COMPANY REGISTIL4TION NUMBER: 04895107 CHARITY REGISTRATION IWMBER: 1101385 YBP LIMITED Company Limited by Guarydntee FINANCIAL STATEMINTS FOR THE YEAR ENDED 30 SEPTEMBER 2013 COHEN ARNOLD Cbartered accountants & statutory audilor New Burlington House 1075 Finchley Road LONDON NWI I OPU
YBP LIMITED COMPANY LIMITED BY GUARAiYfEE FIIYANCIAL STATEMENrs YEAR ENDED 30 SEPTEMBER 2023 PAGES Trust¢es' annual report (inCOrrating the directorfs r¢port) Independent auditor's report to the members ststement of financial activities (including income and expendittwe account) Statement of fllwicial position Statement of cash flows Ito4 5t08 io li Notes to the financial statements 12to19
YBP LIMITED COMPANY LIMITED BY GUA114NTEE TRUSTEES, ANNUAL REPORT ONCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 30 SEVTEMBER 2023 The tnjstees, who are also the directors for the purp)s¢s of company law, present their report and the financial statements of the charity for the year ended 30 September 2023. REFERENCE AND ADMllYISTRATIVE DETAILS Registered ¢harity name Charity r¢gistrntion number Company Tegistration Dumber 04895107 Principal office and regislered New Burlington House office 1075 Finchley Road IA)ndon NWI I OPU YBP Limited 1101385 The trustees MT S Berger Mrs S Rapaport Mr Z Beck Mr A C Rapaport Mrs S Rapaport Cohen Arnold Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONDON NWII OPU Company seerelary Auditor
YBP LIIWITED COMPANY LIMITED B Y GUARANfEE TRUSTEES, ANNUAL REPORT UNCOIIPORATING THE DIRECTOR'S REPORT) YEAR ENDED 30 SEPTEMBER 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT The Charity is constituted &$ a Company Limited by Guarantee. and is therefore governed by its Memorandum and Articles of Association. The Trustees administer the day-t(Fday affairs of the Charity. All Trystees give their time voluntsrily and no benefit or expense was paid to them in the year. It is not currently the intention of the Trustee5 of the Charity to aptmiint new Trustees. Should the situation change in th¢ future. the Trnst¢¢s will apply suitable recrnitment trnining and induction proealures. Group Structure and Relationshi Th¢ Charity has the following nonvcharitabl¢ operdting subsidiaries: Per¢eDtsge Holding Compxlly Ablepine Limited Apexrule Limited Gillis Properties Limited Property Investment The shares in each of the above companies are held directly by YBP Limite(L except for the shares in AtKxrule Limited whi¢h are held by Abl¢pine Limited. The subsidiary UDd¢rtakings are administered by the Dirtttors of those companies, Mr A C Rapaw>rt and Mrs S RapapoJL who ore also Trustees of this company. Risk Management The Trustees have identified and reviewed th¢ major risks to which the Charity is ex)Sed, in particular those relating to the operations and finances of the ChaTity, and are satisfied that the systems are in place to manage those risks. ORIECTIVES AND ACftVlTtES The Charities objectives. as defined in its governing d(Kumellt, are to womote any charitable pwposes for the benefit of the members of the Orthodox Jewish community, and in particular the advancement of education. the relief of poverty. sickness, hardship and distres4 and such other purw)ses as are recognised by English Law as charitable. The Charity receives donations from its subsidi8ry und¢rtaking5 and related companies, and some investment income from an interest bearing deposit account. The aim is to distribute these profits to or8anisations that fall within the objectives of ih¢ Charity. The Trustees confirni their compliance with the duty to have du¢ regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and obj¢¢tives and in planning futur¢ activities. Registration No. 03348395 02731713 ature of Business Holding Company Property Investment lo10 10(W/o 04785100 IOIP/o
