**CHARITY REGISTRATION NUMBER: 803129**
## **FRIENDS OF BEIS YISROEL TRUST UNAUDITED FINANCIAL STATEMENTS**
**31 DECEMBER 2022**
## **FRIENDS OF BEIS YISROEL TRUST**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2022**
||**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 2022**
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2022.
## **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 -**
Reserve Policy
It is the w>lic)' of the chanh. lo maifttn unr¢5tn"¢t¢d funds a lei'¢l i%"hich thc trustec5 think.
appropnatc. after considernig the future commitsn¢nts orth¢ Charits. and the lik¢l!' costs of the charili.
for th¢ ncxt N'ear.
As at 31 tkcembcr 2022 the charili. has funds of£i1.934. all of ii'hich are unrcstrictd reserves.
Grant making policy
ants arc madc lo charitablc institutions a[ organi5alions M"hich accord 14.ith the objecls of the
charih.. and in particular lo Bels Yisrixl Yeshii"a.
Risk Management
The tnjsiees hai'e Idenljfied and rei'ieN.'ed the major nsks to ii'hich the chants. Is eNtM)scd. In particular
those relatcd to the operats'ons and finance of the charitt.. and are satisfied that N'slems arc In place to
managTre thosc risks.
PLANS FOR FUTURE PERIODS
Thc trust¢¢s plan to contirlue lo makc distrsbutsons in ac¢ordoncc %%'ith th¢ir srunl mok-ins poli¢). nnd io
ensure that an appropriat¢ loi'¢l of resenos is maintain.
The Èrusiccs, annual rcwrt was approi'ed on 16 June 2023 aTh4 signed on behalf of thc knard or
MRJSP
GER
Trustec
FRIENDS OF BEIS YISROEL TRUST
IIYDEPEIWENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF
BEIS YISROEL TRUST
YEAR EI¥DED 31 DECEMBER 2022
report to the trusiees on my examination of the financial statements of Friends of Bels Yisroel TTr1
('the charity,) for ihe y¢ar ended 31 December 2022.
RESPONSIBILITIES AND BASIS OF REPORT
As the trustees of the charity YOU responsible for the preparation of the financial statements in
accordance with the r¢quiTements of the Charities Act 2011 ('the Act,).
I report in respect of my examination of the ChIty'S financial slateinenis carried out under seclion 145
of the 2011 Act and in carrying out my examination I have follow¢d all the applicable Directions
given by the Charity Commission under section 145(5)(b) of the A¢t.
INDEPENDENT EXAMINER'S STATEMENT
Since ihe charity's gross income ex¢eeded £250,000 your examin¢r must be a member of a body listed
In section 145 of the 201 l Act. I confirm that l ain qualified lo undertak¢ the exainination b¢cause I
am a member of the Insliiul¢ of Cl)artered Accountants in England and Wales (ICAEW). wliicl) is one
of the listed bodies.
I have completed my examination. I confim that no malerial matters have come lo my attention in
connection with the examination giving me cause to believe that in any maierial respect..
accounting re¢ords were not kept in respect of the charity &$ required by se¢lion 130 of lh¢
the finan¢ial statements do not 8c¢ord with those Tecords; or
the financial statements do not Comply with the applicable requirements Concerning the
fomi and content of 8ccounis set out in the Charities (Accounts and Reports) Regulations
2008 other than any requirement that the accounts give a 'lrue and fairf view which is not a
malt¢r considered part of an independent examination.
I have no con¢erns and have come acr055 no other matters in connection wilh the examination to
which attention should be drawn in this report in order to enable a proper understanding of the
ac¢ounts to b¢ reached.
