REGISTERED CHARITY NUMBER: 290191
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 April 2024
for
Agudas Israel Organisation of Great Britain
Martin+Heller 5 North End Road London NW11 7RJ
Agudas Israel Organisation of Great Britain
Contents of the Financial Statements for the Year Ended 5 April 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
Agudas Israel Organisation of Great Britain
Report of the Trustees for the Year Ended 5 April 2024
The trustees present their report with the financial statements of the charity for the year ended 5 April 2024. 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
Makes grants to indiviuals and to the organisations, to advance Jewish religious education and to relieve poverty, distress and sickness amongst Jews in any part of the world.
Public benefit
The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity's aims and objectives and in planning future activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes as unincorporated charity.
Risk management
The charity is committed to a policy of identifying, monitoring and managing those risks that might adversely affect the activities in which it is involved. In this context, risk is defined as the potential for loss, both financial and reputational, inherent in the environment in which the charity operates and in the nature of the transactions undertaken.
The Trustees believe that an appropriate review of risks is necessary, risks are ranked and periodically reviewed, and appropriate action is identified to adequately manage the consequences of the risks.
The Trustees have overall responsibility for the charity's systems of internal control that are designed by senior management in order to ensure effective and efficient operations, including financial reporting, and compliance with laws and regulations. In establishing and reviewing systems of internal control, the Trustees and senior management have regard to the materiality of relevant risks, the likelihood of loss being incurred and the cost of control.
The Trustees believe that the principal risk identified is from external sources when a change in Gift Aid regulations could affect business. Measures to reduce the risk and assess matters regularly have been taken.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
290191
Principal address
97-99 Stamford Hill London N16 5DN
Trustees
Rabbi J M Rosenbaum H Bondi R Grussgott
Independent Examiner
Martin+Heller 5 North End Road London NW11 7RJ
Page 1
Agudas Israel Organisation of Great Britain
Report of the Trustees for the Year Ended 5 April 2024
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ H Bondi - Trustee
Page 2
Independent Examiner's Report to the Trustees of Agudas Israel Organisation of Great Britain
Independent examiner's report to the trustees of Agudas Israel Organisation of Great Britain
I report to the charity trustees on my examination of the accounts of Agudas Israel Organisation of Great Britain (the Trust) for the year ended 5 April 2024.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the ERROR - relevant professional body must be completed, which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
A Heller FCA
Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
Agudas Israel Organisation of Great Britain
Statement of Financial Activities for the Year Ended 5 April 2024
| 5.4.24 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 258,117 Investment income 2 91,086 Total 349,203 EXPENDITURE ON Charitable activities Donations made 4,000 Direct charitable activities 223,673 Management costs 146,465 Other 7,260 Total 381,398 NET INCOME/(EXPENDITURE) (32,195) RECONCILIATION OF FUNDS Total funds brought forward 2,579,393 TOTAL FUNDS CARRIED FORWARD 2,547,198 |
5.4.23 Total funds £ 2,475 103,007 |
|---|---|
| 105,482 | |
| 18,500 2,012 37,609 7,974 |
|
| 66,095 | |
| 39,387 2,540,006 |
|
| 2,579,393 |
The notes form part of these financial statements
Page 4
Agudas Israel Organisation of Great Britain
Balance Sheet 5 April 2024
| 5.4.24 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 3,626,165 CURRENT ASSETS Debtors 7 20,000 Cash at bank 58,168 78,168 CREDITORS Amounts falling due within one year 8 (57,135) NET CURRENT ASSETS 21,033 TOTAL ASSETS LESS CURRENT LIABILITIES 3,647,198 CREDITORS Amounts falling due after more than one year 9 (1,100,000 ) NET ASSETS 2,547,198 FUNDS 11 Unrestricted funds 2,547,198 TOTAL FUNDS 2,547,198 |
5.4.23 Total funds £ 3,626,165 20,000 10,177 30,177 (1,076,949 ) (1,046,772 ) 2,579,393 - 2,579,393 2,579,393 2,579,393 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
H Bondi - Trustee
The notes form part of these financial statements
Page 5
Agudas Israel Organisation of Great Britain
Notes to the Financial Statements for the Year Ended 5 April 2024
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
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from 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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Page 6
continued...
