CHARITY INCORPORATED ORGANISATION (CIO) NUMBER: 1194831
AMUD YOMI L'ANASH Unaudited Financial Statements
31 December 2023
WHITESIDE AND DAVIES LTD
Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE
AMUD YOMI L'ANASH
Financial Statements
Year ended 31 December 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Statement of financial activities | 3 |
| Statement of financial position | 4 |
| Notes to the financial statements | 5 |
AMUD YOMI L'ANASH
Trustees' Annual Report
Year ended 31 December 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023.
Reference and administrative details
Registered charity name AMUD YOMI L'ANASH Charity registration number 1194831 Principal office
The trustees
Mr B Davidoff Mr J Korer Mrs S Feldman Accountants Whiteside and Davies Ltd Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE
Structure, governance and management
The Charity, constituted by CIO - Foundation Registered 17 June 2021 and is a Registered Charity. The trustees in office throughout the year were Mr Jonathan Korer, Mr Bradley Davidoff & Mrs Sora Feldman. The trustees or any person connected with them did not receive any remuneration or expense allowance during the year.
Objectives and activities
The objects of the charity are: To advance the Jewish religion for the benefit of the public through:
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1) the Teaching of the Torah, Talmud and other Jewish Texts and Scriptures, in particular but not exclusively online,
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2) any such other activities charitable in law which the trustees consider will generally foster the spirit and practice of Traditional Judaism.
During the year, the Charity has organised two Torah learning classes online; one in Hebrew and the other in English. The classes take place five times a week, from Sunday until Thursday.
The charity also has compiled written learning material to accompany the classes. These are available free to anyone.
Achievements and performance
During the year, in pursuance of its charitable objects, the Charity has organised two Torah learning classes online; one in Hebrew and the other in English. The classes take place five times a week, from Sunday until Thursday. The charity also has compiled written learning material to accompany the classes. These are available free to anyone.
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AMUD YOMI L'ANASH
Trustees' Annual Report (continued)
Year ended 31 December 2023
Financial review
At the end of the financial period, on 31 December 2022, the charity has a deficit of £243 and total funds carried forward of £300. These are all unrestricted funds. The charity is in surplus and expects to remain so for the foreseeable future. The charity is in its early years and the trustees expect it to grow in the coming year.
The trustees' annual report was approved on 5 November 2024 and signed on behalf of the board of trustees by:
Mr J Korer Trustee
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AMUD YOMI L'ANASH
Statement of Financial Activities
Year ended 31 December 2023
| 2023 | 2023 | 2022 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 8,592 | 8,592 | 3,950 |
| ----------------------- | ----------------------- | ----------------------- | ||
| Total income | 8,592 | 8,592 | 3,950 | |
| ======================= | ======================= | ======================= | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 5 | 4,578 | 4,578 | – |
| Expenditure on charitable activities | 6,7 | 4,257 | 4,257 | 3,407 |
| ----------------------- | ----------------------- | ----------------------- | ||
| Total expenditure | 8,835 | 8,835 | 3,407 | |
| ======================= | ======================= | ======================= | ||
| ----------------------- | ----------------------- | ----------------------- | ||
| Net (expenditure)/income and net movement in funds | (243) | (243) | 543 | |
| ======================= | ======================= | ======================= | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 543 | 543 | – | |
| ----------------------- | ----------------------- | ----------------------- | ||
| Total funds carried forward | 300 | 300 | 543 | |
| ======================= | ======================= | ======================= |
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 5 to 9 form part of these financial statements.
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AMUD YOMI L'ANASH
Statement of Financial Position
31 December 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Cash at bank and in hand | 900 | 543 | |
| Creditors: amounts falling due within one year | 12 | 600 | – |
| -------------- | -------------- | ||
| Net current assets | 300 | 543 | |
| -------------- | -------------- | ||
| Total assets less current liabilities | 300 | 543 | |
| -------------- | -------------- | ||
| Net assets | 300 | 543 | |
| ============== | ============== | ||
| Funds of the charity | |||
| Unrestricted funds | 300 | 543 | |
| -------------- | -------------- | ||
| Total charity funds | 13 | 300 ============== |
543 ============== |
These financial statements were approved by the board of trustees and authorised for issue on 5 November 2024, and are signed on behalf of the board by:
Mr J Korer Trustee
The notes on pages 5 to 9 form part of these financial statements.
