**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 - (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 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** **----- Start of picture text -----**
|||||| |---|---|---|---|---| |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