**CHARITY REGISTRATION NUMBER: 803129** ## **FRIENDS OF BEIS YISROEL TRUST UNAUDITED FINANCIAL STATEMENTS** **31 DECEMBER 2021** ## **FRIENDS OF BEIS YISROEL TRUST** ## **FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2021** ||**PAGE**| |---|---| |Trustees' annual report|**1**| |Independent examiner's report to the trustees|**3**| |Statement of financial activities|**4**| |Statement of financial position|**5**| |Notes to the financial statements|**6**| **FRIENDS OF BEIS YISROEL TRUST** ## **TRUSTEES' ANNUAL REPORT** ## **YEAR ENDED 31 DECEMBER 2021** The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2021. ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Registered charity name** Friends of Beis Yisroel Trust **Charity registration number** 803129 **Principal office** New Burlington House 1075 Finchley Road London NW11 0PU **THE TRUSTEES** Mr J S Prager Mr R Wechsler Mr M Kesselman **INDEPENDENT EXAMINER** David Goldberg FCA, DCHA New Burlington House 1075 Finchley Road London NW11 0PU ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Charity is constituted as a charitable trust, and is therefore governed by its Trust Deed dated 14 March 1990. The day-to-day affairs of the charity are administered by trustees. None of the trustees have any beneficial interest in the charity. It is not currently the intention of the trustees of the Charity to appoint new trustees. Should the situation change in the future, the trustees will apply suitable recruitment training and procedures. ## **OBJECTIVES AND ACTIVITIES** The charity's object and its principal activity continues to be that providing grants for the enhancement of education and religion and for the relief of poverty. The charity receives income from donations which it utilises in the provision and distribution of grants and donations, and in particular to assist the Beis Yisroel Yeshiva Talmudical College of Jerusalem. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grant making policy for the year. **- 1 -** FRIENDS OF BEIS YISROEL TRUST TRUSTEES, ANNUAL REPORT (¢Wth¥èdl YEAR ENDED 31 DECEMBER 2021 ACHIEVEMENTS AND PERFORMANCE During the year the charity Continued its philanihropi¢ activities in support of ￿li￿ou8. edu¢ational and other charitable institutio￿8 ¥J￿. aggregate donations in the sum of £223.000 (2020: £327,000) were paid in the year to 31 December 2021. The f￿ancIal results of the cbarity'$ activili¢s for the year ended 31 December 2021 aff ￿llY r¢fl¢cl¢d in the attached financial slalements together with th¢ not¢s thereon. FINANCIAL REVIEW Reserve Polley It is the policy of the charity to maintain uYmtri¢ted funds at a l¢v¢l whi¢h the tntst¢e8 thsnk PPTopriate, af￿ Considering th¢ ￿tUre commitm¢nts of the ch8t7ty and the likely costs of the charity for the next year. As at 31 De¢¢mb¢r 2021 th¢ ¢hority has total funds of £1 I,OW, all of which Ore ￿n￿strICted r¢wves. Gr&nt mAking wliey Grants are made to charitable institutions and organisations which accord with the objects of the charity. and in particular to Bels Yisroel Yeshiva. Rl$k Man*gemellt The trust¢e8 have id¢ntifia and reviewed the major risks to which the charity is expo￿￿. in particular thos¢ r¢lated to th¢ op¢rations and Ffftance of the charity, and are satisfied thAt systems are in place to manag¢ th0￿ risks. PLANS FOR FUTURE PERIODS Th¢ trusltts plan lo rontinue to make distributions in accordance with their grant making ￿11¢Y and to ensure that an appTopriate level of reserves is maintsitL¢d, The tn￿tees, annual report was approved on 6 September 2022 and signed on behalf of the board of trustees by.. MR J S PRAGER Tr￿stee FRIENDS OF BEIS YISROEL TRUST INDEPENDENf EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF BEIS YISROEL TRUST YEAR ENDED 31 DECEMBER 2021 I report to the trustee5 on my examination of the financial siatements of Friends of Bels Yisroel TTh￿t ('the charity,) for the year end¢d 31 Lkcember 2021. RESPONSIBILITIES AND BASIS OF REPORT As the tnJs¢ees of th¢ charity you are responsible foT the preparaiion of the financial statements in ac¢ordance with the requirernents of the Charities Act 2011 {'the A¢t'). I report in respect of my examination of the charity'5 fin8ncial statements carried out under section 145 of the 2011 Act and in carrying out my exaTninalion I have followed all the applicable Directions given by Éhe Charity Commission under section 145(5)(b) of the Act. INDEPENDENT EXAMINERIS STATEMENT I have completed my examination, I confimi that no Materi￿ matters h&v¢ come to