Charity registration number 1087196
Company registration number 03039128 (England and Wales)
YAD VOEZER DAY CENTRE LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
YAD VOEZER DAY CENTRE LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Rabbi S Singer
Mr R Spitzer
Rabbi J Springer
Secretary
Mrs Z Landau
Charity number
1087196
Company number
03039128
Registered office
9 Amhurst Park
London
England
N16 5DH
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
YAD VOEZER DAY CENTRE LTD
CONTENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5 - 6
Notes to the financial statements
7 - 15
YAD VOEZER DAY CENTRE LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

The charity's objects are to support people in need, by reason of learning disabilities and associated mental health issues, ill health, disabilities, financial hardship or other disadvantage. The charity does this by providing, in particular but not exclusively, education, training, workshops, activities, and all other necessary support, in each case designed to enable individuals to live in dignity, reach their true potential and live as independently as possible.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

In the year under review the charity generated income of £326,630 (2023: £216,815) and incurred expenses of £312,426 (2023: £113,703) resulting in net incoming resources of £14,204.

Financial review

The total funds at the year end was £3,284,271, of which £85,706 are free reserves and £23,712 were restricted funds.

The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of

the charity.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee and is governed by its Memorandum and Articles of association dated 29 March 1995 as amended by special resolutions.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Rabbi S Singer
Mr R Spitzer
Rabbi J Springer

The power to appoint new trustees is vested in the board. New trustees are appointed based on personal competence, specialist skills and experience. They are inducted into the working of the charity by the current board and are given, in the view of the board, sufficient training to understand the nature of the charity and its working. They are also encouraged to read the Charity Commission's various publications on trustees duties.

 

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

YAD VOEZER DAY CENTRE LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

The trustees' report was approved by the Board of Trustees.

..............................
Rabbi S Singer
Trustee
Date: .............................................
2025-01-31
YAD VOEZER DAY CENTRE LTD
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF YAD VOEZER DAY CENTRE LTD
- 3 -

I report to the trustees on my examination of the financial statements of Yad Voezer Day Centre Ltd (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (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 financial statements of the charity 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.

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 that in any material respect:

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 financial statements to be reached.

Mr J Silver FCCA

Precision Ltd

32 Castlewood Road

N16 6DW

Dated: .........................
YAD VOEZER DAY CENTRE LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
3,150
46,153
49,303
9,000
3,000
12,000
Charitable activities
4
206,001
-
206,001
101,211
-
101,211
Other trading activities
5
70,233
-
70,233
103,000
-
103,000
Investments
6
1,093
-
1,093
604
-
604
Total income
280,477
46,153
326,630
213,815
3,000
216,815
Expenditure on:
Charitable activities
7
294,425
18,001
312,426
113,703
-
113,703
Net (outgoing)/incoming resources before transfers
(13,948)
28,152
14,204
100,112
3,000
103,112
Gross transfers between funds
9,940
(9,940)
-
-
-
-
Net (expenditure)/income for the year/
Net movement in funds
(4,008)
18,212
14,204
100,112
3,000
103,112
Fund balances at 1 April 2023
3,264,567
5,500
3,270,067
3,164,455
2,500
3,166,955
Fund balances at 31 March 2024
3,260,559
23,712
3,284,271
3,264,567
5,500
3,270,067

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
YAD VOEZER DAY CENTRE LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
13,010
7,406
Investment property
13
3,343,427
3,343,427
3,356,437
3,350,833
Current assets
Debtors
14
186,213
50,206
Cash at bank and in hand
27,550
91,504
213,763
141,710
Creditors: amounts falling due within one year
16
(128,057)
(49,493)
Net current assets
85,706
92,217
Total assets less current liabilities
3,442,143
3,443,050
Creditors: amounts falling due after more than one year
17
(157,872)
(172,983)
Net assets
3,284,271
3,270,067
Income funds
Restricted funds
23,712
5,500
Unrestricted funds
3,260,559
3,264,567
3,284,271
3,270,067
YAD VOEZER DAY CENTRE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 6 -

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the Trustees on .........................
2025-01-31
..............................
Rabbi S Singer
Trustee
Company registration number 03039128
YAD VOEZER DAY CENTRE LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
1
Accounting policies
Charity information

Yad Voezer Day Centre Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 9 Amhurst Park, London, N16 5DH, England.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
YAD VOEZER DAY CENTRE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 8 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 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 are allocated on the portion of the asset’s use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% Reducing Balance Method
Care Equipment
25% Straight Line Method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

YAD VOEZER DAY CENTRE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 9 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

YAD VOEZER DAY CENTRE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows.