YBP LILkUTED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (CLTrnrinMed) YEAR ENDED 30 SEPTEMBER 2023 ORJECTIVES AND ACTIVITIES (conth4erfl Grant makiDg policy The Trustees are approached for donations by a wide variety of charitable institutions operating in the United Kingdom and abroad. The Trustees consider all requ¢sls which they receive and make donations b8s¢d on the level of funds available. ACIUEVEMENTS AND PERFORMANCE The Charity made grants totalling £518,560 (2022.. £520,765) during the period. All rtts and donations paid were for the purposes of the Charity's objects includin8= Financial support to the poor Relief of sickness and disabilities Jewish education and places of worship for the Jewish Community FINANCIAL REVIEW FinanelAI Po8i¢ion The fitwicial ltIOn of the Charity and its subsidtaries is satisfactory. The Charity's Financial Statements show a net def1t of £156,546 (2022.. net surplus of £303,372) for the year and total reserves of £6,696,866 {2022: £6.338,412). Income from donations received and investments during the year amounted to £381,432. Totsl resources exnded were £537,978. The financial results of the Charity's activities for the year to 30 September 2023 fully reflected in the attached Financia] Statements together with the Notes ihereon. Reserv&8 Policy It is the tKTrlicy of ih¢ Charity to maintain unrestricted funds at a level which the Trustees consider appropriate after taking account of its future committnents. Principal Funding Sources The Charity's principal funding sources in the year were tts invesknent portfolio, together with donations received from subsidiary Companies. Investment Policy rdDd Objeetives Under the Memorandum and Articles of Association, the Charity has the power to make any investments which the Trustees see fit provided any monies are not immediately required for use in connection with any of its objects. The Charity's investment tK)licy is to maximise its inc(fft¢ and gains so that its chariiable objectives b¢ maintained and expanded. However. having 82rd to liquidity requirements, the Trnstees have also operated a policy of keeping available funds in an interest bearing deposit a¢¢ount. PLANS FOR FtrruRE PERIODS The Tn&stees plan to continue making distributions in accordance with their grant-making policy and to ensur¢ that the ability to generats sufficient income is maintained to achieve that end.
YBP L[UTED COMPANY LIMrrED B Y GUARANTEE TRUSTEES, ANNUAL REPORT {INCORPORATtNG THE DIRECTOR'S REPORT) (conlinHedJ YEAR ENDED 30 SEPTEMBER 2023 TRUSTEES, RESPONSIBILrriES STATEMENT Th¢ trustees, who are also dirtorS for the purposes of company law, are responsibl¢ for preparing the trnstees, report and the financial statements in accordance with applicable law 8J)d United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law reqllires the charity trustees to prepare financial statements for each y¢ar which give a trne and fair view of the state of affairs of the charitable company and the incoming resources application of resou¢$, including the income and expenditure, for that period. In pr¢paring these financial statements, the ttust¢¢s are required to.. select suitable ac¢i)unting policies and then apply them consistently: observe the methods and principles in the applicable Charities SORP. make judgments and accounting estimates that are reusonable and prudent" prepare ihe financial statements on the going concern basis unl¢ss it is inappropriat¢ to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sutTicient to show and explain the charity's transactions and dI109e with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statetnents Comply with the Companies Act 2006. They are alw responsible for safeguarding the assets of the charity and hence for taking reasonabl¢ sieps for the prevention and detection of fraud and other irregulariti¢s. AUDITOR Each of the persons who is a tNst¢¢ at the date of approval of this report ¢onfirnis that: so far as they are awar¢. there is relevant audit infomiation of which the charity's auditor is unaware; and they have taken all steps that they ought to hav¢ taken as a ttu$t¢e to make themselves awar¢ of any relevant audit information and to establish that the charity's auditor is aware of that inforniation. SMALL COMPANY PROVISIONS This report has been prepared in accordance with the provistons applicable to wmpanies entitled to the small ¢ompanies exetnption. The trust¢¢s' annual report was approved on .30 JQLY.. 2eL*.. and signed on behalf of the board of trustees by: aP-Pc4 Mrs S Rapaport Charity Sretary
