REGISTERED COMPANY NUMBER: 04625461 (England and Wales) REGISTERED CHARITY NUMBER: 1097892
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2022
for
Ranbell Ltd
Martin+Heller 5 North End Road London NW11 7RJ
Ranbell Ltd
Contents of the Financial Statements for the Year Ended 31 December 2022
----- Start of picture text -----
Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 14
Detailed Statement of Financial Activities 15
----- End of picture text -----
Ranbell Ltd
Report of the Trustees for the Year Ended 31 December 2022
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 December 2022. 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 charity was formed for the advancement of the education of persons expressing the orthodox Jewish faith, the advancement of the orthodox Jewish faith, and the relief of poverty in the orthodox Jewish community.
The charity is also actively involved in raising funds for general education, and relief of poverty, and to this end made substantial grants in the year under review.
Significant activities
In relation to the charity's activities there were no significant activities undertaken during the year.
Public benefit
The trustees confirm their compliance with the duty to have regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.
Grantmaking
Grants are made to charitable institutions and organisations which accord with the objects of the Charity.
Volunteers
During the year, the charity did not have any volunteers to help with the objective of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to institutions during the year from income earned from the Charity's investment property.
The Statement of Financial Activities shows a net surplus of £37,567, this is after making total grants of £20,180 and now the reserves stand at £746,494.
Investment performance
The trustees are currently satisfied with the investment performance of the assets. The Company has not expanded its activities during the current year, but is always looking at opportunities, The current investment property is producing good results which enhances its charitable activities.
Internal and external factors
The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact.
FINANCIAL REVIEW
Principal funding sources
Ranbell Limited through its investment policy the returns from the investments have produced good rental income.
Overall the charity has experienced a good year and hopes it will continue to do so next year.
Investment policy and objectives
Under the memorandum and articles of association, the charity has the power to make any investment, which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that investments in property and investments in shares meets their requirements to generate both income and capital growth.
Page 1
Ranbell Ltd
Report of the Trustees for the Year Ended 31 December 2022
FINANCIAL REVIEW
Reserves policy
The charity does not maintain a reserve policy, as reserves are distributed when they become available, at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.
FUTURE PLANS
There are no significant future developments to report.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006, the Charities Act 2011, and 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 2015).The company was formed on 24 December 2002. The charity is managed and controlled by the directors who are the trustees, who meet regularly.
Recruitment and appointment of new trustees
It is not the intention of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment, induction and training procedures.
Organisational structure
The Chief Executive of the charity is Mr S Rand, to whom day to day management of the charity has been delegated.
The Board of Trustees must, as per the governing document, have at least 3 trustees serving at anyone time.
The entire board meets on a regular basis, at least quarterly, or more if required.
Induction and training of new trustees
All new trustees are given, in the view of the board, sufficient training and have enough knowledge of their specific field to understand the nature of the charity and fully comply with the charities views of its progression.
New trustees undergo a briefing to ensure they are aware of both their legal and professional responsibilities under charity and company law.
Wider network
At present Ranbell Limited does not consider itself part of a wider network.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04625461 (England and Wales)
Registered Charity number
1097892
Page 2
Ranbell Ltd
Report of the Trustees for the Year Ended 31 December 2022
Registered office 10 Palm Court Queen Elizabeth's Walk London N16 5XA
Trustees C Rand S Rand A Klein J Baumgarten
Company Secretaries
S Rand J Baumgarten
Independent Examiner
A.Heller FCA Martin+Heller 5 North End Road London NW11 7RJ
Approved by order of the board of trustees on 25 July 2023 and signed on its behalf by:
C Rand - Trustee
Page 3
Independent Examiner's Report to the Trustees of Ranbell Ltd
Independent examiner's report to the trustees of Ranbell Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
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.
