Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
Charity number: 327766
BRITISH FRIENDS OF ALEH TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Trustees' responsibilities statement | 5 |
| Independent auditors' report on the financial statements | 6 - 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Statement of cash flows | 12 |
| Notes to the financial statements | 13 - 21 |
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024
| Trustees | David Cohen |
|---|---|
| Alan Sacks | |
| Dr Hilda Cohen MBE | |
| Charity registered number 327766 Principal office 37 Ferncroft Avenue London NW3 7PG Independent auditors Blick Rothenberg Audit LLP Chartered Accountants Statutory Auditor 16 Great Queen Street Covent Garden London WC2B 5AH |
Page 1
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2024
The trustees present their annual report together with the audited financial statements of the charity for the year 6 April 2023 to 5 April 2024.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and the relevant version of the 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).
The charity also operates under the names British Friends of ADI.
Objectives and activities
a. Policies and objectives
The charity's objectives are the raising of funds to promote the education of physically and mentally handicapped children.
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the charity commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Grant-making policies
All charitable grants were provided to the ALEH and ADI homes in Israel to support a range of projects and programmes.
c. Reserves policy
The charity’s policy is to hold a minimal level of reserves, sufficient to meet day-to-day fundraising and governance costs, whilst distributing all other income to the ALEH and ADI homes in Israel.
The charity is committed to using its resources in pursuit of its charitable objectives. It is also committed to maintaining a certain level of free reserves, which is prudent to meet on-going liabilities, sufficient to ensure that all grant commitments can be met and to protect the long-term future of the charity’s activities. At the balance sheet date, the reserves were in deficit by £10,389. This is principally due to the compliance costs of having an audit, due to a legacy received in the year, which resulted in total donations exceeding the audit threshold of £1m. The trustees are satisfied that adequate unrestricted donations have been received post year end to make good the deficit and to continue to fund future grant making activities, together with related support costs.
The charity held no restricted funds.
Achievements and performance
a. Main achievements of the charity
In line with the charitable objectives, grants were provided to ALEH and ADI homes in Israel
Page 2
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024
Achievements and performance (continued)
b. Review of activities and financial performance
The statement of financial activities set out on page 10 of the financial statements shows how the fund's incoming resources have been expended in the year ended 5 April 2024.
During the year, the charity continued to rely upon donations for the majority of its income, raising £1,066,280 (2023: £126,055).
Total expenditure for the year was £1,087,718 (2023: £133,565), which was defrayed on grants payable to charitable institutions of £1,053,319 (2023: £61,433), and support and governance costs of £34,399 (2023: £72,132).
The charity reports a net deficit for the year of £21,438 (2023: £7,510).
The statement of financial position set out on page 11 of the financial statements shows the financial position of the fund at 5 April 2024.
The charity reports net liabilities of £10,389 (2023: net assets of £11,049) comprising cash at bank of £1,611 (2023: 15,020) and accruals of £12,000 (2023: £3,300).
The charity holds no restricted funds.
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Principal risk and uncertainties
The trustees actively review the major risks which the charity faces on a regular basis and undertake an annual review of the controls over key financial systems. The trustees have also examined other operational and business risks which the charity faces and confirm that they have established systems to mitigate these risks.
Structure, governance and management
a. Constitution
British Friends of Aleh is a registered charity, number 327766, and is constituted under a Trust deed dated 15 April 2015.
Page 3
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024
Structure, governance and management (continued)
b. Methods of appointment or election of trustees
The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the Trust deed.
The trustees that served in the year were:
David Cohen Alan Sacks Dr Hilda Cohen MBE
c. Financial risk management
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Disclosure of information to auditors
Each of the persons who are trustees at the time when this trustees' report is approved has confirmed that:
-
so far as that trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
-
that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Approved by order of the members of the board of trustees and signed on their behalf by:
David Cohen
Date: 16-Jun-25 | 14:54 BST
Page 4
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 5 APRIL 2024
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 law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 5
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRITISH FRIENDS OF ALEH
FOR THE YEAR ENDED 5 APRIL 2024
Opinion
We have audited the financial statements of British Friends of Aleh (the 'charity') for the year ended 5 April 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards 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 been withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 5 April 2024 and of its incoming resources and application of resources for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Page 6
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRITISH FRIENDS OF ALEH (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
-
the information given in the trustees' report is inconsistent in any material respect with the financial statements; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Page 7
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRITISH FRIENDS OF ALEH (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024
Auditors' responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
-
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
-
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the not-for-profit sector;
-
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011, taxation legislation and data protection;
-
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of managements; and
-
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
-
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
-
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
-
performed analytical procedures to identify any unusual or unexpected relationships;
-
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
-
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
-
agreeing financial statement disclosures to underlying supporting documentation;
-
enquiring of management as to actual and potential litigation and claims.