YBP LIllllTED COMPANY LIMITED B Y GUARANTEE INDEPEIWENT AUDITOR'S REPORT TO THE MEMBERS OF YBP LiIKrrED YEAR ENDED 30 SEPTEMBER 2023 OPINION We have audited the financial slatements of YBP Limited (the 'charity') for the year ended 30 September 2023 which comprise the statement of financial tIVItieS (includin8 inwme and expenditure coUnt), statement of financial position, statement of cash flows and the relatd notes, including a summary of significant accounting policies. The fancIal reporting frdmework that has beerL appli1 in their preparation is applicable law and United Kingdom Accounting Standard5, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kin8dom Generally Accepted Accounting Practice). In our opinion th¢ financial stafrments-. give a Irue 8nd fair view of th¢ state of the chariws affairs as at 30 September 2023 and of its incoming resources and application of resources. including its income and expenditure, for the year then ended. have been properly prepared ID accordance with United Kingdcffl Generally Accepted Accountin8 Practice. have ken prepared in accordanee with the reqU1ments of the Companies Act 21Ki6. BASIS FOR OPINION We conducted our audit in accordance with Lnternational Standard5 on Auditing (UK) (ISAS (UK)) and applicabl¢ law. Our responsibilities under those standards are further described in th¢ auditorfs responsibilities for Ihe audit of th¢ financial statements section of our report. We are indeEkndent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and we have lfIlled our other ethical responsibilities in accordance with these reqUIreentS. We believe that the audit evidence we have obtained is suificient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING COP4CERN In auditing the financial slatements, we hav¢ concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfome& we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least tw¢lve months from when the financial 5tatem¢nts are authorised for issu¢. Our responsibilities and the responsibilities of the truslees with resp¢¢t to going concern are described in the relevant sections of this report.
YBP LIMITED cohtPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YBP LIMrfED {cvrtlnHedJ YEAR ENDED 30 SEPTEMBER 2023 OTHER INFORMATION The other inforniation comprises the infornlation included in the annual reporL other than the financial statements and our auditor's rew)rt thereon. The trustees are responsible for the other inforniation. Our opinion on the financial statements does not ¢over the other infonnation and, except to the extent otherwise explicitly stated in our report, we do not express any form of a&surance conclusion thereon. In connection with our audit of the financial statement4 our responsibility is to read the other information and. in doing so. consider wh¢ther the other inforn)ation is materially inconsistent with the financial ststements or our knowledge obtained in the audit or othenvise appears to be materially misstated. If we identify such material ineonsistencies or apparent material misstatements. we are required to deterniin¢ wheth¢r there is a material misslatemtnt in the fmancial statements or a material misstatetnent of the other infomiation. If, based on the work we have performel we conclude that there is a materiat misslat¢ment of this other infonnation, we are required to report that fa¢L We have nothing to report in this regard. OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 21M16 In our opinion, based on the work undertaken in th¢ Course of th¢ audit= the infornlation given in the trustees, rert for the financial year for which th¢ financial statements are prepared is consistent with the financial statements" and the tntstees, Teport has been prered in awordan¢e with applicable legal requiments. MATTERS ON WHtCH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audi( we have not identified material mis5tstetnents in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 20{ requires us to report to you if. in our opinion: adequate accounting records have not been kepl or returns ad¢quafr for our audit have not been received from branches not visited by us; or the financial statem¢nts atr not in agreement with the accounting records and returns. or ¢rtain disclosures of ttwstees, remuneration sp¢¢ifi¢d by law are not made. we have not received all the inforniation and explgnation5 we require for our audit; or the trustee5 wer¢ not ¢ntitled to prepare the flnancial statements in accordance with the small companies regime and tske advantage of the small companies, exemptions in prepartn8 the directors, report and from the requirement to prepare a strategic report.
