Charity registration number 1054291 (England and Wales) Company reglstrallon number 02524333 COMETVILLE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
COMETVILLE LIMITED LEGALAND ADMINISTRATIVE INFORMATION Tru$teo5 Pardes House & 8eis Yaacov Primary Schools Foundation Secretary Mr A Strom Charity number 1054291 Company number 02524333 Registered office 44 Warwick Avewe Edgware Middlesex HA8 8UJ Audltor Goldwins Limited 75 Maygrove Road Wesl Hampslead London NW6 2EG Bankers Lloyds Bank PIC Huntingdon Branch 1 Legg Street Chelmsford Essex CM1 1JS
COMETVILLE LIMITED CONTENTS Page Trustees, report Statemanl of trustees, responsibilities Independènt auditorfs report Statement of financial activities Balance sheet Notes to the financial statements 9-14
COMETVILLE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JULY2024 The trustees presents its annual report and financial statements for the year ended 31 July 2024. The financial slalements have been prepared in accordapce with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Stalemenl of Recommended Pralice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019).. Objectives and activities Objectives and alms The charity was fomied for the advancement of religion in accordance with the orthodox Jewish faith and the relief of poverty. The charity is also actively involved in raising funds for general education. Publlc bènofit The Iruslees confimi their compliance with Ihe duty to have regard lo the public benefit guidance Pu1Shed by the Charity Commission when reviewing the charity's aims and objectives in planning future activities. Signiftcant activities In relation to the charity's activttses Ihere were no significant activities undertaken during the period. Grantmaklng Grants are made to ¢haritable institutM)ns and organisations which accord with objects of the charity. Volunteers During the year charity did not have any volunteers to help viith the objective of the chanty. Achlevements and performance The Iruslees consider that the perfonTrance of the charity this year has been most satisfactory. Flnanclal reviow The Statement of Financial Activities shows a net surplus of £476.685 and Ihe unrestricted general reserves stand at a surplus of £4.276,594. Resorves pollcy The charity does not maintain a reserve policy. as reserves are distributed when they becorne available, al the Iruslees, discrelion. The present level of fundin9 is adequate lo support the continuation of its objects and the trustees consider the financial position of the charity to be salisfactorrf. The trustees has assessed the major risks to which the charity is exposed, and is satisfied that systems are in place io mitigate exposure to the major risks. Future plans There are no significant fulure developments to report. Structure, governance and management Governlng document The Charity is a company limited by guarantee and is controlled by its goveming document, the memorandum and artides of association as defined by the CompanFes Act 2006, Ihe Charities Acl 2011 and the Slalements of Recommended Practice. "Accounting and Reporting by Charities", issued in January 2019. The charitable company was lom)ed on 20 July 1990. The charity is managed and controlled by the directors who are also th8 trus18es, who meet regularly. The members of the trustees, who are also the dir8clors for:.he purpose of Company law. and who served during the year and up lo the dale of signature of the financial slalemenls were-.
COMETVILLE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 Pardes House & 8èis Yaacov Primary Schools Foundation Recruitment and appointment of new trustees It is not the intention of the charity lo appoint new trustees. Should the siluation change in future. the trustees will apply suitable recruitrnent, induction and Iraining procedures. All of ihe members of the twstees a members of the ComnY and guarantee to contribule £1 in the event of a winding up. The entire board meets on regular basis, 81 Feast quartedy, or more if required. Auditor In accordance with the company's articles. a resolution proposing that Goldwins Limiled be reappointed as audilor of the company will be put at a General Meeting. Dlsclosurn of Inforniatlon to audltor Each of the members of the trustees has confimied Ihat there is no infornalion of which he is aware which is relevant to the audit. but of which the auditor is unaware. He has further confimed that he has taken appropriate steps lo idenlify such relevant infomation and to eslablish that the auditof is aware of such infonnalion. Thè trustees. report was approved by the Trustees. Par es House & Bels Yaa¢ov Primary Schools Foundatlon Trustee Dated.. 24102/.2025
COMEIVILLE LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 JULY2024 The trustees, who are also the directors of Comefville Limited for the purpose of company law. is responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Iwslees to prepare financial slatements for each financial year which give a true and fair view of the state of affairs of the charity and of the incomir¥J resources and application of resources. including the incorn6 and expenditure. of the charitable company for that year. In preparing these finanual statements, the trustees is required to: select suitable accountin9 policies and then apply them consistenY'. observe the methods and principles in Ihe Chariti'es SORP make Judgements and eslimales that are reasonable and Frudent: stale whether applicable UK Accounting Standards havè been foltowed. subject to any material departures disclosed and explained in the financial slalements. and prepare the financial ststements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The Iruslees is responsible frjr keeping adequate accounting records that disdose wlh reasonable accuracy at any time the financial positson of the charity and enable it lo ensure that the financial slalements comply with the Companies Act 2006. It is also responsib19 for safeguarding the assels of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
