REGISTERED COMPANY NUMBER: 04398313 (England and Wales) REGISTERED CHARITY NUMBER: 1103927
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FOR
BEIS AHARON OF OLESK
Versa Accountants Ltd Chartered Certified Accountants Unit 2 99-101 Kingsland Road London E2 8AG
BEIS AHARON OF OLESK
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
BEIS AHARON OF OLESK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 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 31 March 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).
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.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04398313 (England and Wales)
Registered Charity number
1103927
Registered office
87 St Ann's Road London London N15 6NJ
Trustees
Mr S Dankowitz Businessman Mrs R Eichenstein Secretary Mr A L Eichenstein Property Management
Company Secretary
Mrs R Eichenstein
Independent Examiner
Versa Accountants Ltd Chartered Certified Accountants Unit 2 99-101 Kingsland Road London E2 8AG
Approved by order of the board of trustees on 6 July 2023 and signed on its behalf by:
Mr A L Eichenstein - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEIS AHARON OF OLESK
Independent examiner's report to the trustees of Beis Aharon Of Olesk ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 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:
-
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
-
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.
Albie Turner
Versa Accountants Ltd Chartered Certified Accountants Unit 2 99-101 Kingsland Road London E2 8AG
6 July 2023
Page 2
BEIS AHARON OF OLESK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities Donations Total NET INCOME Other recognised gains/(losses) Gains on revaluation of fixed assets Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted fund £ - 123,571 123,571 31,460 90,881 122,341 1,230 - 1,230 2,293,176 2,294,406 |
2022 Total funds £ 30,000 112,385 |
|---|---|---|
| 142,385 | ||
| 21,651 26,725 |
||
| 48,376 | ||
| 94,009 1,114,584 |
||
| 1,208,593 1,084,583 |
||
| 2,293,176 |
The notes form part of these financial statements
Page 3
BEIS AHARON OF OLESK
BALANCE SHEET 31 MARCH 2023
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Debtors 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
2023 Unrestricted fund £ 1,582,785 679,424 33,097 712,521 (900) 711,621 2,294,406 2,294,406 2,294,406 2,294,406 |
2022 Total funds £ 1,591,984 644,717 57,375 702,092 (900) 701,192 2,293,176 2,293,176 2,293,176 2,293,176 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.
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 6 July 2023 and were signed on its behalf by:
Mr A L Eichenstein - Trustee
The notes form part of these financial statements
Page 4
BEIS AHARON OF OLESK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 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.
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.
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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Page 5
continued...
BEIS AHARON OF OLESK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
2. INVESTMENT INCOME
| Rents received Interest receivable - trading 3. RAISING FUNDS Raising donations and legacies Support costs Investment management costs Property repairs Maintenance charges Aggregate amounts 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2023 £ 85,359 38,212 123,571 2023 £ 23,422 2023 £ - 8,038 8,038 31,460 2023 £ 9,199 |
2022 £ 78,074 34,311 |
2022 £ 78,074 34,311 |
|---|---|---|---|
| 112,385 | |||
| 2022 £ 12,528 |
|||
| 2022 £ 8,142 981 9,123 21,651 |
|||
| 2022 £ 10,220 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Page 6
continued...
BEIS AHARON OF OLESK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Donations Total NET INCOME Other recognised gains/(losses) Gains on revaluation of fixed assets Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. TANGIBLE FIXED ASSETS COST At 1 April 2022 and 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 |
Freehold property £ 1,500,000 - - - 1,500,000 1,500,000 |
Fixtures and fittings £ 192,267 100,283 9,199 109,482 82,785 91,984 |
Unrestricted fund £ 30,000 112,385 |
|
|---|---|---|---|---|
| 142,385 | ||||
| 21,651 26,725 |
||||
| 48,376 | ||||
| 94,009 1,114,584 |
||||
| 1,208,593 1,084,583 |
||||
| 2,293,176 | ||||
| Totals £ 1,692,267 100,283 9,199 109,482 1,582,785 1,591,984 |
||||
continued...
Page 7
BEIS AHARON OF OLESK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 2022 £ £ Other debtors 679,424 644,717 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 £ £ Accruals and deferred income 900 900 10. MOVEMENT IN FUNDS Net Movement in At At 1.4.22 funds 31.03.2023 £ £ £ Unrestricted Funds General Fund 1,178,592.00 1,230.00 1,179,822.00 Realised Gain on Property Investment 1,114,584.00 1,114,584.00 Total Funds 2,293,176.00 1,230.00 2,294,406.00 Net Movements in funds are as follows: Incoming Resources Movement in Resources Expended Funds £ £ £ General Fund 123,571.00 (122,341.00 ) 1,230.00 Total Funds 123,571.00 (122,341.00 ) 1,230.00 Comparatives for movements in funds Net Movement in At At 1.4.21 funds 31.03.2022 £ £ £ Unrestricted Funds General Fund 1,084,583.00 94,009.00 1,178,592.00 Realised Gain on Property Investment 1,114,584.00 1,114,584.00 Total Funds 2,199,167.00 94,009.00 2,293,176.00 |
2023 £ 679,424 2023 £ 900 |
2022 £ 644,717 |
2022 £ 644,717 |
|---|---|---|---|
| 2022 £ 900 |
11. RELATED PARTY DISCLOSURES
There is a £ 156,061.86 balance due from Moundfield Heights, also there is a £ 185,385.67 balance due from Heathcroft Investments.
There is a £ 293,751.90 balance due from Kelrose Ltd and there is a £ 44,225.04 balance due from Manorwest Estates Ltd.
Page 8
BEIS AHARON OF OLESK
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Rents received Interest receivable - trading Total incoming resources EXPENDITURE Investment management costs Property repairs Maintenance charges Charitable activities Donations to charitable Support costs Management Rates and water Advertising Sundries Accountancy Subscriptions Finance Bank charges Other Depreciation of tangible fixed assets Other 2 Insurance Total resources expended Net income |
2023 £ - 85,359 38,212 123,571 123,571 - 8,038 8,038 90,881 10,876 814 - 1,275 35 13,000 5 9,199 1,218 122,341 1,230 |
2022 £ 30,000 78,074 34,311 |
|---|---|---|
| 112,385 | ||
| 142,385 8,142 981 |
||
| 9,123 26,725 11 - 35 900 - |
||
| 946 - 10,220 1,362 |
||
| 48,376 | ||
| 94,009 |
This page does not form part of the statutory financial statements
Page 9