REGISTERED COMPANY NUMBER: 02863657 (England and Wales) REGISTERED CHARITY NUMBER: 1047427
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
FOR
GROVEPALM LIMITED
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
GROVEPALM LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 7 |
GROVEPALM LIMITED (REGISTERED NUMBER: 02863657)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025
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 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).
OBJECTIVES AND ACTIVITIES
Objectives and activities
The charity’s principal objectives throughout the year were the advancement of the Orthodox Jewish religion and religious education, the relief of poverty and sickness, and the furtherance of such other purposes as are charitable under English law.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
During the year, the charity received income of £156,166 and awarded grants of £155,793 to charitable institutions, meaning that substantially all income received during the year was applied directly towards grant-making. A further £784 was incurred in support and governance costs, resulting in total expenditure of £156,577 and net expenditure of £411 for the year.
FINANCIAL REVIEW
Financial position
At 31 October 2025, the charity held unrestricted funds of £341,855 (2024: £342,266). This represented a modest decrease of £411 during the year, reflecting the small excess of expenditure over income. The charity’s financial position remained broadly stable at the year end, with sufficient unrestricted funds available to support its ongoing charitable activities.
Reserves policy
The trustees have reviewed the charity's reserves requirements in accordance with Charity Commission guidance. The trustees consider that a minimum level of general unrestricted reserves of £25,000 is appropriate to provide sufficient working capital and to meet unforeseen expenditure.
FUTURE PLANS
The trustees intend to continue the charity’s existing activities and to further its charitable objectives as resources permit.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The charity is managed by the trustees, who meet regularly to oversee its activities and affairs. The charity has no paid employees, and its administrative functions are carried out on a voluntary basis.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
02863657 (England and Wales)
Registered Charity number
1047427
Registered office
First Floor, Winston House 349 Regents Park Road London N3 1DH
Trustees
Mr J Lipschitz Mrs F Lipschitz Mr M Twerski (resigned 28.2.25) Mrs R P Twerski (appointed 28.2.25)
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GROVEPALM LIMITED (REGISTERED NUMBER: 02863657)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025
REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary Mrs F Lipschitz
Independent Examiner
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 25 August 2026 and signed on its behalf by:
Mr J Lipschitz - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GROVEPALM LIMITED (REGISTERED NUMBER: 02863657)
Independent examiner's report to the trustees of Grovepalm Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts 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
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the accounts 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 accounts to be reached.
Danny Fine
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
25 August 2026
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GROVEPALM LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2025
| 2025 Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 156,166 EXPENDITURE ON Charitable activities Charitable activities 156,577 NET INCOME/(EXPENDITURE) (411) RECONCILIATION OF FUNDS Total funds brought forward 342,266 TOTAL FUNDS CARRIED FORWARD 341,855 |
2024 Total funds £ 809,839 822,139 (12,300) 354,566 342,266 |
|---|---|
The notes form part of these financial statements
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GROVEPALM LIMITED (REGISTERED NUMBER: 02863657)
BALANCE SHEET 31 OCTOBER 2025
| 2025 Unrestricted fund Notes £ CURRENT ASSETS Debtors 4 360,598 Cash at bank - 360,598 CREDITORS Amounts falling due within one year 5 (18,743) NET CURRENT ASSETS 341,855 TOTAL ASSETS LESS CURRENT LIABILITIES 341,855 NET ASSETS/(LIABILITIES) 341,855 FUNDS Unrestricted funds 341,855 TOTAL FUNDS 341,855 |
2024 Total funds £ 382,710 1,969 384,679 (42,413) 342,266 342,266 342,266 342,266 342,266 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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.
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 25 August 2026 and were signed on its behalf by:
Mr J Lipschitz - Trustee
The notes form part of these financial statements
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GROVEPALM LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
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.
Financial Reporting Standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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.
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.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
2. GRANTS PAYABLE
| Charitable activities | 2025 £ 155,793 |
2024 £ 821,259 |
|---|---|---|
The total grants paid to institutions during the year was £155,793 (2024 - £821,259). A summary of grants made to institutions during the year is as follows:
| Names of Institution | £ |
|---|---|
| Beis Aharon Trust | 18,963 |
| Hicholi Hakodesh | 7,975 |
| Kolel Belz Jerusalem | 4,425 |
| Kollel Machnifka Bnei Brak | 7,100 |
| Masifta | 5,000 |
| Mikvah Elad | 4,000 |
| Mosdos Strikev Jerusalem | 4,000 |
| Mosdos Yereslow Brachfeld | 4,000 |
| Machzikei Lomdei Torah | 33,000 |
| Reb Meir Bal Hanes | 4,900 |
| Reshet Hakollelim | 4,190 |
continued...
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GROVEPALM LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025
2. GRANTS PAYABLE - continued
| Shefa Tov | 4,000 |
|---|---|
| Yetev Lev Satmar | 4,500 |
| Other | 49,740 |
| Total | 155,793 |
All grants are provided to charitable institutions, are used for the benefit of the public and are in line with the objects of the charity as outlined in the trustees' report.
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2025 nor for the year ended 31 October 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2025 nor for the year ended 31 October 2024.
4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Other debtors CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors Accruals and deferred income |
2025 £ 360,598 2025 £ 35 17,928 780 18,743 |
2024 £ 382,710 2024 £ 876 40,757 780 42,413 |
6. RELATED PARTY DISCLOSURES
During the year, the charity had transactions and balances with charities and companies controlled by trustees of Grovepalm Limited. Included within debtors was £346,098 (2024: £368,210) due from related parties, while amounts due to related parties totalled £17,928 (2024: £40,757). No interest was charged or received on these balances during the year.
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