COMETVILLE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF COMETVILLE LIMITED Opinion We have audited the financial statements of Comeiville Limfted (the 'chariVI for the year ended 31 July 2024 which comprise the statement of financi818ctivities, the balance sheet and noles lo the financial statements. including significant accounting policies. The financial reporting framework that has been applied in their preparalion is applicable law and United Kingdom Accounting Stsndards. induding Financial Reporting Standard 102 The Financi81 Reporting Standard applicabl8 in th8 UK and Republic of Ireland (United Kingdom Generally Accept8d Accounting Practice). In our opinion. the financial stalements.. give a true and fair view of the stale of the charitable compan$ affairs a5 at 31 July 2024 and of its incorning resources and application of SourCes. including its income and expenditure. for the year then ended., have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and hav& been prepared in accordance with the requirements of Ihe Companies Acl 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing IUKI (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditoffs responsibilities for the audit of Ihg financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financHI slalemenls in th8 UK. including the FRC'S Ethical Standard. and we have fulfilled our other elhical responsibilrties in accordance with these requirements. We believe that the audit evidence we have obtained is sufflcienl and appropnate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial ststements. we have concluded thal the trustees, use of the going concem basis of accounting in the preparation of the ffinancial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively. may cast significant doubt on the charity's ability lo continue as a going Concem for a period of at leasl iwelve months from when the financial statements are authorised for issue. Our responsibilities and th8 responsibilities of the trustee5 with respect to going concem are described in the relevant s&ctiOElS of this report. Other infomiation The other information comprises the infonnalion induded in the annual repjrt olher than the financial statements and our auditorfs report the0. The trustees is responsib for the other infomiation contained within the annual report. Our opinion on the financ¢al statements does not cover the other infomation and. except lo the extent OtheIse expliciuy stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other infomation and, in doing so. consKler whether the other infomiation is materially inconsistent with the financi8151atements or our knovledge obtained in Ihe course of the audit. or otherwise appears to be materially misstal&d. If we identify such material inconsistencies or apparent material misstatements. we are required lo 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 trEre is a material misstatement of this other information, we are required lo report that fact. We have nothSng to report In this regard. Oplnlons on other rnatters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the infomiation given in the trustees. report for the financial year for which the financial statements are prepad, which indudos the directors. report prepared for the purposes of company law. is consistent with the financial statements- and the directors. report included within the trustees. reporl has been prepared in accordance with applicable legal requirements.
COMETVILLE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBER OF COMETVILLE LIMITED Matters on which we arè requirod to report by exception In the light of the knowledge and understanding of the charity and its environment oblained in the course of the audit, we have not identified material misslalemenls in the drectors, report induded within the Iruslees, report. We have nothing to report in respect of the following matters in relation lo which the Companies Act 2006 requlres us lo report lo you rf. in our opinion: adequate a¢ntIng records have not been kept, or retums adequate for our audit have not been received from branches not visited by us- or the financial ststements are not in agreement with the accounting records and retums- or certain disclosures of tnjslees, remuneration specified by law are not made.. or we have not receivèd all thè information and explanations we requir8 for our audit.. or the trustees was not enlilled to prepare the financial statements in accordance with the small companies regime and tske advantage of the small companies. exemptions in preparing thè IFUStè8s' report and from the quirement to prepare a strategic report. Responslbllltles of trustees As explained more fu51y in the slalement of trustees, reSFw)nbIlitie$, the trustees, who are also the directors of the charity for the purpose of company law. is responsible for the preparalion of the financlal ststemenls and for being satisfied that they give a true and fair view. and for such in18mal control as the trustees detemiines is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial statemenls. Ihe trustees is responsible for assessing the charity's ability lo continue as a going concem. disclosing, as applicable. matters related to going concem and using the going conc8m basis of accounting unless the trustees either intend lo liquidate the charitable company or to cease operations. or have no realistic allemalive but to do so. Auditorfs responsibilities for the audit of the financial ststements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalement. whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delect 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 expecled to influence the 8conomic decisions of users taken on the basis of these financial statements. Th6 extent lo which our procedures are capable of detecting irregularities, including fraud, is detailed below. In idenlrfying and assessing risks of material misstatement in respect of irregLtlaritses. including fraud and non- compliance with laws and regulations. our procedures induded the following.. We enquired of management, which induded obtaining and remewing supporting documentation, concerning the charity's policies and procedures relating to the intemal conlrols estsblished to mitigate risks related lo fr8ud or non-compliance with laws and regulations. We reviewed Ihe financial statement disd05ure5 and tested these lo supporting documentation to assess Complian with applicable laws and regulations. In addressing the risk of fraud through management override of controls, we tested the approprialeness of joumal entries and other adjustments. assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tesled significant transactions that are unusual or those outsid8 the nomal course of business. Because of the inherent limitations of an audrt, there is a risk that we will not detect all irregularilies, including those leading to a material misstatement in the financial statements or non-complian with regulation. The risk is also greater regarding irregularities occurring due to fraud ralher than error. as fraud involves intentional concealment. forgery, collusion, omission or misrepresentation.
