Friends of Bnei Akiva (Bachad) Charity Accounts

FRIENDS OF BNEI AKIVA (BACHAD) - Company Information

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COMPANY REGISTRATION NUMBER: 05373032

CHARITY REGISTRATION NUMBER: 1109706

Friends of Bnei Akiva (Bachad)

Company Limited by Guarantee

Unaudited Financial Statements

30 September 2021

Friends of Bnei Akiva (Bachad)

Company Limited by Guarantee

Financial Statements

Year ended 30 September 2021

	Page

Trustees' annual report (incorporating the director's report)	1

Independent examiner's report to the trustees	4

Statement of financial activities (including income and expenditure account)	5

Statement of financial position	6

Notes to the financial statements	8

Friends of Bnei Akiva (Bachad)

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 30 September 2021

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 September 2021 .

Reference and administrative details

Registered charity name	Friends of Bnei Akiva (Bachad)

Charity registration number	1109706

Company registration number	05373032

Principal office and registered	2 Hallswelle Road
office	London
	NW11 ODJ

The trustees

	Mr S Blumgart
	Mr M Weinstein
	Mr S Melnick

Independent examiner	GK & Co LLP
	Hallswelle House
	1 Hallswelle Road
	London
	NW11 0DH

Structure, governance and management

GOVERNING DOCUMENT

Friends of Bnei Akiva (Bachad) is a charitable company, limited by guarantee, incorporated on 22 February 2005 and registered as a charity with the Charity Commission on 26 May 2005. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

APPOINTMENT OF TRUSTEES

The directors of the company are also charity trustees for the purposes of charity law. The charitable company is managed by a board of trustees which is responsible for setting the strategic direction of the organisation and for establishing policy. The trustees are appointed by the board on the recommendation of other members of the board.

TRUSTEE INDUCTION AND TRAINING

All longstanding trustees are already familiar with the practical work of the charity and new trustees are encouraged to attend board meetings to familiarise themselves with the charity and the context within which it operates.

ORGANISATION STRUCTURE

As mentioned above, the charity is managed by a board of trustees.

The trustees meet on a regular basis to deal with special business. The Charity works closely, in a spirit of friendship and co-operation with Bnei Akiva. Its members are made up of parents, former members and well-wishers. They support the work with fund-raising and collecting donations for capital projects, as well as supporting Bnei Akiva with funds for its educational work.

RELATED PARTIES

The charity has a close relationship with Bnei Akiva for whom it supplies financial and other support. Bnei Akiva is the world's largest religious Zionist youth organisation, active all over the world, with over 50,000 members.

RISK MANAGEMENT

The trustees have conducted a review of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, and visitors to the youth centres. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. The charity manages its financial risk by setting a reserves policy which is regularly reviewed by trustees.

Objectives and activities

The principal objectives of the charity throughout the year have been to foster and promote education (including education in the Jewish Religion) for Jewish youth in The United Kingdom and in Israel. These objectives are achieved by providing support, financial and otherwise, to Bnei Akiva.

The charity also provides grants for needy individuals children towards the cost of various Bnei Akiva camps, Israel trips, and other events.

The charity has youth centres in Manchester and London for the purposes of achieving these objectives.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Achievements and performance

The main areas of charitable activities are the provision and maintenance of the youth centres in London and Salford, organising events and providing grants to Bnei Akiva.

Financial review

During the year, the charity's funds have been applied in furtherance of its objectives and the day to day running of the charity.

In the year to 30 September 2021, incoming resources amounted to £88,017 (2020: £149,425) and resources expended amounted to £215,436 (2020: £337,284).

At 30 September 2021, the charity had a total unrestricted fund balance of £1,124,259 (2020: £1,251,678).

There have been no changes in the accounting policies of the charity during the year.

The charity will continue to depend on donors and past and present members who have supported our activities.

The trustees would like to express our gratitude to our donors, members, and volunteers who have generously given of their time and effort and have contributed towards the charity's activities and objectives.

RESERVE POLICY

The trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission and have concluded that the general reserves amounting to £1,124,259 (2020: £1,251,678) are necessary to maintain the day to day running of the charity and to achieve its objectives.

PUBLIC BENEFIT

The trustees have considered the guidance published by the Charity Commission and believe that the charity in carrying out its objectives, fully complies with these requirements. In particular the work with fund-raising and collecting donations for capital projects, and supporting Bnei Akiva with funds for its educational work and supporting jewish youth through traditional religious education and social activities automatically gives rise to a public benefit. Each year the trustees review the objectives and activities of the charity to ensure that they continue to reflect these aims. In carrying out this review the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.

