| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| EZER BEKOVOID LIMITED |
| (A COMPANY LIMITED BY GUARANTEE) |
| REPORT OF THE TRUSTEES AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| EZER BEKOVOID LIMITED |
| (A COMPANY LIMITED BY GUARANTEE) |
| REPORT OF THE TRUSTEES AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| EZER BEKOVOID LIMITED |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| Page |
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 | to | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 | to | 6 |
| Cash Flow Statement | 7 |
| Notes to the Cash Flow Statement | 8 |
| Notes to the Financial Statements | 9 | to | 14 |
| EZER BEKOVOID LIMITED |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| TRUSTEES |
| REGISTERED OFFICE |
| REGISTERED COMPANY NUMBER |
| REGISTERED CHARITY NUMBER |
| BANKERS |
| London |
| EC2N 1HQ |
| EZER BEKOVOID LIMITED (REGISTERED NUMBER: 07330341) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 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 31 October 2024. 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). |
| Reference and administrative information |
| Reference and administrative information is shown on page 1 of the financial statements and forms part of this report. |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims for public benefit |
| The objects of the charity are the advancement of the Orthodox Jewish Faith, advancement of education, relief of poverty and such other purposes as are recognised by English Law as charitable. |
| The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives. The charity carries out its objects by grantmaking. |
| Grant making policy |
| All applications to the charity for grants are considered carefully by the trustees at regular meetings. On most occasions, if the trustees feel that the application meets their approval in principle, they will meet applicants face to face and discuss with them details of the application. The trustees usually then have a further meeting before making a decision as to whether assistance should be granted, and if so, to what level. All grants must be approved by the unanimous agreement of the Trustees. |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| The charity receives its income from donations. There was a 48% increase in donations although the trustees reduced grantmaking by 18%. The main grant recipients were the Keser Malchus Girls' School and Bachatzros Kodshecho Boys' School. Grants were also provided to individuals who found themselves in particular financial hardship. |
| FINANCIAL REVIEW |
| Reserves policy |
| The trustees do not seek to maintain significant levels of reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £431,400 (2023 - £724,785). |
| FUTURE PLANS |
| The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 29 July 2010. |
| Organisational structure |
| The day to day affairs of the charity are administered by the trustees. The power to appoint new trustees is vested in the trustees. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures. |
| Risk management |
| The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them. |
| EZER BEKOVOID LIMITED (REGISTERED NUMBER: 07330341) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| Approved by order of the board of trustees on |
| EZER BEKOVOID LIMITED |
| STATEMENT OF FINANCIAL ACTIVITIES |
| (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 2024 | 2023 |
| Unrestricted | Total |
| funds | funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies | 2 |
| Investment income | 3 |
| Total |
| EXPENDITURE ON |
| Raising funds | 4 |
| Charitable activities | 5 |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 724,785 |
| CONTINUING OPERATIONS |
| The statement of financial activities includes all gains and losses arising in the year. |
| All income and expenditure has arisen from continuing activities. |
| EZER BEKOVOID LIMITED (REGISTERED NUMBER: 07330341) |
| BALANCE SHEET |
| 31 OCTOBER 2024 |
| 2024 | 2023 |
| Total | Total |
| funds | funds |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 11 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 12 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 13 | ( |
) | ( |
) |
| NET ASSETS/(LIABILITIES) |
| FUNDS | 15 |
| Unrestricted funds: |
| General fund | 431,400 | 724,785 |
| TOTAL FUNDS | 724,785 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| EZER BEKOVOID LIMITED (REGISTERED NUMBER: 07330341) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2024 |
| 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 |
| EZER BEKOVOID LIMITED |
| CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | 8,532 | 19,096 |
| Interest paid | (18,018 | ) | (29,377 | ) |
| Net cash used in operating activities | (9,486 | ) | (10,281 | ) |
| Cash flows from investing activities |
| Interest received | - | 46 |
| Net cash provided by investing activities | - | 46 |
| Change in cash and cash equivalents in the reporting period |
(9,486 |
) |
(10,235 |
) |
| Cash and cash equivalents at the beginning of the reporting period |
2 |
40,041 |
50,276 |
| Cash and cash equivalents at the end of the reporting period |
2 |
30,555 |
40,041 |
| EZER BEKOVOID LIMITED |
| NOTES TO THE CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 1. | RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
| 2024 | 2023 |
| £ | £ |
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) |
(293,385 |
) |
703,431 |
| Adjustments for: |
| Interest received | - | (46 | ) |
| Interest paid | 18,018 | 29,377 |
| Increase in debtors | - | (810,000 | ) |
| Increase in creditors | 283,899 | 96,334 |
