Charity registratlon number 313687 YESHIVAT KEREM BYAVNEH FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
YESHIVAT KEREM BYAVNEH FOUNDATION CONTENTS Page Trustses, rewKt Independent ex8minerfs report Slatsment of finanual activities Balance sheet Notss to the financAal statetnents 6-10
YESHIVAT KEREM B'YAVNEH FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION T95 D Morris SDFrei J Bauemfreund Ch•rity numb•r 313687 Prlnclpal address 67 Shlrehall Park Hendon London NW4 2QN Indèpendènt examlner Anthony Epstein FCA Paragon Partnws LSmhed Churc*ill House 137- 139 Brent Street London NW4 4DJ
YESHIVAT KEREM BYAVNEH FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2023 The trlee8 present their annual report and financial staiem8nts forth8 year eftded 5 Aoril 2023. The flnan(ial stalernents have been prepared in accordance with tho accounting polieias sét out in note 1 to thg finan¢ial stal8ln9nts and comply with the charitys 9overnin9 documènl, th8 Ch8rpb88 Ad 2011 and"Accounting and RepOrtg by Charities." Statement of RecQmnnded Pra¢tiLY applicabb to charities preparing their a¢covnts in accordance with Financial Repoitng Stsndard applicable in the UK and Republic of Ireland IFRS 1021" (0$ amended for wnting periods MMenC1ng from 1 January 20161. Objectives and actlvltles The ot)jects are to support, promote and foster the inststubon of r81igious and vocational tr8ining known as Yeshiwdt KeM Byavneh in Israel. There has been no ¢hange In these durfn9 th& year. The polcy of the Tru31 continue8 lu be to 8eek donations to pur8ue the charty's objects. The truslees have paid due regard lo guidance issued by the Charity ComTHission in deGKlng what aCtrt the charity should undertBke. Achi•vom•nts and pÈrfomi•nc• The trustees conslder the perfomian¢e of the charity during the year to be satisfactory. Donation8 of £75.75812022 - £47,482) wara rgc9fvgd and orants totslling £55,00012022- £0) were rnade during the year. Flnanclal rÈviÈw The chBrity continues to attracl support of the ¢x)mmunity to gnable il lo pursue its obiedives. An èxcess of income over expenditure of £11,250 12022 - £46,543) arose in the yew, whh is lower than tha pvIouS year due lo the gr8nl funding actNe5. The trustees believe that the financial situation of ¢harfty continues lo be satisfactory and trat Suffiant fiJnd5 are available to rrnit the charity to continue in the foreseeab future. 11 is the policy of the charity lo maintsin unrpstricted funds. which are free reserves of the charity, at a level whith trustees thlnk atvroprtale after considering the fLrture ry)mrnilrnents and Ihe likely adminislralive costs of trust for the nèxt year. The tnjslees has assessed the major risks to which th8 charity is &xposèd. a1 are satisfi8d that systems are In place lo mitsgate exposure to the major risks. Plans for future perlods The Iruslees Intend lo continue the promotion of the charity in th&ir 8fforts to attract furthar funding of the charity's Dbjects. structure. goveman¢e and management Th8 charty was established by a charitable trust d8ed on 25th July 1968 and is r8oistsrod charity under numbgr 313687. The tru*ees vkno served during the y¢ar and up Ig the dale of signature Df the finandal 8talements were: D Morri SDF1 J Bauemfreund Appointrnènt of the tmstfyes 1$ govamed by the Trust Deed of the charity. The Board of Trustw is authorised to appoint naw trusteos to ffill vacanaes arising ttrwough wignation or death of an exrsting trust80. The trust deed provides for a minimum ol thre6 trust8&s.