Page 8
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRITISH FRIENDS OF ALEH (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
Blick Rothenberg Audit LLP
Chartered Accountants Statutory Auditor 16 Great Queen Street Covent Garden London WC2B 5AH
Date: 16-Jun-25 | 14:56 BST
Blick Rothenberg Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 9
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward 10 Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 1,066,280 1,066,280 1,087,718 1,087,718 (21,438) 11,049 (21,438) (10,389) |
Total funds 2024 £ 1,066,280 1,066,280 1,087,718 1,087,718 (21,438) 11,049 (21,438) (10,389) |
Total funds 2023 £ 126,055 126,055 133,565 133,565 (7,510) 18,559 (7,510) 11,049 |
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 13 to 21 form part of these financial statements.
Page 10
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
BALANCE SHEET FOR THE YEAR ENDED 5 APRIL 2024
| 2024 | 2024 | 2023 | ||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Current assets | ||||||
| Cash at bank and in hand | 1,611 | 15,020 | ||||
| 1,611 | 15,020 | |||||
| Creditors: amounts falling due within one | ||||||
| year | 9 | (12,000) | (3,971) | |||
| Net current liabilities / assets | (10,389) | 11,049 | ||||
| Total assets less current liabilities | (10,389) | 11,049 | ||||
| Total net assets | (10,389) | 11,049 | ||||
| Charity funds | ||||||
| Restricted funds | 10 | - | - | |||
| Unrestricted funds | 10 | (10,389) | 11,049 | |||
| Total funds | (10,389) | 11,049 |
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
David Cohen
Date: 16-Jun-25 | 14:54 BST
The notes on pages 13 to 21 form part of these financial statements.
Page 11
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2024
| Note Cash flows from operating activities Net cash used in operating activities 12 Cash flows from investing activities Net cash provided by investing activities Cash flows from financing activities Net cash provided by financing activities Change 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 13 The notes on pages 13 to 21 form part of these financial statements |
2024 £ (13,409) - - (13,409) 15,020 1,611 |
2023 £ (7,227) - - (7,227) 22,247 15,020 |
|---|---|---|
Page 12
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
BRITISH FRIENDS OF ALEH
1. General information
British Friends of Aleh is a charity registered at the charity commission in England and Wales with charity number 327766. Its principal address is 37 Ferncroft Avenue, London, NW3 7PG.
The financial statements are presented in Sterling (£), which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
British Friends of Aleh meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The deficit for the year was £21,438 and at the balance sheet date, the charity had net liabilities of £10,389. This is principally due to the compliance costs of having an audit, due to a legacy received in the year, which resulted in total donations exceeding the audit threshold of £1m. The trustees are satisfied that adequate unrestricted donations have been received post year end to make good the deficit and to continue to fund future grant making activities, together with related support costs.
After making enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
2.3 Income
Income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Page 13
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
BRITISH FRIENDS OF ALEH
2. Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Cash at bank and in hand
Cash at bank and 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.
2.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.7 Financial instruments
The charity has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the charity becomes party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
The charity’s policies for its major classes of financial assets and financial liabilities are set out below.
Page 14
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
BRITISH FRIENDS OF ALEH
2. Accounting policies (continued)
Financial instruments (continued)
Financial assets
Basic financial assets, including cash and bank balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including other creditors 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of financial activities.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the charity would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the statement of financial activities.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Page 15
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
BRITISH FRIENDS OF ALEH
2. Accounting policies (continued)
Financial instruments (continued)
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
3. Income from donations and legacies
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Donations | 1,066,280 | 1,066,280 | 126,055 |
Included in donations is an amount of £3,586 (2023: £5,301) received from HMRC gift aid repayment claims.