| Net cash provided by operations | 8,532 | 19,096 |
| 2. | ANALYSIS OF CASH AND CASH EQUIVALENTS |
| 2024 | 2023 |
| £ | £ |
| Notice deposits (less than 3 months) | 34,989 | 44,546 |
| Overdrafts included in bank loans and overdrafts falling due within one year |
(4,434 |
) |
(4,505 |
) |
| Total cash and cash equivalents | 30,555 | 40,041 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.11.23 | Cash flow | At 31.10.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank | 44,546 | (9,557 | ) | 34,989 |
| Bank overdraft | (4,505 | ) | 71 | (4,434 | ) |
| 40,041 | (9,486 | ) | 30,555 |
| Total | 40,041 | (9,486 | ) | 30,555 |
| EZER BEKOVOID LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 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. |
| Support costs are those incurred to assist the work of the charity but are not direct charitable activities. |
| Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Financial instruments |
| The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. |
| Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. |
| Current assets and current liabilities are subsequently measured at the amount expected to be received or paid and not discounted. |
| Going Concern |
| There are no material uncertainties about the charity's ability to continue. |
| EZER BEKOVOID LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 2. | DONATIONS AND LEGACIES |
| 2024 | 2023 |
| Unrestricted | Total |
| funds | funds |
| £ | £ |
| Donations |
| 3. | INVESTMENT INCOME |
| 2024 | 2023 |
| Unrestricted | Total |
| funds | funds |
| £ | £ |
| Deposit account interest |
| 4. | RAISING FUNDS |
| Raising donations and legacies |
| 2024 | 2023 |
| Unrestricted | Total |
| funds | funds |
| £ | £ |
| Fundraising costs |
| Office expenses |
| Travelling expenses |
| Printing, postage and advertising | 828 | 2,084 |
| 1,702 | 8,151 |
| 5. | CHARITABLE ACTIVITIES COSTS |
| Grant |
| funding of |
| activities | Support |
| (see note | costs (see |
| 6) | note 7) | Totals |
| £ | £ | £ |
| Grantmaking | 1,192,745 | - | 1,192,745 |
| Support | - | 24,079 | 24,079 |
| 1,192,745 | 24,079 | 1,216,824 |
| 6. | GRANTS PAYABLE |
| 2024 | 2023 |
| £ | £ |
| Grantmaking | 1,192,745 | 1,006,326 |
| The total grants paid to institutions during the year was as follows: |
| 2024 | 2023 |
| £ | £ |
| Advancement of education | 511,270 | 241,077 |
| Relief of poverty | 47,025 | 13,380 |
| Advancement of religion | 615,620 | 708,051 |
| EZER BEKOVOID LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 6. | GRANTS PAYABLE - continued |
| Bechatzros Kodshecho | 615,620 |
| Keter Malchus | 510,880 |
| Amud Hatzdoko Trust | 47,025 |
| Others | 390 |
| 1,173,915 |
| The total grants paid to individuals during the year was as follows: |
| 2024 | 2023 |
| £ | £ |
| Relief of poverty | 18,830 | 42,740 |
| Medical | - | 1,078 |
| 7. | SUPPORT COSTS |
| Governance |
| Management | Finance | costs | Totals |
| £ | £ | £ | £ |
| Support | 541 | 19,344 | 4,194 | 24,079 |
| Support costs, included in the above, are as follows: |
| 2024 | 2023 |
| Total |
| Support | activities |
| £ | £ |
| Telephone | 512 | 996 |
| Sundries | 29 | 7 |
| Bank charges | 1,326 | 1,250 |
| Interest payable and similar charges | 18,018 | 29,377 |
| Auditors' remuneration | - | 3,480 |
| Auditors' remuneration for non audit work |
- |
3,720 |
| Independent examiner's fee | 1,920 | - |
| Independent examiner's other fees | 1,920 | - |
| General expenses | 354 | 755 |
| 24,079 | 39,585 |
| EZER BEKOVOID LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 8. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 2024 | 2023 |
| £ | £ |
| Auditors' remuneration | - | 3,480 |
| Auditors' remuneration for non audit work | - | 3,720 |
| 9. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 October 2024 nor for the year ended 31 October 2023. |
| 10. | AVERAGE STAFF NUMBERS |
| The average number of staff in the year was Nil (2023 - Nil) |
| 11. | DEBTORS |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year: |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| Other debtors falling due after more than one year comprise secured charitable loans made to Keser Malchus, a girls' school located in Israel. |
| EZER BEKOVOID LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts (see note 14) |
| Other creditors |
| Accruals and deferred income |
| 13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other creditors |
| 14. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year on demand: |
| Bank overdrafts |
| 15. | MOVEMENT IN FUNDS |
| Net |
| At | movement | At |
| 1.11.23 | in funds | 31.10.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 724,785 | (293,385 | ) | 431,400 |
| TOTAL FUNDS | (293,385 | ) | 431,400 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 925,141 | (1,218,526 | ) | (293,385 | ) |
| TOTAL FUNDS | ( |
) | (293,385 | ) |
| EZER BEKOVOID LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 15. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
| Net |
| At | movement | At |
| 1.11.22 | in funds | 31.10.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 21,354 | 703,431 | 724,785 |
| TOTAL FUNDS | 21,354 | 703,431 | 724,785 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 1,757,493 | (1,054,062 | ) | 703,431 |
| TOTAL FUNDS | 1,757,493 | (1,054,062 | ) | 703,431 |
| 16. | RELATED PARTY DISCLOSURES |
| Other debtors of £2,728,640 (2023 - £2,728,640), other payments of £18,018 (2023- £29,377) and other creditors amounting to £1,689,226 (2023 - £1,433,748) are due to companies of which certain trustees of this charity have significant influence. |