COMPANY REGISTRATION NUMBER: 03088098 CHARITY REGISTRATION NUMBER: 1054039
MEADOWGOLD LIMITED Company Limited by Guarantee Unaudited Financial Statements 30 September 2024
HAROLD EVERETT WREFORD LLP
Chartered accountants Hallswelle House
1 Hallswelle Road
London England NW11 0DH
MEADOWGOLD LIMITED
Company Limited by Guarantee
Financial Statements
Year ended 30 September 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
MEADOWGOLD LIMITED
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 September 2024
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 30 September 2024.
Reference and administrative details
Registered charity name
MEADOWGOLD LIMITED
Charity registration number 1054039 Company registration number 03088098 Principal office and registered Hallswell House office 1 Hallswelle Road London NW11 0HU
The trustees
Mrs. G. Wiesenfeld Mr. M. Wiesenfeld A Wiesenfeld
Company secretary Mrs. G Wiesenfeld Independent examiner PHILLIP SMULOVITCH
Structure, governance and management
The charity is a company limited by guarantee and is therefore governed by its Memorandum and Articles of Association. The result for the year and the financial position at the year end were considered satisfactory by the trustees and directors and achieved the targets set by the trustees and the directors at the beginning of the year. The trustees, who are also the directors for the purpose of the company law, who served during the year were:
Mr. M. Wiesenfeld
Mrs. G. Wiesenfeld
The Board has the power to appoint additional trustees as it considers fit. None of the trustees and directors have any beneficial interest in the company. All the trustees and directors are members of the company and guarantee to contribute £1 in the event of winding up. The charity is organised so that its three trustees and directors meet regularly to manage its affairs. Mr M. Wiesenfeld has been appointed by the trustees and the directors to manage the day to day operation of the charity. To facilitate operations he has delegated authority, approved by the trustees and directors, for operational matters including dealing with the financial affairs of the charity.
The income and property of the charity shall be applied solely towards the promotion of the objects of the charity as specified in the Memorandum and Articles of Association. There are no other restrictions imposed by the governing document concerning the way the charity can operate other than that operations must be for the furtherance of the charity's objects. The charity is a company limited by guarantee and is therefore governed by its Memorandum and Articles of Association. The result for the year and the financial position at the year end were considered satisfactory by the trustees and directors and achieved the targets set by the trustees and the directors at the beginning of the year.
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MEADOWGOLD LIMITED
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2024
Objectives and activities
The charity's objects and its principal activity continues to be that of advancement of religion in accordance with the Jewish Faith and the relief of needy persons. The policy adopted in furtherance of these objects is to distribute the funds as and when the trustees and directors see fit to these worthy causes and there has been no change in this during the year.
During the year the charity has continued to donate to those causes it considers worthy and in accordance with its charitable objectives. The charity has also maintained its incoming resources from rental income received from investment properties held.The charity has no plans for any significant developments in the future. The charity made donations of £207,747 (2023 - £181,501) during the year. The trustees' and directors' policy is to build their assets to a level whereby the trust income from their assets can be maximised and accrued in a regular, sustainable and increasing level in order to be able to apply all this income for the requirements of the objects of the charity. Grants payable are paid to charities specifically which deal with advancement of religion in accordance with the Jewish Faith and the relief of needy persons.
PUBLIC BENEFIT
The governors have considered the guidance published by the Charity Commission and believe that the charity in carrying out its objectives, fully complies with these requirements. In particular the provision of funding for education in accordance with the principles of traditional Judaism and the support of associated communal charitable institutions such as synagogues and homes for the elderly and infirm automatically gives rise to a public benefit. Each year the governors review the objectives and activities of the charity to ensure that they continue to reflect these aims. In carrying out this review the governors have considered the Charity Commission's general guidance on on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.
RISK MANAGEMENT
The Governors have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate such risks.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
The charity is satisfied with its overall achievements and performance during the year and has continued to meet its objectives with regard to the level of donations made during the year to worthwhile charitable causes. Each year the trustees review their objectives and actives to ensure they continue to reflect the trustees' aims. In carrying out their review the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public benefit guidance on the advancement of the Jewish Religion and all its facets for the public benefit.
Financial review
The reserve held at 30 September 2024 amounted to £1,607,995 (2023 - 1,645,978). The charity has continued to fulfill its objectives of making donations for charitable purposes for the advancement of religion in accordance with the Jewish Faith and the relief of needy persons during the year.
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MEADOWGOLD LIMITED
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2024
The trustees' annual report and the strategic report were approved on 23 December 2025 and signed on behalf of the board of trustees by:
Mr. M. Wiesenfeld Trustee
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MEADOWGOLD LIMITED
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of MEADOWGOLD LIMITED
Year ended 30 September 2024
I report to the trustees on my examination of the financial statements of MEADOWGOLD LIMITED ('the charity') for the year ended 30 September 2024.
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
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 charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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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
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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 accounts to be reached.