4. Analysis of expenditure by activities
| Charitable activities Total 2023 |
Grant funding of activities 2024 £ 1,053,319 61,433 |
Support costs 2024 £ 34,399 72,132 |
Total funds 2024 £ 1,087,718 133,565 |
Total funds 2023 £ 133,565 |
|---|---|---|---|---|
Page 16
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
BRITISH FRIENDS OF ALEH
4. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Fundraising costs Postage and stationery Advertising Travel expenses Bank charges Telephone Governance costs Analysis of governance costs Legal and professional fees Bookkeeping and payroll costs Independent examination fees Audit and accountancy fees |
Charitable activities 2024 £ 15,127 5,426 246 - - 705 12 12,883 34,399 Unrestricted funds 2024 £ 788 95 - 12,000 12,883 |
Total funds 2024 £ 15,127 5,426 246 - - 705 12 12,883 34,399 Total funds 2024 £ 788 95 - 12,000 12,883 |
Total funds 2023 £ 51,596 8,284 365 310 2,183 724 131 8,539 |
|---|---|---|---|
| 72,132 | |||
| Total funds 2023 £ 4,725 514 3,300 - |
|||
| 8,539 |
Page 17
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
5. Analysis of grants
| Grants to | Total | Total | |
|---|---|---|---|
| Institutions | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Grants to institutions | 1,053,319 | 1,053,319 | 61,433 |
The charity has made the following material grants to institutions during the year:
| Name of institution ADI Israel ALEH Israel |
2024 £ 1,020,030 33,289 1,053,319 |
2023 £ 59,612 1,821 |
|---|---|---|
| 61,433 |
6. Auditors' remuneration
The auditors' remuneration amounts to an auditor fee of £7,800 ( 2023 - £ - ) , and preparation of financial statements of £4,200 (2023 - £ -). The independent examiner's remuneration amounts to an independent examiner's fee of £- (2023: £3,300), and bookkeeping services of £95 (2023: £514)
7. Staff costs
| Wages and salaries Social security costs |
2024 £ 14,400 727 15,127 |
2023 £ 51,053 543 |
|---|---|---|
| 51,596 |
The average number of persons employed by the charity during the year was as follows:
| Administrative staff Temporary staff |
2024 No. - - |
2023 No. 1 1 |
|---|---|---|
| 2 |
No employee received remuneration amounting to more than £60,000 in either year.
Page 18
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
8. Trustees' remuneration and expenses
During the year, no trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 5 April 2024, no trustee expenses have been incurred (2023 - £NIL).
9. Creditors: Amounts falling due within one year
| Other taxation and social security Accruals and deferred income |
2024 £ - 12,000 12,000 |
2023 £ 671 3,300 |
|---|---|---|
| 3,971 |
10. Statement of funds
| Statement of funds - current year Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 6 April 2022 £ 11,049 Balance at 6 April 2021 £ 18,559 |
Income £ 1,066,280 Income £ 126,055 |
Expenditure £ (1,087,718) Expenditure £ (133,565) |
Balance at 5 April 2024 £ (10,389) Balance at 5 April 2022 £ 11,049 |
|---|---|---|---|---|
Page 19
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
11. Analysis of net assets between funds
| Analysis of net assets between funds - current period Unrestricted funds 2024 £ Current assets 1,611 Creditors due within one year (12,000) Total (10,389) Analysis of net assets between funds - prior period Unrestricted funds 2023 £ Current assets 15,020 Creditors due within one year (3,971) Total 11,049 12. Reconciliation of net movement in funds to net cash flow from operating activities 2024 £ Net expenditure for the period (as per Statement of Financial Activities) (21,438) Adjustments for: Increase in creditors 8,029 Net cash used in operating activities (13,409) 13. Analysis of cash and cash equivalents 2024 £ Cash in hand 1,611 Total cash and cash equivalents 1,611 |
Total funds 2024 £ 1,611 (12,000) (10,389) Total funds 2023 £ 15,020 (3,971) 11,049 2023 £ (7,510) 283 (7,227) 2023 £ 15,020 15,020 |
|---|---|
Page 20
Docusign Envelope ID: FF3A56A0-A9D1-40D9-B854-7329132F5DCD
BRITISH FRIENDS OF ALEH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
14. Analysis of changes in net debt
| Cash at bank and in hand | At 6 April 2023 £ 15,020 15,020 |
Cash flows £ (13,409) (13,409) |
At 5 April 2024 £ 1,611 |
|---|---|---|---|
| 1,611 |
15. Related party transactions
The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 5 April 2024.
Page 21