my attention in nnection with the exomination giving me cause lo believe that in any material resp¢ct.' accounting records were not kept in respect of the charity as ￿qUIred by seciion 130 of th¢ Act; or the financial st&lements do not accord with those records. or the financial sratemenls do not comply with the applicable requirements concerning the fomi and content of accounts set out in ihe Charities (A¢counls and Reports) Regulations 2008 other than any requirement ihat the accounts give a 'true and fail view which is not a marrer considered as part of an independent examination. I have no concems and have come across no oih¢r matters in conne¢tion with the examination to which attention should drawn in this rewTrrt in order to enable a proper underslandirbg of th¢ accounis to be reached. OLDBERG FCA, DCHA ependenl Examiner New Burlington House 1075 Finchley Road London NWII OPU 6 Sepl¢mber 2022 ## **FRIENDS OF BEIS YISROEL TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **YEAR ENDED 31 DECEMBER 2021** |||**2021**||2020| |---|---|---|---|---| |||Unrestricted||| |||funds**Total funds**||Total funds| ||**Note**|**£**|**£**|£| |**INCOME AND ENDOWMENTS**||||| |Donations and legacies|**4**|232,332|232,332|317,273| |||-------------------------------------|-------------------------------------|-------------------------------------| |**TOTAL INCOME**||232,332|232,332|317,273| |||=====================================|=====================================|=====================================| |**EXPENDITURE**||||| |Expenditure on raising funds:||||| |Costs of raising donations and legacies|**5**|(1,624)|(1,624)|(100)| |Expenditure on charitable activities|**6,7**|(224,980)|(224,980)|(329,025)| |||-------------------------------------|-------------------------------------|-------------------------------------| |**TOTAL EXPENDITURE**||(226,604)|(226,604)|(329,125)| |||=====================================|=====================================|=====================================| |||-------------------------------------|-------------------------------------|-------------------------------------| |**NET INCOME/(EXPENDITURE) AND NET**||||| |**MOVEMENT IN FUNDS**||5,728|5,728|(11,852)| |||=====================================|=====================================|=====================================| |**RECONCILIATION OF FUNDS**||||| |Total funds brought forward||5,362|5,362|17,214| |||-------------------------------------|-------------------------------------|-------------------------------------| |**TOTAL FUNDS CARRIED FORWARD**||11,090|11,090|5,362| |||=====================================|=====================================|=====================================| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 6 to 9 form part of these financial statements.** **- 4 -** FRIENDS OF BEIS YISROEL TRUST STATEMENT OF FINANCIAL POSTfioN 31 DECEMBER 2021 2021 2020 Note CURRENT ASSETS Cash at b8mk and in hand 12,890 7,162 CREDITORS: amounts folllng due wlthln one year (1,800) (1.800) 5,362 NET CURRENT ASSETS 11.090 TOTAL ASSETS LESS CURRENT LIABILITIES 11.090 5.362 NET ASSETS 11,090 5.362 FUNDS OF THE CHARITY Unrestricted funds 11.090 11,090 5.362 TOTAL CHARITY FUNDS 12 5,362 These financial slat¢m¢nts wue approved by the board of trustees and authoTi8ed for issue on 6 September 2022. and are signed on behalf of the board by: MRJSP TTUStee GER The ttot*& on p4ei 6 to 9 form partof thue IIDan¢laJ JtateTaent& **FRIENDS OF BEIS YISROEL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2021** ## **1. GENERAL INFORMATION** The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is New Burlington House, 1075 Finchley Road, London, NW11 0PU. ## **2. STATEMENT OF COMPLIANCE** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', 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) (Charities SORP (FRS 102)) and the Charities Act 2011. ## **3. ACCOUNTING POLICIES** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Judgements and key sources of estimation uncertainty** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. ## **Incoming resources** All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. **- 6 -** **FRIENDS OF BEIS YISROEL TRUST** **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 DECEMBER 2021** ## **3. ACCOUNTING POLICIES** _**(continued)**_ ## **Resources expended** 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, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. ## **Charitable activities** Grants payable are charged to the