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2022-10-31-accounts

REGISTERED COMPANY NUMBER: 13692016 (England and Wales) REGISTERED CHARITY NUMBER: 1197673

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 20 OCTOBER 2021 TO 31 OCTOBER 2022

FOR

LIVNOS BAYIS LIMITED

Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

LIVNOS BAYIS LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS for the period 20 October 2021 to 31 October 2022

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 9

LIVNOS BAYIS LIMITED (REGISTERED NUMBER: 13692016)

REPORT OF THE TRUSTEES

for the period 20 October 2021 to 31 October 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 period 20 October 2021 to 31 October 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Objects of the charity include:

a) the prevention and relief of poverty, hardship or distress within the United Kingdom and abroad to individuals in need and/or charities, or other organisations working to prevent or relieve poverty and need.

b) the advancement of education within the United Kingdom and abroad by assisting organisations supporting the work of education establishments or associated with them.

c) the advancement of such other objects as are for the benefit of the public and charitable according to English law.

Public benefit

The trustees referred to the guidance contained in the Charity Commission's general guidance on public benefit, when reviewing the aim and objectives and in planning the charity's future activities, and setting the grant making policy for the year.

Grantmaking

The trustees make grants to organisations and individuals in need in furtherance of the charity's Objects. All applications are considered and grants are made on the ability of the grant to make a meaningful difference to the applicant and on the funds available.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The trustees have established a fund to provide needy young couples and families with the essential household items they require, thereby enabling them to lead their lives with dignity and respect.

By providing food, clothing and other basic necessities as well as grants to those in need, the trustees seek to enable them with the means to improve their quality of life and their mental health and wellbeing, so that they can become functional and productive members of their communities and society as a whole.

The trustees anticipate an increase in requests in the coming year and are actively continuing to look for donors to fund these activities.

FINANCIAL REVIEW

Financial position

The financial results for the year are shown in the attached financial statements.

Total income was £144,022 and total expenditure was £94,334.

Total funds carried forward being £49,688.

Reserves policy

The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary donations and grants. The trustees consider that the ideal level of reserves as at 31 October 2022 would be three months of the expenditure which equates to approximately £24,000.

The actual reserves at 31 October 2022 were £49,688. The trustees review the funds regularly to address any shortfall in reserves and to ensure that there are sufficient reserves to provide financial stability and flexibility.

Page 1

LIVNOS BAYIS LIMITED (REGISTERED NUMBER: 13692016)

REPORT OF THE TRUSTEES for the period 20 October 2021 to 31 October 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Livnos Bayis Limited is a company limited by guarantee without share capital, incorporated on 20 October 2021 and registered as a charity on 26 January 2022.

The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

The trustees have no beneficial interest in the company as it is a company limited by guarantee and are chosen by agreement of trustees at an annual meeting.

New trustees are subject to trustee induction training which includes as understanding of the content of the Memorandum and Articles of Association, their legal obligations under Charity Act and Company Law, the organisational structure of charity and the recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events which enhance their knowledge and skill thereby improving the performance of their role.

Induction and training of new trustees

Any new trustee will be fully briefed on the history of the trust, and its objectives and plans, as well as the management and operational processes. Trustees can retire when they wish as they do not serve under a fixed term of tenure.

Risk management

The trustees have identified and reviewed the major risks to which the charity is exposed, in particular those related to the operations and finance of the charity, and are satisfied that systems are in place to manage those risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

13692016 (England and Wales)

Registered Charity number

1197673

Registered office

19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

Trustees

Mrs M Klagsbald Mr M Freund (appointed 15.11.21) Mr B Lov (appointed 15.11.21)

Independent Examiner

Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

Page 2

LIVNOS BAYIS LIMITED (REGISTERED NUMBER: 13692016)

REPORT OF THE TRUSTEES

for the period 20 October 2021 to 31 October 2022

COMMENCEMENT OF ACTIVITIES

The charity has operated informally since 2019. It was incorporated and registered with the Charities Commission on 20 October 2021.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board 20 March 2023 and signed on its behalf by:

Mrs M Klagsbald - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIVNOS BAYIS LIMITED

Independent examiner's report to the trustees of Livnos Bayis Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the period 20 October 2021 to 31 October 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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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.

Mr Yedidya Zaiden Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

20 March 2023

Page 4

LIVNOS BAYIS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES for the period 20 October 2021 to 31 October 2022

Unrestricted
fund
Notes £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 144,022
EXPENDITURE ON
Raising funds 3 8,761
Charitable activities
Charitable activities 73,051
Grants to institutions 2,489
Support costs 10,033
Total 94,334
NET INCOME 49,688
TOTAL FUNDS CARRIED FORWARD 49,688

The notes form part of these financial statements

Page 5

LIVNOS BAYIS LIMITED (REGISTERED NUMBER: 13692016)

BALANCE SHEET

31 October 2022

Unrestricted
fund
Notes £
CURRENT ASSETS
Cash at bank 51,488
CREDITORS
Amounts falling due within one year 8 (1,800)
NET CURRENT ASSETS 49,688
TOTAL ASSETS LESS CURRENT LIABILITIES 49,688
NET ASSETS 49,688
FUNDS 9
Unrestricted funds 49,688
TOTAL FUNDS 49,688

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

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 20 March 2023 and were signed on its behalf by:

Mrs M Klagsbald - Trustee

The notes form part of these financial statements

Page 6

LIVNOS BAYIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the period 20 October 2021 to 31 October 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

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.

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.

Charitable activities

The cost of charitable activities comprises those incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Taxation

The charity is exempt from corporation 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.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except for bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.

continued...

Page 7

LIVNOS BAYIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the period 20 October 2021 to 31 October 2022

2. DONATIONS AND LEGACIES

£ Donations 144,022 RAISING FUNDS Raising donations and legacies £ Fundraising 8,761 GRANTS PAYABLE £ Grants to institutions 2,489

RAISING FUNDS

3.

4. GRANTS PAYABLE

5.

SUPPORT COSTS

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|||||| |---|---|---|---|---| |Governance| |Management|Finance|costs|Totals| |£|£|£|£| |Support costs|4,000|30|6,003|10,033|

----- End of picture text -----

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 31 October 2022.

Trustees' expenses

There were no trustees' expenses paid for the period ended 31 October 2022.

7. INDEPENDENT EXAMINERS FEES

The Independent Examiners fees for the period were £1,800.

continued...

Page 8

LIVNOS BAYIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the period 20 October 2021 to 31 October 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£ 1,800

Accrued expenses

MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
144,022
144,022		 Net
movement
At
in funds
31.10.22
£
£
49,688
49,688
49,688
49,688
Resources
Movement
expended
in funds
£
£
(94,334)
49,688
(94,334)
49,688

9. MOVEMENT IN FUNDS

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the period ended 31 October 2022.

Page 9