COMPANY REGISTRATION NUMBER: 05561846 CIL4RITY REGISTRATION NUMBER: 1113749 NEDIV LEV LTD Company Limited by Guarantee UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 COHEN ARNOLD Chartered accountants New Burlington House 1075 Finchley Road LONDON NWI I OPU
NEDIV LEV LTD COMPANY LIMtTED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Pages Ito3 Trustees, annual report (IncoOratIng the director's report) 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 7t013
NEDIV LEV LTD COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPOIL4TING THE DIRECTOR'S REPORT) YEAR ENDED 31 MARCH 2024 The trustees, who are also the dircctors for the purposes of company law, Psent their report and the unaudited financial statements of the charity for the ycar ended 31 March 2024. REFERENCE AND ADMINISTRATIVE DETAILS Registered cbarity name Charity registration number Company registration number 05561846 Principal oifiee and registered 150 Kyverdale Road office London N16 6PU Nediv Lev Ltd 1113749 The trustees Mr P N Brander Mrs H Simon Mrs B M Zieg Mr A Brander Company secretary Independent examiner Mrs S E Brander Asher Sternlicht, FCA Cohen Arnold New Burlington House 1075 Finchley Road LONDON NWI I OPU STRUCTURE, GOVERNANCE AND IVIANAGEMENT The Charity is constituted as a Company Limited by Guarant¢¢, and is therefore governed by its Memorandum and Articles of Association. The Trustees administer the day-to-day affairs of the Charity. All Trustees give their time voluntarily and no benefit or expense was paid to them in the year. 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 provide suitable recruitment training and induction procedures. GROUP STRUCTURE AND RELATIONSHtps The Charity has a wholly owned non-charitable subsidiary, Pramdale Co. Limited. One of the Trustees, Mr P N Brander is also a Director in the Subsidiary Company. IUSK MANAGEMENT The Trustees have identified and reviewed the major risks to which the Charity is exposed, in particular those relating to the operations and finances of the Charity, and are satisfied that the systems are in place to manage thosc risks.
NEDIV LEV LTD COMPANY LIMITED BY GUAIL4NTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) {conrfMued) YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES The Charity is established to promote any charitable purposes for the benefit of the members of the Orthodox Jewish community and in particular the advancement of education and the relief of poverty, sickness. hardship and distress. The Charity raises funds primarily from its trading subsidiary and through investing surplus funds. The aim is to distribute these profits to organisations that fall within the objectives of the Charity. The Trustees confirni 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. AClItEVEMENTS AND PERFORMANCE The Chartty made grants totalling £82,208 (2023: £147,482) to other Charities. The b¢nefits that these Charities provide include: Financial support to the poor Relief of sickness and disabilities Jewish education and places of worship for the Jewish community FINANCIAL REVIEW The financial position of the Charity and its subsidiary is satisfactory. The Charity's Financial Statements show a net revenue profit of £16,770 (2023: deficit of £100,899) and total reserves of £654,014 (2023: £637,244). Voluntary income during the year amounted to £103,840 and income from investments aggregated £11.681. Total resources expended were £83,751 . The financial results of the Charity's activities for th¢ year to 31 March 2024 are fully reflected in the attached Financial Statements together with the Notes ther¢on. Reserves Policy It is the policy of the Charity to maintain unrestricted funds at a level which the Trustees Consider appropriate after taking account of its future commitments. Grant making policy The Trustees are approached for donations by a wide variety of charitable institutions operating in the United Kingdom. The Trustees consider all requests which they receive and make donations based on the level of funds available. Principal Funding Sources The Charity's principal funding sources in the year were its investhient portfolio, together with donations received from the subsidiary Company. PLANS FOR FirruRE PERIODS The Charity plans to continue the activities outlined above in the forthcoming YrS subjcct to satisfactory incoming resources.
NEDIV LEV LTD COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (coK(inuedJ YEAR EM)ED 31 MARCH 2024 SMALL COlPANy PROVISIONS This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies ex¢mption. The trustees, annual report was approved onth SknW...&.9<and signed on behalf of the board of trustees by: r P N Brander Trustee
NEDIV LEV LTD COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEDIV LEV LTD YEAR ENDED 31 MARCH 2024 I report to the trnstees on my examination of the financial statements of Nediv Lev Ltd {'the charity,) for the year ended 31 March 2024. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 Cthe 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 exarnination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 20 I l ('the 201 l Act,). In carying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. tNDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me caus¢ to believe.. accounting records w¢r¢ 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 'true 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 Reporting Stsndard 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. As ier temliclit FCA Cohen Arnold Independent Examiner New Burlington House 1075 Finchley Road LONDON NWI I OPU
NEDIV LEV LTD COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2024 2024 Unrestricted funds Total funds Totsl funds 2023 Note Income and endowments Donations and legacies Investment incom¢ 103,840 12,850 103,840 12,850 116,690 35,965 13,144 Total income 116,690 49.109 Expenditure Expenditure on raising funds: Investment management costs Expenditure on charitable activities Total expellditure (1,169) (83,751) (84,920) (1,169) (1,057) (83.751) (148.951) (84,920) (150,008) Net losses on investments 11 (15.000) (15,000) Net incomel(expenditure) and net movement in fund8 16,770 16,770 (100.899) Reconciliation of funds Total funds brought forward Total funds carried forward 637,244 654,014 637244 738,143 637,244 654,014 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 7 to 13 form part of these financial statements.
