Yesbe Limited - Charities report

Page

Reference and Administrative Details

Report of the Trustees

Report of the Independent Auditors

Statement of Financial Activities

Balance Sheet

Notes to the Financial Statements

TRUSTEES

Y Z Benedikt

Y N Benedikt (resigned 24.3.26)

Y S Benedikt

M Benedikt (resigned 24.3.26)

C Benedikt

J Masar (resigned 24.3.26)

M Z Kohn

COMPANY SECRETARY

E Benedikt

REGISTERED OFFICE

First Floor

94 Stamford Hill

London

N16 6XS

PRINCIPAL ADDRESS

Suite 7

Broadhurst House

Bury Old Road

Salford

M7 4QX

REGISTERED COMPANY

NUMBER

03161919 (England and Wales)

REGISTERED CHARITY

NUMBER

1058128

AUDITORS

Sugarwhite Meyer Accountants Ltd

First Floor

94 Stamford Hill

London

N16 6XS

BANKERS

Barclays Bank PLC

93 Baker Street

London

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 July 2025. 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 DETAILS

The information is shown on page 1 of the financial statements and forms part of this report.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the charity are the promotion and advancement of religion in accordance with the Orthodox Jewish faith and the relief of poverty, suffering and distress among members of the Orthodox Jewish faith.

The trustees confirm that they have given due regard to the Charity Commission's guidance on public benefit.

Grant making policy

In general, the trustees select the institutions to be supported according to their personal knowledge of work of the institution. All applications are carefully considered, discreetly and with sympathy and help is given according to circumstances and funds then available.

Grants are made to various institutions which accord with the charity's objects. These grants are regularly monitored to ensure compliance with the objects of the charity.

ACHIEVEMENTS AND PERFORMANCE

Achievement and performance

The trustees are pleased with the results for the year. The charity received £330,200 of interest income (2024: 201,421) which represents an increase of 64% in comparison with last year. This has provided the charity with a strong income stream which is used in furtherance of the charity's objectives.

During the year the charity continued its philanthropic activities and maintained support of organisations engaging in education, advancement of religion, and the relief of poverty.

Grantmaking in the year was 10% higher than in the previous year.

FINANCIAL REVIEW

Reserves policy

The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end stood at £5,152,081 (2024: £5,407,814), of which £10,800 (2024: £324,810) were free reserves.

FUTURE PLANS

It is anticipated, subject to satisfactory income, that the charity will continue to support charitable purposes and institutions in accordance with its objects.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Charity constitution

The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 20 February 1996.

Recruitment and appointment of new trustees

It is not the intention of the trustees 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.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Yesbe 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".

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 Charities 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, Sugarwhite Meyer Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

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 13 May 2026 and signed on its behalf by:

Y Z Benedikt - Trustee

Opinion

We have audited the financial statements of Yesbe Limited (the 'charitable company') for the year ended 31 July 2025 which comprise the Statement of Financial Activities, the Balance Sheet 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 31 July 2025 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.

The corresponding figures for the prior year are unaudited as an audit was not required by any Act, nor by the Trustees.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In performing an audit, we exercise professional judgment and maintain professional scepticism throughout the audit.

We also identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. The risk of not detecting a material misstatement resulting from fraud is higher than one for one resulting from error, as fraud may involve collusion, forgery, intentional omissions misrepresentation or override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of charity's internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements

Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about charity's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

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.

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.

Emanuel Meyer FCA BSc (Senior Statutory Auditor)

for and on behalf of Sugarwhite Meyer Accountants Ltd

First Floor

94 Stamford Hill

London

N16 6XS

13 May 2026

2025

2024

Unrestricted

Total

fund

funds

Notes

INCOME AND ENDOWMENTS FROM

Investment income

330,200

201,421

EXPENDITURE ON

Charitable activities

585,933

527,385

NET INCOME/(EXPENDITURE)

(255,733

)

(325,964

)

RECONCILIATION OF FUNDS

Total funds brought forward

5,407,814

5,733,778

TOTAL FUNDS CARRIED FORWARD

5,152,081

5,407,814

2025

2024

Total

funds

Notes

CURRENT ASSETS

Debtors

5,141,281

5,083,004

Cash at bank

21,896

339,950

5,163,177

5,422,954

CREDITORS

Amounts falling due within one year

(11,096

)

(15,140

)

NET CURRENT ASSETS

5,152,081

5,407,814

TOTAL ASSETS LESS CURRENT

LIABILITIES

5,152,081

5,407,814

NET ASSETS

5,152,081

5,407,814

FUNDS

Unrestricted funds:

General fund

5,152,081

5,407,814

TOTAL FUNDS

5,152,081

5,407,814

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 13 May 2026 and were signed on its behalf by:

Y Z Benedikt - Trustee

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

The following specific policies are applied to particular categories of income:

Income received by way of donations is accounted for when received.

