(Charity registration no. 1201360)
YEDIDOS UK
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
YEDIDOS UK
LEGAL AND ADMINISTRATIVE INFORMATION
ANNUAL ACCOUNTS 2023
TRUSTEES:
Jessica Zwiebel- Chair Malka Neustadt Brocha Beila Lipschutz
ADMINISTRATION ADDRESS:
Flat 47 Carlton Mansions Holmleigh Road London N16 5PX
CHARITY NO:
1201360
YEDIDOS UK CONTENTS
| Trustees' report | 1 |
|---|---|
| Statement of financial activities | 2 |
| Balance sheet | 3 |
| Notes to the financial statements | 4 to 7 |
YEDIDOS UK TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2023
The trustees present their annual report and financial statements for the year ended 31 October 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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:
To advance in life and relieve the needs of young people separated from parents and/or other family members through divorce and family breakdown, through:
a. The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life;
b. Providing support, practical advice and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
Public Benefit:
The Trustees have taken due heed of their obligations relating to Public Benefit Duty affecting charities, as well as to their obligations under the Equalities Act 2010. The Trustees are satisfied that they meet their obligations.
Achievements and performance
The charity is dependent on income from voluntary donations and grants. Total incoming resources during the year were £0. Charitable expenditure amounted to £0.
Financial Review
Reserves policy
The charity's policy is to maintain reserves equivalent to at least 3 months of core running costs. This level of reserves is intended to provide financial stability, ensuring that the charity can continue its essential operations in the event of unexpected funding shortfalls or unforeseen expenses. This level of reserves will be maintained once the charity commences its charitable activities. The Reserves Policy is reviewed annually to ensure it remains appropriate for the
Structure, governance and management
The charity is a Charitable Incorporated Organisation and is controlled by it's governing document. It was registered as a charity on 16th December 2022.
The trustees who served during the year and up to the date of signature of the financial statements were: Jessica Zwiebel- Chair Malka Neustadt Brocha Beila Lipschutz
The day to day affairs of the Charity are administered by the Board of Trustees. It is not currently the intention of the Trustees of the Charity to appoint new trustees. Should the situation change in the future, the Trustees will apply suitable recruitment and training procedures. None of the trustees has any beneficial interest in the charity.
The trustee report was approved by the trustees and is signed on its behalf by: Jessica Zwiebel- Chair 1st November 2024
YEDIDOS UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 3 OCTOBER 2023
| 2023 | 2023 | 2023 | |||
|---|---|---|---|---|---|
| Notes: | Unrestricted | Restricted | Total | ||
| £ | £ | £ | |||
| Income and endowments from | |||||
| Donations and legacies | 0 | 0 | 0 | ||
| Expenditure on charitable activities | |||||
| Charitable activities | 0 | 0 | 0 | ||
| Support costs | |||||
| Total | 0 | 0 | 0 | ||
| Net Income / (Expenditure) | 0 | 0 | 0 | ||
| Reconciliation of funds | |||||
| Total funds bought forward | 0 | 0 | 0 | ||
| Total funds carried forward | 0 | 0 | 0 |
YEDIDOS UK
STATEMENT OF FINANCIAL POSITION AS AT 31 OCTOBER 2023
| Notes 2023 Current Assets UNRESTRICTED £ Cash at bank 0 Current Liabilites Accruals 0 Net Current Assets 0 Net Assets 0 Fund Analysis: Restricted funds Unrestricted funds Total funds |
2023 RESTRICTED £ 0 0 0 0 |
2023 TOTAL £ 0 0 |
|---|---|---|
| 0 | ||
| 0 | ||
| 0 0 |
||
| 0 |
The financial statements were approved by the trustees on 1st November 2024
Jessica Zwiebel- Chair
YEDIDOS UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
1 Accounting policies
Charity information
The charity is a Charitable Incorporated Organisation.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity will build adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
YEDIDOS UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR YEAR ENDED 31 OCTOBER 2023
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
YEDIDOS UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR YEAR ENDED 31 OCTOBER 2023.
1.8 Basic financial liabilities
- Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire, are discharged or are cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows.
3 Incoming resources
Incoming resources were nil for this period.
4 Charitable expenditure
Charitable expenditure was nil for the period.
5 Trustees
None of the trustees (or persons connected with them) received any remuneration or benefits during the year.
6 Employees
The average number of employees was nil.
7 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
8 Related party transactions
There were no disclosable related party transactions during the year.
9 Disclosures
There are no other disclosures to report.