2024-06-30-accounts - Shimon Yehuda Limited

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REGISTERED COMPANY NUMBER: 05471987 (England and Wales) REGISTERED CHARITY NUMBER: 1111194

SHIMON YEHUDA LIMITED (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

STERN ASSOCIATES Chartered Accountants 2 Helenslea Avenue London NW11 8ND

SHIMON YEHUDA LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

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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 15
Detailed Statement of Financial Activities 16
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SHIMON YEHUDA LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 JUNE 2024

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TRUSTEES B D Stroh
Mrs T Stroh
Mrs M Reich
COMPANY SECRETARY Mrs T Stroh
REGISTERED OFFICE 357 City Road
London
EC1V 1LR
REGISTERED COMPANY 05471987 (England and Wales)
NUMBER
REGISTERED CHARITY 1111194
NUMBER
INDEPENDENT EXAMINER STERN ASSOCIATES
Chartered Accountants
2 Helenslea Avenue
London
NW11 8ND
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Page 1

SHIMON YEHUDA LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

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 June 2024. 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 objects of the charity are:

The advancement of Orthodox Jewish religious education
The advancement of the Orthodox Jewish religion
The relief of poverty, particularly amongst persons of the Jewish faith.
Any other charitable purposes as determined by the trustees.

Significant activities

The charity receives income mainly from its property investments and charitable donations under gift aid, which it utilises to provide grants to various charitable and educational institutions in accordance with its objects.

Public benefit

The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.

Grantmaking

The trustees are approached for donations by a wide variety of charitable institutions. The trustees consider all requests which they receive and make donations based on the level of funds available.

STRATEGIC REPORT

Achievement and performance

Charitable activities

The Charity has extended grants totalling £550,600 (2023 - £848,650) to a number of charitable institutions.

Fundraising activities

The charity continued to be supported by donations from the trustees and other charities and companies that are controlled by the trustees.

Despite the difficult economic climate, the Charity received a total of £459,000 (2023 - £695,000) in donations and legacies.

Investment performance

The Charity's investment property continued to provide a healthy rental income to help support its activities.

Investment income, including rent received totalled £31,500 (2023 - £30,957).

Financial review

Reserves policy

Reserves are distributed at the discretion of the trustees as and when they become available, after providing for administrative expenses, and no formal commitments for future grants are made to any of the beneficiaries.

The trustees consider that the Charity will generate sufficient rental income and receive donations to fund its ongoing activities.

Page 2

SHIMON YEHUDA LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

STRATEGIC REPORT

Future plans

No significant changes are planned to the operation of the Charity.

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.

Risk management

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks.

Recruitment and appointment of new trustees

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 adopt suitable recruitment, training and induction procedures.

Related parties

The charity is supported by donations from a wholly owned subsidiary Grey Eagle Properties Ltd, as well as other companies that are controlled by the trustees.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 26 March 2025 and signed on the board's behalf by:

B D Stroh - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHIMON YEHUDA LIMITED

Independent examiner's report to the trustees of Shimon Yehuda Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024.

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 member of the 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:

accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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.

Simon Stern, ACA

STERN ASSOCIATES Chartered Accountants 2 Helenslea Avenue London NW11 8ND

26 March 2025

Page 4

SHIMON YEHUDA LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024

30.6.24
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
459,000
Investment income
3
36,536
Total
495,536
EXPENDITURE ON
Charitable activities
4
Grants
550,600
Other
1,561
Total
552,161
NET INCOME/(EXPENDITURE)
(56,625)
Other recognised gains/(losses)
Gains/(losses) on revaluation of fixed assets
(2,416)
Net movement in funds
(59,041)
RECONCILIATION OF FUNDS
Total funds brought forward
545,741
TOTAL FUNDS CARRIED FORWARD
486,700

30.6.23
Total
funds
£
695,000
33,315
728,315
848,650
3,699
852,349
(124,034)
7,868
(116,166)
661,907
545,741

The notes form part of these financial statements

Page 5

SHIMON YEHUDA LIMITED

BALANCE SHEET 30 JUNE 2024

30.6.24
Unrestricted
funds
Notes
£
FIXED ASSETS
Investments
Investments
8
27,317
Investment property
9
200,000
227,317
CURRENT ASSETS
Debtors
10
29,468
Cash at bank
239,218
268,686
CREDITORS
Amounts falling due within one year
11
(9,303)
NET CURRENT ASSETS
259,383
TOTAL ASSETS LESS CURRENT
LIABILITIES
486,700
NET ASSETS
486,700
FUNDS
12
Unrestricted funds:
General fund
421,700
Revaluation Reserve
65,000
486,700
TOTAL FUNDS
486,700

30.6.23
Total
funds
£
29,733
200,000
229,733
23,279
301,804
325,083
(9,075)
316,008
545,741
545,741
480,741
65,000
545,741
545,741

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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

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continued...

SHIMON YEHUDA LIMITED

BALANCE SHEET - continued 30 JUNE 2024

The financial statements were approved by the Board of Trustees and authorised for issue on 26 March 2025 and were signed on its behalf by:

B D Stroh - Trustee

The notes form part of these financial statements

Page 7

SHIMON YEHUDA LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2024

Notes Cash flows from operating activities Cash generated from operations 1 Net cash used in operating activities Cash flows from investing activities Interest received Net cash provided by investing 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	30.6.24 £ (67,621) (67,621) 5,035 5,035 (62,586) 301,804 239,218	30.6.23 £ (136,624) (136,624) 2,359 2,359 (134,265) 436,069 301,804

The notes form part of these financial statements

Page 8

SHIMON YEHUDA LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2024

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for: Interest received Increase in debtors Increase in creditors Net cash used in operations	30.6.24 £ (56,625) (5,035) (6,189) 228 (67,621)	30.6.23 £ (124,034) (2,359) (10,507) 276 (136,624)

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash Cash at bank	At 1.7.23 Cash flow At 30.6.24 £ £ £ 301,804 (62,586) 239,218
	301,804 (62,586) 239,218
Total	301,804 (62,586) 239,218

The notes form part of these financial statements

Page 9

SHIMON YEHUDA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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.

