COMPANY REGISTRATION NUMBER: 5085596 CHARTTY REGISTRATION NUMBER: 1106083 CHITOV LIMITED Company LiD)ited by Guarantee Unaudited Financial Statements For the year ended 31 March 2024 COHEN ARNOLD Chartered accountants New Burlington House 1075 Finchley Road LONDON NWII OPU
CHITOV LIMITED COMPANY LIMtTED BY GUARANTEE Financial Statements Year ended 31 March 2024 PAGES Trustees, Annual Report (Inco4)orating the Director's Report) Ito2 Independent Examiner's Report to the Trustees Statement of Financial Activities (Including Income and Expenditure Account) Statement of Financial Position Notes to the Financial Statements 6toll
CHITOV LIMITED COMPANY LIMITED BY GUARANTEE Trustees, Annual Report (Ineorporating tbe Directorls Report) Year ended 31 March 2024 The trustees, who are also the dircctors for the purposes of company law, present their report and the unauditcd financial statements of the charity for the year ended 31 March 2024. Reference and adnjinistrative details Registered charity name Cbarity registration Dumber Company registratlOD number 5085596 Principal office and registered New Burlington House office 1075 Finchley Road London NWI I OPU Chitov Limited 1106083 The trustees Mrs E Schiffer Mr R Schiff¢r Mr M Herzog Mrs S Herzog Mrs E Schiffer Company secretAry Indepeodant examiDer Moshe Broner-cohen FCA New Burlington House 1075 Finchley Road LONDON NWI I OPU Struclure? governaDce and management The Charity is constituted as a Company Limited by Guarantee, and is therefore governed by its Memorandum and Articles of Association. The Governors (Trustees) administer the day-tfrday affairs of the Charity. None of the Trustees have any beneficial interest in the Charity. 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 induction procedures. Objectives and activities The Company is established to further both in the United Kingdom and abroad those purposes recognised as charitable by English Law. To achieve these objects, the Company utilises its income to make grants and donations. Achievements and performance During the year the Company continued to pursue its philanthropic objects in support of educational, religious and other Charitable Organisations which was in aOrdanCe with the guidance of the Charity Commission relating to Public Benefit.
CHITOV LIMtTED COMPANY LIMITED BY GUARANTEE Trustees, Annual Report (Incorporating the Director's Report) fcollllnued) Year ended 31 Marcb 2024 Financial review The financial results of the charity's activities for the year to 31 March 2024 are fully reflected in the attached Financial Statements together with the Notes thereon. Reserves Policy It is the policy of the charity to maintain unrestricted funds, which include the free reserves of the charity, 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. Plans for future perlods The trustees plan to Continue to mak¢ distributions in accordance with their grant making policy and to ensure that an appropriat¢ level of reserv¢s is maintained. PRINCtPAL RISKS AND UNCERTAtYTIES Risk Management 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. 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. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 22 November 2024 and signed on behalf of the board of trustees by: Mrs E Schiffer Charity kcretary
CHtTOV LIMITED COMPANY LIMITED BY GUARANTEE Independent Examiner's Report to tbe Trustees of Chitov Limited Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of Chitov Limited ('the charity,) for the year ended 31 March 2024. Responsibilities and b&8is of report The trustees are also the directors of the company for the purposes of company law are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £25,000 and I am qualified to undertake the examination by being a qualified member of 'Accounting body,. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under section 145 of the 201 l Act. to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. and to state whether particular matters have come to my attention. IDdepeodent examiner's statement - matter of concerD identified I have completed my examination. I confirm that no matters have come to my attention in connection with the exarnination giving rne cause to believe". accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or the financial statements do not accord with those records. or 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 'tru¢ and fairf view which is not a matter considered as part of an independent examination. or 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 Rep)rting 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 aecounts to be r¢aehed. Moshe Bron¢r-Cohen FCA Independent Examiner New Burlington House 1075 Finchley Road LONDON NWI I OPU 2 Nove Date er 202
CHITOV LIMITED COMPANY LIIWTED BY GUARANTEE Statement of Financial Activities (including income and expenditure aeeount) Year ended 31 March 2024 2024 Unrestricted funds Total funds Total funds 2023 Nots Income and endowments Donations and legacies Total iDeome 90.316 90,316 90J16 90J16 126.000 126,000 Expenditure Expenditure on charitable activities Total expenditure (92,610) (92,610} (92,610) (122,393) (92,610) (122,393) N¢t gains on investments 10,308 10,308 222,899 Net IDcome And net movement in fund8 8,014 8,014 226.506 ReeonciliAtion of funds Total funds brought forward Total funds carried fonvard 1,146,360 1.154,374 1,146J60 1,154J74 919,854 1,146,360 The ststement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activtties. The notes on pages 6 to I I form part of these financial statement&
CHITOV LIMITED COMPANY LIMITED BY GUARANTEE Statement of Financial Position 31 March 2024 2024 2023 Nott Fixed assets Investments 12 1,152,162 1,141,854 Current assets Cash at bank and in hand 3,472 5.706 Creditors: amounts falling due within one year Net eurrent assets 13 (1,260) (1,200) 2312 1,154J74 1,154,374 4,506 1,146,360 1.146,360 Total assets less current liabilltles Net aets Funds of the charity Unrestricted funds I,154J74 1,154J74 1,146,360 1,146,360 Total charity funds 14 For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company to obtsin an audit of its financial statements for the year in question in accordance with section 476. 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 compani¢s subj¢ct to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 22 November 2024, and are signed on behalf of the board by: Mrs E Schiffer Trustee The notes on pages 6 to I I form part of these finAneial ststements.
