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REGISTERED COMPANY NUMBER: 05219183 (England and Wales)
REGISTERED CHARITY NUMBER: 1112797




















Report of the Trustees and

Financial Statements
FOR THE YEAR ENDED
30 September 2023

for

YAD VOCHESSED ASSOCIATION LIMITED

YAD VOCHESSED ASSOCIATION LIMITED

Contents of the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Report of the Trustees 1 to 3

Report of the Independent Auditors 4 to 6

Statement of Financial Activities 7

Balance Sheet 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11 to 15

YAD VOCHESSED ASSOCIATION LIMITED (REGISTERED NUMBER: 05219183)

Report of the Trustees
FOR THE YEAR ENDED 30 SEPTEMBER 2023



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES
Aims, Objectives and Activities for the Public Benefit
The objectives of the charity and its principal activities are to advance such charitable purposes for the public benefit whether by making grants or otherwise as the trustees see fit, in particular, but not limited to the following:

Prevention or relief of poverty and financial hardship:
The prevention or relief of poverty by providing grants to individuals in need and to charities, or other organisations working to prevent or relieve poverty.

Advancement of education:
To advance the education of the public in general in the subject of the Jewish religion by making grants to institutions promoting knowledge and education of the Jewish religion.

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.

The trustees identify institutions, organisations and individuals which meet its above criteria and regularly support a number of these institutions, organisations and individuals.

Grant making
Grants are made to charitable institutions and organisations and to individuals after it has been satisfied that payments will accord with the objectives of the charity.

Volunteers
There were no volunteers during the year.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The results for the year and the financial position at the year end were considered satisfactory by the trustees.

During the year the charity continued its philanthropic activities in support of religious, educational, charitable institutions and needy individuals making donations totalling £2,298,141 (2022: 2,297,085).

Fundraising activities
Donations were considered reasonable and the trustees feel that the present level of income is sufficient to permit the charity to continue for the foreseeable future.

A summary of the charity's transactions and of its financial position is shown in the financial statements together with the accompanying notes.

FINANCIAL REVIEW
Principal funding sources
The principal funding sources are donations from individuals and related companies.

Reserves policy
The charity aims to maintain reserves in order that it is in a position to continue its grant making activities at a consistent level and to cover contingencies of additional calls being made upon the charity for support of organisations, institutions or individuals in times of need.

The present level of funding is adequate to support the continuation of the provision of assistance by the giving of grants in the short term, and the trustees consider the financial position of the charity to be satisfactory.

FUTURE PLANS
The trustees plan to continue to support charities and charitable purposes in accordance with their grant making policy and to ensure that the ability to generate sufficient income is maintained to achieve that end.

YAD VOCHESSED ASSOCIATION LIMITED (REGISTERED NUMBER: 05219183)

Report of the Trustees
FOR THE YEAR ENDED 30 SEPTEMBER 2023


STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The charity is constituted as a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association.

Organisational structure
The company currently has 3 trustees; names of members are listed below. The charity is organised so that the trustees meet regularly to manage the affairs of the charity.

Induction and training of new trustees
New Trustees must familiarise themselves with the content of the Memorandum and Articles of Association, their legal obligations under charity and company law, the organisational structure of Yad Vochessed Association Ltd and the recent financial performance of the charity.

Training of trustees will depend on their previous knowledge and experience.

Related parties
Details of transactions with 'Related Parties' are disclosed in Note 14 to the Financial Statements.

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 are in place to mitigate exposure to major risks.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05219183 (England and Wales)

Registered Charity number
1112797

Registered office
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

Trustees
Mr D Krautwirt
Mr J Lipschitz
Mrs F Lipschitz

Company Secretary
Mr J Lipschitz

Auditors
Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Yad Vochessed Association Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".


