REGISTERED COMPANY NUMBER: 02871917 (England and Wales) REGISTERED CHARITY NUMBER: 1101119
Report of the Trustees and
Unaudited Financial Statements FOR THE YEAR ENDED 30 November 2023
for
HAZLEMOUNT LIMITED
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
HAZLEMOUNT LIMITED
Contents of the Financial Statements FOR THE YEAR ENDED 30 NOVEMBER 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 |
HAZLEMOUNT LIMITED (REGISTERED NUMBER: 02871917)
Report of the Trustees FOR THE YEAR ENDED 30 NOVEMBER 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 30 November 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 objectives of the charity are to advance religion in accordance with the orthodox Jewish faith.
The charity uses available resources in order to further its charitable activities.
Public benefit
Each year the trustees review their charitable objectives and activities to ensure that they continue to reflect the trustees aims. In carrying out their review the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance, with focused regard towards the advancement of the Orthodox Jewish faith and all of its facets for the public benefit.
ACHIEVEMENT AND PERFORMANCE
The charity achieved a level of growth during the year which has been accumulated in line with expectations and to strengthen the charity's future ability to support charitable causes.
FINANCIAL REVIEW
During the year, the charity had total income of £27,694 (2022: £33,894), expenditure of £7,317 (2022: £7,163) and a surplus of £20,377 (2022: £26,731) which enhanced the charitable reserves of the charity for future use.
FUTURE PLANS
The trustees plan for the charity to continue its charitable activities in the similar means to previous years.
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 managed exclusively by 3 trustees.
Training
The charity's trustees periodically evaluate possible training requirements to best suit the charity's objectives.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
02871917 (England and Wales)
Registered Charity number 1101119
Registered office
First Floor, Winston House 349 Regents Park Road London N3 1DH
Trustees
Mr J Lipschitz Mrs F Lipschitz Mr M Twerski
Company Secretary
Mrs F Lipschitz
Page 1
HAZLEMOUNT LIMITED (REGISTERED NUMBER: 02871917)
Report of the Trustees FOR THE YEAR ENDED 30 NOVEMBER 2023
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 12 August 2024 and signed on its behalf by:
Mr J Lipschitz - Trustee
Page 2
Independent Examiner's Report to the Trustees of Hazlemount Limited (Registered number: 02871917)
Independent examiner's report to the trustees of Hazlemount Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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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
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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.
Danny Fine, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
12 August 2024
Page 3
HAZLEMOUNT LIMITED
Statement of Financial Activities (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 30 NOVEMBER 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 12,150 Investment income 2 15,544 Total 27,694 EXPENDITURE ON Raising funds 3 5,849 Charitable activities Charitable activities 1,469 Total 7,318 NET INCOME 20,376 RECONCILIATION OF FUNDS Total funds brought forward 544,801 TOTAL FUNDS CARRIED FORWARD 565,177 |
2022 Total funds £ 15,650 18,244 33,894 4,569 2,594 7,163 26,731 518,070 544,801 |
|---|---|
The notes form part of these financial statements
Page 4
HAZLEMOUNT LIMITED (REGISTERED NUMBER: 02871917)
Balance Sheet 30 NOVEMBER 2023
| Notes FIXED ASSETS Investment property 5 CURRENT ASSETS Debtors 6 Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 8 NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS |
2023 Unrestricted fund £ 651,195 24,900 1,962 26,862 (41,972) (15,110) 636,085 (70,908) 565,177 565,177 565,177 |
2022 Total funds £ 651,195 24,900 746 25,646 (47,171) (21,525) 629,670 (84,869) 544,801 544,801 544,801 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 12 August 2024 and were signed on its behalf by:
Mr J Lipschitz - Trustee
The notes form part of these financial statements
Page 5
HAZLEMOUNT LIMITED
Notes to the Financial Statements FOR THE YEAR ENDED 30 NOVEMBER 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.
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
| Rents received | 2023 £ 15,544 |
2022 £ 18,244 |
|---|---|---|
continued...
Page 6
HAZLEMOUNT LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 NOVEMBER 2023
3. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Interest payable and similar charges | 5,849 | 4,569 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 November 2023 nor for the year ended 30 November 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 November 2023 nor for the year ended 30 November 2022.
5. INVESTMENT PROPERTY
| FAIR VALUE At 1 December 2022 and 30 November 2023 NET BOOK VALUE At 30 November 2023 At 30 November 2022 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 9) Trade creditors Other creditors Accruals and deferred income |
2023 £ 24,900 2023 £ 31,052 3,635 6,384 901 41,972 |
£ 651,195 |
£ 651,195 |
|---|---|---|---|
| 651,195 | |||
| 651,195 | |||
| 2022 £ 24,900 |
|||
| 2022 £ 36,728 3,635 5,909 899 |
|||
| 47,171 |
continued...
Page 7
HAZLEMOUNT LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 NOVEMBER 2023
| 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 9) 9. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years 10. RELATED PARTY DISCLOSURES |
2023 £ 70,908 2023 £ 31,052 70,908 |
2022 £ 84,869 |
|---|---|---|
| 2022 £ 36,728 |
||
| 84,869 | ||
The following donations were received during the year from related parties who are under common control:
| Name of Related Party | Amount (£) |
|---|---|
| Beis Aharon Charitable Trust Ltd | 2,800 |
| Bellamore Trading Ltd | 4,300 |
| Grovepalm Ltd | 600 |
| Maplecroft Consultants Ltd | 3,800 |
| Yad Vochessed Association Ltd | 650 |
| Total related party transactions | 12,150 |
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