FRIENDS OF THE ISRAEL CANCER ASSOCIATION
TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
FRIENDS OF THE ISRAEL CANCER ASSOCIATION
INDEX TO THE REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
| Index | Pages | Pages | |
|---|---|---|---|
| Trustees' Annual Report | 1 | - | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Accounts | 7 | - | 9 |
FRIENDS OF THE ISRAEL CANCER ASSOCIATION
1
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024
The trustees present their report along with the financial statements for the year ended 5 April 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts 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)".
Reference and Administrative Information
Charity Number: 260710
Principal Office
c/o Payne Hicks Beach LLP, 10 New Square, Lincoln's Inn, London, WC2A 3QG.
Trustees
Vered Aaron - [Chair] Lesley Khalastchi Lady Homa Alliance Martin David Paisner
Marc Daniel Traube (resigned during the year)
Independent Examiner
Rachel Chim of UHY Hacker Young LLP, Quadrant House, 4 Thomas More Square, London E1W 1YW.
Bankers
CAF Bank Limited, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ.
Structure, Governance and Management
The trust is an unincorporated body, constituted under a trust deed dated 16 February 1970 and is a registered charity, number 260710. The trust was established by an initial gift from Charles Clore. Additional funds have been received by way of legacies and donations.
The trust deed provides that, so far as possible, the number of trustees shall at all times be kept up to four at least, but, if the number is less than four, the trustees for the time being shall nevertheless have full power to act for all purposes. New trustees are elected and approved to serve by the continuing trustees.
The trustees meet intermittently during the year to discuss the affairs of the charity.
The charity has no full time or part time employees to assist in the running of the charity, the daily administration being carried out by the trustees themselves.
Risk Management
The trustees have reviewed the major risks likely to impact on the work of the charity. Systems have been established to enable the trustees to review and take necessary steps to lessen these risks.
FRIENDS OF THE ISRAEL CANCER ASSOCIATION
2
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 (Continued)
Objectives and Activities
Pursuant to the terms of the governing trust deed, the trustees shall apply the income and all or such part or parts of the capital at such time or times and in such manner to or for the purpose of providing relief to those suffering with cancer in the UK or elsewhere and without prejudice to the generality of the forgoing to the institution known as The Israel Cancer Association.
Public Benefit
The trustees have complied with section 17(5) of the 2011 Charities Act, having due regard to the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives, when setting the grants making policy and in making awards.
Grant Making Policy
While the trustees are empowered to make grants for the relief of those suffering from cancer or any similar or related disease in the UK or elsewhere, support of the Israel Cancer Association takes priority in the making of grants.
Achievement and Performance
The trustees awarded total grants of £39,036 during the year (2023: nil).
Financial Review
Incoming resources of the charity for the year amounted to £40,290 (2023: £6,257). The charity is reliant on the income generated by public donations and legacies, and fundraising events.
Reserves Policy
The trustees' aim is to maintain free reserves in unrestricted funds at a level that will provide sufficient funds to respond to applications for grants and ensure that there are sufficient funds available to cover support and governance costs. The actual level of free reserves at 5 April 2024 was £43,050.
Plans for the Future
The trustees have no immediate plans to modify or change any of the objects, activities or policies described above.
FRIENDS OF THE ISRAEL CANCER ASS(KIATION TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 (Continlled) Statement of trL8tees' r¢snsibl11tj The trustees are responsible for preparing the Trusteeg Report and accounts in accordance with applicable law and United Kingdom Accounting Standar& (United Kingdom Generally Accepted Accounting Practice). The law applicable to charittes in England and Wales requires the trnstees to prepare accounts for each financial year which give a In* and fair view of the state of affairs of the charity of the incoming resources and the application of resources of the CTr1ty for that year. In preparing these a¢unts, the tNstees aR required to.. • select suitable accOulg policies and then apply tbeEn consistently, obsenTe the methods and principles in the applicable Charitie5 SOIIP. make judg¢ents arKI estimates that aTe re&8onable and pr slate whether applicable accounting standards have iK¢n follow¢4 5ubje¢t to any matsrial departure5 disclosed and explained in th¢ financial Statemen and prepare the accounts on the going concern basis unless it is iwpropriate to presume thatth? charity will continue in operation. The trustees are responsible ftir keeping proper accounting record5 that disclose with reasonable accurLcy at any lime the financial position of the charity and to enable them to ensure that the financial ststetnents comply Hith the Chuities A¢1 2011. th¢ Charities (Accounts and Reports) Re8ulatsons 2008 and the provision of the Irust deeAJ. They are also r&wnsible for safe8wding the assets of the charity and hence for taking reasonable st¢P5 for the prevention and detection of fraud oth¢r itt¢gularities. Approvedbythetrustee50ll....... .... ..4035.,2025 and signed on their behalf by: Vered Aaron Truste< Chair
