COMPANY REGISTRATION NUMBER: 04952955 CHARITY REGISTRATION NUMBER: 1100680
JASSIANE LIMITED
Company Limited by Guarantee
UNAUDITED FINANCIAL STATEMENTS
31 MARCH 2023
JASSIANE LIMITED
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
| 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 |
JASSIANE LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
YEAR ENDED 31 MARCH 2023
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 31 March 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name Jassiane Limited Charity registration number 1100680 Company registration number 04952955 Principal office and registered New Burlington House office 1075 Finchley Road London NW11 0PU THE TRUSTEES Mr J E Lewis Mr R S Lewis Mrs S Lewis
INDEPENDENT EXAMINER D Goldberg, FCA DChA New Burlington House 1075 Finchley Road London NW11 0PU
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity is constituted as a Company Limited by guarantee, and is therefore governed by its Memorandum and Articles of Association.
On 16 April 2008, the company changed its name from Edgware Charities Limited to Jassiane Limited.
The Company's Subsidiary Undertaking, Site Manage Ltd is a property development and trading Company.
The day-to-day affairs of the Charity are administered by the council of Trustees. None of the Trustees who are also the Directors have any beneficial interest in the Company.
It is not currently the intention of the Trustees of the Charity to appoint new Trustees. Should the situation change in the future, the Trustees will apply suitable recruitment training and procedures.
All Trustees give their time voluntarily and no benefit or expenses were paid to them in the year.
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JASSIANE LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 31 MARCH 2023
OBJECTIVES AND ACTIVITIES
The charity's object and its principal activity continues to be the advancement and furtherance of the Jewish religion and Jewish religious education and the alleviation of poverty among the Jewish community.
The charity receives income from voluntary donations and its property investments which it utilises in the provision and distribution of grants and donations.
The trustees confirm that they have referred to the guidance contained in the charity commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grant making policy for the year.
Grant making policy
Grants are made to charitable institutions and organisations which accord with the objects of the Charity.
The trustees are approached for donations by a wide variety of charitable institutions operating all over England. The trustees consider all requests which they receive and make donations based on the level of funds available.
ACHIEVEMENTS AND PERFORMANCE
During the year the charity continued its philanthropic activities in support of religious, educational and other charitable institutions and, aggregate donations in the sum of £106,775 (2022: £26,550) were paid in the year to 31 March 2023.
The financial results of the charity's activities for the year ended 31 March 2023 are fully reflected in the attached financial statements together with the notes thereon.
FINANCIAL REVIEW
Reserve Policy
It is the policy of the charity to maintain unrestricted funds, at a level which the trustees think appropriate, after considering the future commitments of the charity and the likely costs of the charity for the next year.
As at 31 March 2023 the charity had negative reserves. The trustees are actively considering the steps to take to generate surpluses in the future.
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed, in particular those related to the operations and finance of the charity, and are satisfied that systems are in place to manage those risks.
PLANS FOR FUTURE PERIODS
The trustees plan to continue to make distributions in accordance with their grant making policy and to ensure that an appropriate level of reserves is maintained.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
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JASSIANE LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 31 MARCH 2023
The trustees' annual report was approved on 2 August 2023 and signed on behalf of the board of trustees by:
MR R S LEWIS Trustee
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JASSIANE LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JASSIANE LIMITED
YEAR ENDED 31 MARCH 2023
I report to the trustees on my examination of the financial statements of Jassiane Limited ('the charity') for the year ended 31 March 2023.
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:
-
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.
