**REGISTERED COMPANY NUMBER: 04501003 (England and Wales) REGISTERED CHARITY NUMBER: 1101241**
## **V.H.L.T LTD (A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2020**
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
**V.H.L.T LTD**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**|6|to|7|
|**Cash Flow Statement**||8||
|**Notes to the Cash Flow Statement**||9||
|**Notes to the Financial Statements**|10|to|14|
## **V.H.L.T LTD**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2020**
**TRUSTEES** Y Frand A Streicher Y Marmorstein R Frand **REGISTERED OFFICE** 61 Fairholt Road London N16 5EW **REGISTERED COMPANY** 04501003 (England and Wales) **NUMBER REGISTERED CHARITY** 1101241 **NUMBER INDEPENDENT EXAMINER** Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS **BANKERS** The Royal Bank of Scotland plc 40 Islington High Street London N1 8XB
Page 1
## **V.H.L.T LTD (REGISTERED NUMBER: 04501003)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
## **Reference and administrative information**
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
## **OBJECTIVES AND ACTIVITIES**
## **Object for public benefit**
The objects of the charity are to advance religion in accordance with the Orthodox Jewish faith and the relief of poverty, in particular by assisting individuals in need of food, clothing, shelter or medical services who are unable to afford these from their own means. The charity also supports educational and religious institutions and gives grants and scholarships to suitable qualified students.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
## **Grantmaking**
In general the trustees select the institutions to be supported according to their personal knowledge of work of the institution. Whilst not actively inviting applications, they are always prepared to accept any application which will be carefully considered and help given according to circumstances and funds then available.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The income and expenditure of the charity both rose by a small amount and there was a surplus for the year. During the year the charity continued its philanthropic activities and has maintained its support of organisations engaging in education, advancement of religion, and the relief of poverty. The charity also helped needy individuals and families..
## **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 were £124,678 (2019 - £96,574) of which £49,362 (2019 - £55,368) are free reserves.
## **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**
## **Constitution**
The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 1 August 2002.
## **Organisational structure**
The power to appoint new trustees is vested in the continuing board. 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 that the charity faces and confirm that they have established systems to mitigate them.
Page 2
## **V.H.L.T LTD (REGISTERED NUMBER: 04501003)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
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 20 July 2021 and signed on its behalf by:
Y Frand - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF V.H.L.T LTD**
## **Independent examiner's report to the trustees of V.H.L.T LTD ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2020.
## **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**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
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:
1. 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
3. 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
4. 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 Institute of Chartered Accountants in England and Wales Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
20 July 2021
Page 4
## **V.H.L.T LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2020**
|**2020**
**Unrestricted**
**fund**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
709,089
**EXPENDITURE ON**
Raising funds
3
25,168
**Charitable activities**
4
Charitable activities
656,317
**Total**
681,485
**NET INCOME**
27,604
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
96,574
**TOTAL FUNDS CARRIED FORWARD**
124,178|**2019**
**Total**
**funds**
**£**
693,625
27,207
628,377|
|---|---|
||655,584|
||38,041
58,533|
||96,574|
The notes form part of these financial statements
Page 5
## **V.H.L.T LTD (REGISTERED NUMBER: 04501003)**
## **BALANCE SHEET 31 AUGUST 2020**
|**Notes**
**FIXED ASSETS**
Tangible assets
9
**CURRENT ASSETS**
Debtors
10
Cash at bank
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
12
**NET ASSETS**
**FUNDS**
Unrestricted funds:
General fund
**TOTAL FUNDS**|**2020**
**Total**
**funds**
**£**
1
99,815
51,042
150,857
(1,680)
149,177
149,178
(25,000)
124,178
124,178
124,178|**2019**
**Total**
**funds**
**£**
1
41,305
58,508
99,813
(3,240)
96,573
96,574
-
96,574
96,574
96,574|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 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
## **V.H.L.T LTD (REGISTERED NUMBER: 04501003)**
## **BALANCE SHEET - continued 31 AUGUST 2020**
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 20 July 2021 and were signed on its behalf by:
Y Frand - Trustee
The notes form part of these financial statements
Page 7
## **V.H.L.T LTD**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020**
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
1
Loan received
Net cash (used in)/provided by operating activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|**2020**
**£**
(32,466)
25,000
(7,466)
(7,466)
58,508
51,042|**2019**
**£**
40,981
-|
|---|---|---|
|||40,981|
||||
|||40,981
17,527|
|||58,508|
The notes form part of these financial statements
Page 8
## **V.H.L.T LTD**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**|
|---|---|---|---|
|||**2020**|**2019**|
|||**£**|**£**|
||**Net income for the reporting period (as per the Statement of**|||
||**Financial Activities)**|27,604|38,041|
||**Adjustments for:**|||
||(Increase)/decrease in debtors|(58,510)|2,700|
||(Decrease)/increase in creditors|(1,560)|240|
||**Net cash (used in)/provided by operations**|(32,466)|40,981|
2. **ANALYSIS OF CHANGES IN NET FUNDS**
||**At 1.9.19**|**Cash flow**|**At 31.8.20**|
|---|---|---|---|
||**£**|**£**|**£**|
|**Net cash**||||
|Cash at bank|58,508|(7,466)|51,042|
||58,508|(7,466)|51,042|
|**Debt**||||
|Debts falling due after 1 year|-|(25,000)|(25,000)|
||-|(25,000)|(25,000)|
|**Total**|58,508|(32,466)|26,042|
The notes form part of these financial statements
Page 9
**V.H.L.T LTD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **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.