Income from investments is included in the year in which it is receivable.

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.

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.

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.

Going concern

There are no material uncertainties about the charity's ability to continue as a going concern.

2.	INVESTMENT INCOME

2025

2024

Unrestricted

Total

funds

Deposit account interest

4,745

52,055

Loan interest receivable

325,455

149,366

330,200

201,421

3.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

Support

(see note

costs (see

note 5)

Totals

Charitable activities

579,695

6,238

585,933

4.	GRANTS PAYABLE

2025

2024

Charitable activities

579,695

520,100

The total grants paid to institutions during the year was as follows:

2025

2024

Advancement of religion

300,125

392,850

Advancement of education

178,320

39,050

Relief of poverty

40,250

67,500

Medical

500

General purpose

45,500

18,000

Social welfare

15,500

2,200

579,695

520,100

Achisomoch Aid Company Ltd

231,700

The Yeshivas Ohel Shimon Trust

44,400

Tomchai Torah B'am Yisroel (T.T.B.Y.)

38,500

Sayser Developments Ltd

31,000

Others below £20,000

234,095

579,695

5.	SUPPORT COSTS

Governance

Finance

costs

Totals

Charitable activities

201

6,037

6,238

Support costs, included in the above, are as follows:

Finance

2025

2024

Charitable

Total

activities

Bank charges

201

116

Governance costs

2025

2024

Charitable

Total

activities

Auditors' remuneration

3,600

Auditors' remuneration for non audit

work

1,800

Fees waived

(1,200

)

Independent examiner's fee

1,080

Independent examiner's other fees

3,000

General expenses

637

731

Legal and professional fees

3,558

6,037

7,169

6.	NET INCOME/(EXPENDITURE)

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

2025

2024

Auditors' remuneration

3,600

Auditors' remuneration for non audit work

1,800

Fees waived

(1,200

)

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2025 nor for the year ended 31 July 2024.

8.	STAFF COSTS

The average number of staff in the year was NIL (2024: NIL).

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

Other debtors

5,141,281

5,083,004

Others debtors of £5,141,281 (2024: £5,058,504) represent amounts owing to the charity by connected companies, these loans are interest bearing at a rate of 6.25%. See Note 12 for further detail.

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

Other creditors

Accruals and deferred income

11,096

15,121

11,096

15,140

11.	MOVEMENT IN FUNDS

Net

movement

At 1.8.24

in funds

31.7.25

Unrestricted funds

General fund

5,407,814

(255,733

)

5,152,081

TOTAL FUNDS

5,407,814

(255,733

)

5,152,081

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

Incoming

Resources

Movement

resources

expended

in funds

Unrestricted funds

General fund

330,200

(585,933

)

(255,733

)

TOTAL FUNDS

330,200

(585,933

)

(255,733

)

Comparatives for movement in funds

Net

movement

At 1.8.23

in funds

31.7.24

Unrestricted funds

General fund

5,733,778

(325,964

)

5,407,814

TOTAL FUNDS

5,733,778

(325,964

)

5,407,814

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

Incoming

Resources

Movement

resources

expended

in funds

Unrestricted funds

General fund

201,421

(527,385

)

(325,964

)

TOTAL FUNDS

201,421

(527,385

)

(325,964

)

12.	RELATED PARTY DISCLOSURES

Included in other debtors are the following balances in respect of loans made to connected companies:

A loan of £1,800,492 including accrued interest (2024: 1,758,096) to Pinlee Investments Ltd, a company with Trustees/Directors in common, the loan bears interest at 6.25% p.a.

A loan of £3,340,808 including accrued interest (2024: 3,445,212) to Calvert Estates Ltd, a company with a Trustee/Director in common, the loan bears interest at 6.25% p.a.