D GOLDBERG, FCA DCHA
Independent Examiner
New Burlington House 1075 Finchley Road London NW11 0PU
2 August 2023
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JASSIANE LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MARCH 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies | 5 | 90,750 | 90,750 | – |
| ------------------------------- | ------------------------------- | ---------------- | ||
| TOTAL INCOME | 90,750 | 90,750 | – | |
| =============================== | =============================== | ================ | ||
| EXPENDITURE | ||||
| Expenditure on charitable activities | 6,7 | (110,768) | (110,768) | (29,101) |
| ------------------------------------- | ------------------------------------- | ------------------------------- | ||
| TOTAL EXPENDITURE | (110,768) | (110,768) | (29,101) | |
| ===================================== | ===================================== | =============================== | ||
| ------------------------------------- | ------------------------------------- | ------------------------------- | ||
| NET EXPENDITURE AND NET MOVEMENT | IN | |||
| FUNDS | (20,018) | (20,018) | (29,101) | |
| ===================================== | ===================================== | =============================== | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | (48,351) | (48,351) | (19,250) | |
| ------------------------------------- | ------------------------------------- | ------------------------------- | ||
| TOTAL FUNDS CARRIED FORWARD | (68,369) | (68,369) | (48,351) | |
| ===================================== | ===================================== | =============================== |
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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JASSIANE LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
31 MARCH 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| FIXED ASSETS | ||||
| Investments | 13 | 3,378 | 3,378 | |
| CURRENT ASSETS | ||||
| Cash at bank and in hand | 91 | 30,035 | ||
| CREDITORS: amounts falling due within one | ||||
| year | 14 | (33,514) | (40,097) | |
| ------------------------------- | ------------------------------- | |||
| NET CURRENT LIABILITIES | (33,423) | (10,062) | ||
| ------------------------------- | ------------------------------- | |||
| TOTAL ASSETS LESS CURRENT LIABILITIES | (30,045) | (6,684) | ||
| CREDITORS: amounts falling due after more | ||||
| than one year | 15 | (38,324) | (41,667) | |
| ------------------------------- | ------------------------------- | |||
| NET LIABILITIES | (68,369) | (48,351) | ||
| =============================== | =============================== | |||
| FUNDS OF THE CHARITY | ||||
| Unrestricted funds | (68,369) | (48,351) | ||
| ------------------------------- | ------------------------------- | |||
| TOTAL CHARITY FUNDS | 16 | (68,369) | (48,351) | |
| =============================== | =============================== |
For the year ending 31 March 2023 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 2 August 2023, and are signed on behalf of the board by:
MR R S LEWIS
Trustee
The notes on pages 7 to 11 form part of these financial statements.
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JASSIANE LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
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 New Burlington House, 1075 Finchley Road, London, NW11 0PU.
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 measured at fair value through income or expenditure.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
There are no judgements, estimates and assumptions that affect the amounts reported.
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.
Incoming resources
All income is 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.
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.
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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JASSIANE LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2023
3. ACCOUNTING POLICIES (continued)
Resources expended (continued)
Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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.
Charitable activities
Grants payable are charged to the statement of financial activities once the foundation has made a commitment to pay the grant and this has been communicated to the beneficiary or the grant has been paid, whichever is earlier.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
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 payable 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.
Debt instruments are subsequently measured at amortised cost.
4. LIMITED BY GUARANTEE
The Charity is a Company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
5. DONATIONS AND LEGACIES
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| DONATIONS | ||||
| Donations receivable | 90,750 | 90,750 | – | – |
| =============================== | =============================== | ================ | ================ |
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JASSIANE LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2023
6. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Grants paid | 106,775 | 106,775 | 26,550 | 26,550 |
| Support costs | 3,993 | 3,993 | 2,551 | 2,551 |
| ------------------------------------- | ------------------------------------- | ------------------------------- | ------------------------------- | |