Plans for future periods

The charity plans to continue the activities as outlined above.

The trustees' annual report and the strategic report were approved on 16 May 2022 and signed on behalf of the board of trustees by:

Mr S Melnick

Trustee

Friends of Bnei Akiva (Bachad)

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Friends of Bnei Akiva (Bachad)

Year ended 30 September 2021

I report to the trustees on my examination of the financial statements of Friends of Bnei Akiva (Bachad) ('the charity') for the year ended 30 September 2021.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

GK & Co LLP Independent Examiner

Hallswelle House 1 Hallswelle Road London NW11 0DH

16 May 2022

Friends of Bnei Akiva (Bachad)

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 30 September 2021

	2021		2020
	Unrestricted funds	Total funds	Total funds
Note	£	£	£

Income and endowments

Donations and legacies	5	64,257	64,257	133,435
Other income	6	23,760	23,760	15,990
		--------	--------	---------
Total income		88,017	88,017	149,425
		--------	--------	---------

Expenditure

Expenditure on raising funds:

	Costs of raising donations and legacies	7	6,258	6,258	26,008
Expenditure on charitable activities		8,9	209,178	209,178	311,276
			---------	---------	---------
Total expenditure			215,436	215,436	337,284
			---------	---------	---------

	---------	---------	---------
Net expenditure	( 127,419)	( 127,419)	( 187,859)
	---------	---------	---------

Other recognised gains and losses

Gains from revaluation of fixed assets	–	–	300,000
	---------	---------	---------
Net movement in funds	( 127,419)	( 127,419)	112,141

Reconciliation of funds

Total funds brought forward	2,333,166	2,333,166	2,221,025
	------------	------------	------------
Total funds carried forward	2,205,747	2,205,747	2,333,166
	------------	------------	------------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Friends of Bnei Akiva (Bachad)

Company Limited by Guarantee

Statement of Financial Position

30 September 2021

	2021	2020
Note	£	£

Fixed assets

Tangible fixed assets	13	2,743,393	2,744,906

Current assets

Debtors	14	2,852	22,580
Cash at bank and in hand		31,423	58,596
		--------	--------
		34,275	81,176

Creditors: amounts falling due within one year	15	181,856	142,851
		---------	---------
Net current liabilities		147,581	61,675
		------------	------------
Total assets less current liabilities		2,595,812	2,683,231

Creditors: amounts falling due after more than one year	16	390,065	350,065
		------------	------------
Net assets		2,205,747	2,333,166
		------------	------------

Funds of the charity

Unrestricted funds:

	Revaluation reserve		1,081,488	1,081,488
	Other unrestricted income funds		1,124,259	1,251,678
			------------	------------
Total unrestricted funds			2,205,747	2,333,166
			------------	------------
Total charity funds		17	2,205,747	2,333,166
			------------	------------

For the year ending 30 September 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Friends of Bnei Akiva (Bachad)

Company Limited by Guarantee

Statement of Financial Position (continued)

30 September 2021

These financial statements were approved by the board of trustees and authorised for issue on 16 May 2022 , and are signed on behalf of the board by:

Mr S Melnick

Trustee

Friends of Bnei Akiva (Bachad)

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 30 September 2021

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 2 Hallswelle Road, London, NW11 ODJ.

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 Companies Act 2006.

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

General funds are unrestricated funds which are available for use at the discretion of the trustees in furtherance of the general objectifies of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each of the restricted funds is set out in the notes to the financial statements.

Incoming resources

All incoming resources are 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. The following specific policies are applied to particular categories of income: - 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. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

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 reported as part of the expenditure to which it relates. Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of fundraising activities carried out by the charity. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity. All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of the resources.

Tangible assets

Freehold properties are shown at valuation and the other fixed assets are initially recorded at cost. No depreciation is provided on freehold land and buildings as the charity has a policy and practice of regular repairs and maintenance (charges for which are recognised in the income and expenditure account) such that the freehold land and buildings is maintained at its existing state.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures, fittings & equipment	-	20% reducing balance
Religious artefacts	-	2 % straight line

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.