YBP LIMITED COMPANY LIMITED BY GUARANTEE tNDEPENDENT AUDITOR'S IiEPORT TO THE MEMBERS OF YBP LIMITED YEAR ENDED 30 SEvfELIqBER 2023 RESPONSIBILITIES OF TRUSTEES As explained more fully in the trustees, responsibiliti¢s slatemen¢ the knwstees (who are also the directors for the purwses of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the prep&rdtion of financial tht¢ments that are free from tnaterial misstst¢ment, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disc105ing, as applicable, matters related to 80in8 concern and using the going concern basis of ac¢ounting unless the trustees either intend to liquidat¢ the charity or to cease operations. or hav¢ no realistic alternative but to do so. AUDrroR'S RESPONSIBILrriES FOR THE AiJDrr OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial stat¢m¢nts &$ a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in a¢¢ordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements ¢an arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economi¢ decisions of users taken on the basis of these financial statemertts. Irregularities, includin8 fraud, are instances of non-¢ompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, in¢luding fraud. The extent to which our procedures are capable of detecting Irre8ularities, including fraud is detailed below.. We obtained an understanding of the legal and regulatory frameworks that are applicable to the company through discussion with the directors and s¢nior management and identified which were most significant with respect to the financial ststements. We identified financial reporting legislation (including related Companies legislation), charities legislation and taxation legislatio being most significant to these financial statements. We communicated these identified frameworks throughout our audit team and remained alert to any indications of non-compliance throughout the audit. We ensured that the engagement tM had sutricient competence and apability to identify or recognise non-compliance with laws and regulations. We discussed with the directors and senior management the poli¢i£8 Io¢edr¢S regarding compliance with these legal and gUlatOry frdmeworks. We assessed the susceptibility of the ¢ompany's financial statements to material misststement due to non-compliance of legal and regulatory fralneworks, including how fraud tnight occur, by enquiry with the directors and senior management during the planning and fin&lisation phases of our audit and using proprietary disclosure ch¢¢klists. Thi5 was detemiined to be low. Based on this understanding we desig)ed our audit procedures to identify non-compliance with the identified legal and regulatory framework, which were part of our proc¢dures on the related financial statement ilems. Our procedures included reviewing the company's internal controls policies and EYw¢dures, reviewing the minutes of board meetings and cotTespondence with regulatory bodies including HMRC, testlllg transactions outside the normal course of the business and journal entries, and discussions with the dirlorS and senior management.
YBP LIMrrED COMPA1 LIMfTED BY GUARANTEE INDEPENDENf AUDITOR'S REPORT TO THE MEMBERS OF YBP LIMITED YEAR EIYDED 30 SEPTEMBER 2023 A fiher descriptton of our Tesp)nsibililies for the alIt of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description fornis part of our auditor's report. USE OF OUR REPORT This rert is made solely to the Charity's members, as a b(xly, in accordance with Chapter 3 of Part 16 of the Companies Ad 2006. Our dit work has been undertaken so that we might state to the Charity's memb¢tB those matters we are quIred to state to thern in an audito¢s report and for no other pu]pose. To the fullest exteTrt permitt by law. we do not accept or Surne responsibility to anyone other than the charity and the charity's members as a body. for our audit worL for this repor( or for the opinion5 we have fornied. Asher Sternlicht (Senior Statutory Auditor) For and on behalf of Cohen Arnold Chartered accountants & statutory auditor New Burlington House 1075 FirKhley Road LONt)ON Nwi I OPU 3tr 2ozy
YBP LIMITED COMPANY LIMITED B Y GUARAPITEE STATEMEiYf OF FINANCIAL ACTIVITIES NCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 30 SEPTEMBER 2023 2023 Unrestricted funds Totsl funds Total funds 2022 r4ote Income and endowments Donations and legacies Investment income 352,000 29,432 352,000 29,432 825,000 13,230 838,230 Total income 381.432 381,432 Expenditure Expenditure on rnising funds.. Investment manag¢ment cost5 Expenditure on charitable a¢tivitie8 Total expenditure (4,033) (4,033) (10,712) 89 (533,945) (533,945) (524,146) (537,978) (537,978) (534,858) Net 8ains/(losses) on inveslm¢nts 12 515.000 515,000 (265,446) Net income and net movem¢nt in funds 358,454 3S454 37.926 Reeoneili*tion of funds Total funds brought forward Total lld$ earried ft•rw4nl 6,338.412 6J38,412 6.300,486 6,338,412 6,696.866 6ffj96J66 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure deriv¢ from continuing a¢tivities. The Do¢es pages 12 to 19 form part of thtst finfincial stltemtnts.