| 110,768 | 110,768 | 29,101 | 29,101 | |
| ===================================== | ===================================== | =============================== | =============================== |
7. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Grant | |||||
|---|---|---|---|---|---|
| funding of | Total funds | Total fund | |||
| activities | Support costs | 2023 | 2022 | ||
| £ | £ | £ | £ | ||
| Grants paid | 106,775 | – |
106,775 | 26,550 | |
| Governance costs | – | 3,993 |
3,993 | 2,551 | |
| ------------------------------------- | -------------------------- | ------------------------------------- | ------------------------------- | ||
| 106,775 | 3,993 |
110,768 | 29,101 | ||
| ===================================== | ========================== | ===================================== | =============================== | ||
| 8. | ANALYSIS OF SUPPORT COSTS | ||||
| Support costs | Total 2023 | Total 2022 | |||
| £ | £ | £ | |||
| Governance costs | 3,993 | 3,993 | 2,550 | ||
| ========================== | ========================== | ========================== | |||
| 9. | ANALYSIS OF GRANTS | ||||
| 2023 | |||||
| £ | |||||
| The Rehabilitation Trust | 51,750 | ||||
| Shir Chesed Beis Yisroel | 34,300 | ||||
| Tevini Limited | 10,000 | ||||
| Kahal Chassidim Bobov | 8,000 | ||||
| Reb Shayale's Tzeduke | 2,500 | ||||
| Kef Kids | 225 | ||||
| ------------------------------------- | |||||
| 106,775 | |||||
| ===================================== | |||||
| 10. | INDEPENDENT EXAMINATION FEES | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 1,560 | 960 | |||
| ========================== | ================ | ||||
| 11. | STAFF COSTS |
The average head count of employees during the year was Nil (2022: Nil).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
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JASSIANE LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2023
12. TRUSTEE REMUNERATION AND EXPENSES
There was no remuneration paid to the trustees. The charity did not meet any individual expenses incurred by the trustees for services provided to the charity.
13. INVESTMENTS
| INVESTMENTS | ||
|---|---|---|
| Shares in | ||
| group | ||
| undertakings | ||
| £ | ||
| Cost or valuation | ||
| At 1 April 2022 and 31 March 2023 | 3,378 | |
| ========================== | ||
| Impairment | ||
| At 1 April 2022 and 31 March 2023 | – | |
| ========================== | ||
| Carrying amount | ||
| At 31 March 2023 | 3,378 | |
| ========================== | ||
| At 31 March 2022 | 3,378 | |
| ========================== | ||
| All investments shown above are held at valuation. | ||
| CREDITORS: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Bank loans and overdrafts | – | 3 |
| Accruals and deferred income | 1,560 | 960 |
| Other creditors | 31,954 | 39,134 |
| ------------------------------- | ------------------------------- | |
| 33,514 | 40,097 |
|
| =============================== | =============================== | |
| CREDITORS: amounts falling due after more than one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Bank loans and overdrafts | 38,324 | 41,667 |
| =============================== | =============================== |
14. CREDITORS: amounts falling due within one year
15. CREDITORS: amounts falling due after more than one year
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JASSIANE LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2023
16. ANALYSIS OF CHARITABLE FUNDS
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 April | 31 March | |||
| 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| General funds | (48,351) | 90,750 | (110,768) | (68,369) |
| =============================== | =============================== | ===================================== | =============================== | |
| At | At | |||
| 1 April | 31 March | |||
| 2021 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| General funds | (19,250) | – | (29,101) | (48,351) |
| =============================== | ================ | =============================== | =============================== | |
| ANALYSIS OF NET ASSETS | BETWEEN FUNDS | |||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Investments | 3,379 | 3,379 | ||
| Current assets | 91 | 91 | ||
| Creditors less than 1 year | (33,515) | (33,515) |
||
| Creditors greater than 1 year | (38,324) | (38,324) |
||
| ------------------------------- | ------------------------------- | |||
| Net liabilities | (68,369) | (68,369) |
||
| =============================== | =============================== | |||
| Unrestricted | Total Funds | |||
| Funds | 2022 | |||
| £ | £ | |||
| Investments | 3,379 | 3,379 | ||
| Current assets | 30,032 | 30,032 | ||
| Creditors less than 1 year | (40,095) | (40,095) |
||
| Creditors greater than 1 year | (41,667) | (41,667) |
||
| ------------------------------- | ------------------------------- | |||
| Net liabilities | (48,351) =============================== |
(48,351) =============================== |
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
18. RELATED PARTIES
Included in the Financial Statements are donations of £90,750 received from Site Manage Ltd, its subsidiary undertaking. As at 31 March 2023, there was a balance of £28,724 due to Site Manage Ltd. No further transactions with related parties were undertaken such as are required to be disclosed.
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