**Draft Financial Statements at 29 August 2025 at 21:41:00**
**Charity Registration No. 293477**
## **THE TEL AVIV FOUNDATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2024**
**Draft Financial Statements at 29 August 2025 at 21:41:00 THE TEL AVIV FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Amina Harris Neville Eisenberg Dov I Shamir Simon Ross (Chairman) **Charity number** 293477 **Principal address** 48 Priory Road London NW6 4SJ **Independent examiner** Mark Taylor HW Fisher Professional Services Limited Acre House 11-15 William Road London NW1 3ER United Kingdon **Bankers** Metro Bank One Southampton Row London WC1B 5HA
**Draft Financial Statements at 29 August 2025 at 21:41:00 THE TEL AVIV FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 11|
**Draft Financial Statements at 29 August 2025 at 21:41:00 THE TEL AVIV FOUNDATION**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
The trustees of the Tel Aviv Foundation (the Foundation) are pleased to present their report and financial statements for the year ended 31 December 2024.
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 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**
The Foundation was established under a Trust Deed dated 11 December 1985 to promote and assist educational, religious and relief projects in the city of Tel Aviv, Israel. Trustees are appointed by resolution of the trustees.
The Foundation co-operates closely with TAFI, a non-profit making organisation. TAFI has close links with the Office of the Mayor of Tel Aviv-Yafo and assists the Foundation by identifying suitable charitable projects. These projects are principally concerned with educational, medical and social objectives as well as projects which are drawn to the trustees’ attention. It also acts as agent of the Tel Aviv-Yafo Foundation, Israel, in ensuring that such charitable payments are applied to the projects which have been approved by the trustees and designated by donors.
The Municipality of Tel Aviv-Yafo, acting through TAFI identifies its needs in 4 main areas: Education, Arts and Culture, Social Services and Parks and Playgrounds. It is then at the discretion of the trustees to allocate funding to projects identified.
We have referred to the guidance in the Charity’s Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives they have set.
## **Achievements and performance**
The charity operates closely with TAFI in order to improve the quality of life in Tel Aviv-Yafo, with specific focus on the social, cultural, educational and environmental sectors. The grants that the Foundation has made out are highlighted in note 4 and described in note 11, showing the charities activities in the year in each of the described sectors.
There were no specific fundraising events in 2024. All donations received during the course of the year were administered in the usual manner using the services of the self-employed part time Director of Administration.
The Board of Trustees is entirely made up of volunteers and has established a close working relationship with TAFI. This has resulted in a steady flow of donations, and it is hoped that future fundraising by the Trustees will be able to assist in boosting the activities of the charity going forward.
Management fees of £nil (2023: £41,997) have been requested from the Israeli office of the Tel Aviv Foundation to cover the running of the UK office during the year.
## **Financial review**
The Foundation has received total income of £302,320 (2023: £317,610), the majority of which has arisen from donations. These donations were received from 3 Charitable foundations and 2 individuals. The charitable foundations that have donated are Paicolex Trust, Archie Sherman Charitable Trust, Raphael and Marika Levy Benevolent Fund. The individual donations have been received from Mr D Winter and AR&V Investments Limited.
Total resources expended for the Foundation were £563,422 (2023: £68,444), the majority of which was donations transferred to projects in Israel.
The charity made a deficit of £257,682 (2023: £245,307 surplus) in the year and accumulated reserves at the year-end were £21,807 (2023: £279,489).
The present level of funding is adequate to support the activities of the charity and the trustees consider the financial position of the charity to be satisfactory.
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**Draft Financial Statements at 29 August 2025 at 21:41:00 THE TEL AVIV FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **Reserves policy**
The trustees do not deem it necessary to maintain substantial reserves, as support is provided from Israel to contribute to the running costs of the Foundation and reserves are not required for any other purpose. It is noted however that as at 31 December 2024 accumulated reserves were £21,807 (2023: £279,489).
## **Investment policy**
The trustees have the power to invest in such assets as they see fit.
## **Key risks and uncertainties**
The charity faces risks due to support costs being funded entirely by TAFI and from income being entirely reliant on donations made; their ability to continue charitable activities would be severely hindered if either form of income were to stop. However, the Trustees are satisfied that these risks are adequately managed by the charity with the use of commercial insurances, a close relationship with TAFI and ability to closely monitor all outgoing expenses.
## **Plans for the future**
The Foundation will continue to assist and promote the establishment and refurbishment of schools, colleges and other institutions of learning, to assist and promote the establishment of clinics, family health centres and other institutions of a social and medical nature and to assist in the provision of grants and scholarships in the field of education and supporting the arts in the community.
## **Structure, governance and management**
The trustees who served during the year and up to the date of signature of the financial statements were: Amina Harris Neville Eisenberg Dov I Shamir Simon Ross (Chairman)
Trustees are appointed by resolution of the trustees.
Although there is no formal training for our trustees, the majority are drawn from the business world and advice is obtained from our professional advisors to ensure we are within our mandate.
The Charity is administered by the trustees who decide which projects are sponsored. All matters discussed by the board require a majority in order to be enacted. The trustees periodically visit Tel Aviv to monitor progress of the projects.