CHITOV LIMtTED COMPANY LIMITED BY GUARANTEE Notes to the FinaDeial Statements Year ended 31 March 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registercd 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, NW I I OPU. 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. Accountlng polieies Basis of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling. which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uneertAinty In the application of the charity's accounting polieies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results Tnay differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
CHITOV LIMITED COMPANY LIMITED BY GUARANTEE Notes to tbe Financial Statements {conliMued) Year ended 31 March 2024 Accounting policies (L'onilnued) Incoming resources All incoming resources are 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. The following specific policies are applied to particular categories of income: income from donations or grants is recogmised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is estsblished. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the valu¢ is derived from the cost to the donor or the estimated resale value. Donated facilities and services are r¢cognis¢d in the accounts when received if the value can b¢ reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any V AT which cannot be fully recovered, and is classified under headings of th¢ statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activitie4 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 beneficiarie5, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Limited by guarAntee The charity is a Cotnpany Limited by Guarantee and has no share capital. The liability of each Mcmber in the event of winding up is limited to £1.
CHITOV LIMITED COMPANY LIMITED BY GUARANTEE Notes to the Financial Statements (eollrtmuedj Year ended 31 March 2024 DonatioDs and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations Received 90,316 90J16 126,000 126,000 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Paid Support costs 91,000 1,610 92,610 91,0(10 1,610 92,610 120,800 1,593 122,393 120,800 1,593 122,393 Expenditure on charitable activitles by activity type Grant funding of activities Support costs Tolal fuDd8 2024 Total fund 2023 Donations Paid Governance costs 91,000 91,1100 1,610 92,610 120,800 1,593 122,393 1,610 1,610 91,000 ADaly$is of gran18 All donations were made to charities whose objectives are in line with the objectives of the charity. The composition of donations is shown below. 2024 2023 Grants to illstitutions Friends of Mercaz Hatorah Belz Macnivka One Heart - Lev Echod Mifal Hachesed Vehatzedokoh Friends of Bels Chinuch L¢bonos Trust Friends of Bels Soroh Schneirer Other grants < £6,000 11,000 3,1)00 28,000 11,000 31,000 7,000 91,000 91,000 22,000 7,000 31,000 27,000 27,000 6,800 120,800 120,800 Total grants
CHITOV LIMITED COMPANY LIMITED BY GUARANTEE Notes to the Financial Statements (contsrttsed) Year ended 31 March 2024 Net gains on investments Unrestricted Tolal Funds Unrestricted Total Funds Funds 2024 Funds 2023 Gains/Losses on Investments 10,308 IOJ08 222,899 222,899 10. Independent examination fees 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 1,260 1,200 I l. Trustee remuneration and expenses No Salaries or wages have been paid to employees, including the trustees. during the year. The charity did not meet any individual expenses incurred by the trustees for services provided to the charity. 12. Investments Shares in group undertakiDgs ValuatlOD At l April 2023 Additions Fair value movements 1,141,854 IOJ08 1,152,162 At 31 March 2024 Impairment At l April 2023 and 31 Mareb 2024 Carrying amount At 31 Marcb 2024 1,152.162 1,141,854 At 31 March 2023 All investments shown above are held at valuation.
CHITOV LllVLtTED COMPANY LIMITED BY GUAIL4NTEE Notes to the Financial Statements (canlinued) Year ended 31 March 2024 12. Investments (conlimmed) The historical cost of the Investment in the Subsidiary Undertaking is £ l 00. The Company holds the whole of the issued share capital in Sun House Limited which is incorporated in Great Britain and registered in England. The results for the year ended 30 June 2023 and the Capital and Reserves at that date attributable to the Company of the Subsidiary Undertaking ar¢ set out hereunder. Group Financial Statements have not been prepared under the exemption conferred by Section 398 Companies Act 2006. Turnover Profit Capital & Reserves For Year for Year at 30 June 2023 b) £147,824 £10,308 £1.152,162 Th¢ aggregate profit for the year of £10,308 is aft¢r deduction of payments to this Company of £90,316. The Financial Statements of the Subsidiary Undertaking for the year ended 30 June 2024 are not yet available. 13. Creditors: amounts falling due within one year 2024 2023 Accruals and deferred income 1260 1,200 14. Analysis of charitable funds Unrestricted funds At l April 2023 Gains and At losses 31 March 2024 Income Expenditure General funds 1,146,360 90,316 (92,610) 10,308 1,154J74 At l April 2022 Gains and At losses 31 March 2023 Income Expenditure General funds 919,854 126,000 {122,393) 222,899 1,146,360 io-
CHITOV LIMITED COMPANY LIMITED BY GUARANTEE Notes to the Financial Statements (eohiinued) Year ended 31 March 2024 IS. Analysls of net assets between funds Unr¢stricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than l year Net assets 1,152,162 3,472 (1,260) 1,154,374 1,152,162 3,472 (1260) 1,154,374 Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than l year Net assets 1,14l,854 5,706 (1,200) 1,146,360 1,141,854 5,r706 (1,200) 1,146,360 16. Related parti Donations received in the year from the subsidiary Sun House Limited amounted to £90,316 (2023: £126,000).