YAD VOCHESSED ASSOCIATION LIMITED (REGISTERED NUMBER: 05219183)

Report of the Trustees
FOR THE YEAR ENDED 30 SEPTEMBER 2023


STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-there is no relevant audit information of which the charitable company's auditors are unaware; and
-the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS
The auditors, Melinek Fine LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 29 July 2024 and signed on its behalf by:





Mr J Lipschitz - Trustee

Report of the Independent Auditors to the Members of
Yad Vochessed Association Limited (Registered number: 05219183)


Opinion
We have audited the financial statements of Yad Vochessed Association Limited (the 'charitable company') for the year ended 30 September 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:
-give a true and fair view of the state of the charitable company's affairs as at 30 September 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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 charitable company'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.

Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Yad Vochessed Association Limited (Registered number: 05219183)


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements
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 a Report of the Independent Auditors 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 designed procedures in line with our responsibilities outlined above, to detect material misstatements in respect of irregularities, including fraud.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and
non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the Charity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of trustees minutes; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including
fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the
nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently
more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that
material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

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 Report of the Independent Auditors.

Report of the Independent Auditors to the Members of
Yad Vochessed Association Limited (Registered number: 05219183)


Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr Danny Fine (Senior Statutory Auditor)
for and on behalf of Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

29 July 2024

YAD VOCHESSED ASSOCIATION LIMITED

Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2023 2022
Unrestricted Total
funds funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 2,354,855 2,313,953

EXPENDITURE ON
Raising funds 3 - 16,500

Charitable activities 4
Charitable activities 9,078 11,577
Education 1,539,394 1,276,615
Relief of Poverty 627,398 453,718
Community Development 131,349 566,752
Total 2,307,219 2,325,162

NET INCOME/(EXPENDITURE) 47,636 (11,209 )


RECONCILIATION OF FUNDS
Total funds brought forward 19,731 30,940

TOTAL FUNDS CARRIED FORWARD 67,367 19,731

YAD VOCHESSED ASSOCIATION LIMITED (REGISTERED NUMBER: 05219183)

Balance Sheet
30 SEPTEMBER 2023

2023 2022
Unrestricted Total
funds funds
Notes £    £   
CURRENT ASSETS
Debtors 9 5,699 3,019
Cash at bank 99,971 65,015
105,670 68,034

CREDITORS
Amounts falling due within one year 10 (19,970 ) (19,970 )

NET CURRENT ASSETS 85,700 48,064

TOTAL ASSETS LESS CURRENT LIABILITIES 85,700 48,064

CREDITORS
Amounts falling due after more than one year 11 (18,333 ) (28,333 )

NET ASSETS 67,367 19,731
FUNDS 13
Unrestricted funds 67,367 19,731
TOTAL FUNDS 67,367 19,731

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


The financial statements were approved by the Board of Trustees and authorised for issue on 29 July 2024 and were signed on its behalf by:





Mr J Lipschitz - Trustee

YAD VOCHESSED ASSOCIATION LIMITED

Cash Flow Statement
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2023 2022
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 44,956 (12,088 )
Net cash provided by/(used in) operating activities 44,956 (12,088 )

Cash flows from financing activities
Loan repayments in year (10,000 ) (10,000 )
Net cash used in financing activities (10,000 ) (10,000 )

Change in cash and cash equivalents in
the reporting period

34,956

(22,088

)
Cash and cash equivalents at the
beginning of the reporting period

65,015

87,103
Cash and cash equivalents at the end of
the reporting period

99,971

65,015

YAD VOCHESSED ASSOCIATION LIMITED

Notes to the Cash Flow Statement
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2023 2022
£    £   
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)

47,636

(11,209

)
Adjustments for:
Increase in debtors (2,680 ) (3,019 )
Increase in creditors - 2,140
Net cash provided by/(used in) operations 44,956 (12,088 )


2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.22 Cash flow At 30.9.23
£    £    £   
Net cash
Cash at bank 65,015 34,956 99,971
65,015 34,956 99,971

Debt
Debts falling due within 1 year (10,000 ) - (10,000 )
Debts falling due after 1 year (28,333 ) 10,000 (18,333 )
(38,333 ) 10,000 (28,333 )
Total 26,682 44,956 71,638