The Foundation and the organisation Tel Aviv-Yafo Foundation, Israel, (“TAFI”) co-operate closely where appropriate, but are legally and operationally independent of each other. From time to time, the Foundation receives management fees from TAFI which have not been earmarked for specific projects and have therefore been applied towards administrative and fund raising expenses.
On behalf of the board of trustees of the Tel Aviv-Yafo Foundation on ………………………. and signed on its behalf by:
..............................
## **Simon Ross (Chairman)**
Trustee
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**Draft Financial Statements at 29 August 2025 at 21:41:00 THE TEL AVIV FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE TEL AVIV FOUNDATION**
I report to the trustees on my examination of the financial statements of The Tel Aviv Foundation (the charity) for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
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:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
## **Mark Taylor FCA**
HW Fisher Professional Services Limited Chartered Accountants Acre House 11-15 William Road London NW1 3ER
Dated: .........................
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**Draft Financial Statements at 29 August 2025 at 21:41:00 THE TEL AVIV FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
|**Unrestricted**
**Restricted**
**Total**
Unrestricted
Restricted
**funds**
**funds**
funds
funds
**2024**
**2024**
**2024**
2023
2023
**Notes**
**£**
**£**
**£**
**£**
**£**
**Income from:**
Donations and legacies
-
302,320
302,320
(1,344)
318,954
**Expenditure on:**
Charitable activities
**3**
8,672
554,750
563,422
12,844
55,600
**Net (outgoing)/incoming**
**resources before transfers**
(8,672)
(252,430)
(261,102)
(14,188)
263,354
**Other recognised gains and losses**
Other gains or losses
**8**
3,420
-
3,420
(3,859)
-
**Net movement in funds**
(5,252)
(252,430)
(257,682)
(18,047)
263,354
Fund balances at 1 January
2024
16,135
263,354
279,489
34,182
-
**Fund balances at 31**
**December 2024**
10,883
10,924
21,807
16,135
263,354|Total
2023
**£**
317,610
68,444
249,166
(3,859)
245,307
34,182
279,489|
|---|---|
All income and expenditure derive from continuing activities.
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**Draft Financial Statements at 29 August 2025 at 21:41:00 THE TEL AVIV FOUNDATION**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2024**_
|**Notes**
**Current assets**
Debtors
**9**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**10**
Net current assets
**Income funds**
Restricted funds
**11**
Unrestricted funds|**2024**
**£**
1,200
33,900
35,100
(13,293)|**£**
21,807
10,924
10,883
21,807|**2023**
**£**
300
295,882
296,182
(16,693)|**£**
279,489|
|---|---|---|---|---|
|||||263,354
16,135|
|||||279,489|
The financial statements were approved by the Trustees on .........................
.............................. Simon Ross
**Chairman**
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**Draft Financial Statements at 29 August 2025 at 21:41:00 THE TEL AVIV FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
## **Charity information**
The Tel Aviv Foundation was established by a Charitable Trust deed on 11 December 1985. The registered office is 48 Priory Road, London, NW6 4SJ.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the 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)". 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 applying FRS 102 Update Bulletin 1 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. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
Trustees have taken actions in relation to managing the financial resources of the charity. At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has 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 funds which can be used in accordance with the charitable objectives at the discretion of the trustees.
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.
## **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.
## **1.5 Expenditure**
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expense. All expenses are accounted for on an accruals basis.
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand and deposits held at call with banks.
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**Draft Financial Statements at 29 August 2025 at 21:41:00 THE TEL AVIV FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
**(Continued)**
## **1.7 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **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. The trustees do not believe that there were any critical accounting estimates and judgements requiring disclosure in the year.
## **3 Charitable activities**
|Grant funding of activities (see note 4)
Share of support costs (see note 5)
Share of governance costs (see note 5)
**Analysis by fund**
Unrestricted funds
Restricted funds|**2024**
**£**
554,750
3,497
5,175
563,422
8,672
554,750
563,422|**2023**
**£**
55,600
4,726
8,118|
|---|---|---|
|||68,444|
|||12,844
55,600|
|||68,444|
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**Draft Financial Statements at 29 August 2025 at 21:41:00 THE TEL AVIV FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **4 Grants payable**
|Grants to institutions:
Adopt-a-Neighbourhood
Hand in Hand Charity
Mesila Refugee Project
Sourasky Hospital - General
Israel Emergency Fund
**5**
**Support costs**
**Support costs**
**Governance**
**costs**
**£**
**£**
Administrative expenses
2,923
-
Insurance
306
-
Bank charges
268
-
Accountancy
-
5,175
3,497
5,175
Analysed between
Charitable activities
3,497
5,175|**2024**
**£**
440,550
52,000
49,800
2,400
10,000
554,750
**2024**
Support costs
Governance
costs
**£**
£
£
2,923
4,245
-
306
296
-
268
185
-
5,175
-
8,118
8,672
4,726
8,118
8,672
4,726
8,118|2023
£
-
55,000
-
600
-|
|---|---|---|
|||55,600|
|||2023
£
4,245
296
185
8,118|
|||12,844|
|||12,844|
Governance costs include payments to the independent examiner for £5,175 (2023: £8,118).