COMETVILLE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBER OF COMETVILLE LIMITED A further description of our responsibilities is available on the Financial Reporbng Council's website at.. https=Il www.Irc.org.ukJaudttorsresponsibilities. This description forrns part of our auditorfs report. Use of our roport 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 stale to the charitable company s members those matters we are required to slate to them in an auditor's report and for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility to anyone other than the chaTilable cofflpany and the charilable company s mernbers as a body. for our audit work, for this report, or for the opinions we have fomed. Anthony Epton (Senior Statutory Auditor) For and on behalf of Goldwins Limiled, Slalulory Auditor Chartered Accountants 75 Maygrove Road West Hampslead London NW6 2EG Date.. 25/02/2025
COMETVILLE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024 Unroslri¢t¢d Unrestricted funds funds 2024 2023 Notes Income fro Donations and legacies 220.119 506,013 gndlture on: Charitable activities 57.232 23.180 Ngt InGomg 162,887 482,833 Other rocognssed ga¢ns and losses Revaluation of tangible fixed assels 313.798 Net movement In funds 476.685 482,833 Fund balances at 1 August 2023 11,480,982 10,998,149 Fund balances at 31 July 2024 11.957.667 11,480.982 The statement of financial activities indudes all gains and losses recognised in the year. The slalement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The slalement of financial activities also complies with the requirements for an in(x)me and expenditu account und8r th8 Companies Act 2006.
COMETVILLE LIMITED BALANCE SHEET AS AT31 JULY2024 2024 2023 Notes Flxed assets Tangible assets 10 12.000.000 11,563,389 Current assets Cash at bank 2nd in hand 1.268 28,694 Credltors: amounts falllng due wlthln ono yoar 11 (43,601) (111.1011 Net curront Ilabllltles {42.3331 (82.4071 Total assets less current Ilabllltles 11.957,667 11.480.982 The funds of the charlty Unrestricted funds Unrestricted funds - revaluation 4.276,594 7,681,073 4.113.707 7.367,275 11.957.667 11.480,982 24/02/202 5 The financial ststements We approved by the trustees on ......................... Pardes House & Bels Yaacov Primary Schools Foundation Tfuste Company registration number 02524333 (England and Wales)
COMETVILLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY2024 Accounting policigs Charity Informatlon Cometville Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 44 WapNick Avenue. Edgware, Mtddlesex. HA8 8UJ. 1.1 Accountlng convenllon The financial ststements have been prepared in accordance with the charivs goveming document, the Companies Acl 2006, FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" I"FRS 102.) and the Charities SORP "Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to Charities preparing their accounls in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102)" (effective 1 January 20191. The charity is a Pvblic Benefit Entity as defined by FRS 102. The charity has tsken advantage of the provisions in the SORP for charilies not lo prepare a Ststement of Cash Flows. The financial statements are prepared in sterling, wP..ich is the functional currency of the charity. Monetary amounts in these financial slalements are rounded lo Ihe ne3rest £. The financial statements have been prepared under the historical cost convention. Imodified to include the revaluation of freehold propertiès and lo include investment properties and certain finanaal instnjmenls at fair valuèl. The principal accounting policies adopted are set oul below. 1.2 Going con¢grn Al the time of approving the financial statements. the tnjstees has a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Reslricled funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and u565 of the strfcted fvnds are set out In the note5 to the financial ststements. Endowment fvnds are subject to specific conditions by donors Ihal the capital musl be maintained by the harity. 1A Income Income is recognised when tho charity is legally entsued to it after any p8rfomance conditions have been met. the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised On the charity has been nolifted of the donation. unless perfomiance conditions require deferral of the amount. Income tax recoverable in relalion to donations r&c8iV6d under Gift or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or olhefwise rf the charity has been notified of an impending distribulit)n, the amount is known, and receipt is expected. If the amount is not known, the legacy Is treated as a contingent asset.