TrTP LIMfTED COMPANY LIMITED BY GUARANTEE STATEMENf OF FINANCIAL POSITION 30 SEPTELIIBER 2023 2023 2022 Note Fixed Investments 15 6,145,iMN) 5,630,000 Current assets Debtors Cash at bank and in hand 16 16,(KlO 586011 I6,0 763.264 602011 779264 Creditors: amounts f41iing due witbin one ye#r 17 (50.945) {70.852) Net current Sets 551,866 708,412 6,338,412 Total wets less current liabilities 6ffj96066 Fllnd5 of the charity Unrestricted funds 6th96066 6,338,412 6,338.412 Tot charity funds 18 6th96I66 These financial statements have been prepared in accordance with the provisions applicable to ompanies subject to the small compani¢s' regime. These financial statements were approvd by the Ix)ard of trustees authorised for issue on 30 %lVL.¥. 2cZt.., and are signed on behalf of the board by". Mrs S Rapaport Trustee ACR Tnjstee The notes on pages 12 to 19 form plrt olthtse financial statement5. io
YBP LIMITED cofvtPANY LIMITED B Y GUARANTEE STATEMENT OF CASH FLOWS YEAR ENDED 30 SEPTEMBER 2023 2023 2022 Cash flows fn)m operating activities Net income 35&454 37.926 Adjuslmentsfor." Net g&insl(10sses) on investments Dividends. interest and rents from investments Other interest receivable and similar income Non-cash donations received (SA5,0) (26J40) {3,092) 265,446 (13,180) (50) (425.000) Changes in.. Trade and other creditors (19,907) (205,885) 3,092 47,822 Cash g¢n¢rated from operations Interest received (87.036) 50 Net $h used in operating activities Q02,793) {86.986) Cash flows frotn inves¢lDg activities Dividends. interest and rents from irkvestments Pur¢h&ses of other inveslments 26,340 13,180 (104,065) (90,885) Net cash froml(used in) investing activities 26,340 Net de¢rease in casb and eash equivaIents CAsh and eash equivalents at beginnillg of year CAsb aDd Cash equivaleuts at end of year (176,453) (177.871) 763,264 941,135 586011 763,264 The no¢e5 011 P*8ts 12 to 19 form pArt of these fiThanckn815tHtements. li
YBP LIMtTED COMPANY LIMITED BY GUARANTEE NOTES TO THE FIIYANCIAL sTATElENTs YEAR ENDED 30 SEPTEMBER 2023 GENERAL INFORMATIO 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, NWI I OPU. STATEMENT OF COMPLIANCE These financial slatements have been prepared in compliance with FRS 102, 'The Financial R¢porting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Pra¢ti¢e applicable to ¢hariti¢s preparing their a¢counts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and th¢ Companies Act 2006. ACCOUNTING POLICIES Bgsis ofpreparntion Th¢ 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 incom¢ and expenditure. The ¢harity meets the definition of a public benefit entity under FRS 102. The financial statements are prepared in sterling, which is the functional curr¢n¢y of the entity. Going concern Th¢re are no material uncertainties about the ¢haTity'S ability to conlinue. Consolidation The charity is not required to prepare consolidated Unts in accordance with the Chariti¢s Act 201 l. and has taken advanta8e of the option not to prepare Consolidat financial statements contained in Section 398 of the Companies A¢t 2006 on the basis that the charity and its subsidiary undertakings comprise a small group. Judgements and key source8 of ostimation uncertainty In the applicalion of the company's accounting li¢jeS. the directors are required to make judganents, estimates and assumptions about the canying amounts of assets and liabilities that are not readily apparent from other sources. Th¢ estimates and associated assumptions are based on historical experience and other factors that are ¢onsid¢r¢d to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions A reviewed on an ongoing basis. Revisions to accounting estimal¢s are recognised in the period in which the estimate is rewised if the revision affects only that period, or in the period of the revision and future rKriods if the revision affects both current and future periods. The valuation of investment properties is inherently subjtiVe. depending on many factors, including the individual nature of each property, its location and expected future net rental values, market yields and comparabl¢ market transactions. Therefore the valuations are subject to a degree of uncertainty and are made on the basis of assumptiotts which may not prove to be accurate, particularly in periods of difficult market or economic conditions. 12