Donations are included in full in the Statement of Financial Activities when received.
## **Expenditure**
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance cost are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
## **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. DONATIONS AND LEGACIES**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
||**2020**|**2019**|
||**Unrestricted**|**Total**|
||**funds**|**funds**|
||**£**|**£**|
|Donations|709,089|693,625|
Page 10
## **V.H.L.T LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **3. RAISING FUNDS**
## **Raising donations and legacies**
|**2020**
**Unrestricted**
**funds**
**£**
Telephone
290
Postage and stationery
17,439
Advertising
7,439
25,168|**2019**
**Total**
**funds**
**£**
574
22,636
3,997|
|---|---|
||27,207|
**4. CHARITABLE ACTIVITIES COSTS**
|**4.**
**CHARITABLE ACTIVITIES COSTS**||||
|---|---|---|---|
|**Grant**
**funding of**
**activities**
**(see note**
**5)**
**£**
Charitable activities
651,064
**5.**
**GRANTS PAYABLE**
Charitable activities
The total grants paid to institutions during the year was as follows:
Relief of poverty
Education
Advancement of religion
Vaad Harabonim Israel
Olam Chesed Yiboneh
Keren Metzuda
Others under £12,000
The total grants paid to individuals during the year was as follows:
Relief of poverty||**Support**
**costs (see**
**note 6)**
**£**
5,253
**2020**
**£**
651,064
**2020**
**£**
572,739
41,445
5,580
619,764
572,633
19,500
12,092
19,509
619,764
**2020**
**£**
31,300|**Totals**
**£**
656,317|
||||**2019**
**£**
624,006|
||||**2019**
**£**
421,876
8,020
169,460|
||||599,356|
||||**2019**
**£**
24,650|
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
Page 11
## **V.H.L.T LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **6. SUPPORT COSTS**
|**Finance**
**£**
Charitable activities
1,685
Support costs, included in the above, are as follows:
**Finance**
Bank charges
**Other**
Sundry expenses
**Governance costs**
Independent examiner's fee
Independent examiner's other fees
General expenses
Legal and professional fees|**Governance**
**Other**
**costs**
**Totals**
**£**
**£**
**£**
419
3,149
5,253
**2020**
**2019**
**Charitable**
**Total**
**activities**
**activities**
**£**
**£**
1,685
2,055
**2020**
**2019**
**Charitable**
**Total**
**activities**
**activities**
**£**
**£**
419
419
**2020**
**2019**
**Charitable**
**Total**
**activities**
**activities**
**£**
**£**
480
480
1,200
1,200
769
217
700
-
3,149
1,897|
|---|---|
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
Page 12
## **V.H.L.T LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **8. AVERAGE STAFF NUMBERS**
The average number of staff in the year was Nil (2019 - Nil).
## **9. TANGIBLE FIXED ASSETS**
|**COST**
At 1 September 2019 and
31 August 2020
**DEPRECIATION**
At 1 September 2019 and
31 August 2020
**NET BOOK VALUE**
At 31 August 2020
At 31 August 2019
**10.**
**DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Other debtors
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accruals and deferred income
Accrued expenses
**12.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Bank loans (see note 13)
**13.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal|**Computer**
**equipment**
**£**
557
556
1
1
**2020**
**2019**
**£**
**£**
99,815
41,305
**2020**
**2019**
**£**
**£**
(1,560)
-
3,240
3,240
1,680
3,240
**2020**
**2019**
**£**
**£**
25,000
-
**2020**
**2019**
**£**
**£**
25,000
-|
|---|---|
Page 13
**V.H.L.T LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 August 2020.
Page 14