YESHIVAT KEREM B'YAVNEH FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5APRIL 2023 The board nf trustees 18 the gowmSrKJ bc#Jy whh administers the Charity. AJI major de(ysi¢Jns are made by the boar(1 which meats to discu8s and forrnulate wlicy gnd to decide on strategy. The trustees, report was approved by the Board of Trustees. SDFrei Trustse 1 Fabruary 2024
YESHIVAT KEREM B'YAVNEH FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YESHIVAT KEREM BYAVNEH FOUNDATION I report to the trustees on my examination ol the financial statements of Ye$hival Kerem B*avneh Foundation (the charity) for the year ended 5 April 2023. Responslbiliti¢$ and b1$ of report As trustaas of the charty you are resprMsl)le for the preparatitsn of the financi81 stat8mgnts in accDrdancg With the requirements of the CharitiesAct 2011 Ilhe 2011 Acti. I rep)rt In respect of my ex8min8tion of th& chBrity's finoncial statements carried out under sgction 145 of the 2011 Acl. In Gawrying out my examination I have follow8d all the applic8bla Dfféctions Givan by the CharÈty Comnwssion U[er 8e¢lN)n 145(511bl of the 2011 Act. Independent examlnerf$ ststement Your attention is drawn to the that the ¢harity has prepared financial statements in a¢cord8nc• wrth Aco)unting and Reporting by Charities preparing their nIS in aCcOrdar wrfh the Financial Reporting Stsndard applicable in the UK and Republ of Ireland IFRS 1021 Sn pr8femnc8 to the ACUnting and Reporting by Charitses.. Statement of Re¢ommended Practce issued on 1 April 2005 which is ref8rrad to in the exlant re9atiOnS LKrt ha$ now been withdr8wn. l understsnd that this h8s bèen dCe in order for financial statements to provide a true and fair viwv in accordance with GenerallyAcupled Accounting Pra¢ti¢e effeclNe for repcvting periods beginning on or after 1 January 2015. I have completed my examination. l Confim) that no motters have cL)me to rny attention in connection with tr xamination givlig me cause to believe that in 8ny matorial r8speGt'. aoUntIng recor(Is were not kopt in wp¢¢t ol the charty as requir1 by section 130 of th8 2011 Act.. or the financial ststfjments do not acrd with those records., or the finangal statements do not comply with the 8ppllcaNe rèquirem8nts conc8ming the form and ¢ontent of accounts set out in the Charities (Acwunts and Reports) RaguL4tions 2008 other than any requirement that th8 accounts gwe a true and fair view which is not a Fn8tt8r cxjnsidgred as part of an Independent examination. I have no concerns and have come across no other matters in connedion with the examin8tion to which attèntion should drawn in this report in orderto enablg a pr¢Jper underslondlng of the financial stalemtrnts to be reached. Antho EtsIn FCA Paragon Partners Lllnited Churthill Hou89 137- 139 Brent London NW4 4DJ Date(1'. 1 February 2024
YESHIVAT KEREM B'YAVNEH FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5APRIL 2023 Unr•strlct•d Unrestrlrted funds fund$ 2023 2022 Notes Income from: Donattons and le98s 75,758 47,482 ndliurè on: Charitsble activities 55,0 Other 939 Total expendlture 64.508 939 Net Incom• for tha yearl Net movemont In funds 11,250 46,543 Fund balance8 al 6April 2022 65,280 18,737 Fund bgl¥ncos at SApTil 2023 76.530 65,280
YESHIVAT KEREM B'YAVNEH FOUNDATION BALANCE SHEET AS AT 5 APRIL 2023 2023 2022 Notes Currènt ass•ts Debtors C8sh at bank in harnl 10 542 76.708 6S,912 77,250 66,000 Cre(fitorn: amounts falllng dug wlthln on• year 11 (7201 17201 Net current assets 76,530 65,280 Income funds Unrestricled ft2nds 76,530 65,280 76,530 65,280 The financial 8tatewnents were approved by the T $ on 1 February 2024 SDFre Trus19¢