?UHY t)Jadrart House 4Thoffla% Mtye5w•re LondDn Elw IYW FRI8NDS OF THE ISRAEL G4r4c A&SOCIATION INDEPENDENT EXAMif4ER'S REPORT TO THE TrusfEES OF FRIENDS OF THE ISRAEL CANCER ASSOCIATION FOR THE YEAR ENDED S APIUL 21)24 April 2024, which are get paRe5 5 10 9. This i5 made solely thc &$ a Try. in accord Mth sectirn 145 of th¢ awities Act 2011. My examination h25 b¢cn undcrtkn w that l rnighi to the charitys trw%te¢s mRttu5 1 am te4uire4J to Swe to in an ind¢pLdenl ¢xamin¢rf5 rcpxt and fw ]w To the fullest ¢XlQEt lIted by law, I do accept or a55ume rc5P)ttsibilily to ott%r the tru5tCC5 ¥ i, tr my ¢xOnlrHts for thk% for thE illi0A5 1 have forind. Rtsponsibilitiu bAqts •fnpTrrt A¥ the charity trlIe¢S of th¢ Trus( you &Te tewsibk fir tt of th¢ with the requitry¢nts of thc Charitits Ad 2011 Acv). I rew1 fft rE5cl of my cxaminati¢m of the Trusk¢s' acwjnts c4tTttyJ undcr scrtion 145 of the 2011 A(t and in ¢arryin£ (xrt my ewi111) I have followyd 411 th¢ applrcablc Dsrccti¢XL% Eiven by the awity ctsnrni55i der secti 145(5Xb) ofthE 201 l ACL Indewdeut ¢xaJiiiiier'$ 5tt•mtht I httv¢ wmplctcd my cxatllirtloN. I that material moU¢r5 bAvt come my att¢tlli(n ID cuu%ctirm wtth the exaDunatioD giviTrg me cause to lieve thJ¢ matcrial re4Xt: 111 accountingreccrth tkx ko inre5pcd of the Tnwas Trquird by sth 130 of Acl or 12) th¢ do n(rt td7¥ith Yed4' ( (31 the acGount5 do ¢omply with the a1]Cable requiet$t{KeTnll the r(m atsl ¢tent of 5Ctout in thc Charities (A¢c(wJnts and Kcports) Re8uliott% 2(W ithr than any rcquireroen( thNtthc axounts we a Inte 8nd faie vi¢w which is ncl a mattttcthL%iderrd as Fmrtof an ir&¢Xn1nRtio I have no con¢ems hav¢ CLThe acrnss no ¢xh¢r allerS in connectiots withthE [tUnItiOn lo wbidx attrtbti 5tLould be Rachel Chim UHY Hacker Youn8 Lt Quadrant HoLL*e 4 Tho%n¥ MO SquwE London Elw IYW 21 io3Ja
FRIENDS OF THE ISRAEL CANCER ASSOCIATION
5
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024
----- Start of picture text -----
2024 2023
Unrestricted Unrestricted
funds funds
Note £ £
Income and endowments from:
Donations and legacies 3 40,173 250
Other trading activities 3 - 5,940
Investments 3 117 67
Total incoming resources 40,290 6,257
Expenditure on:
Charitable activities 4 (42,037) (1,912)
-
Raising funds (fundraising events) (2,364)
Total resources expended (42,037) (4,276)
Net movement in funds (1,747) 1,981
Reconciliation of funds
Total funds brought forward 44,797 42,816
Total funds carried forward £ 43,050 £ 44,797
----- End of picture text -----
FIUENDS OF ISRAEL CAF4CER ASSOCIATiof4 HAIANCE SHEET AS AT 5 APRIL 2024 2024 Total 2023 Total Nots Current asset5 Cash at bank 47,718 48,385 Total assets 47,718 48,385 L4abRliti¢s Creditors falling due within one year {4,668) (3,588) Total net assets £43.050 £44.797 The funds of the Charity Unrestricted funds (page 5) 43.050 44.797 £43,050 £44,797 The financial statements on pages 5 to 9 were approved by the TTr on .. and are signed on fheir behalf by: 2025. Vered Aaron Trustee. Chair
FRIENDS OF THE ISRAEL CANCER ASSOCIATION
7
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
1 Accounting policies
a) Basis of preparation
- The accounts have been prepared in accordance with the charity's trust deed, 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)". The charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
b) Funds structure
All funds are unrestricted and can be applied at the discretion of the trustees generally in the furtherance of the objects of the charity.
c) Income recognition
Savings interest receivable on cash deposits is recognised in these accounts on a receipts basis.
Other income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
d) Expenditure recognition
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the trust. The grants are accounted for where either the trustees have agreed to pay the grant without condition and the recipient has a reasonable expectation that they will receive a grant, or any condition attaching to the grant is outside the control of the trust.
e) Irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
f) Charitable activities
The expenditure on charitable activities includes grants made and governance costs.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These include costs related to statutory audit/independent examination.
FRIENDS OF THE ISRAEL CANCER ASSOCIATION
8
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024 (Continued)
2 Related party transactions and trustees' remuneration
None of the trustees (or any parties related to them) received remuneration or benefit from the charity either directly or indirectly during the year.
None of the trustees were reimbursed for expenses during the year.
| 3 Income and endowments from Donations and legacies: Public donations Investments: Bank Interest Other trading activities: Fundraising events 4 Governance costs (see note 6) Grants awarded (see note 5) 5 Charitable activities 6 Governance costs Accountancy Independent Examination Bank charges Advertising and publicity During the year the trustees awarded two grants totalling £39,036 to Expenditure on charitable activities |
2024 2023 £ £ 40,173 250 117 67 - 5,940 40,290 £ 6,257 £ 2024 2023 £ £ 3,001 1,912 39,036 - 42,037 £ 1,912 £ 2024 2023 £ £ 1,794 1,794 1,080 - 127 73 - 45 3,001 £ 1,912 £ the Israel Cancer Association. |
|---|---|
7 Staff costs
No staff were employed by the charity during the year, the daily administration of the charity being carried out by the trustees.
FRIENDS OF THE ISRAEL CANCER ASSOCIATION
9
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (Continued)
----- Start of picture text -----
8 Analysis of current assets 2024 2023
£ £
Cash at bank
CAF Bank Ltd. 47,718 48,385
£ 47,718 £ 48,385
9 Analysis of liabilities 2024 2023
Creditors falling due within one year £ £
Accountancy fees 3,588 3,588
-
Independent Examination fees 1,080
£ 4,668 £ 3,588
----- End of picture text -----