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2021-06-30-accounts

REGISTERED COMPANY NUMBER: 05471991 (England and Wales) REGISTERED CHARITY NUMBER: 1112319

YEHUDA & MOSHE LIMITED (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

STERN ASSOCIATES Chartered Accountants 2 Helenslea Avenue London NW11 8ND

YEHUDA & MOSHE LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

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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 14
Detailed Statement of Financial Activities 15
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YEHUDA & MOSHE LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 JUNE 2021

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TRUSTEES Mrs E Sternbuch
S B Stroh
Mrs A C Stroh
COMPANY SECRETARY Mrs A C Stroh
REGISTERED OFFICE 357 City Road
London
EC1V 1LR
REGISTERED COMPANY 05471991 (England and Wales)
NUMBER
REGISTERED CHARITY 1112319
NUMBER
INDEPENDENT EXAMINER STERN ASSOCIATES
Chartered Accountants
2 Helenslea Avenue
London
NW11 8ND
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Page 1

YEHUDA & MOSHE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021

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 2021. 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:

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.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Charity has extended grants totalling £501,210 (2020 - £216,400) 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 £451,250 (2020 - £312,500) in donations and legacies.

Investment performance

The Charity's investment properties continued to provide rental income to help support its activities.

Investment income, including rent received totalled £48,762 (2020 - £46,626).

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.

FUTURE PLANS

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

Page 2

YEHUDA & MOSHE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021

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.

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.

Approved by order of the board of trustees on 14 March 2022 and signed on its behalf by:

Mrs A C Stroh - Secretary

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YEHUDA & MOSHE LIMITED

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

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.

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 & 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.

Simon Stern, ACA Institute of Chartered Accountants in England & Wales STERN ASSOCIATES Chartered Accountants 2 Helenslea Avenue London NW11 8ND

14 March 2022

Page 4

YEHUDA & MOSHE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021

30.6.21
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
451,250
Investment income
3
48,761
Total
500,011
EXPENDITURE ON
Raising funds
4
17,849
Charitable activities
5
Grants
501,210
Other
1,817
Total
520,876
Net gains on investments
21,807
NET INCOME
942
RECONCILIATION OF FUNDS
Total funds brought forward
884,133
TOTAL FUNDS CARRIED FORWARD
885,075		 30.6.20
Total
funds
£
312,500
46,626
359,126
35,439
216,400
1,781
253,620
2,050
107,556
776,577
884,133

The notes form part of these financial statements

Page 5

YEHUDA & MOSHE LIMITED

BALANCE SHEET 30 JUNE 2021

Notes
FIXED ASSETS
Investment property
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
14
Unrestricted funds:
General fund
Revaluation reserve
TOTAL FUNDS		 30.6.21
Unrestricted
funds
£
1,050,000
29,078
6,245
35,323
(66,248)
(30,925)
1,019,075
(134,000)
885,075
607,867
277,208
885,075
885,075		 30.6.20
Total
funds
£
1,000,000
20,225
27,057
47,282
(17,149)
30,133
1,030,133
(146,000)
884,133
628,732
255,401
884,133
884,133

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 6

continued...

YEHUDA & MOSHE LIMITED

BALANCE SHEET - continued 30 JUNE 2021

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 14 March 2022 and were signed on its behalf by:

S B Stroh - Trustee

A C Stroh - Trustee

The notes form part of these financial statements

Page 7

YEHUDA & MOSHE LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of investment property
Interest received
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Net cash provided by/(used in) financing 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		 30.6.21
£
(24,743)
(5,913)
(30,656)
(28,193)
37
(28,156)
50,000
(12,000)
38,000
(20,812)
27,057
6,245		 30.6.20
£
106,691
(7,161)
99,530
(72,950)
-
(72,950)
-
(12,000)
(12,000)
14,580
12,477
27,057

The notes form part of these financial statements

Page 8

YEHUDA & MOSHE LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2021

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
30.6.21
30.6.20
£
£
Net income for the reporting period (as per the Statement of
Financial Activities)
942
107,556
Adjustments for:
Gain on investments
(21,807)
(2,050)
Interest received
(37)
-
Interest paid
5,913
7,161
Increase in debtors
(8,853)
(7,625)
(Decrease)/increase in creditors
(901)
1,649		 1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
30.6.21
30.6.20
£
£
Net income for the reporting period (as per the Statement of
Financial Activities)
942
107,556
Adjustments for:
Gain on investments
(21,807)
(2,050)
Interest received
(37)
-
Interest paid
5,913
7,161
Increase in debtors
(8,853)
(7,625)
(Decrease)/increase in creditors
(901)
1,649
Net cash (used in)/provided by operations (24,743)
106,691
2.
ANALYSIS OF CHANGES IN NET DEBT
At 1.7.20
£
Net cash
Cash at bank
27,057		 Cash flow
At 30.6.21
£
£
(20,812)
6,245
27,057 (20,812)
6,245
Debt
Debts falling due within 1 year
(12,000)
Debts falling due after 1 year
(146,000)		 (50,000)
(62,000)
12,000
(134,000)
(158,000) (38,000)
(196,000)
Total
(130,943)		 (58,812)
(189,755)

The notes form part of these financial statements

Page 9

YEHUDA & MOSHE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

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, 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.