## **6 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **7 Employees**
There were no employees during the current or prior year.
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**Draft Financial Statements at 29 August 2025 at 21:41:00 THE TEL AVIV FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **8 Other gains or losses**
|**8**|**Other gains or losses**|||
|---|---|---|---|
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**2024**|2023|
|||**£**|£|
||Foreign exchange gain|3,420|(3,859)|
|**9**|**Debtors**|||
|||**2024**|**2023**|
||**Amounts falling due within one year:**|**£**|**£**|
||Accrued income|1,200|300|
|**10**|**Creditors: amounts falling due within one year**|||
|||**2024**|**2023**|
|||**£**|**£**|
||Trade creditors|8,343|8,118|
||Other creditors|-|457|
||Accruals and deferred income|4,950|8,118|
|||13,293|16,693|
## **11 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
||**Movement in funds**|**Movement in funds**|||**Movement in funds**|**Movement in funds**||
|---|---|---|---|---|---|---|---|
||**Incoming**|**Resources**||**Balance at**|**Incoming**|**Resources**|**Balance at**|
||**resources**|**expended**||**1 January 2024**|**resources**|**expended**|**31 December**|
||||||||**2024**|
||**£**||**£**|**£**|**£**|**£**|**£**|
|Hand in Hand|55,500|(55,000)||500|52,000|(52,000)|500|
|Adopt-a-Neighbourhood|249,957||-|249,957|191,020|(440,550)|427|
|Mesila Refugee Project|-||-|-|49,800|(49,800)|-|
|The Sourasky Hospital|900||(600)|300|4,500|(2,400)|2,400|
|Israel Emergency Fund|10,000||-|10,000|-|(10,000)|-|
|The Tel Aviv House|2,597||-|2,597|5,000|-|7,597|
||318,954|(55,600)||263,354|302,320|(554,750)|10,924|
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**Draft Financial Statements at 29 August 2025 at 21:41:00 THE TEL AVIV FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **11 Restricted funds**
## **(Continued)**
## **Hand in Hand**
This is a facility to provide after school care for children from deprived and broken families.
## **Adopt-a-Neighbourhood**
This programme is considered a valuable instrument in elevating the quality of life of the residents of the underprivileged Shapira and Kiriyat Shalom neighbourhoods of Tel Aviv. The programme assists these neighbourhoods to receive unique solutions to municipal needs that include education, social welfare, health services and employment resources. By investing in people and local resources a significant re-gentrification of a neighbourhood can start to take place.
## **Mesila Refugee Project**
The Mesila organisation was founded to provide an appropriate and comprehensive response to the rights and needs of the tens of thousands of legal and illegal migrant workers and refugees living in and around Tel-Aviv. Mesila's main objective is to grant social, educational and medical assistance to the city's refugees and migrant workers. Mesila offers services such as assistance and information, case management involvement, community empowerment, system-wide work, welfare and mediating between the community and the establishment. As defined by the organisation, Mesila offers an "open door" to the distressed segments of the migrants and refugee community.
## **The Sourasky Hospital**
The Tel Aviv Sourasky Medical Centre is the premier multidisciplinary academic medical centre and serves the general Tel Aviv population of over 414,600 residents and over a million daily visitors that come in to the City for jobs, university and tourism. It is also the national referral centre for many major primary and speciality care services. During the year, an unspecified donation had been made to the hospital.
## **The Tel Aviv House**
This community center welcomes new immigrants, lone soldiers, Jewish tourists, and people from across the country. As a cultural and professional hub, the house hosts a diverse range of activities in multiple languages: Friday meals, Jewish holiday celebrations, lectures, performances, and cultural gatherings. It serves as a bridge between communities, facilitating connections with consulates and embassies while offering workshops, networking events, and collaborative opportunities from employment and housing to navigating bureaucratic challenges.This dynamic, multicultural space enables immigrants to feel at home while building new relationships and adapting to Tel Aviv life. It welcomes former Tel Aviv residents who have relocated elsewhere but maintain their connection to the city, as well as current residents and future Tel Avivians. All these activities are rooted in and celebrate Hebrew culture.
## **Israel Emergency Fund**
The Israel Emergency Fund is to help inhabitants during war.
## **Transfer**
The transfer between funds from restricted fund to unrestricted fund and expending the funds.
## **12 Analysis of net assets between funds**
|**Unrestricted**
**funds**
**Restricted**
**funds**
**2024**
**2024**
**£**
**£**
Fund balances at 31
December 2024 are
represented by:
Current assets/(liabilities)
10,883
10,924
10,883
10,924|**Total**
Unrestricted
funds
Restricted
funds
**2024**
2023
2023
**£**
£
£
21,807
16,135
263,354
21,807
16,135
263,354|Total
2023
£
279,489|
|---|---|---|
|||279,489|
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**Draft Financial Statements at 29 August 2025 at 21:41:00 THE TEL AVIV FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **13 Related party transactions**
There were no disclosable related party transactions during the year (2023 - none).
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