189054
KEREN YETEV LEV LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
KEREN YETEV LEV LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 | |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 | |
| Notes to the Financial Statements | 6 to | 7 |
KEREN YETEV LEV LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2022
| TRUSTEES | M Landau |
|---|---|
| O Low | |
| M Freund | |
| REGISTERED OFFICE | 15 Clapton Common |
| London | |
| E5 9AA | |
| REGISTERED COMPANY | 11823620 (England and Wales) |
| NUMBER | |
| REGISTERED CHARITY | 1189054 |
| NUMBER | |
| INDEPENDENT EXAMINER | Sugarwhite Meyer Accountants Ltd |
| First Floor | |
| 94 Stamford Hill | |
| London | |
| N16 6XS | |
| BANKERS | Barclays Bank Plc |
| 1-5 Market Street | |
| Bolton | |
| BL1 1BU |
Page 1
KEREN YETEV LEV LIMITED (REGISTERED NUMBER: 11823620)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. 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 object of the charity is the advancement of the Orthodox Jewish Faith for the public benefit. In particular but not exclusively, by providing grants to such charitable organisations as the trustees from time to time think fit.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Other than the receipt of donations there was no other activity during the period under review.
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 £488,718 (2021 - 303,151).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 13 February 2019.
Organisational structure and appointment of trustees
The day-to-day affairs of the company are administered by the trustees. It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
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.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 17 January 2023 and signed on its behalf by:
M Freund - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KEREN YETEV LEV LIMITED
Independent examiner's report to the trustees of Keren Yetev Lev Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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
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 Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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 accounts 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.
E Meyer FCA BSc Institute of Chartered Accountants in England & Wales Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
17 January 2023
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KEREN YETEV LEV LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 187,500 EXPENDITURE ON Charitable activities 2 Support 1,933 NET INCOME 185,567 RECONCILIATION OF FUNDS Total funds brought forward 303,151 TOTAL FUNDS CARRIED FORWARD 488,718 |
2021 Total funds £ 300,000 |
|---|---|
| 1,849 | |
| 298,151 5,000 |
|
| 303,151 |
The notes form part of these financial statements
Page 4
KEREN YETEV LEV LIMITED (REGISTERED NUMBER: 11823620)
BALANCE SHEET 31 MARCH 2022
| Notes CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds: General fund TOTAL FUNDS |
2022 Total funds £ 489,318 (600) 488,718 488,718 488,718 488,718 488,718 |
2021 Total funds £ 303,751 (600) 303,151 303,151 303,151 303,151 303,151 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 17 January 2023 and were signed on its behalf by:
M Freund - Trustee
The notes form part of these financial statements
Page 5
KEREN YETEV LEV LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
Income received by way of donations is accounted for 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.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Going concern
There are no material uncertainties about the charity's ability to continue.
2. CHARITABLE ACTIVITIES COSTS
| 2. | CHARITABLE ACTIVITIES COSTS | |||
|---|---|---|---|---|
| Support | ||||
| costs (see | ||||
| note 3) | ||||
| £ | ||||
| Support | 1,933 | |||
| 3. | SUPPORT COSTS | |||
| Governance | ||||
| Finance | costs | Totals | ||
| £ | £ | £ | ||
| Support | 85 | 1,848 | 1,933 |
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KEREN YETEV LEV LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
3. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
Governance costs
| Governance costs | ||
|---|---|---|
| 2022 | 2021 | |
| Total | ||
| Support | activities | |
| £ | £ | |
| Independent examiner's fee | 300 | 300 |
| Independent examiner's other fees | 300 | 300 |
| Legal and professional fees | 1,248 | 1,200 |
| 1,848 | 1,800 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
5. AVERAGE NUMBER OF EMPLOYEES
The average number of employees in the year was Nil (2021 - Nil).
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 600 | 600 |
7. RELATED PARTY DISCLOSURES
The charity received its income from a charity in which a trustee has an interest.
Page 7