PHILLIP SMULOVITCH Independent Examiner
GK & Co. LLP Hallswelle House 1 Hallswelle Road London NW11 0DH
23 December 2025
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MEADOWGOLD LIMITED
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30 September 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 118,000 | 118,000 | 94,000 |
| Investment income | 6 | 76,217 | 76,217 | 78,254 |
|
|
|
||
| Total income | 194,217 | 194,217 | 172,254 | |
|
|
|
||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 7 | 207,747 | 207,747 | 181,501 |
| Expenditure on charitable activities | 8,9 | 24,453 | 24,453 | 31,253 |
|
|
|
||
| Total expenditure | 232,200 | 232,200 | 212,754 | |
|
|
|
||
|
|
|
||
| Net expenditure and net movement in funds | (37,983) | (37,983) | (40,500) | |
|
|
|
||
| Reconciliation of funds | ||||
| Total funds brought forward | 1,645,978 | 1,645,978 | 1,686,478 | |
|
|
|
||
| Total funds carried forward | 1,607,995 |
1,607,995 |
1,645,978 |
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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MEADOWGOLD LIMITED
Company Limited by Guarantee
Statement of Financial Position
30 September 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 13 | 1,500,000 | 1,500,000 | |
| Current assets | ||||
| Debtors | 14 | 46,179 | 50,455 | |
| Cash at bank and in hand | 88,445 | 132,159 | ||
|
|
|||
| 134,624 | 182,614 | |||
| Creditors:amounts falling due within one year | 15 | 26,629 | 36,636 | |
|
|
|||
| Net current assets | 107,995 | 145,978 | ||
|
|
|||
| Total assets less current liabilities | 1,607,995 | 1,645,978 | ||
|
|
|||
| Funds of the charity | ||||
| Unrestricted funds: | ||||
| Revaluation reserve | (594,633) | (594,633) | ||
| Other unrestricted income funds | 2,202,628 | 2,240,611 | ||
|
|
|||
| Total unrestricted funds | 1,607,995 | 1,645,978 | ||
|
|
|||
| Total charity funds | 16 | 1,607,995 |
1,645,978 |
For the year ending 30 September 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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;
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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 23 December 2025, and are signed on behalf of the board by:
Mr. M. Wiesenfeld Trustee
The notes on pages 7 to 11 form part of these financial statements.
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MEADOWGOLD LIMITED
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 September 2024
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 Hallswell House, 1 Hallswelle Road, London, NW11 0HU.
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 requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
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MEADOWGOLD LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are 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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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.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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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.
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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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
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MEADOWGOLD LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2024
3. Accounting policies (continued)
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
None of the trustees and directors have any beneficial interest in the company. All the trustees and directors are members of the company and guarantee to contribute £1 in the event of winding up.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 118,000 | 118,000 | 94,000 | 94,000 | |
|
|
|
|
||
| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Income from investment properties | 76,217 | 76,217 | 78,254 | 78,254 | |
|
|
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| 7. | Costs of raising donations and legacies | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Costs of raising donations and legacies - | |||||
| Donations | 207,747 | 207,747 | 181,501 | 181,501 | |
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| 8. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Support costs | 24,453 | 24,453 | 31,253 | 31,253 | |
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MEADOWGOLD LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2024
9. Expenditure on charitable activities by activity type
| Total funds | ||||
|---|---|---|---|---|
| Support costs | 2024 Total fund 2023 | |||
| £ | £ | £ | ||
| Governance costs | 24,453 | 24,453 | 31,253 | |
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| 10. | Independent examination fees | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 3,400 |
3,400 |
11. Staff costs
No salaries or wages have been paid to employees, including the members of the committee, during the year.
12. Trustee remuneration and expenses
No remuneration or other benefits form employment with the charity or a related entity were received by the trustees.
13. Tangible fixed assets
| Leasehold | |||
|---|---|---|---|
| Property | |||
| £ | |||
| Cost and revaluations | |||
| At 1 October 2023 and 30 September 2024 | 1,500,000 | ||
|
|||
| Depreciation | |||
| At 1 October 2023 and 30 September 2024 | – | ||
|
|||
| Carrying amount | |||
| At 30 September 2024 | 1,500,000 | ||
|
|||
| At 30 September 2023 | 1,500,000 | ||
|
|||
| The company's investment properties were revalued by the trustees at open market value. | |||
| 14. | Debtors | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Other debtors | 46,179 | 50,455 | |
|
|
||
| 15. | Creditors: amounts falling due within one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans and overdrafts | 14,486 | 22,490 | |
| Other creditors | 12,143 | 14,146 | |
|
|
||
| 26,629 | 36,636 | ||
|
|
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MEADOWGOLD LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2024
16. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At | 30 September 20 | |||
| 1 October 2023 | Income | Expenditure | 24 | |
| £ | £ | £ | £ | |
| General funds | 2,240,611 | 194,217 | (232,200) | 2,202,628 |
| Revaluation reserve | (594,633) | – | – | (594,633) |
|
|
|
|
|
| 1,645,978 | 194,217 | (232,200) | 1,607,995 | |
|
|
|
|
|
| At | ||||
| At | 30 | September 20 | ||
| 1 October 2022 | Income | Expenditure | 23 | |
| £ | £ | £ | £ | |
| General funds | 2,281,111 | 172,254 | (212,754) | 2,240,611 |
| Revaluation reserve | (594,633) | – | – | (594,633) |
|
|
|
|
|
| 1,686,478 | 172,254 | (212,754) | 1,645,978 | |
|
|
|
|
|
| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2024 | |||
| £ | £ | |||
| Tangible fixed assets | 1,500,000 | 1,500,000 | ||
| Current assets | 134,624 | 134,624 | ||
| Creditors less than 1 year | (26,629) | (26,629) | ||
|
|
|||
| Net assets | 1,607,995 | 1,607,995 | ||
|
|
|||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Tangible fixed assets | 1,500,000 | 1,500,000 | ||
| Current assets | 182,614 | 182,614 | ||
| Creditors less than 1 year | (36,636) | (36,636) | ||
|
|
|||
| Net assets | 1,645,978 |
1,645,978 |
17. Analysis of net assets between funds
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