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AMUD YOMI L'ANASH
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 36a Colberg Place, Londonn, N16 5RB.
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 Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
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.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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AMUD YOMI L'ANASH
Notes to the Financial Statements (continued)
Year ended 31 December 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are 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. The following specific policies are applied to particular categories of income:
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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.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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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.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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AMUD YOMI L'ANASH
Notes to the Financial Statements (continued)
Year ended 31 December 2023
3. Accounting policies (continued)
Financial instruments (continued)
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 8,592 | 8,592 | 3,950 | 3,950 | |
| ======================= | ======================= | ======================= | ======================= | ||
| 5. | Costs of raising donations and | legacies | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Costs of raising donations and | |||||
| legacies - Donations | 4,578 | 4,578 | – | – | |
| ======================= | ======================= | ============== | ============== |
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AMUD YOMI L'ANASH
Notes to the Financial Statements (continued)
Year ended 31 December 2023
6. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Charitable activities | 1,632 | 1,632 | 3,407 | 3,407 |
| Support costs | 2,625 | 2,625 | – | – |
| ----------------------- | ----------------------- | ----------------------- | ----------------------- | |
| 4,257 | 4,257 | 3,407 | 3,407 | |
| ======================= | ======================= | ======================= | ======================= | |
| Expenditure on charitable activities by activity type | ||||
| Activities | ||||
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Charitable activities | 1,632 | 2,025 | 3,657 | 3,407 |
| Governance costs | – | 600 | 600 | – |
| ----------------------- | ----------------------- | ----------------------- | ----------------------- | |
| 1,632 | 2,625 | 4,257 | 3,407 | |
| ======================= | ======================= | ======================= | ======================= |
7. Expenditure on charitable activities by activity type
8. Analysis of support costs
| Analysis of | |||
|---|---|---|---|
| support costs | Total 2023 | Total 2022 | |
| £ | £ | £ | |
| Premises | 450 | 450 | – |
| Communications and IT | 32 | 32 | – |
| General office | 1,345 | 1,345 | – |
| Finance costs | 198 | 198 | – |
| Governance costs | 600 | 600 | – |
| ----------------------- | ----------------------- | -------------- | |
| 2,625 | 2,625 | – | |
| ======================= | ======================= | ============== | |
| Independent examination fees | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 600 ============== |
– ============== |
9. Independent examination fees
10. Staff costs
The average head count of employees during the year was Nil (2022: Nil).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
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AMUD YOMI L'ANASH
Notes to the Financial Statements (continued)
Year ended 31 December 2023
12. Creditors: amounts falling due within one year
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Accruals and deferred income | 600 | – | |||
| ============== | ============== | ||||
| Analysis of charitable funds | |||||
| Unrestricted funds | |||||
| At | |||||
| At | 31 December | ||||
| 1 January | 23 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | ||
| General funds | 543 | 8,592 | (8,835) | 300 | |
| ============== | ======================= | ======================= | ============== | ||
| At | |||||
| At | 31 December | ||||
| 1 January | 22 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | ||
| General funds | – | 3,950 | (3,407) | 543 | |
| ============== | ======================= | ======================= | ============== |
13. Analysis of charitable funds
14. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Current assets | 900 | 900 |
| Creditors less than 1 year | (600) | (600) |
| -------------- | -------------- | |
| Net assets | 300 | 300 |
| ============== | ============== | |
| Unrestricted | Total Funds | |
| Funds | 2022 | |
| £ | £ | |
| Current assets | 543 | 543 |
| Creditors less than 1 year | – | – |
| -------------- | -------------- | |
| Net assets | 543 | 543 |
| ============== | ============== |
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