statement of financial activities once the charity has made a commitment to pay the grant and this has been communicated to the beneficiary or the grant has been paid, whichever is earlier. ## **Financial instruments** A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. ## **4. DONATIONS AND LEGACIES** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2021**|Funds|2020| ||£|**£**|£|£| |**DONATIONS**||||| |Donations|232,332|232,332|317,273|317,273| ||=====================================|=====================================|=====================================|=====================================| ## **5. COSTS OF RAISING DONATIONS AND LEGACIES** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2021**|Funds|2020| ||£|**£**|£|£| |Costs of raising donations|1,624|1,624|100|100| ||==========================|==========================|================|================| **- 7 -** **FRIENDS OF BEIS YISROEL TRUST** **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 DECEMBER 2021** ## **6. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2021**|Funds|2020| ||£|**£**|£|£| |Grants to Beis Yisroel Yeshiva|223,000|223,000|327,000|327,000| |Support costs|1,980|1,980|2,025|2,025| ||-------------------------------------|-------------------------------------|-------------------------------------|-------------------------------------| ||224,980|224,980|329,025|329,025| ||=====================================|=====================================|=====================================|=====================================| ## **7. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE** ||Activities|||| |---|---|---|---|---| ||undertaken||**Total funds**|Total fund| ||directly|Support costs|**2021**|2020| ||£|£|**£**|£| |Grants to Beis Yisroel Yeshiva|223,000|
–|223,000|327,000| |Governance costs|–|
1,980|1,980|2,025| ||-------------------------------------|--------------------------|-------------------------------------|-------------------------------------| ||223,000|
1,980|224,980|329,025| ||=====================================|==========================|=====================================|=====================================| |**INDEPENDENT EXAMINATION FEES**||||| ||||**2021**|2020| ||||**£**|£| |Fees payable to the independent examiner for:||||| |Independent examination of the financial statements|||1,800|1,800| ||||==========================|==========================| ## **8. INDEPENDENT EXAMINATION FEES** ## **9. STAFF COSTS** No salaries or employee benefits were paid during the year (2020: £Nil). ## **10. TRUSTEE REMUNERATION AND EXPENSES** No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. The charity did not meet any expenses incurred by the trustee for services provided to the charity. (2020: £Nil). ## **11. CREDITORS: amounts falling due within one year** ||**2021**|2020| |---|---|---| ||**£**|£| |Accruals and deferred income|1,800|1,800| ||==========================|==========================| **- 8 -** ## **FRIENDS OF BEIS YISROEL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 DECEMBER 2021** ## **12. ANALYSIS OF CHARITABLE FUNDS** ## **Unrestricted funds** |**Unrestricted funds**||||| |---|---|---|---|---| ||At|||**At**| ||1 January||**31 December**|| ||2021|Income|Expenditure|**2021**| ||£|£|£|£| |General funds|5,362|232,332|
(226,604)|11,090| ||==========================|=====================================|=====================================|===============================| ||At|||At| ||1 January|||31 December| ||2020|Income|Expenditure|2020| ||£|£|£|£| |General funds|17,214|317,273|
(329,125)|
5,362| ||===============================|=====================================|=====================================|==========================| |**ANALYSIS OF NET ASSETS**|**BETWEEN FUNDS**|||| ||||Unrestricted|**Total Funds**| ||||Funds|**2021**| ||||£|**£**| |Current assets|||12,890|12,890| |Creditors less than 1 year|||(1,800)|
(1,800)| ||||-------------------------------|-------------------------------| |**Net assets**|||11,090|11,090| ||||===============================|===============================| ||||Unrestricted|Total Funds| ||||Funds|2020| ||||£|£| |Current assets|||7,162|7,162| |Creditors less than 1 year|||(1,800)|
(1,800)| ||||--------------------------|--------------------------| |**Net assets**|||5,362|5,362| ||||==========================|==========================| ## **13. ANALYSIS OF NET ASSETS BETWEEN FUNDS** ## **14. RELATED PARTIES** No related party transactions were made in the year under review. **- 9 -**