Registered number: 04094203
Charity number: 1084272
(A Company Limited by Guarantee)
TRUSTEES' REPORT AND CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
CONTENTS
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Page 1
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees (who are also directors of the charity for the purpose of the Companies Act) present their Annual Report together with the audited financial statements of UK Friends Of The Association For The Wellbeing Of Israel's Soldiers (the company and the group) for the year 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the group and the Company qualify as small under section 383 of the Companies Act 2006, the Group Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. POLICIES AND OBJECTIVES
The principal objectives of the charity as set out in the governing documents are:
1.The relief of need and suffering of serving and discharged Israeli soldiers and their families;
2.The advancement of education of serving and discharged Israeli soldiers; and
3.To provide or assist in the provision of facilities for recreation or other leisure time occupations in the interest of social welfare.
There have been no changes in the objectives since the last Annual Report.
b. STRATEGIES FOR ACHIEVING OBJECTIVES
c. PUBLIC BENEFIT
Page 2
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
Achievements and performance
a. REVIEW OF ACTIVITIES
In pursuit of the objectives listed above, the charity and its subsidiary undertook the following activities during the period:
The charity held virtual fundraising events as well as an in person events contributed to the donations received by the group. The charity received donations including gift aid in the year totaling £760,704 (2023: £727,437). The increase in donations in the year to 31 March 2024 was as a result of the following:
∙an emergency appeal for funding to support the wellbeing of Israeli soldiers both regular and in particular reservists, mobilised following the heinous attack by Hamas on October 7, 2023.
Donations are made at the full discretion of the trustees of UK Friends of the Association of Israel's Soldiers ("UK Friends of AWIS"), and are given only to support projects that the Trustees deem to be consistent with the objectives of UK Friends of AWIS. The Trustees regularly travel to Israel to ensure that the funds sent from the UK are applied consistently with the charity's objectives. The charity does not undertake projects directly themselves but provides funding for projects being undertaken by other organisations that have been pre-approved by the Trustees.
The total level of donations made to other charities to support our pre-approved projects totalled £497,316 (2023: £292,358). Example of projects that were funded and the level of funding provided during the current year are:
∙Provision of funds - £43,000 - sent to assist the well-being of soldiers in various units as requested. The beneficiaries were primarily lone soldiers and injured soldiers.
∙Scholarships - £16,261 - which provides funding for underprivileged former Israeli soldiers to obtain higher education by covering the full cost of tuition at an accredited institution as well as related expenses such as textbooks.
∙UK AWIS give through AWIS Israel £88,000 to participate in the funding of a national event specifically for the benefit of young people.
∙AWIS-Israel for various welfare projects - £295,297
Some of these projects were specifically undertaken to meet the well-being needs of soldiers many of whom were reservists who were mobilised for the defence of Israel in the war against Hamas after 7 October, 2023. This was the main reason for the significant increase in funds provided to Israel over the previous year. It is also represented a return to more unusual pattern of donations since the previous two years had been reduced as a result of COVID.
A review of costs in the current year compared to the prior year indicated that most costs have been consistent year on year with the exception of legal costs. The charity incurred considerable legal costs for support in the enquiries undertaken by the Charity Commission. There will be further associated expenditure incurred in 2024-2025 account period.
Page 3
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
Achievements and performance (continued)
b. Fundraising activities and income generation
The charity continues to have the ongoing support of a number of regular donors and supporters who donate on an annual basis for the various causes the charity supports.
Towards the end of the 2022, the charity decided to make use of Charity Extra to assist with the fundraising efforts. They were engaged to operate virtual fundraising events because it became impractical to hold large dinners due to the COVID restrictions and therefore the charity had seen a decline in donations received. Virtual events using a fundraising platform were considered to be an appropriate alternative to raise the charity profile and increase the level of donations. There were satisfactory results of the first events as reviewed by the trustees and therefore they were encouraged to repeat these events during 2023 and into 2024 year end. The donations received directly from Charity Extra in the year was £42,541 (2023: £179,089) with associated fundraising and payment processing fees of £6,234. It is however noted that additional donations were pledged or paid directly to the charity as a result of these online campaigns. The trustees made a decision during the year to pay towards the voluntary Fundraising Regulator Levy now that they are more actively fundraising in this way as they understand the importance of following the Code of Fundraising Practice. Trustees monitor the outcome of all fundraising efforts by reviewing the level of donations received and the costs involved to assess whether this has been effective. There have historically been no complaints connected to the fundraising efforts of the charity. However, during the year and after the ongoing conflict and the events of 7th October, a complaint has been raised to the Charity Commission in relation to some of the fundraising content and this is currently being investigated by trustees and with the Charity Commission. On the advice of our legal representatives, the Trustees decided to suspend the transfer of donations to Israel pending the outcome of the enquiries. This resulted in the charity having a much higher level of funds in its bank account than it would normally wish to hold. Following an interim report from the Charity Commission in July 2024 the transfer of funds to Israel donated to UK AWIS by donors has been resumed.
