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 T￿￿95 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 tr￿lee8 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 RepOrt￿g by Charities." Statement of RecQmn￿nded 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 w￿nting 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 Ke￿M 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 aCt￿rt￿ 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, wh￿h is lower than tha p￿vIouS year due lo the gr8nl funding actN￿e5. The trustees believe that the financial situation of ¢harfty continues lo be satisfactory and trat Suffi￿ant 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. a￿1 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 SDF￿1 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 wh￿h 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 b￿1$ 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 AC￿Unting and Reporting by Charitses.. Statement of Re¢ommended Practce issued on 1 April 2005 which is ref8rrad to in the exlant re9￿atiOnS LKrt ha$ now been withdr8wn. l understsnd that this h8s bèen dC￿e 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'. a￿oUntIng recor(Is were not kopt in wp¢¢t ol the charty as requir￿1 by section 130 of th8 2011 Act.. or the financial ststfjments do not ac￿rd 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 E￿tsIn 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 le9￿8s 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 Recomw￿n{led Pradice applicabl& to charities preparing their accounts in accxjrdance with the Financial Re￿rtifig 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 th￿e 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 fores￿ble 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 obl￿tIves. Restricted funds are subj￿* to speofic cond￿On9 by donors as lo how they may b8 used. The purpos8s and uses of the restriG*gd 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 ra￿gnised once the charity has been notified of the donation, unless perfomiance LyJrVJit￿n$ ￿quirt d8f8rral of the am(KJnt. Income tax recoverable in relation to donatic￿8 raeeiv8d under Gift Aid or 11eeds of covenant Is re￿gniSed 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 re￿niSed once the￿ is a le981 or (x)nstDJctive obligation to transfer ecOn￿nIC 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 invO￿d 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 be￿0$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 dI￿dY athibute