Charity number: 291526
BRITISH FRIENDS OF NISHMAS YISROEL
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
BRITISH FRIENDS OF NISHMAS YISROEL
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
BRITISH FRIENDS OF NISHMAS YISROEL
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022
| Trustees | M D Elzas, Trustee |
|---|---|
| S I Geller, Trustee | |
| D Mendelsohn, Trustee (appointed 4 November 2018) |
Charity registered number 291526 Principal office c/o 24 Green Lane London NW4 2NG Bankers Barclays Bank plc 883/885 Finchley Road London NW11 8RU
Page 1
BRITISH FRIENDS OF NISHMAS YISROEL
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report together with the financial statements of the British Friends of Nishmas Yisroel for the 1 January 2022 to 31 December 2022.
Objectives and activities
Policies and objectives
The trust was formed by a deed on 22 February 1985 in order to advance the Jewish Religion including the advancement of Jewish education, by providing support financially and otherwise to the Nishmas Yisroel educational institutions and welfare activities in Israel.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
Review of activities
The trustees are pleased with the financial results for the year as shown on the financial statements. Charitable grants of £41,500 (2021 - £49,000) were made during the year. This assisted the recipient charity.
Financial review
Structure, governance and management
Constitution
British Friends of Nishmas Yisroel is a registered charity, number 291526, and is constituted under a Trust deed.
Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
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BRITISH FRIENDS OF NISHMAS YISROEL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report 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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and 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 members of the board of Trustees on 14 August 2023 and signed on their behalf by:
................................................
M D Elzas
Trustee
Page 3
BRITISH FRIENDS OF NISHMAS YISROEL
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
Independent Examiner's Report to the Trustees of British Friends of Nishmas Yisroel ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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.
Signed: Dated: 14 August 2023
Daniel Wolffe FCCA
Wolffe Accountancy Services Ltd 34 Braydon Road London N16 6QB
Page 4
BRITISH FRIENDS OF NISHMAS YISROEL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Income from: Donations and legacies 3 Total income Expenditure on: Raising funds Charitable activities Administration expenses 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 51,459 51,459 - 41,500 283 41,783 9,676 602 9,676 10,278 |
Total funds 2022 £ 51,459 51,459 - 41,500 283 41,783 9,676 602 9,676 10,278 |
Total funds 2021 £ 43,540 43,540 16 49,000 50 49,066 (5,526) 6,128 (5,526) 602 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 7 to 11 form part of these financial statements.
Page 5
BRITISH FRIENDS OF NISHMAS YISROEL
BALANCE SHEET AS AT 31 DECEMBER 2022
| Note Fixed assets Tangible assets 6 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
10,945 10,945 (683) |
2022 £ 16 16 10,262 10,278 10,278 10,278 - 10,278 10,278 |
1,261 1,261 (681) |
2021 £ 22 |
|---|---|---|---|---|
| 22 580 |
||||
| 602 | ||||
| 602 | ||||
| 602 | ||||
| - 602 |
||||
| 602 |
The financial statements were approved and authorised for issue by the Trustees on 14 August 2023 and signed on their behalf by:
M D Elzas Trustee
The notes on pages 7 to 11 form part of these financial statements.
Page 6
BRITISH FRIENDS OF NISHMAS YISROEL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. General information
The trust was formed by a deed on 22 February 1985 to advance education in the Orthodox Jewish Religion and welfare activities in Israel.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
British Friends of Nishmas Yisroel meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.3 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 allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Page 7
BRITISH FRIENDS OF NISHMAS YISROEL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
2. Accounting policies (continued)
2.4 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
Office equipment - 25%
2.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
3. Income from donations and legacies
| Unrestricted funds 2022 £ Donations 51,459 Unrestricted funds 2021 £ Donations 43,540 |
Total funds 2022 £ 51,459 |
|---|---|
| Total funds 2021 £ 43,540 |
Page 8
BRITISH FRIENDS OF NISHMAS YISROEL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
4. Analysis of grants
| Machon Hagaon Rabbi Eliyahu Machon Hagaon Rabbi Eliyahu |
Grants to Institutions 2022 £ 41,500 Grants to Institutions 2021 £ 49,000 |
Total funds 2022 £ 41,500 |
|---|---|---|
| Total funds 2021 £ 49,000 |
5. Administration expenses
| Unrestricted funds 2022 £ Bank charges 25 Accountancy fees 150 Independant examiner fee 100 Sundry expenses 2 Depreciation 6 283 Unrestricted funds 2021 £ Bank charges 50 |
Total funds 2022 £ 25 150 100 2 6 |
|---|---|
| 283 | |
| Total funds 2021 £ 50 |
Page 9
BRITISH FRIENDS OF NISHMAS YISROEL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 6. Tangible fixed assets Cost or valuation At 1 January 2022 At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 7. Creditors: Amounts falling due within one year Accruals 8. Summary of funds Summary of funds - current year Balance at 1 January 2022 £ Income £ General funds 602 51,459 |
2022 £ 683 Expenditure £ (41,783) |
Office equipment £ 416 |
|---|---|---|
| 416 | ||
| 394 6 |
||
| 400 | ||
| 16 | ||
| 22 | ||
| 2021 £ 681 Balance at 31 December 2022 £ 10,278 |
Page 10
BRITISH FRIENDS OF NISHMAS YISROEL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
8. Summary of funds (continued)
Summary of funds - prior year
| Balance at | ||||
|---|---|---|---|---|
| Balance at | 31 | |||
| 1 January | December | |||
| 2021 | Income | Expenditure | 2021 | |
| £ | £ | £ | £ | |
| General funds | 6,128 | 43,540 | (49,066) | 602 |
9. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Tangible fixed assets 17 Current assets 10,944 Creditors due within one year (683) Total 10,278 |
Total funds 2022 £ 17 10,944 (683) |
|---|---|
| 10,278 |
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 22 1,261 (681) 602 |
Total funds 2021 £ 22 1,261 (681) |
|---|---|---|
| 602 |
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