YBP LILkllTED COMPANY LIMITED B Y GUA114NTEE NOTES TO THE FINANCIAL STATEMENTS (wllnAed) YEAR ENDED 30 SEPTEMBER 2023 ACCOUNTING POLICIES (cortirne41 TaI&tion The Charitabl¢ Company is not liable to direct taxation on its inc(Ane as it falls within the various exemptions available to registered chariti¢s. The subsidiary undertakings ar¢ subject to Corporation but it is expected that thetr income will k gifted for charitable puryoses and should be exempt from ttion. Notwithstanding Ihe above, deferred tax is recognised in reS¢t of all timing diiferences present in the non-charilabl¢ subsidiary undertakings. Unrelieved tax losses and other deferred tax &ssets are recognised to the ¢xtent that it is probable that they will be recovered against the rev¢rsal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the lax rates and laws that have ix¢n enacted or substantively ¢na¢t¢d by the reporting date that are expected to apply to the tEv¢rsal of the timing difference. Fund atcollnling Unrestricted funds are available for use at the diwretion of the trusfres to rther any of the charity's purposes. Ineoming regourees All income is included ID the statsment of financial activities when ¢ntitlement has passed to the charity) it is probable that the economic benefits associated with the transaction will flow to the ChltY and the amount can be reliably measured. The following sp¢¢ific policies are applied to particular categories of income- income from donations or grants is recognised when there is evidenc¢ of entitlement to the gill receipt is probable and its amount can be measured reliably. Resoure&s expended Expenditure is recognised as soon as there is a present obligation committin8 the Charity to pay out tEsources, it is probable that a transfer of economic benefits will be required in settlement and the amount can IK measur¢d or estimated reliably. Grants payable are only recognised in the accounts when paid. Investment mallagemellt costs Investment management costs includ¢ costs relating to th¢ investment properties on an accrual basis. Support costs Support costs are those costs which are comfflon to all ar¢as of the organlsation. These are allocated across all areas of activity on the basis of the Dumber of service users for ¢a¢h activity. GovernaDee costs Governance costs are associated with th¢ governance arrangements of the charity and relate to the general running of the charity. The Costs include audit, legal advice for Trust¢es and wstS associated with meeting constitutional and statutory requirements such as the cost of Trustee meetings and the preparation of the statutory accounts. 13
YBP LIMITED COLIiPANY LIMITED B Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2023 ACCOUNTING POLICIES Investments Unlisted equity investments are initially recorded at cosL and subsequently measured at fair value. Investment property InvestrThent properties are recognised initially at cost. Subsequent to initial recognition - Investment properties whose fair value can be m¢&sured reliably are held at fatr value. AJ)y gains or losses arisin8 from changes in the fair value are recognised in the profit and loss 2Lcount in the per)d that they arise. and No depreciation is provKled in respect of investment properties applying the fair value model. InveStent