COMETVILLE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 A¢¢ounting pollcles ICont•nu&d) 1.5 ExndIture Liabilities a recognised as expenditure as soon as Ihere is a legal or constructive obligation committing the charity to that expenditure. it is probable that a transfer of ewnomic benefit will be required in setdement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all cost related the category. Where Costs cannot be directly allribuled to particular headings they have been allocated to activities on basis consistent with the use of resources. 1.6 Tangible fixed a¥5ets Tangible fixed assets are initially measured at cost subsequently measured at cost or valuation. net of depreciation and any impairment losse5. Depreciation is recognised so as to write off the cost cf valuation of assels less thelr resldual values over their useful lives on the following bases: Freehold land and buildings Freehold land and buildings are not depTlated. The 9ain or loss arising on the disposal of an asset is detemined as the dtff&ren¢e between the sale proceeds 2nd the carrying value of Ihe asset, and is recognised in the statement of financial aclivities. 1.7 Impasmient of fixod assèts Al each reporting end dale. the charity reviews the carying amounts of its tangible assets to delemine whether there is any indication that those assels have suffered an impaimenl loss. If any such indication exists. the recoverable amount of the asset is estimated in order to detemine the extent of the impairn)ent loss {rf any). 1.8 Cash and cash equivalents Cash and cash equivalents indude cash in hand. deposits held at call with banks. other short-tem liquid investments with original maturities of three months cf less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Basi¢ financial assets Basic finanual assets, which indude debtors and cash and bank balances, are initially measured al transaclion price including iransaction costs and are subsequently carried al amortised cost using the effective inleresl method unless the arrangement constitutes a financing transaction. where the transaction is mea5ur8d al the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Bosic financial liabilities Basic financial liabilities, including [tOrS and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrurnenl Is measured at the present value of the future payments discounted at 8 market rate of inte$1. Financial liabiltties classified as payable within one year are not amortised. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligalions expire or are discharged or cancelled. 10-
COMETVILLE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 Income from donations and legacles Unrestricted funds 2024 Unrestricted funds 2023 Donations and gifts 220.119 506,013 Expendituro on Gharltable activitios Charltable activlty 2024 Charltsble actlvlty 2023 Dlrect costs Grant funding of activities (see note 4) 53,000 Share of support and governance costs Isee note 5) Support Govemance 632 3.600 19,580 3,600 57,232 23.180 Analysis by fund Unrestricted funds 57.232 23,180 Grants payable Charitablo a¢tlvlty 2024 Grants to institutions.. Mifal Tzedoko Voche5ed Ltd North London Welfare and Educational Foundation 20,000 33.000 53,000 11
COMETVILLE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 Support costs Support Governance costs costs 2024 Support Govtrmanca costs costs 2023 Bank charges and interest paid Legal and professional fees Repairs and maintenance Sundry cost 205 205 197 197 19,383 19,383 392 35 392 35 Audit fees 3.600 3.600 3,600 3,600 632 4,232 19,580 3.600 23.180 Analysed tween Charitable activities 632 3.600 4,232 19,580 3,600 23.180 Govemance costs indudes payrnents to the auditor5 of £3,600 for audit fees. Nel movement In funds 2024 2023 The net movement in funds is stated after chargingl{credits'ng): Fees payable for the audit of the chariws financial stslements 3,600 3,600 Truslees None of the ITUStees lor any p8r50ns connectsd with them) received any remuneration or benefits from the charity during the year. Employees The average monthly number of em 0yeeS during the year was O {2023: 0). Taxatlon The ch8rity is exempt from taxation on its activities because all its income is applied for charitable purposes. 12-
COMETVILLE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 10 Tangible fixed assets Frgehold land and bulldlngs Cost or valuatton At 1 August 2023 Additions Revaluation 11,563,389 122.813 313,798 Al 31 July 2024 12,000.000 Carrying amount Al 31 July 2024 12.000,000 Al 31 July 2023 11.563,389 The trustees confimi the fair value as al 31 July 2024. 11 Creditors: amounts falling due within one year 2024 2023 Olher creditors Accruals and deferred income 40,001 3,600 107,501 3,600 43.601 111,101 12 Analysls of not assets between funds Unrestrlcted funds 2024 At 31 July 2024: Tangible assets Current asselsl{liabilities) 12.000.000 (42,3331 11.957,667 13-
COMETVILLE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 12 Analysis of net assets between funds {Continuedl Unrestrlcted funds 2023 At 31 July 2023: Tangible assets Current assets1{liabilities) 11,563,389 182.4071 11.480.982 13 Relatod party transactlcns There were no disclosable related party transactions during the year {2023- none). 14-