## **REGISTERED CHARITY NUMBER: 298814** **Report of the Trustees and Financial Statements For The Year Ended 31 March 2021 for The Friends of the Yeshivat Har Etzion Trust** ## **The Friends of the Yeshivat Har Etzion Trust** ## **Contents of the Financial Statements for the Year Ended 31 March 2021** ||**Page**| |---|---| |Report of the Trustees|2| |Statement of Financial Activities|3| |Balance Sheet|4 to 5| |Statement of Cashflows|6| |Notes to the Financial Statements|7 to 9| |Detailed Statement of Financial Activities|10| 1 **The Friends of the Yeshivat Har Etzion Trust** ## **Report of the Trustees for the Year Ended 31 March 2021** The trustees of the charity present their report with the unaudited financial statements of the charity for the year ended 31 March 2021. The financial statements 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 2015). ## **Registered Charity number** 298814 ## **Registered office** 25 Broughton Avenue Finchley, London N3 3ES ## **Trustees** Rabbi D Roselaar S Ebert ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, dated 22 February 1988. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Board is satisfied that such controls are in place and that all risks are reviewed in the course of regular Board meetings. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The main object of the charity is the furtherance and promotion of the Jewish religion and Jewish religious education. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Charitable activities** The trustees consider that the performance of the charity in the year has been satisfactory. Donations received in the year amounted to £132,154. The Statement of Financial Activities shows outgoing resources for the year of £68,801 due to the charity making grants of £200,000 during the year. The total reserves were £89,579 at the balance sheet date. This report was approved by the trustees on 20 September 2021 and signed on their behalf S Ebert – Trustee 2 **The Friends of the Yeshivat Har Etzion Trust** ## **Statement of Financial Activities for the Year Ended 31 March 2021** |**Notes**
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Voluntary income
Total incoming resources
**RESOURCES EXPENDED**
**Charitable activities**
Operating expenses
**Total charitable activities**
**Total resources expended**
**NET (OUTGOING)/INCOMING RESOURCES**
**3**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**2021**
**Unrestricted**
**Funds**
2020
Unrestricted
Funds
**£**
£
**132,154**
136,139| |---|---| ||**132,154**
136,139
**(200,955)**
(910)| ||**(200,955)**
(910)| ||**(200,955)**
(910)| ||**(68,801)**
135,229
**158,380**
23,151| ||**89,579**
158,380| 3 **The Friends of the Yeshivat Har Etzion Trust** ## **Balance Sheet At 31 March 2021** |**Notes**
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
**8**
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
General fund
**9**
Total Unrestricted Funds
**TOTAL FUNDS**|**2021**
2020
**£**
£
**90,479**
159,280| |---|---| ||**90,479**
159,280
**(900)**
(900)| ||**89,579**
158,380| ||**89,579**
158,380| ||**89,579**
158,380| ||**89,579**
158,380| ||**89,579**
158,380| ||**89,579**
158,380| 4 ## **The Friends of the Yeshivat Har Etzion Trust** ## **Balance Sheet - continued At 31 March 2021** The charity is entitled to exemption from audit in accordance with the Charities Act. The trustees acknowledge their responsibilities in accordance with the Charities Act for - (a) ensuring that the charity keeps proper accounting records - (b) preparing financial statements which give a true and fair view of the state of affairs of the charity The financial statements were approved by the Board of Trustees on 20 September 2021 and were signed on its behalf by: ............................................. S Ebert -Trustee 5 **The Friends of the Yeshivat Har Etzion Trust** ## **Statement of Cashflows for the Year Ended 31 March 2021** |**Notes**
**Cash (used)/generated by operating activities**
**8**
**(Decreases)/Increase in cash and cash**
**equivalents in the year**
**Cash and cash equivalents at the beginning of**
**the year**
**Cash and cash equivalents at the end of the**
**year**|**2021**
2020
**£**
£
**(68,801)**
136,129
**(68,801)**
136,129| |---|---| ||**159,280**
23,151| ||**90,479**159,280| 6 **The Friends of the Yeshivat Har Etzion Trust** ## **Notes to the Financial Statements for the Year Ended 31 March 2021** ## **1. ACCOUNTING POLICIES** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## **Basis of preparation** The financial statements have been prepared 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) (effective 1 January 2015) - (Charities SORP (FRS 102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ## **Reconciliation with previous Generally Accepted Accounting Practice** In preparing the accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. Following a review, it was deemed that no restatements were required. ## **Preparation of accounts on a going concern basis** The Trustees reported at deficit for the year of £68,801 and a cash outflow of £68,801. Reserves at the balance sheet date total £89,579. The Trustees have reviewed the immediate future income and expenses, including any future impacts of the COVID-19 virus, and this analysis, together with the reserves, provides the basis that the Charity is a going concern for the next 12-18 months. ## **Incoming resources** All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. ## **Resources expended** 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. ## **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. ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. **Cash at bank and in hand** Cash at bank and cash 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. 7 **The Friends of the Yeshivat Har Etzion Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021** ## **1. ACCOUNTING POLICIES (cont.)** ## **Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **2. NET INCOMING RESOURCES** Net resources are stated after charging: |Governance costs (see note 4)|**2021**
2020
**£**
£
**900**
900| |---|---| ||**900**
900| ## **4. Governance costs** |Accountancy fees|**2021**
2020
**£**
£
**900**
900| |---|---| ||**900**
900| ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. ## **Trustees' Expenses** There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. 8 **The Friends of the Yeshivat Har Etzion Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021** ## **6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Accruals and deferred income
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
TOTAL FUNDS|**2021**
2020
**£**
£
**900**
900
**At**
**01.04.20**
**Net**
**movement**
**in funds**
**At**
**31.03.21**
**£**
**£**
**£**
158,380
(68,801)
89,579| |---|---| ||**158,380**
**(68,801)**
**89,579**| ## **7. MOVEMENT IN FUNDS** |Net movement in funds, included in the above are as follows:|Net movement in funds, included in the above are as follows:|||| |---|---|---|---|---| ||**Incoming**
**resources**|**Resources**
**Expended**|**Fund**
**Transfers**|**Net**
**Movement**
**in funds**| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |General fund|**132,154**|**(200,955)**|**-**|**(68,801)**| |TOTAL FUNDS|**132,154**|**(200,955)**|**-**|**(68,801)**| **8. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES** |Net movement in funds
Increase in creditors
**Net Cash used in operating activities**|**2021**
2020
**£**
£
**(68,801)**135,229
**-**
900| |---|---| ||**(68,801)**136,129| The notes form part of these financial statements 9 **The Friends of the Yeshivat Har Etzion Trust** ## **Detailed Statement of Financial Activities for the Year Ended 31 March 2021** |**INCOMING RESOURCES**
**Voluntary income**
Donations
Total incoming resources
**RESOURCES EXPENDED**
**Charitable activities**
Finance charges
Governance
Grants and donations
**Total charitable activities**
**NET (OUTGOING)/INCOMING RESOURCES**|**2021**
2020
**£**
£
**132,154**
136,139| |---|---| ||**132,154**
136,139| ||**55**
**900**
**200,000**
10
900
-| ||**(200,955)**
(910)| ||**(68,801)**
135,229| This page does not form part of the statutory financial statements 10