DAVJD
Ind
ISERG FCA, DCHA
Examiner
ew Burlington House
1075 Finchley Road
London
NWII OPU
16 June 2023
## **FRIENDS OF BEIS YISROEL TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 DECEMBER 2022**
|||**2022**||2021|
|---|---|---|---|---|
|||Unrestricted|||
|||funds**Total funds**||Total funds|
||**Note**|**£**|**£**|£|
|**INCOME AND ENDOWMENTS**|||||
|Donations and legacies|**4**|326,038|326,038|232,332|
|||-------------------------------------|-------------------------------------|-------------------------------------|
|**TOTAL INCOME**||326,038|326,038|232,332|
|||=====================================|=====================================|=====================================|
|**EXPENDITURE**|||||
|Expenditure on raising funds:|||||
|Costs of raising donations and legacies|**5**|(220)|(220)|(1,624)|
|Expenditure on charitable activities|**6,7**|(324,974)|(324,974)|(224,980)|
|||-------------------------------------|-------------------------------------|-------------------------------------|
|**TOTAL EXPENDITURE**||(325,194)|(325,194)|(226,604)|
|||=====================================|=====================================|=====================================|
|||-------------------------------------|-------------------------------------|-------------------------------------|
|**NET INCOME AND NET MOVEMENT IN FUNDS**||844|844|5,728|
|||=====================================|=====================================|=====================================|
|**RECONCILIATION OF FUNDS**|||||
|Total funds brought forward||11,090|11,090|5,362|
|||-------------------------------------|-------------------------------------|-------------------------------------|
|**TOTAL FUNDS CARRIED FORWARD**||11,934|11,934|11,090|
|||=====================================|=====================================|=====================================|
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 TRIIST
STATEME OF FINANCIAL POSITIO
31 DECEMBER 2022
2022
2021
CURREfrfT ASSETS
C'uJli bank and th h9nd
15.534
12.890
CREDITORS.. amounts falling duewithin one
)'ear
li
(3.(m)
11,8(M))
ET CURRENT ASSETS
11.934
11,090
11,090
TOTAL ASSETS LESS CURRENT LIABILITIES
1.934
ET ASSETS
11.934
I I,(Y40
I"L?NDS OF THE CHAIUTY
Unr¢slrictcd funds
11.934
TOTAL CHARITI. FUliDS
12
11.934
11,090
Th¢s¢ financial stolcn*nts 'Cre approi'cd h thc iwrd of trus and audKKisa for isryu¢ on 16 June
2023.
orc ¥* on b¢haif of thc iM)ard ix,:
MRJS PRAGER
'I'rust
The noks 6 thy fom pin rfthese fancIal ststemffl
**FRIENDS OF BEIS YISROEL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2022**
## **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 2022**
## **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 paable 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|**2022**|Funds|2021|
||£|**£**|£|£|
|**DONATIONS**|||||
|Donations|326,038|326,038|232,332|232,332|
||=====================================|=====================================|=====================================|=====================================|
## **5. COSTS OF RAISING DONATIONS AND LEGACIES**
||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|
||Funds|**2022**|Funds|2021|
||£|**£**|£|£|
|Costs of raising donations|220|220|1,624|1,624|
||================|================|==========================|==========================|
**- 7 -**
**FRIENDS OF BEIS YISROEL TRUST**
**NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 DECEMBER 2022**
## **6. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE**
||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|
||Funds|**2022**|Funds|2021|
||£|**£**|£|£|
|Grants to Beis Yisroel Yeshiva|323,009|323,009|223,000|223,000|
|Support costs|1,965|1,965|1,980|1,980|
||-------------------------------------|-------------------------------------|-------------------------------------|-------------------------------------|
||324,974|324,974|224,980|224,980|
||=====================================|=====================================|=====================================|=====================================|
## **7. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE**
||Activities||||
|---|---|---|---|---|
||undertaken||**Total funds**|Total fund|
||directly|Support costs|**2022**|2021|
||£|£|**£**|£|
|Grants to Beis Yisroel Yeshiva|323,009|
–|323,009|223,000|
|Governance costs|–|
1,965|1,965|1,980|
||-------------------------------------|--------------------------|-------------------------------------|-------------------------------------|
||323,009|
1,965|324,974|224,980|
||=====================================|==========================|=====================================|=====================================|
|**INDEPENDENT EXAMINATION FEES**|||||
||||**2022**|2021|
||||**£**|£|
|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 (2021: £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. (2021: £Nil).
## **11. CREDITORS: amounts falling due within one year**
||**2022**|2021|
|---|---|---|
||**£**|£|
|Accruals and deferred income|3,600|1,800|
||==========================|==========================|
**- 8 -**
## **FRIENDS OF BEIS YISROEL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 DECEMBER 2022**
## **12. ANALYSIS OF CHARITABLE FUNDS**
## **Unrestricted funds**
|**Unrestricted funds**|||||
|---|---|---|---|---|
||At|||**At**|
||1 January||**31 December**||
||2022|Income|Expenditure|**2022**|
||£|£|£|£|
|General funds|11,090|326,038|
(325,194)|11,934|
||===============================|=====================================|=====================================|===============================|
||At|||At|
||1 January|||31 December|
||2021|Income|Expenditure|2021|
||£|£|£|£|
|General funds|5,362|232,332|
(226,604)|
11,090|
||==========================|=====================================|=====================================|===============================|
|**ANALYSIS OF NET ASSETS**|**BETWEEN FUNDS**||||
||||Unrestricted|**Total Funds**|
||||Funds|**2022**|
||||£|**£**|
|Current assets|||15,534|15,534|
|Creditors less than 1 year|||(3,600)|
(3,600)|
||||-------------------------------|-------------------------------|
|**Net assets**|||11,934|11,934|
||||===============================|===============================|
||||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|
||||===============================|===============================|
## **13. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
## **14. RELATED PARTIES**
No related party transactions were made in the year under review.
**- 9 -**