Financial review
a. RESERVES POLICY
Donations received by the charity are applied for the purposes of the charity as soon as it is practicable. The charity retains sufficient reserve funds to meet expenses. No reserves are designated. The usual reserves policy of the charity is to hold funds to the equivalent of 3 months of ongoing costs as a contingency. In recent years, the level of reserves held has been significantly higher than this. Due to the knock on impact of the COVID-19 pandemic, funds have been held back due to the inability of trustees and donors alike to visit projects due to the travel restrictions. This meant that there was less oversight on how the funds were to be spent in Israel and a decision was made to reduce the funding sent for the short term. In addition, many projects were held up due to the lockdown restrictions and therefore funds have not been transferred until projects move forward. The trustees are making an active effort to distribute excess funds in a timely manner moving forwards.
Page 4
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
Financial review (continued)
b. PRINCIPAL FUNDING
Structure, governance and management
a. CONSTITUTION
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 12 October 2000.
The company's charity number is 1084272 and its registered company number is 04094203. The company is registered at the following address: 1st Floor Sackville House 143-149 Fenchurch Street London EC3M 6BL
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
Trustees are appointed at the discretion of the acting trustees at the Annual General Meeting. There is no set policy in place for the induction and training of new trustees and this is arranged as required.
c. ORGANISATIONAL STRUCTURE AND DECISION MAKING
The board of Trustees, of a minimum of three members, administers the charity. The Trustees who served during the year were as follows: Z. C. Remez P. A. Sussmann J. E. Swidler R. J. Kemp The company's bankers are National Westminster Bank plc, Chatham Rcsc, Western Avenue, Waterside Court, Chatham Maritime, Chatham, Kent, ME4, 4RT. The company's auditors are Wilder Coe Ltd, Chartered Accountants & Statutory Auditors, 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL.
d. PAY POLICY FOR SENIOR STAFF
Page 5
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
Structure, governance and management (continued)
e. RELATED PARTY RELATIONSHIPS
A summary of transactions with this party is set out in note 20 to the financial statements.
f. RISK MANAGEMENT
The Trustees have assessed the major risks to which the Group and the Company are exposed, in particular those related to the operations and finances of the Group and the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Plans for future periods
The charity's plans for the future are consistent with the objectives identified within this report. The charity will continue to support and fund projects and activities in line with the objectives as the Trustees see fit. The ongoing hostilities between Israel and Gaza will necessitate further contributions to assist the wounded soldiers and their families as well as lone soldiers who have been serving in the war.
TRUSTEES' RESPONSIBILITIES STATEMENT
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 charitable group'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 charitable group's auditors are aware of that information.
Page 6
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
AUDITORS
The auditors, Wilder Coe Ltd, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on
Page 7
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
We have audited the financial statements of UK Friends of the Association for the Wellbeing of Israel's Soldiers (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended
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 Group 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.
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 Group's or the parent 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.
Page 8
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (CONTINUED)
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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Trustees' Report has been prepared in accordance with applicable legal requirements.
In the light of our 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 Trustees' Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
∙the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
∙the parent charitable company 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 prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
Page 9
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (CONTINUED)
As explained more fully in the Trustees' Responsibilities Statement, 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.
Page 10
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (CONTINUED)
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:
Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity. The following laws and regulations were identified as being of significance to the entity:
∙Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law and Charity Law.
∙Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence and the performance of analytical review 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 Auditors' Report.
Page 11
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (CONTINUED)
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, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants & Statutory Auditors
1st Floor Sackville House
143-149 Fenchurch Street
London
EC3M 6BL
Date:
Page 12
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Page 13
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Page 14
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
REGISTERED NUMBER: 04094203
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2024
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on
Page 15
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
REGISTERED NUMBER: 04094203
COMPANY BALANCE SHEET
AS AT 31 MARCH 2024
The Company's net movement in funds for the year was £(
The financial statements were approved and authorised for issue by the Trustees on 15 January 2025 and signed on their behalf by:
Page 16
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
Page 17
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
UK Friends of the Association for the Wellbeing of Israel's Soldiers (company number: 04094203, charity number: 1084272), having its registered office at 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL and its trading address at Unit 7, 56b Crewys Road, London, NW2 2AD, is a charitable company limited by guarantee incorporated in England and Wales.
2.ACCOUNTING POLICIES
The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.
The SOFA of the company shows a net deficit of £16,406 (2023: £225,907).
The Company is a company limited by guarantee. the members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.
Page 18
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.ACCOUNTING POLICIES (CONTINUED)
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent assets and disclosed if material.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
Page 19
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.ACCOUNTING POLICIES (CONTINUED)
All assets costing more than £100 are capitalised.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the Balance Sheet date.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the Bank.
Page 20
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.ACCOUNTING POLICIES (CONTINUED)
Page 21
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page 22
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page 23
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page 24
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page 25
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page 26
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
The following was a subsidiary undertaking of the Company:
The financial results of the subsidiary for the year were:
Page 27
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page 28
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page 29
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
As at 31 March 2024 and 31 March 2023, there was no single ultimate controlling party of the charity.
Page 30
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|