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2024-06-30-accounts

Charity registration number 294801 (England and Wales)

FRIENDS OF YAD SARAH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FRIENDS OF YAD SARAH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr A M Caplin (Chairman)
Mr S D Kibel FCA
Mr S D Pearlman
Mr Alistair Marks
Charity number 294801
Principal address Harcourt House
341 Regents Park Road
London
N3 1DP
Independent examiner David Passey ACA
325-327 Oldfield Lane North
Greenford
Middlesex
UB6 0FX

FRIENDS OF YAD SARAH

CONTENTS

Page
Trustees report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Statement of cash flows 6
Notes to the financial statements 7 - 11

FRIENDS OF YAD SARAH

TRUSTEES REPORT

FOR THE YEAR ENDED 30 JUNE 2024

The trustees present their annual report and financial statements for the year ended 30 June 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 charity's Trust Deed dated 6 November 1985, 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 Charity was established to raise funds for Yad Sarah, a charitable organisation in Israel, which lends medical and rehabilitative equipment free of charge to needy persons, as well as providing a variety of homeware support services.

The charity has paid due regard to guidance issued by the Charity Commission in deciding what activities it should undertake.

Public benefit

The Trustees have paid due regard to the public benefit guidance issued by the Charity Comission in deciding the allocation of funds.

Achievements and performance

The Charity received donations totalling £599,347 (2023 - £608,158) during the period and made grants to Yad Sarah in Israel aggregating £428,406 (2023 - £440,141).

Funds raised (totalling £97,836) in respect of the charity's principal funding campaign, carried out in September/ October 2023, were matched by a specific donor.

During the year, the charity started a new campaign ("Outreach") for the organisation of small gatherings of potential donors.

Financial review

The financial results of the charity's activities for the year are fully reflected in the attached financial statements together with the notes therein.

Risk Management

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Reserves Policy

Funds are remitted to Yad Sarah on a regular basis and as soon as practicable.

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to support the current level of expenditure and to continue in operational existence for the foreseeable future.

Plans for future periods

The Trustees are working to enhance public knowledge of the charity and to increase fund raising. In addition to the regular general mail appeals, specific targeted appeals have been made.

FRIENDS OF YAD SARAH

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Structure, governance and management

The Charity is governed by a Deed dated 6th November 1985.

The Trustees administer the day-to-day affairs of the charity. None of the Trustees has any beneficial interest in the charity.

The current Trustees are continually looking to add to and strengthen the Trustee base and in this event, the Trustees will apply suitable recruitment training and induction procedures.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr A M Caplin (Chairman)

Mr S D Kibel FCA Mr S D Pearlman Mr Alistair Marks

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 trustees report was approved by the Board of Trustees.

Mr S D Kibel FCA

Trustee

15 April 2025

FRIENDS OF YAD SARAH

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF YAD SARAH

I report to the trustees on my examination of the financial statements of Friends of Yad Sarah (the charity) for the year ended 30 June 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.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements 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 now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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:

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.

David Passey ACA

325-327 Oldfield Lane North Greenford Middlesex UB6 0FX

Dated: 15 April 2025

FRIENDS OF YAD SARAH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Donations and legacies 3 599,347 608,158
Total income 599,347 608,158
Expenditure on:
Raising funds 4 179,511 141,294
Charitable activities 5 432,496 445,096
Total expenditure 612,007 586,390
Net income/(expenditure) and movement in funds (12,660) 21,768
Reconciliation of funds:
Fund balances at 1 July 2023 43,806 22,038
Fund balances at 30 June 2024 31,146 43,806

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

FRIENDS OF YAD SARAH

BALANCE SHEET

AS AT 30 JUNE 2024

Notes
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
The funds of the charity
Unrestricted funds
13		 2024
£
7,330
25,303
32,633
(1,487)		 £
31,146
31,146
31,146		 2023
£
311
44,809
45,120
(1,314)		 £
43,806
43,806
43,806

The financial statements were approved by the trustees on 15 April 2025

Mr S D Kibel FCA Trustee

FRIENDS OF YAD SARAH

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
Notes
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
14
(19,506)
Net cash generated from investing activities
-
Net cash generated from financing activities
-
Net (decrease)/increase in cash and cash
equivalents
(19,506)
Cash and cash equivalents at beginning of year
44,809
Cash and cash equivalents at end of year
25,303		 £
11,172
-
-
11,172
33,637
44,809

FRIENDS OF YAD SARAH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

Charity information

Friends of Yad Sarah is a registered charity in England and Wales and is unincorporated. The address of the principal office is Harcourt House, 341 Regents Park Road, London, N3 1DP.

1.1 Accounting convention

The financial statements have been prepared in accordance 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

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.

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.

1.2 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the charity's charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors or grantors 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.

1.3 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.

1.4 Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.

Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries.

FRIENDS OF YAD SARAH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

1.5 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and legacies 599,347 608,158

FRIENDS OF YAD SARAH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

4 Raising funds

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity 179,511 141,294
5 Charitable activities
2024 2023
£ £
Distributions to Yad Sarah, Israel 428,406 440,141
Share of support costs (see note 6) 2,502 3,611
Share of governance costs (see note 6) 1,588 1,344
432,496 445,096
6 Support costs
Support costs Governance costs 2024 2023
£ £ £ £
Bank charges 634 - 634 1,340
Insurance 466 - 466 435
Printing, postage and
stationery 761 - 761 666
Travel 200 - 200 1,150
Sundry expenses 440 - 440 20
Independent examination - 1,589 1,589 1,344
2,501 1,589 4,090 4,955
Analysed between
Charitable activities 2,501 1,589 4,090 4,955
7 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 1,589 1,344

FRIENDS OF YAD SARAH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Total - -

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Debtors

Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
12
Creditors: amounts falling due within one year
Accruals and deferred income		 2024
£
1
7,329
7,330
2024
£
1,487		 2023
£
-
311
311
2023
£
1,314

13 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 July 2023 Incoming Resources At 30 June
resources expended 2024
£ £ £ £
General funds 43,806 599,347 (612,007) 31,146

FRIENDS OF YAD SARAH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

13 Unrestricted funds (Continued)
Previous year: At 1 July 2022 Incoming Resources At 30 June
resources expended 2023
£ £ £ £
General funds 22,038 608,158 (586,390) 43,806
14 Cash (absorbed by)/generated from operations 2024 2023
£ £
(Deficit)/surplus for the year (12,660) 21,768
Movements in working capital:
(Increase) in debtors (7,019) (22)
Increase/(decrease) in creditors 173 (10,574)
Cash (absorbed by)/generated from operations (19,506) 11,172
15 Analysis of changes in net funds

The charity had no material debt during the year.