YESHIVAT KEREM B'YAVNEH FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Accounting polides Ch¥Aty Informatlon Yeshivat Kerem B'yavneh FoundatiLN) is a charity estsbllshed by a ch8ritabla trust degd on 25th July 1966. 1.1 Accountrng conventlon The finanoal statements have been prepared in a¢eord8nc& with the charitys tgovèmlng documentl. the Charities Act 2011, FRS 102 °The Financial Reporting Standard applicable in tha UK and Rewblic of Ireland" I"FRS 102,1 aThJ the Charitigs SORP "Accounting and Reporting by Charitses.. Statement of Recomwn{led Pradice applicabl& to charities preparing their accounts in accxjrdance with the Financial Rertifig Standard applicable in th8 UK and Republic of Ir8land IFRS 102)" (effective 1 January 20191. The tharity 1$ a Public Benefrt Entty as dgfA)ed by FRS 1(Y2. The charfty has lakgn adv8ntsge of tha provisions in the SORP for charities not to preparo a Statsment ol Cash Flo. The finanaal statements have departed frC the Charities (Accounts and Rep)rtsl RegulalDns 2008 only lo thg extent required to provide a true and fair view. This departure has involv8d followng the Ststemant of Recommended Practlcg for charities applying FRS 102 rather than tha varsion of the Statement of Rewmm8nd8d Prathcg which is r6ferre(J to in tha Regulation$ but which has slncg been witmrawn. Th8 finèncSal ststsmenls 9 prepared in sleiling. which is the fvnctional currency of Ihe charity. Mcffletary 8mounts in the financial ststemènts are round to the n8arest £. The financial statements have been prepared under the historical cost convention. The prinopal acoJuntirvJ polirAes adopted are Set cwt below. 1.2 Golng Concern At the time ol approving the financial statemewts, the trustees havè A raasonable expectation that the charity has adequate resour$ to continuo in operational exstence for the foresble futtJr&. Thus the trustees continue lo adopt tho going rDncgrn l>asis of accounting in weparing the financial stst8m¥nts. 1.3 Charitable funds Unrestrtcted funds are awailable for use at the discr&ttw of twst8as in furtherance of their charitablg obltIves. Restricted funds are subj to speofic condOn9 by donors as lo how they may b8 used. The purpos8s and uses of the restriGgd funds are set t in the notes to the finanual statements. IA In¢ome Income is recognised vthen the ¢h8rity is legally enliued to it after any performance conditions have been meL the amounts can be measured ieliab1y, and it is probable th8t income wll bg received. Cash donations are ())gniSed on recèipt. Other donations are ragnised once the charity has been notified of the donation, unless perfomiance LyJrVJitn$ quirt d8f8rral of the am(KJnt. Income tax recoverable in relation to donatic8 raeeiv8d under Gift Aid or 11eeds of covenant Is regniSed at th8 time ofthe donation.
YESHIVAT KEREM BYAVNEH FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Accountlng pollcl85 (Contlnu•dl 1.5 Expenditur• ExperKliture is reniSed once the is a le981 or (x)nstDJctive obligation to transfer ecOnnIC benefit lo a third party, it is probable that a transfer of econthnic benefits wll be r8quired in seltlemenl and the 8mounl of the th)ligation can be measured relitbly. Expenditurè is cl8ssifiad by activity. Tha cfjsts of aach 8Ctivity arè made of the total of dKact costs and shared c¥)sls, including 8UPPOrt costs invOd in undertaking each activity. Direct cy)sls attributable lo a single activtty are allctated directly lo that activity. Shared c03ts which contritr4Jte to more than one aclivty and support costs whith are not attributable lo a single activity are apportion8d be0$n those activib'es on a basis ¢onsistent with the use of resour. Central staff are allocated the basis of time spent, and depreciation charge8 are allocated on the portlon of the assevs use. Expenditu is accounted for an acuuals bgsls and has been Classified under headin9S that aggregale all cost re18ted lo the category. Where costs cannot be dIdY athibute<l to partilar headTh)gs they have been albcgted to activities on a b88is ¢onsistent wlth the use of resources. 1.6 Cash ¢ash oquivalonts Cash and cash aquivalents indude c4sh In hand. deposhs hold al call wlth banks. c4hgr $hort4orm liquld invgsfments with original maluri(ies of threp months or less, and bank ovgrdrafts. Bank overdrats are sts)wn wilhin brown9S in cvrrert li8biltbe$. 