 

Property valuation

 

The valuation of the charity's investment property is subject to a degree of uncertainty, as the value depends on various factors including the nature of the property, its location and expected future net rental values, market yields and comparable market transactions and is made on the basis of assumptions which may not prove to be accurate.

 

3
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£

Grants

3,150
46,153
49,303
9,000
3,000
12,000
4
Charitable activities

Day Centre Activity Income

Day Centre Activity Income

2024
2023
£
£

Government and Local authority funding

206,001
101,211
YAD VOEZER DAY CENTRE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
5
Other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£

Rental Income

70,233
103,000
6
Investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
1,093
604
7
Charitable activities

Charitable Expenditure

Charitable Expenditure

2024
2023
£
£
Staff costs
90,815
27,958
Depreciation and impairment
4,336
2,468

Day Centre activities

144,134
57,807

Day Centre Running Costs

57,774
7,919

Interest payable

9,281
9,937
306,340
106,089
Share of governance costs (see note 8)
6,086
7,614
312,426
113,703
Analysis by fund
Unrestricted funds
294,425
113,703
Restricted funds
18,001
-
312,426
113,703
YAD VOEZER DAY CENTRE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
8
Support costs
Support costs
Governance costs
2024
2023
£
£
£
£
Accountancy
-
6,000
6,000
7,446
Legal and professional
-
-
-
60

Bank charges

-
86
86
108
-
6,086
6,086
7,614
Analysed between
Charitable activities
-
6,086
6,086
7,614

Governance costs includes payments to the independent examiners of £6,086 (2023: £7,446).

9
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
8
3
Employment costs
2024
2023
£
£
Wages and salaries
87,612
26,988
Social security costs
2,941
970
Other pension costs
262
-
90,815
27,958
There were no employees whose annual remuneration was more than £60,000.
11
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

YAD VOEZER DAY CENTRE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
12
Tangible fixed assets
Fixtures and fittings
Care Equipment
Total
£
£
£
Cost
At 1 April 2023
72,697
12,143
84,840
Additions
9,940
-
9,940
At 31 March 2024
82,637
12,143
94,780
Depreciation and impairment
At 1 April 2023
65,291
12,143
77,434
Depreciation charged in the year
4,336
-
4,336
At 31 March 2024
69,627
12,143
81,770
Carrying amount
At 31 March 2024
13,010
-
13,010
At 31 March 2023
7,406
-
7,406

 

13
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
3,343,427

The fair value of the investment property is determined by the trustees based on their understanding of the property market and the specific property concerned, derived from recent comparable transactions on the market .

 

14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
17
17
Other debtors
186,196
50,189
186,213
50,206

Other debtors includes an amount due to Yad Voezer Limited. Yad Voezer Limited, is a related party having the same trustees/directors.

YAD VOEZER DAY CENTRE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 14 -
15
Loans and overdrafts
2024
2023
£
£
Bank overdrafts
-
3,360
Bank loans
179,799
201,726
179,799
205,086
Payable within one year
21,927
32,103
Payable after one year
157,872
172,983

The mortgage loans are secured by a first charge over the organisation's properties and a floating charge over the assets of the organisation, and bear interest at variable rates.

There are cross guarantees between Yad Voezer Day Centre Limited and Yad Voezer Limited in respect of bank loans.

16
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans and overdrafts
15
21,927
32,103
Other taxation and social security
676
-
Trade creditors
13,664
3,489
Other creditors
71,889
-
Accruals and deferred income
19,901
13,901
128,057
49,493

 

17
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
15
157,872
172,983
YAD VOEZER DAY CENTRE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 15 -
18
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Fund balances at 31 March 2024 are represented by:
Tangible assets
13,010
-
13,010
7,406
-
7,406
Investment properties
3,343,427
-
3,343,427
3,343,427
-
3,343,427
Current assets/(liabilities)
61,994
23,712
85,706
86,717
5,500
92,217
Long term liabilities
(157,872)
-
(157,872)
(172,983)
-
(172,983)
3,260,559
23,712
3,284,271
3,264,567
5,500
3,270,067
19
Related party transactions

There were no disclosable related party transactions during the year, other than disclosed in note 14.

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