property fair value is determined by the Trustees, based on their understanding of property market conditions and the specific property concerned, using a sales valuation approach. derived from recent Compardble transactions and market yields, adjusted by applying discounts to reflect status of occupation and condition. Impairment of fixed assets A review for indicators of impairnient is carried out at each reporting date. with the recovernble amount being estimaied where such Indit0[$ ¢xist. Where the ¢arrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairnients are also reviewed lor possible reversal at each reporting date. illanci41 instruments Financial instruments classified and accounted for. according to the substance of the contractual arTangemenL as eith¢r financial assets, fInclaI liabilities or equity instruments. An equity instrument is any contract that evidences a residual inlerest in the assets of the Company after deducting all of its liabilities. LNITED BY GUARANTEE The Charity is a Company Limited by Guarantse and has no Share Capital. DONATIONS AND LEGACIES Unrestricted Total Funds Unrestricted Totat Funds Funds 2023 Funds 2022 Dollatiolls Ixbnations received 351000 352.0(M) 825.000 825,000 14
YBP LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE F1Tr4ANCIAL STATEMENTS (co•rfwied) YEAR ENDED 30 SEPTEMBER 2023 INVESTMENT INCOME Unr¢stri¢t¢d Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Income from inve5tm¢nt properties Bank interest receivable 26.340 3,092 29.432 26J40 3J)92 13,180 50 13,180 50 29.432 13,23 13,230 INVESTMENT MANAGEMENf COSTS Unrestricted Totsl Funds Unrestricted Total Funds Funds 2023 Funds 2022 Investment property oiilgoings 4,033 4033 10.712 10.712 EXPENDrruRE ON CHARABLE ACTtVTfiES BY FUND TYPE Unrestricted TotAI Funds Unr¢strirted Total Funds Funds 2023 Funds 2022 Donations paid Printing expenses Support costs 518,560 9,560 5.825 518560 960 S025 533945 520.765 520.765 3J81 524,146 3J81 524,146 533.945 EXPENDrfuRE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE Activiti¢s undertak¢n dirtlY Grant funding of tivities Support costs Total fuDds 211LI Total fid 2022 Donations paid Printing expenses Governance costs 518,560 518560 9560 5125 520,765 9,560 5,825 3J81 524,146 9,560 518,560 5,825 $33,945 10. ANALYSIS OF SUPPORT COSTS L£gal and professional fees Audit fees Total 2023 Total 2022 Gov¢rnan¢e costs 215 5,610 5025 3,381
YBP LIMITED COMPAIYY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (couthuedj YEAR ENDED 30 SEPTEMBER 2023 11. ANALYSIS OF GRAs 20LI Grants to institutions Noam Hatorah (London) Mifal Hachesed Vehatzedokoh Satmar Kollel Friends Of M¢r¢az Hatorah Belz Macnivka Friends of Bels Chinuch L£bonos Trust Friends Of Bels Soroh Schneirer The ABC Trust College for Higher R&bbinical SdIes The ZSV Trust Chasdei Sholom One Heart Lev Echod Ezer Viznitz Foundation Kollel Shomrei Hachomos Mifal Tzedoko V'chesed Limited Start Upright Tchabe Kollel Limited Other grants below £15.000 Total grants 50,Th)0 38,IN)O 38,IM)O 37,(M)O 30.(M)O 24.(M)O 20,(MIO 20,IKID 20,(M)O 17,(KlO 17,(KlO 15,(KlO 15,(KlO 15,(KlO 15,(MlO 15,(KlO 132560 5185()O All grants relate to the advancement of education. and the relief of poverty. sickness, hardship and distress. 12. GAINSI(LOSSES) ON INvEsTMEs Unreslricted Total Funds Unrestricted Total Funds Funds 20LI Funds 2022 Surplusl(Deficit) on revaluation of investment properties Surplus/(Deficit) on revaluation of investments in group undertakings 25,000 25,fft)O (4.065) (4,065) 490.000 490,000 515,000 (261.381) (261,381) (265.446) (265,446) 515,000 13. AiJDITORS REMUNERATION 2023 2022 Fe¢s payable for the audit of the financial statements 5.610 3,150 16