1.7 Flnanclal Instruments The charity has elected to apply IhB provisions of Section 11 '8asic Financial Instruments, and Secbon 12 'other Financial InstnJmenls18sues' of FRS 102 to all of its financial inslwments. Financial nistruments are recognised in the charitys balanc8 sheet when the chority becomes party to the COntrtUal provisions of the instrum8nt. FInanal a859ts 8nd liabilibgs are offsgt, with the ngt ampunts presgiiled in the finan¢ial statements, when Iherg is a legally enfoable w¥JFit to set off the recoynise(J amounts and there is an intention to settle on a net basis or to realise the asset and settle Ihe liabilty simultsneously. Baslc 17nanclal assets Basic financial assets, whrth include debtors and (sh and bank balan8, are initially measured at trdnsaction price includ¥)g tranwtion costs and are subsequently Carried at amortised Cost thsing th8 efféctive interest method unless the 8rr8ngemènt consb"tutÉs a fin8ft¢ing tran$a¢lron, where thè transaction is measured at the present value of the future receipts discounted at a market rate of interest. Finanaal ¥ssgts dassified as receivable within one year are not amwtis9d. flnan¢lalli8bilits•s Basic financial liabilities, induding creditors and bank loans are initially recognised at Iransactign wice Un$$ the arrangement consttules a fnancing transaclion. where the debt instrument is measured * the present value of the fijture payments discounted at a market rale of interest. FInCIal liabileS dassifd as payabl ithin one y¢ar are Thjt amortised. Der¢¢ognltitin of finanelalliabilld•s FirTranGial liabilities a dorecowised when the charity's contractual obligations expire or are distharged or C9n¢elled.
YESHIVAT KEREM B'YAVNEH FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Accountlng pollcle8 {Continuédl 1.8 Employee beneffts The cost of any unus8d holiday ent(dement is recwnised in the period in whith the employee's servThs are receNed. Temiination benefits are recogni8ed Immediate as an expense when the tharity 1$ demonstrably CA)mmitt8d to lgrminate the employment of an employ80 or to prENd8 t8miinatDn benefits. 1.9 Goveman¢• ¢osts Expenditure on management and admini$tr8tion of tha Charity includes all expenditurg not direcdy related to the charilable aclivty or fun(kaising ventures. 1.10 Funds The charivs UreStrICted funds a available for general use by the charity. Crltlc•l a¢countlng estlmatss and judgemènts In the application of Ihg eharty's accounting policies, the trustees are required to make judgements, èStlmate$ 8rKI gssumptions about th& carrying amount of assets and liabilities that are not ralty apparent frorn ulh¢f sourcès. The 8slimale6 and assoc4aled assumptions a based on historical experianca and other factors that are tn81dared to be relevant. Actual resutts may difftrr from thesè estimates. The estimates and undetying assumptions are reviewed on an ongolng basis. Revisions to 8ecounting estimates are COgnISed in t17e pariod in whith the estimate 18 revised vthere the revision affects only that persod, or in the rItsd ttf thè rèvision and fubJr8 periods where the reviston affects both current aThJ fubJ periods. Donations and l•ga¢les Vnrgstricted Unrestri¢t•d funds funds 2023 2022 Donations and gifts 75,758 47,482 Charitable actlvitles 2023 Grant funding of activities (see note 51 S5.000
YESHIVAT KEREM BYAVNEH FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5APRIL 2023 Grants payablo 2023 2022 Grants lo institutions 55,000 TrusteÈs None of trustees lor any person$ connectad wFth tham) rac8ivad any remuneration during the year nor were afty expenses reimbursèd to them. Employ•os Th& average monthly number of employees éuring the year was.. 2023 2022 mber Number Totsl Th8r8 were no employees whose 8nnu81 remunèraon was mora than £60.000. Olher 2023 2022 Awuntancy Other arlministrauve expenses 720 6,788 720 219 9,508 939 Twtion The charity is exempt from tax on inrne and garns fallrng within section 505 of T8xes Act 1988 or sectlon 252 of the Taxathonof chargeab GainsAcl 1992 to Ihe exlent that 1hèse are applied to its oharitable ()ject$. 10 D•btors 2023 2022 Amounts falling due wlthln one year.. Other debtors 542 88
YESHIVAT KEREM B'YAVNEH FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 11 Cr•ditors: amounts falllng du• wilNn on• yoar 2023 2022 A¢cruals and deferr&i incorne 720 720 12 R•latod party transactlon$ There were no disdosabl8 related paty transadlons dumg the year12022- non81. 10-