A.Heller FCA
Martin+Heller 5 North End Road London NW11 7RJ
25 July 2023
Page 4
Ranbell Ltd
Statement of Financial Activities for the Year Ended 31 December 2022
| 31.12.22 | 31.12.21 | ||
|---|---|---|---|
| Unrestricted | |||
| funds | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Investment income | 2 | 87,315 | 85,889 |
| EXPENDITURE ON | |||
| Raising funds | 3 | 29,568 | 25,007 |
| Charitable activities | |||
| Donations to Institutions | 20,180 | 44,020 | |
| Total | 49,748 | 69,027 | |
| Net gains/(losses) on investments | - | (100,000) | |
| NET INCOME/(EXPENDITURE) | 37,567 | (83,138) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 708,927 | 792,065 | |
| TOTAL FUNDS CARRIED FORWARD | 746,494 | 708,927 |
The notes form part of these financial statements
Page 5
Ranbell Ltd
Balance Sheet 31 December 2022
| 31.12.22 Unrestricted funds Notes £ FIXED ASSETS Investment property 8 1,100,000 CURRENT ASSETS Debtors 9 2,166 Cash at bank 12,291 14,457 CREDITORS Amounts falling due within one year 10 (219,049) NET CURRENT ASSETS (204,592) TOTAL ASSETS LESS CURRENT LIABILITIES 895,408 CREDITORS Amounts falling due after more than one year 11 (148,914) NET ASSETS 746,494 FUNDS 13 Unrestricted funds 746,494 TOTAL FUNDS 746,494 |
31.12.21 Total funds £ 1,100,000 3,822 6,250 10,072 (220,111) (210,039) 889,961 (181,034) 708,927 708,927 708,927 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.
The notes form part of these financial statements
Page 6
continued...
Ranbell Ltd
Balance Sheet - continued 31 December 2022
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 July 2023 and were signed on its behalf by:
C Rand - Trustee
The notes form part of these financial statements
Page 7
Ranbell Ltd
Notes to the Financial Statements for the Year Ended 31 December 2022
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, as modified by the revaluation of certain assets.
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.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
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.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| Rents received | 87,315 | 85,889 |
continued...
Page 8
Ranbell Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
3. RAISING FUNDS
| Raising donations and legacies | |||
|---|---|---|---|
| 31.12.22 | 31.12.21 | ||
| £ | £ | ||
| Support costs | 1,883 | 1,880 | |
| Investment management costs | |||
| 31.12.22 | 31.12.21 | ||
| £ | £ | ||
| Repairs & renewals | 9,897 | 7,165 | |
| Legal & professional | 673 | 433 | |
| Council tax | 15 | 304 | |
| Insurance | 1,738 | 1,755 | |
| Light & heat | 50 | 108 | |
| Cleaning | 360 | 573 | |
| Letting fees | 8,493 | 7,966 | |
| Interest payable and similar charges | 6,459 | 4,823 | |
| 27,685 | 23,127 | ||
| Aggregate amounts | 29,568 | 25,007 | |
| 4. | GRANTS PAYABLE | ||
| 31.12.22 | 31.12.21 | ||
| £ | £ | ||
| Donations to Institutions | 20,180 | 44,020 | |
| The total grants paid to institutions during the year was as follows: | |||
| 31.12.22 | 31.12.21 | ||
| £ | £ | ||
| Moreshet Hatorah Ltd | 10,700 | 9,500 | |
| Dover Sholem Community Trust | 2,750 | 19,570 | |
| Yesamach Levav Trust | 1,500 | 2,500 | |
| Clapton Support and Advice | 1,280 | - | |
| Other donations less than £1,000 | 1,600 | 2,920 | |
| Friends of Torah V'emunah | - | 4,580 | |
| Bait Limud Vchesed | - | 1,800 | |
| BFOT | - | 1,800 | |
| Amud HatzdokohTrust | - | 1,350 | |
| Kids Care London | 1,350 | - | |
| Beis Kosov | 1,000 | - | |
| 20,180 | 44,020 |
continued...
Page 9
Ranbell Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
5. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Finance | costs | Totals | |
| £ | £ | £ | |
| Raising donations and legacies | 83 | 1,800 | 1,883 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Investment income | 85,889 |
| EXPENDITURE ON | |
| Raising funds | 25,007 |
| Charitable activities | |
| Donations to Institutions | 44,020 |
| Total | 69,027 |
| Net gains/(losses) on investments | (100,000) |
| NET INCOME/(EXPENDITURE) | (83,138) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 792,065 |
| TOTAL FUNDS CARRIED FORWARD | 708,927 |
continued...