4. Limited by guarantee

5. Donations and legacies

Unrestricted Funds	Total Funds 2021	Unrestricted Funds	Total Funds 2020
£	£	£	£

Donations

Donations and covenants	51,689	51,689	107,135	107,135
Brochures	–	–	22,907	22,907
Dinner	50	50	263	263
Other rental and hall hire	1,090	1,090	2,170	2,170
Events and appeals	11,428	11,428	960	960
	--------	--------	---------	---------
	64,257	64,257	133,435	133,435
	--------	--------	---------	---------

6. Other income

	Unrestricted Funds	Total Funds 2021	Unrestricted Funds	Total Funds 2020
	£	£	£	£
Rents received	23,760	23,760	15,990	15,990
	--------	--------	--------	--------

7. Costs of raising donations and legacies

	Unrestricted Funds	Total Funds 2021	Unrestricted Funds	Total Funds 2020
	£	£	£	£
Costs of raising donations and legacies - Donations	6,258	6,258	26,008	26,008
	-------	-------	--------	--------

8. Expenditure on charitable activities by fund type

	Unrestricted Funds	Total Funds 2021	Unrestricted Funds	Total Funds 2020
	£	£	£	£
Grants paid	120,893	120,893	228,150	228,150
Support costs	88,285	88,285	83,126	83,126
	---------	---------	---------	---------
	209,178	209,178	311,276	311,276
	---------	---------	---------	---------

9. Expenditure on charitable activities by activity type

	Activities undertaken directly	Support costs	Total funds 2021	Total fund 2020
	£	£	£	£
Grants paid	120,893	82,902	203,795	305,976
Governance costs	–	5,383	5,383	5,300
	---------	--------	---------	---------
	120,893	88,285	209,178	311,276
	---------	--------	---------	---------

10. Net expenditure

Net expenditure is stated after charging/(crediting):

	2021	2020
	£	£
Depreciation of tangible fixed assets	1,513	1,648
	-------	-------

11. Independent examination fees

	2021	2020
	£	£

Fees payable to the independent examiner for:

Independent examination of the financial statements	3,360	3,360
	-------	-------

12. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

13. Tangible fixed assets

	Land and buildings	Equipment	Torah scrolls	Total
	£	£	£	£
Cost
At 1 October 2020 and 30 September 2021	2,700,000	29,047	48,665	2,777,712
	------------	--------	--------	------------
Depreciation
At 1 October 2020	–	26,345	6,461	32,806
Charge for the year	–	540	973	1,513
	------------	--------	--------	------------
At 30 September 2021	–	26,885	7,434	34,319
	------------	--------	--------	------------
Carrying amount
At 30 September 2021	2,700,000	2,162	41,231	2,743,393
	------------	--------	--------	------------
At 30 September 2020	2,700,000	2,702	42,204	2,744,906
	------------	--------	--------	------------

14. Debtors

	2021	2020
	£	£
Tax on gift aid	2,222	6,747
Other debtors	630	15,833
	-------	--------
	2,852	22,580
	-------	--------

15. Creditors: amounts falling due within one year

	2021	2020
	£	£
Accruals and deferred income	3,360	3,360
Other creditors	178,496	139,491
	---------	---------
	181,856	142,851
	---------	---------

Other creditors relate to amounts due to Bnei Akiva of Gt Britain & Ireland.

16. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Other creditors	390,065	350,065
	---------	---------

Other creditors wholly comprise of an interest free loan from one of the trustees amounting to £390,065 (2020 £350,065).

17. Analysis of charitable funds

Unrestricted funds

	At 1 October 2020	Income	Expenditure	Gains and losses	At 30 September 2021
	£	£	£	£	£
Unrestricted Fund - General Fund	1,251,678	88,017	(215,436)	–	1,124,259
Revaluation reserve	1,081,488	–	–	–	1,081,488
	------------	--------	---------	----	------------
	2,333,166	88,017	(215,436)	–	2,205,747
	------------	--------	---------	----	------------

	At 1 October 2019	Income	Expenditure	Gains and losses	At 30 September 2020
	£	£	£	£	£
Unrestricted Fund - General Fund	1,439,537	149,425	(337,284)	–	1,251,678
Revaluation reserve	781,488	–	–	300,000	1,081,488
	------------	---------	---------	---------	------------
	2,221,025	149,425	(337,284)	300,000	2,333,166
	------------	---------	---------	---------	------------

18. Analysis of net assets between funds

	Unrestricted Funds	Total Funds 2021
	£	£
Tangible fixed assets	2,743,393	2,743,393
Current assets	34,275	34,275
Creditors less than 1 year	(181,856)	(181,856)
Creditors greater than 1 year	(390,065)	(390,065)
	------------	------------
Net assets	2,205,747	2,205,747
	------------	------------

	Unrestricted Funds	Total Funds 2020
	£	£
Tangible fixed assets	2,744,906	2,744,906
Current assets	81,176	81,176
Creditors less than 1 year	(142,851)	(142,851)
Creditors greater than 1 year	(350,065)	(350,065)
	------------	------------
Net assets	2,333,166	2,333,166
	------------	------------