Agudas Israel Organisation of Great Britain
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
2. INVESTMENT INCOME
| 5.4.24 | 5.4.23 | |
|---|---|---|
| £ | £ | |
| Rents received | 91,086 | 103,007 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Secretarial staff No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Charitable activities Donations made Direct charitable activities Management costs Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward |
5.4.24 5.4.23 2 2 Unrestricted fund £ 2,475 103,007 105,482 18,500 2,012 37,609 7,974 66,095 39,387 2,540,006 |
5.4.24 5.4.23 2 2 Unrestricted fund £ 2,475 103,007 105,482 18,500 2,012 37,609 7,974 66,095 39,387 2,540,006 |
|---|---|---|
| 105,482 | ||
| 18,500 2,012 37,609 7,974 |
||
| 66,095 | ||
| 39,387 2,540,006 |
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
Page 7
Agudas Israel Organisation of Great Britain
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| TOTAL FUNDS CARRIED FORWARD 6. TANGIBLE FIXED ASSETS Fixtures Freehold and property fittings £ £ COST At 6 April 2023 and 5 April 2024 3,605,518 15,127 NET BOOK VALUE At 5 April 2024 3,605,518 15,127 At 5 April 2023 3,605,518 15,127 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 10) Taxation and social security Other creditors |
Computer equipment £ 5,520 5,520 5,520 5.4.24 £ 20,000 5.4.24 £ 50,000 2,935 4,200 57,135 |
Unrestricted fund £ 2,579,393 Totals £ 3,626,165 3,626,165 3,626,165 5.4.23 £ 20,000 5.4.23 £ 50,000 2,947 1,024,002 1,076,949 |
Unrestricted fund £ 2,579,393 Totals £ 3,626,165 3,626,165 3,626,165 5.4.23 £ 20,000 5.4.23 £ 50,000 2,947 1,024,002 1,076,949 |
|---|---|---|---|
| 2,579,393 | |||
| Totals £ 3,626,165 3,626,165 3,626,165 5.4.23 £ 20,000 5.4.23 £ 50,000 2,947 1,024,002 1,076,949 |
|||
continued...
Page 8
Agudas Israel Organisation of Great Britain
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| Bank loans (see note 10) 10. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 11. 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 |
At 6/4/23 £ 2,579,393 2,579,393 Incoming resources £ 349,203 349,203 |
5.4.24 £ 1,100,000 5.4.24 £ 50,000 1,100,000 Net movement in funds £ (32,195) (32,195) Resources expended £ (381,398) (381,398) |
5.4.23 £ - 5.4.23 £ 50,000 - At 5/4/24 £ 2,547,198 2,547,198 Movement in funds £ (32,195) (32,195) |
|---|---|---|---|
continued...
Page 9
Agudas Israel Organisation of Great Britain
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 6/4/22 £ Unrestricted funds General fund 2,540,006 TOTAL FUNDS 2,540,006 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 105,482 TOTAL FUNDS 105,482 |
Net movement in funds £ 39,387 39,387 Resources expended £ (66,095) (66,095) |
At 5/4/23 £ 2,579,393 |
At 5/4/23 £ 2,579,393 |
|---|---|---|---|
| 2,579,393 | |||
| Movement in funds £ 39,387 39,387 |
|||
| 39,387 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 6/4/22 £ 2,540,006 2,540,006 |
Net movement in funds £ 7,192 7,192 |
At 5/4/24 £ 2,547,198 |
|---|---|---|---|
| 2,547,198 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 454,685 | (447,493) | 7,192 |
| TOTAL FUNDS | 454,685 | (447,493) | 7,192 |
continued...
Page 10
Agudas Israel Organisation of Great Britain
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2024.
Page 11
Agudas Israel Organisation of Great Britain
Detailed Statement of Financial Activities for the Year Ended 5 April 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations received Grants Investment income Rents received Total incoming resources EXPENDITURE Charitable activities Charitable activities Grants to institutions Support costs Management Wages Computer expenses Insurance Light and heat Postage and stationery Legal and professional fees Sundries Repairs & renewals Rent payable Consultancy fees Bank charges Bank loan interest Finance fees Governance costs Accountancy Total resources expended Net (expenditure)/income |
5.4.24 £ 231,117 27,000 258,117 91,086 349,203 223,673 4,000 227,673 6,060 1,012 8,023 18,061 224 792 677 5,236 694 53,529 282 21,518 36,417 152,525 1,200 381,398 (32,195) |
5.4.23 £ 2,475 - |
|---|---|---|
| 2,475 103,007 |
||
| 105,482 2,012 18,500 |
||
| 20,512 14,526 1,180 6,715 7,282 44 4,391 872 3,326 470 - 5,577 - - |
||
| 44,383 1,200 |
||
| 66,095 | ||
| 39,387 |
This page does not form part of the statutory financial statements
Page 12