Page 10

continued...

YEHUDA & MOSHE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021

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2. DONATIONS AND LEGACIES
30.6.21 30.6.20
£ £
Donations 440,000 305,000
Gift aid 11,250 7,500
451,250 312,500
3. INVESTMENT INCOME
30.6.21 30.6.20
£ £
Rents received 48,724 46,626
Other interest receivable 37 -
48,761 46,626
4. RAISING FUNDS
Investment management costs
30.6.21 30.6.20
£ £
Insurance 2,310 -
Agent's commission 4,784 4,249
Property repairs 4,842 24,029
Interest payable and similar charges 5,913 7,161
17,849 35,439
5. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(see note
6)
£
Grants 501,210
6. GRANTS PAYABLE
30.6.21 30.6.20
£ £
Grants 501,210 216,400
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Page 11

continued...

YEHUDA & MOSHE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021

7. SUPPORT COSTS

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|||||| |---|---|---|---|---| |Governance| |Management|Finance|costs|Totals| |£|£|£|£| |Other resources expended|189|128|1,500|1,817|

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8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.

9. INVESTMENT PROPERTY

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||| |---|---| |£| |FAIR VALUE| |At 1 July 2020|1,000,000| |Additions|28,193| |Revaluation|21,807| |At 30 June 2021|1,050,000| |NET BOOK VALUE| |At 30 June 2021|1,050,000| |At 30 June 2020|1,000,000|

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The investment properties are stated at the trustees' valuation at 30 June 2021 based on the trustees' understanding of prevailing market conditions and the specific properties concerned.

Fair value at 30 June 2021 is represented by:

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|||| |---|---|---| |£| |Valuation in 2020|1,000,000| |Valuation in 2021|50,000| |1,050,000| |10.|DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR| |30.6.21|30.6.20| |£|£| |Other debtors|8,078|3,500| |Rent Control|2,250|4,225| |Gift aid recoverable|18,750|12,500| |29,078|20,225|

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Page 12

continued...

YEHUDA & MOSHE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 13)
Deferred income
Accrued expenses		 30.6.21
30.6.20
£
£
62,000
12,000
1,100
-
3,148
5,149
66,248
17,149
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.21
30.6.20
£
£
Bank loans (see note 13)
134,000
146,000

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

13. LOANS

The bank loans are secured by way of fixed and floating charge over the company's assets.

14. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Revaluation reserve
TOTAL FUNDS		 At 1.7.20
£
628,732
255,401
884,133
884,133		 Net
movement
in funds
£
(20,865)
21,807
942
942		 At
30.6.21
£
607,867
277,208
885,075
885,075

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Revaluation reserve
TOTAL FUNDS		 Incoming
resources
£
500,011
-
500,011
500,011		 Resources
expended
£
(520,876)
-
(520,876)
(520,876)		 Gains and
Movement
losses
in funds
£
£
-
(20,865)
21,807
21,807
21,807
942
21,807
942

Page 13

continued...

YEHUDA & MOSHE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Revaluation reserve
TOTAL FUNDS		 At 1.7.19
£
523,226
253,351
776,577
776,577		 Net
movement
in funds
£
105,506
2,050
107,556
107,556		 At
30.6.20
£
628,732
255,401
884,133
884,133

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

Unrestricted funds
General fund
Revaluation reserve
TOTAL FUNDS		 Incoming
resources
£
359,126
-
359,126
359,126		 Resources
expended
£
(253,620)
-
(253,620)
(253,620)		 Gains and
Movement
losses
in funds
£
£
-
105,506
2,050
2,050
2,050
107,556
2,050
107,556

15. RELATED PARTY DISCLOSURES

During the year the charity received donations totalling £440,000 (2020 - £305,000) from the trustees, charities and companies controlled by the trustees.

During the year ended 30 June 2017 the charity extended a loan to a company of which a trustee is a director. At the year end £2,500 (2020 - £2,500) was due to the charity.

Page 14

YEHUDA & MOSHE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Investment income
Rents received
Other interest receivable
Total incoming resources
EXPENDITURE
Investment management costs
Insurance
Agent's commission
Property repairs
Interest payable
Charitable activities
Grants to institutions
Support costs
Management
Sundries
Finance
Bank charges
Governance costs
Accountancy fees
Total resources expended
Net (expenditure)/income		 30.6.21
£
440,000
11,250
451,250
48,724
37
48,761
500,011
2,310
4,784
4,842
5,913
17,849
501,210
189
128
1,500
520,876
(20,865)		 30.6.20
£
305,000
7,500
312,500
46,626
-
46,626
359,126
-
4,249
24,029
7,161
35,439
216,400
189
92
1,500
253,620
105,506

This page does not form part of the statutory financial statements

Page 15