**REGISTERED CHARITY NUMBER: 264365** ## **FRIENDS OF BEIS ELIYOHU TRUST** **REPORT OF THE TRUSTEES AND** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS **FRIENDS OF BEIS ELIYOHU TRUST** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** |||**Page**|| |---|---|---|---| |**Reference and Administrative Details**||1|| |**Report of the Trustees**|2|to|3| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Balance Sheet**||6|| |**Notes to the Financial Statements**|7|to|8| **FRIENDS OF BEIS ELIYOHU TRUST** ## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **TRUSTEES** **TRUSTEES** Mr M J Miller (resigned 8.9.23) Mr C Lopian Mr J Kraushar **PRINCIPAL ADDRESS** 37 Holmfield Avenue London NW4 2LP **REGISTERED CHARITY** 264365 **NUMBER INDEPENDENT EXAMINER** Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS **BANKERS** HSBC Bank plc 312 Seven Sisters Road Finsbury Park London N4 2AW Page 1 ## **FRIENDS OF BEIS ELIYOHU TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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). ## **Reference and administrative information** Reference and administrative information is shown on page 1 of the financial statements and forms part of this report. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objects of the charity are the furtherance of Orthodox Jewish education, particularly advanced religious studies and the relief of poverty. The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit. ## **ACHIEVEMENT AND PERFORMANCE** ## **Review of activities and achievement** The trustee are satisfied with the results of the year. Although there was an increase in both income and grantmaking there was a small deficit for the year. ## **FINANCIAL REVIEW** ## **Reserves policy** The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £1,431deficit (2022 - £1,584 deficit). ## **Risk review** The trustees have confirmed that there are no major risk to which the charity is exposed. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Constitution** The charity was established by Deed of Trust dated 14 June 1972. ## **Organisational structure** The power to appoint new trustees is vested in the board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures. ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. Page 2 ## **FRIENDS OF BEIS ELIYOHU TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued** The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the board of trustees on 30 October 2024 and signed on its behalf by: Mr J Kraushar - Trustee Page 3 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF BEIS ELIYOHU TRUST** ## **Independent examiner's report to the trustees of Friends of Beis Eliyohu Trust** I report to the charity trustees on my examination of the accounts of Friends of Beis Eliyohu Trust (the Trust) for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. E Meyer FCA BSc Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS 30 October 2024 Page 4 ## **FRIENDS OF BEIS ELIYOHU TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023** |**2023**
**Unrestricted**
**fund**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
27,319
**EXPENDITURE ON**
**Charitable activities**
2
Grantmaking
25,930
Support costs
1,236
**Total**
27,166
**NET INCOME/(EXPENDITURE)**
153
**RECONCILIATION OF FUNDS**
Total funds brought forward
(1,584)
**TOTAL FUNDS CARRIED FORWARD**
(1,431)|**2022**
**Total**
**funds**
**£**
16,420
18,100
1,030
19,130
(2,710)
1,126
(1,584)| |---|---| The notes form part of these financial statements Page 5 ## **FRIENDS OF BEIS ELIYOHU TRUST** ## **BALANCE SHEET 31 DECEMBER 2023** |**Notes**
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
6
**NET CURRENT ASSETS/(LIABILITIES)**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS/(LIABILITIES)**
**FUNDS**
Unrestricted funds
**TOTAL FUNDS**|**2023**
**2022**
**Total**
**Total**
**funds**
**funds**
**£**
**£**
9
96
(1,440)
(1,680)
(1,431)
(1,584)
(1,431)
(1,584)
(1,431)
(1,584)
(1,431)
(1,584)
(1,431)
(1,584)| |---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 30 October 2024 and were signed on its behalf by: Mr J Kraushar - Trustee The notes form part of these financial statements Page 6 **FRIENDS OF BEIS ELIYOHU TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Income** Donations are included in full in the Statement of Financial Activities when received. ## **Expenditure** Expenditure is recognised in the year in which it is incurred and includes irrecoverable VAT. Support costs are those costs incurred to assist the work of the charity but are not directly charitable activities. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **2. CHARITABLE ACTIVITIES COSTS** |**Grant**
**funding of**
**activities**
**Support**
**(see note**
**costs (see**
**3)**
**note 4)**
**£**
**£**
Grantmaking
25,930
-
Support costs
-
1,236
25,930
1,236
**GRANTS PAYABLE**
**2023**
**£**
Grantmaking
25,930
The total grants paid to institutions during the year was as follows:
**2023**
**£**
Yeshivas Beis Eliyohu (education)
25,930|**Totals**
**£**
25,930
1,236| |---|---| ||27,166| ||**2022**
**£**
18,100| ||**2022**
**£**
18,100| ## **3. GRANTS PAYABLE** Page 7 ## **FRIENDS OF BEIS ELIYOHU TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **4. SUPPORT COSTS** |**SUPPORT COSTS**|||| |---|---|---|---| |||**Governance**|| ||**Finance**|**costs**|**Totals**| ||**£**|**£**|**£**| |Support costs|282|954|1,236| |Support costs, included in the above, are as follows:|||| |||**2023**|**2022**| |||**Support**|**Total**| |||**costs**|**activities**| |||**£**|**£**| |Bank charges||282|190| |Independent examiner's fee||300|-| |Independent examiner's other fees||300|-| |General expenses||354|-| |Accountancy fees||-|840| |||1,236|1,030| ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. ## **6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** ||**2023**|**2022**| |---|---|---| ||**£**|**£**| |Accruals and deferred income|1,440|1,680| ## **7. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2023. Page 8