REGISTERED COMPANY NUMBER: 03161919 (England and Wales) REGISTERED CHARITY NUMBER: 1058128
YESBE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
YESBE LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 | |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 | |
| Notes to the Financial Statements | 6 to | 10 |
YESBE LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2021
| TRUSTEES | Y Z Benedikt |
|---|---|
| Y N Benedikt | |
| Y S Benedikt | |
| M Benedikt | |
| C Benedikt | |
| J Masar | |
| M Z Kohn | |
| COMPANY SECRETARY | E Benedikt |
| REGISTERED OFFICE | 94 Stamford Hill |
| London | |
| N16 6XS | |
| PRINCIPAL ADDRESS | 4 Manor Road |
| London | |
| N16 5SA | |
| REGISTERED COMPANY | 03161919 (England and Wales) |
| NUMBER | |
| REGISTERED CHARITY | 1058128 |
| NUMBER | |
| INDEPENDENT EXAMINER | Sugarwhite Meyer HS Ltd |
| First Floor | |
| 94 Stamford Hill | |
| London | |
| N16 6XS | |
| BANKERS | Barclays Bank PLC |
| 93 Baker Street | |
| London |
Page 1
YESBE LIMITED (REGISTERED NUMBER: 03161919)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021
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 2021. 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 Jewish faith.
The trustees confirm that they have given due regard to the Charity Commission's guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The main source of the charity's income was donations received from its subsidiary Pinlee Investments Ltd; income was materially the same as in the previous year; grants made were down by approximately 17%, this ensured that the deficit incurred was kept at a minimum.
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 a deficit of £1,456 (2020 - £3,139 deficit).
FUTURE PLANS
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes.
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.
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 30 May 2022 and signed on its behalf by:
M Z Kohn - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YESBE LIMITED
Independent examiner's report to the trustees of Yesbe Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2021.
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
E Meyer FCA BSc Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
30 May 2022
Page 3
YESBE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 188,650 Investment income 2 1 Total 188,651 EXPENDITURE ON Raising funds 3 29,600 Charitable activities 4 Charitable 157,368 Total 186,968 NET INCOME/(EXPENDITURE) 1,683 RECONCILIATION OF FUNDS Total funds brought forward (3,139) TOTAL FUNDS CARRIED FORWARD (1,456) |
2020 Total funds £ 188,325 - 188,325 - 188,455 188,455 (130) (3,009) (3,139) |
|---|---|
The notes form part of these financial statements
Page 4
YESBE LIMITED (REGISTERED NUMBER: 03161919)
BALANCE SHEET 31 JULY 2021
| Notes FIXED ASSETS Investments 9 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS/(LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS/(LIABILITIES) FUNDS 11 Unrestricted funds: General fund TOTAL FUNDS |
2021 2020 Total Total funds funds £ £ 51 51 666 33 (2,173) (3,223) (1,507) (3,190) (1,456) (3,139) (1,456) (3,139) (1,456) (3,139) (1,456) (3,139) |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(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 30 May 2022 and were signed on its behalf by:
M Z Kohn - Trustee
The notes form part of these financial statements
Page 5
YESBE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
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
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.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Going concern
There are no material uncertainties about the charity's ability to continue.
2. INVESTMENT INCOME
3.
| INVESTMENT INCOME | |||
|---|---|---|---|
| 2021 | 2020 | ||
| Unrestricted | Total | ||
| funds | funds | ||
| £ | £ | ||
| Deposit account interest | 1 | - | |
| RAISING FUNDS | |||
| Investment management costs | |||
| 2021 | 2020 | ||
| Unrestricted | Total | ||
| funds | funds | ||
| £ | £ | ||
| Portfolio management | 29,600 | - |
Page 6
YESBE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021
4. CHARITABLE ACTIVITIES COSTS
| Grant funding of activities (see note 5) £ Charitable 154,750 5. GRANTS PAYABLE Charitable The total grants paid to institutions during the year was as follows: Advancement of religion Advancement of education Relief of poverty General purpose British Friends of Rinat Aharon Dushinsky Trust The Yeshivas Ohel Shimon Trust Other grants below £11,000 6. SUPPORT COSTS Finance £ Charitable 143 Support costs, included in the above, are as follows: Finance Bank charges |
|
|---|---|
Page 7
YESBE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021
6. SUPPORT COSTS - continued Governance costs
| SUPPORT COSTS - continued Governance costs |
||
|---|---|---|
| 2021 | 2020 | |
| Total | ||
| Charitable | activities | |
| £ | £ | |
| Independent examiner's fee | 1,140 | 825 |
| Independent examiner's other fees | 900 | 825 |
| General expenses | 435 | 233 |
| 2,475 | 1,883 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2021 nor for the year ended 31 July 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2021 nor for the year ended 31 July 2020.
8. STAFF COSTS
The average number of staff in the year was Nil (2020 - Nil).
9. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Shares in | |
| group | |
| undertakings | |
| £ | |
| SUBSIDIARY AT COST | |
| At 1 August 2020 and 31 July 2021 | 51 |
| NET BOOK VALUE | |
| At 31 July 2021 | 51 |
| At 31 July 2020 | 51 |
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
Pinlee Investments Limited
Registered office: 94 Stamford Hill, London, England, N16 6XS
Nature of business: Buying and selling of own real estate
| Nature of business: Buying and selling | of own real estate | ||
|---|---|---|---|
| % | |||
| Class of share: | holding | ||
| Ordinary shares | 51 | ||
| 27.3.21 | 22.3.20 | ||
| £ | £ | ||
| Aggregate capital and reserves | 12,133,197 | 11,963,292 | |
| Profit for the period | 213,540 | 79,199 |
Page 8
YESBE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021
| 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income 11. MOVEMENT IN FUNDS At 1.8.20 £ Unrestricted funds General fund (3,139) TOTAL FUNDS (3,139) Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 188,651 TOTAL FUNDS 188,651 Comparatives for movement in funds At 1.8.19 £ Unrestricted funds General fund (3,009) TOTAL FUNDS (3,009) Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 188,325 TOTAL FUNDS 188,325 |
2021 2020 £ £ 2,173 3,223 Net movement At in funds 31.7.21 £ £ 1,683 (1,456) 1,683 (1,456) Resources Movement expended in funds £ £ (186,968) 1,683 (186,968) 1,683 Net movement At in funds 31.7.20 £ £ (130) (3,139) (130) (3,139) Resources Movement expended in funds £ £ (188,455) (130) (188,455) (130) |
|---|---|
Page 9
YESBE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021
12. RELATED PARTY DISCLOSURES
The Charity received unrestricted donations of £179,350 from it's subsidiary, Pinlee Investments Ltd.
Page 10