COMPANY REGISTRATION NUMBER: 02329124 CHARITY REGISTRATION NUMBER: 1013004
Realmstates Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2021
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Realmstates Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2021
| Pages | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 to 2 |
| Independent examiner's report to the trustees | 3 to 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 to 11 |
Realmstates Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
Reference and administrative details
Registered charity name Realmstates Limited Charity registration number 1013004 Company registration number 02329124 Principal office and registered 81 Bewick Road office Gateshead NE8 1RR The trustees Z Ellinson E Halberstadt S Halberstadt Independent examiner Howard Schwalbe ACA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Structure, governance and management
Realmstates Limited is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 16 December 1988 as a company and the company number is 02329124. It was registered as a charity on 16 December 1988 with a charity number 1013004.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
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Realmstates Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2021
Objectives and activities
The objectives of the charity are;
(a)The advancement of religion in accordance with the orthodox Jewish faith. (b)The relief of poverty.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to charitable institutions, organisations and individuals who accord with the objects of the charity.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
The charity intends using the donations received during the year to fund an extension for the building of the Ateres Girls High School, Gateshead.
Financial review
As at 31 March 2021 the charity held free unrestricted reserves of £509,113 (2020:£248,523)
Reserves Policy
The Unrestricted Fund represents the unrestricted funds arising from past operating results.
The trustees are satisfied that the balance of the Fund is an acceptable level of reserves. It is the charity's policy to maintain cash reserves of approximately three months of their average annual expenditure, to enable the charity to continue with its activities.
The trustees' annual report and the strategic report were approved on 7 December 2021 and signed on behalf of the board of trustees by:
S Halberstadt Trustee
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Realmstates Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Realmstates Limited
Year ended 31 March 2021
I report to the trustees on my examination of the financial statements of Realmstates Limited ('the charity') for the year ended 31 March 2021.
Responsibilities and basis of report
As the trustees of the company (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 accounts of the company 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 accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the 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 the Institute of Chartered Accountants in England and Wales (ICAEW), 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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
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
-
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).
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Realmstates Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Realmstates Limited (continued)
Year ended 31 March 2021
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 accounts to be reached.
Howard Schwalbe ACA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
7 December 2021
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Realmstates Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 261,104 | 261,104 | 262,913 |
| Investment income | 6 | 289 | 289 | 54 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 261,393 | 261,393 | 262,967 | |
| ================================ | ================================ | ================================ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 7 | – | – | 13,886 |
| Expenditure on charitable activities | 8,9 | 803 | 803 | 558 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 803 | 803 | 14,444 | |
| ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income and net movement in funds | 260,590 | 260,590 | 248,523 | |
| ================================ | ================================ | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 248,523 | 248,523 | – | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 509,113 | 509,113 | 248,523 | |
| ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 11 form part of these financial statements.
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Realmstates Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Cash at bank and in hand | 509,653 | 249,063 | |
| Creditors: amounts falling due within one year | 14 | 540 | 540 |
| -------------------------------- | -------------------------------- | ||
| Net current assets | 509,113 | 248,523 | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 509,113 | 248,523 | |
| -------------------------------- | -------------------------------- | ||
| Net assets | 509,113 | 248,523 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Unrestricted funds | 509,113 | 248,523 | |
| -------------------------------- | -------------------------------- | ||
| Total charity funds | 15 | 509,113 ================================ |
248,523 ================================ |
For the year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 7 December 2021, and are signed on behalf of the board by:
S Halberstadt Trustee
The notes on pages 7 to 11 form part of these financial statements.
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Realmstates Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 81 Bewick Road, Gateshead, NE8 1RR.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported at the year end.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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Realmstates Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Incoming resources (continued)
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by guarantee
The company is limited by guarantee, in case of winding up the liability of the members is limited to a nominal amount.
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Realmstates Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 261,104 | 261,104 | 262,913 | 262,913 | |
| ================================ | ================================ | ================================ | ================================ | ||
| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 289 | 289 | 54 | 54 | |
| ============== | ============== | ============== | ============== | ||
| 7. | Costs of raising donations and legacies | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Costs of raising donations and | |||||
| legacies - Donations | – | – | 13,886 | 13,886 | |
| ============== | ============== | ============================ | ============================ | ||
| 8. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Support costs | 803 | 803 | 558 | 558 | |
| ============== | ============== | ============== | ============== | ||
| 9. | Expenditure on charitable activities by activity type | ||||
| Support | Total funds | Total fund | |||
| costs | 2021 | 2020 | |||
| £ | £ | £ | |||
| Support Costs | 40 | 40 | – | ||
| Governance costs | 763 | 763 | 558 | ||
| -------------- | -------------- | -------------- | |||
| 803 | 803 | 558 | |||
| ============== | ============== | ============== |
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Realmstates Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
10. Analysis of support costs
| Analysis of | |||
|---|---|---|---|
| support costs | Total 2021 | Total 2020 | |
| £ | £ | £ | |
| General office | 40 | 40 | – |
| Governance costs | 540 | 540 | 540 |
| -------------- | -------------- | -------------- | |
| 580 | 580 | 540 | |
| ============== | ============== | ============== | |
| Independent examination fees | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 540 ============== |
540 ============== |
11. Independent examination fees
12. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as | follows: |
|---|---|
| 2021 | 2020 |
| £ | £ |
| Nil | Nil |
The average head count of employees during the year was Nil (2020: Nil).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
14. Creditors: amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 540 | 540 |
| ============== | ============== |
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Realmstates Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 31 March 20 | ||||
| 1 April 2020 | Income | Expenditure | 21 | ||
| £ | £ | £ | £ | ||
| General funds | 248,523 | 261,393 | (803) | 509,113 | |
| ================================ | ================================ | ============== | ================================ | ||
| At | |||||
| At | 31 March 20 | ||||
| 1 April 2019 | Income | Expenditure | 20 | ||
| £ | £ | £ | £ | ||
| General funds | – | 262,967 | (14,444) | 248,523 | |
| ============== | ================================ | ============================ | ================================ | ||
| 16. | Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2021 | ||||
| £ | £ | ||||
| Current assets | 509,653 | 509,653 | |||
| Creditors less than 1 year | (540) | (540) | |||
| -------------------------------- | -------------------------------- | ||||
| Net assets | 509,113 | 509,113 | |||
| ================================ | ================================ | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2020 | ||||
| £ | £ | ||||
| Current assets | 498,126 | 498,126 | |||
| Creditors less than 1 year | (540) | (540) | |||
| -------------------------------- | -------------------------------- | ||||
| Net assets | 497,586 | 497,586 | |||
| ================================ | ================================ |
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