YBP LIikUTED COMPANY LIMITED B Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS loJJMiHued) YEAR ENDED 30 SEPTEMBER 2023 14. TRUSTEE REMUNERATION AND EXPENSES No salaries or wages have been paid to any employee or Trustee by th¢ Charitable Company. No Trust¢¢ expenses have been incurred. 15. INVESTMENTS Shares in Investment group (Xher properties undertakings investments Totsl Fair vAlue At l October 2022 Additions Fair value movements 525.000 5,012,000 93.0 5A30.IMIO 25,000 490.000 51&01M) 6,145,tM)o At 30 September 2023 Imp4irment At l October 2022 and 30 September 2023 Carrying amount At 30 September 2023 At 30 S¢pt¢mber 2022 550,000 5502.000 93,iJ)O 550,000 5502,000 93,000 93,iJ)O 6,145,lJ)O 5,630.IK>O 525,000 5.012,(M)O All investments shown above are held at valuation. Inve8tmeDt properties The Company's investment properties were valued by the trnstees at 30 September 2023 based on the trustees, understanding of property market conditions and the specific property co¢med using a sales valuation approach, derived from recent comparable trdnsactions on the mark¢( adjust by applying discounts to refl¢ct slatus of IKcupation and ¢ondition. In the ¢v¢nt of the reali5ation of the CoMpanS investment proFrties at an amount equal to the valuation recorded in the financial statements. no liability to corporation tax on chargeabl¢ gains would arise because it is anticipated that all realised surpluses from the sale of investments will be appli for charitsbl¢ purposes and therefo will be exempt from corporation tax. The historical cost of the properties is £529,065. 17
YBP LIMtTED COMPANY LIMITED B Y GUARAwfEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2023 15. INVESTMENTS sIre5 in group undertakings The Company held IOO/r of th¢ issued share capital in Ablepine Limited, Apexrule Limited and Gillis Properties Limited which are incorporated in Great Britain and registered in England. The issued share capital of Ablq)ine Limited and Gillts Pmperties Limited are held directly by the Company and the issued share capital of AFArul¢ Limited is held by Ablepine Limited. The capital and reserves and profit and loss of the Subsidiary undertakings for which Group Accounts have not been prepared under th¢ exemption conf¢nrd by Section 398 Companies Act 2006 are as follows-. Aggregate capital and reserv 2023 2022 Ablepine Limited Apexrule Limited Gilli5 Properties Limited ProfitlLAJss for tbe year 337,702 4ffi41,073 520,772 338.3 88 4283,755 390,532 2023 2022 Ablepine Limit Apexrule Limited Gillis Properties Limited 16. DEBTORS (686) 357,318 131K240 (621) (227,078) (33,442) 2023 2022 (hher debtors 16,000 16.000 17. CREDITORS: amounts falling due Tvithin one year 2023 2022 Trade creditors (hher ¢reditor5 25J35 25,610 47.642 23.210 70.852 50.945 18
YBP LIMITED COMPANY LIMITED B Y GUARANTEE NOTES TO THE FINAIYCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2023 18. ANALYSIS OF CHARrrABLE FUNDS Unrestricted funds Atl October 2022 At30 Gains and September losses 2023 Income Expenditure General funds 6.338,412 381,432 (537,978) 515,000 6ffj96066 Atl October 2021 At30 Gains and September losses 2022 In¢ome Expenditure General funds 6,300,486 838,230 (534,858) {265,446) 6J38,412 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unr¢stricted Totsl Funds Funds 2023 Investments Current assets Creditors less than l year Net assets 6.145,000 602,811 (50,945) 6.696.866 6,145,IM)O 602,811 (50,945) 6ffj96.866 Unrestricted Total Funds Funds 2022 Investments Current assets Creditors less than l year 5.630,000 779,264 (70.852) 6J38.412 5,630,000 779,264 (70.852) 6J38.412 Net assets 20. ANALYSIS OF CHANGES IN NET DEBT At At l (kt 2022 Cash flows 30 Sep 2023 Cash at bank and in hand 763,264 (176,453) 586011 21. RELATED PARTY TIL4NSACTIONS Donations received includes amounts aggregating £352,000 from the subsidiary undertakings. No restrictions We attached to any of the donations received. 19