YAD VOCHESSED ASSOCIATION LIMITED

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. DONATIONS AND LEGACIES
2023 2022
£    £   
Donations 2,354,855 2,313,953

3. RAISING FUNDS

Raising donations and legacies
2023 2022
£    £   
Fundraising costs - 16,500


YAD VOCHESSED ASSOCIATION LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
(see note costs (see
5) note 6) Totals
£    £    £   
Charitable activities - 9,078 9,078
Education 1,539,394 - 1,539,394
Relief of Poverty 627,398 - 627,398
Community Development 131,349 - 131,349
2,298,141 9,078 2,307,219

5. GRANTS PAYABLE
2023 2022
£    £   
Education 1,539,394 1,276,615
Relief of Poverty 627,398 453,718
Community Development 131,349 566,752
2,298,141 2,297,085

The total grants paid to institutions during the year was £2,072,472 (2022: £2,041,178). A summary of grants made to institutions during the year is as follows:

Name of Institution Amount (£ )

Beis Aharon Trust 193,700
Satmar 171,592
Talmud Torah Bene Aharon Jerusalem 86,470
Machzikei Lomdei Torah 64,465
Kollel 47,055
Heichalei Hakodesh 40,000
Kollel Boker 40,000
Kupas Hakohol 40,000
Vaad Hasimchos 40,000
Beis Vaad 39,746
Maamodos 37,560
Rabbi of Strikov Bene Berak 35,000
Ezer Leyoldos Machnovke 31,555
Beitar Mikva 30,000
Reshet Hakollelim 30,000
Yeshiva Gedola Bene Berak 30,000
Building Fund 117 29,605
Yeshiva Ketana Elad 29,513
Admor Shlita 29,279
Belz Shul 29,230
Elad Mosdos 28,700
Mosdos Beth Shemesh 28,000
Mosdos Tschechnov Jerusalem 27,491
Yeshiva Gedola D'London 27,483
Mechon Shemn Rokeach 27,163
Beis Hamedrash Kedushas Aharon 25,500
Other 833,365

Total grants to institutions 2,072,472

YAD VOCHESSED ASSOCIATION LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


6. SUPPORT COSTS
Governance
Finance Other costs Totals
£    £    £    £   
Charitable activities 1,475 534 7,069 9,078

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£    £   
The auditing of accounts of any associate of the charity 4,200 4,200

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2023 nor for the year ended 30 September 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2023 nor for the year ended 30 September 2022.


9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,699 3,019

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 12) 10,000 10,000
Trade creditors 3,069 3,069
Accruals and deferred income 6,901 6,901
19,970 19,970


YAD VOCHESSED ASSOCIATION LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 12) 18,333 28,333

12. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year on demand:
Bank loans 10,000 10,000
Amounts falling between one and two years:
Bank loans - 1-2 years 10,000 10,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 8,333 18,333

13. MOVEMENT IN FUNDS
Net
At movement At
1.10.22 in funds 30.9.23
£    £    £   
Unrestricted funds
General fund 19,731 47,636 67,367

TOTAL FUNDS 19,731 47,636 67,367

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 2,354,855 (2,307,219 ) 47,636

TOTAL FUNDS 2,354,855 (2,307,219 ) 47,636


Comparatives for movement in funds

Net
At movement At
1.10.21 in funds 30.9.22
£    £    £   
Unrestricted funds
General fund 30,940 (11,209 ) 19,731

TOTAL FUNDS 30,940 (11,209 ) 19,731

YAD VOCHESSED ASSOCIATION LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


13. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 2,313,953 (2,325,162 ) (11,209 )

TOTAL FUNDS 2,313,953 (2,325,162 ) (11,209 )

14. RELATED PARTY DISCLOSURES

The total donations without conditions received from related parties, in which a trustee of the company is also a director, was £102,469 (2022: £365,700).