REGISTERED COMPANY NUMBER: 03300492 (England and Wales) REGISTERED CHARITY NUMBER: 1060844
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
FOR
GROVE END ROAD LIMITED
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
GROVE END ROAD LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
| 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 8 |
GROVE END ROAD LIMITED (REGISTERED NUMBER: 03300492)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2023
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 January 2023. 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 aims
The objective of the charity is the advancement of the orthodox Jewish religion.
Public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities.
ACHIEVEMENT AND PERFORMANCE Internal and external factors
There are no specific factors to report.
FINANCIAL REVIEW
Financial position
The charity holds a freehold property which is used to further the charity's objects. During the year the charity received £30,278 (2022: £29,400) in rental income from the property and incurred expenditure of £11,235 (2022: £11,224).
The charity made interest-bearing loans to third parties which resulted in £14,544 (2022: £1,519) of interest income.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The charity is governed by the trustees. The charity must have a minimum of two trustees at any time but there is no maximum.The trustees may appoint a person to become a trustees by ordinary resolution.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
03300492 (England and Wales)
Registered Charity number
1060844
Registered office
First Floor Winston House 349 Regents Park Road London N3 1DH
Trustees
Mr D Goldwater Mr C Lossos Mr I B Glick (resigned 28.9.23) Lord A Grabiner
Independent Examiner
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Page 1
GROVE END ROAD LIMITED (REGISTERED NUMBER: 03300492)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2023
Approved by order of the board of trustees on 9 October 2023 and signed on its behalf by:
Mr C Lossos - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GROVE END ROAD LIMITED
Independent examiner's report to the trustees of Grove End Road Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2023.
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.
Mr Aryeh Melinek, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
9 October 2023
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GROVE END ROAD LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities Charitable activities Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted fund £ - 44,822 44,822 15,116 2,507 17,623 27,199 1,569,962 **1,597,161 ** |
2022 Total funds £ 5,073 30,920 35,993 11,224 3,839 15,063 20,930 1,549,032 1,569,962 |
|---|---|---|
The notes form part of these financial statements
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GROVE END ROAD LIMITED (REGISTERED NUMBER: 03300492)
BALANCE SHEET 31 JANUARY 2023
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Debtors 7 Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS |
2023 Unrestricted fund £ 1,145,338 300,688 152,305 452,993 (1,170) 451,823 1,597,161 1,597,161 1,597,161 1,597,161 |
2022 Total funds £ 1,150,833 582 418,547 419,129 - 419,129 1,569,962 1,569,962 1,569,962 1,569,962 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 9 October 2023 and were signed on its behalf by:
Mr C Lossos - Trustee
The notes form part of these financial statements
Page 5
GROVE END ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - at varying rates on cost
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Legal status of the charity
The charity is a company limited by guarantee and has no share capital. Liability of each member in the event of winding-up is limited to £10.
2. INVESTMENT INCOME
| Rents received Deposit account interest |
2023 £ 30,278 14,544 44,822 |
2022 £ 29,401 1,519 30,920 |
|---|---|---|
continued...
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GROVE END ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023
3. RAISING FUNDS
Investment management costs
4.
| Management fees Property repairs Insurance Legal and professional Depreciation NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2023 £ 4,360 366 714 4,181 5,495 15,116 2023 £ 5,495 |
2022 £ 4,270 582 705 4,380 1,287 11,224 2022 £ 1,286 |
|---|---|---|
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 January 2023 nor for the year ended 31 January 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 January 2023 nor for the year ended 31 January 2022.
6. TANGIBLE FIXED ASSETS
| COST At 1 February 2022 and 31 January 2023 DEPRECIATION At 1 February 2022 Charge for year At 31 January 2023 NET BOOK VALUE At 31 January 2023 At 31 January 2022 |
Freehold property £ 1,139,843 - - - 1,139,843 1,139,843 |
Fixtures and fittings £ 16,136 5,146 5,495 10,641 5,495 10,990 |
Totals £ 1,155,979 5,146 5,495 10,641 1,145,338 1,150,833 |
|---|---|---|---|
continued...
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GROVE END ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|
| Other debtors Prepayments and accrued income CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income |
2023 £ 300,000 688 300,688 2023 £ 1,170 |
2022 £ - 582 582 2022 £ - |
|
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 January 2023.
10. FINANCIAL INSTRUMENTS
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.
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