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SHIMON YEHUDA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

2. DONATIONS AND LEGACIES

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|||| |---|---|---| |30.6.24|30.6.23| |£|£| |Donations|451,500|682,500| |Gift aid|7,500|12,500| |459,000|695,000| |3.|INVESTMENT INCOME| |30.6.24|30.6.23| |£|£| |Rents received|31,501|30,956| |Deposit account interest|5,035|2,359| |36,536|33,315| |4.|CHARITABLE ACTIVITIES COSTS| |Grant| |funding of| |activities| |(see note| |5)| |£| |Grants|550,600| |5.|GRANTS PAYABLE| |30.6.24|30.6.23| |£|£| |Grants|550,600|848,650|

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The charity made 68 grants to UK registered charities. A breakdown is available on request from the company secretary.

6. SUPPORT COSTS

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|||||| |---|---|---|---|---| |Governance| |Management|Finance|costs|Totals| |£|£|£|£| |Other resources expended|149|92|1,320|1,561|

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SHIMON YEHUDA LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.

8. FIXED ASSET INVESTMENTS

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||| |---|---| |Shares in| |group| |undertakings| |£| |MARKET VALUE| |At 1 July 2023|29,733| |Impairments|(2,416)| |At 30 June 2024|27,317| |NET BOOK VALUE| |At 30 June 2024|27,317| |At 30 June 2023|29,733|

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There were no investment assets outside the UK.

Cost or valuation at 30 June 2024 is represented by:

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||| |---|---| |Shares in| |group| |undertakings| |£| |Valuation in 2023|29,733| |Valuation in 2024|(2,416)| |27,317|

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The company's investments at the balance sheet date in the share capital of companies include the following:

Grey Eagle Properties Ltd

Registered office: England Nature of business: Property Investment

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|||| |---|---|---| |%| |Class of share:|holding| |Ordinary|100| |30.9.23|30.9.22| |£|£| |Aggregate capital and reserves|27,317|29,733| |(Loss)/profit for the year|(2,416)|7,868|

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continued...

SHIMON YEHUDA LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

8. FIXED ASSET INVESTMENTS - continued

The above figures are stated after charitable donations of £9,000 (2023 - £5,000) to Shimon Yehuda Limited.

The market value of the investment in the subsidiary undertaking is based on the underlying value of assets less liabilities of the company at 30th September 2023.

9. INVESTMENT PROPERTY

FAIR VALUE At 1 July 2023 and 30 June 2024 NET BOOK VALUE At 30 June 2024 At 30 June 2023	£ 200,000 200,000 200,000

The investment properties are stated at the trustees' valuation at 30 June 2024 based on the trustees' understanding of prevailing market conditions and the specific properties concerned.

Fair value at 30 June 2024 is represented by:

Valuation in 2024 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Rent arrears Gift aid recoverable	30.6.24 £ 9,468 20,000 29,468	£ 200,000 30.6.23 £ 10,779 12,500 23,279

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continued...

SHIMON YEHUDA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accrued expenses
Rent received in advance
12.
MOVEMENT IN FUNDS
At 1.7.23
£
Unrestricted funds
General fund
480,741
Revaluation Reserve
65,000
545,741
TOTAL FUNDS
545,741
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
495,536
(552,161)
TOTAL FUNDS
495,536
(552,161)
Comparatives for movement in funds
At 1.7.22
£
Unrestricted funds
General fund
596,907
Revaluation Reserve
65,000
661,907
TOTAL FUNDS
661,907

30.6.24
30.6.23
£
£
1,260
1,200
8,043
7,875
9,303
9,075
Net
movement
At
in funds
30.6.24
£
£
(59,041)
421,700
-
65,000
(59,041)
486,700
(59,041)
486,700
Gains and
Movement
losses
in funds
£
£
(2,416)
(59,041)
(2,416)
(59,041)
Net
movement
At
in funds
30.6.23
£
£
(116,166)
480,741
-
65,000
(116,166)
545,741
(116,166)
545,741

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continued...

SHIMON YEHUDA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 728,315 728,315	Resources expended £ (852,349) (852,349)	Gains and Movement losses in funds £ £ 7,868 (116,166) 7,868 (116,166)

13. RELATED PARTY DISCLOSURES

During the year the charity received donations totalling £9,000 (2023 - £5,000) from Grey Eagle Properties Ltd, a wholly owned subsidiary.

During the year the charity also received donations totalling £442,500 (2023 - £677,500) from the trustees, charities and companies controlled by the trustees.

Page 15

SHIMON YEHUDA LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024

INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Investment income Rents received Deposit account interest Total incoming resources EXPENDITURE Charitable activities Grants to institutions Support costs Management Repairs Sundries Finance Bank charges Governance costs Accountancy fees Total resources expended Net expenditure	30.6.24 £ 451,500 7,500 459,000 31,501 5,035 36,536 495,536 550,600 - 149 149 92 1,320 552,161 (56,625)	30.6.23 £ 682,500 12,500 695,000 30,956 2,359 33,315 728,315 848,650 2,400 - 2,400 99 1,200 852,349 (124,034)

This page does not form part of the statutory financial statements

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