Page 10
Ranbell Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
8. INVESTMENT PROPERTY
| FAIR VALUE At 1 January 2022 and 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 Fair value at 31 December 2022 is represented by: Valuation in 2010 Valuation in 2017 Valuation in 2021 Cost 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 12) Rent received in advance Other creditors Accrued expenses |
31.12.22 £ 1,125 159 882 2,166 31.12.22 £ 32,349 3,350 181,103 2,247 219,049 |
£ 1,100,000 1,100,000 1,100,000 £ 189,319 91,316 (100,000) 919,365 1,100,000 31.12.21 £ 2,245 721 856 3,822 31.12.21 £ 32,578 2,748 180,964 3,821 220,111 |
|---|---|---|
continued...
Page 11
Ranbell Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 31.12.22 | 31.12.21 | |||
|---|---|---|---|---|
| £ | £ | |||
| Bank loans (see note 12) | 148,914 | 181,034 | ||
| 12. | LOANS | |||
| An analysis of the maturity of loans is given below: | ||||
| 31.12.22 | 31.12.21 | |||
| £ | £ | |||
| Amounts falling due within one year on demand: | ||||
| Bank loans | 32,349 | 32,578 | ||
| Amounts falling between one and two years: | ||||
| Bank loans - 1-2 years | 32,349 | 32,578 | ||
| Amounts falling due between two and five years: | ||||
| Bank loans - 2-5 years | 97,048 | 97,734 | ||
| Amounts falling due in more than five years: | ||||
| Repayable by instalments: | ||||
| Bank loans more 5 yr by instal | 19,517 | 50,722 | ||
| 13. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1/1/22 | in funds | 31/12/22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 708,927 | 37,567 | 746,494 | |
| TOTAL FUNDS | 708,927 | 37,567 | 746,494 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 87,315 | (49,748) | 37,567 | |
| TOTAL FUNDS | 87,315 | (49,748) | 37,567 |
continued...
Page 12
Ranbell Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1/1/21 | in funds | 31/12/21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 792,065 | (83,138) | 708,927 | |
| TOTAL FUNDS | 792,065 | (83,138) | 708,927 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 85,889 | (69,027) | (100,000) | (83,138) |
| TOTAL FUNDS | 85,889 | (69,027) | (100,000) | (83,138) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement At 1/1/21 in funds £ £ Unrestricted funds General fund 792,065 (45,571) TOTAL FUNDS 792,065 (45,571) |
At 31/12/22 £ 746,494 |
|---|---|
| 746,494 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 173,204 | (118,775) | (100,000) | (45,571) |
| TOTAL FUNDS | 173,204 | (118,775) | (100,000) | (45,571) |
continued...
Page 13
Ranbell Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
14. RELATED PARTY DISCLOSURES
Included in other creditors is a loan due to Bourneheights Limited for £172,717 (2021 - £172,717) and a loan due to Thornmead Securities Limited for £8,260 (2021 - £8,247).
The above loans are interest free and repayable on demand.
Mr C Rand and Mr S Rand are directors of both the above named companies.
Page 14
Ranbell Ltd
Detailed Statement of Financial Activities for the Year Ended 31 December 2022
| 31.12.22 | 31.12.21 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Rents received | 87,315 | 85,889 |
| Total incoming resources | 87,315 | 85,889 |
| EXPENDITURE | ||
| Investment management costs | ||
| Repairs & renewals | 9,897 | 7,165 |
| Legal & professional | 673 | 433 |
| Council tax | 15 | 304 |
| Insurance | 1,738 | 1,755 |
| Light & heat | 50 | 108 |
| Cleaning | 360 | 573 |
| Letting fees | 8,493 | 7,966 |
| Bank loan interest | 6,459 | 4,823 |
| 27,685 | 23,127 | |
| Charitable activities | ||
| Grants to institutions | 20,180 | 44,020 |
| Support costs | ||
| Finance | ||
| Bank charges | 83 | 80 |
| Governance costs | ||
| Accountancy fees | 1,800 | 1,800 |
| Total resources expended | 49,748 | 69,027 |
| Net income | 37,567 | 16,862 |
This page does not form part of the statutory financial statements
Page 15