NEDIV LEV LTD COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL POSITION 31 MARCH 2024 2024 2023 Note FIXED ASSETS Investments 15 490,000 505,000 CURREiYf ASSETS Cash at bank and in hand 166,697 133.847 CREDITORS: amounts falling due within one year 16 (2,683) (1,603) 132,244 NET CURRENT ASSETS 164,014 TOTAL ASSETS LESS CURRENT LIABILITIES 654,014 637.244 FUNDS OF THE CHARITY Unrestricted funds 654,014 637,244 Total charity funds 17 654,014 637,244 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 obtain 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 companies subject to the small companies, regim¢. Tliese financial statements were approved by tlie board of trustees and authorised for issue on J.1•-..Wand are signed on behalf of the board by: Mr P N Brander Trustee The notes on pages 7 to 13 form part of these financial statements.
NEDIV LEV LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 General information 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 150 Kyverdale Road, London, N16 6PU. 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. Accounting policie8 Basis of preparation 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. CoDsolidation The charity is not required to prepare consolidated accounts in accordance with the Charities Act 2011, and has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the charity and its subsidiary undertakings comprise a small group. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affcct the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discr¢tion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earniarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the ternis of an appeal, and fall into on¢ of two sub-classes: restricted income funds or endowment funds.
NEDIV LEV LTD COMPANY LIMITED BY GUAIL4NTEE NOTES TO THE FINANCIAL STATEMENTS (eOMliNued) YEAR ENDED 31 MARCH 2024 Accounting policies fconlivued) 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. Income from donations or grants is recognised when ther¢ is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Resources expended Expenditure is recognised as soon as there is a present obligation committing the Charity to pay out resources, it is probable that a transfer of economic benefits will be required in settlcment and the arnount can be mcasured or estimated reliably. Support costs Support costs are those costs which are cotnmon to all areas of the organisation. These are allocated across all areas of activity on the basis of the number of service users for each activity. Governance costs Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity. These costs include audit, legal advice for Trustees and costs associated with meeting constitutional and statutory requirements such as the cost of Trustee meetings and the preparation of the statutory accounts. Investment in subsidiary undertaking Shareholdings acquired are included at market value. any surplus or deficit on revaluation is shown in the Statement of Financial Activities. Investment propertles Investment Properties are included in the Balance Sheet at fair value in accordance with Statement of Recommended Practice (SORP). Investment property fair valLie is deterniined by the Trustees based on their understanding of property market conditions and the specific property concerned. Unrealised gains and losses are shown in the Statement of Financial Activities. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators cxist. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impairn]ents are also reviewed for possible reversal at each reporting date.
NEDIV LEV LTD COMPANY LIMITED BY GUAII4NTEE NOTES TO THE FINANCIAL STATEMENTS (coniinued) YEAR ENDED 31 MARCH 2024 Accounting policies (conlintsed) Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrunient. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a simtlar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Limited by guArantee The company is limited by guarantee. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 DONATIONS Donations received 103,840 103,840 35,965 35,965 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Incom¢ from investment properties 12,850 12,850 13.144 13,144 Investment management costs Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Property repairs and maintenance charges 1,169 1,169 1,057 1,057
NEDIV LEV LTD COMPANY LIMITED BY GUAIL4NTEE NOTES TO THE FINANCIAL STATEMENTS feonilllued) YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Education, Furtherance of Jewish Religion and Alleviation of Poverty Support costs 82,208 1,543 82,208 1,543 147,482 1,469 147.482 1,469 83,751 83,751 148,951 148,951 Expenditure OD charitable activitie$ by activity type Grnnt funding of activities Support costs Total funds 2024 Total fund 2023 Education, Furtherance of Jewish Religion and Alleviation of Poverty Governance costs 82,208 82,208 1543 147,482 1,469 1,543 82,208 .543 83,751 148,951 10. Analysis of grants 2024 GRANTS TO tNSTITUTIOIYS Friends of Mercaz Hatorah Belz Macnivka Machzikei Lomdei Torah Amud Hatzdokoh Trust Bels Aharon TT Activity Centre Live & Learn Adath Yisroel Synagogue Heichalei Hakodesh Other donations less than £3,000 25,120 21,200 6JS0 5,680 5,000 5,000 4,083 9,775 82,208 82,208 Total grants 11. Net losses on investments Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Net losses on revaluation of investments (15,000) (15,000) io
NEDIV LEV LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024 12. Independent examination fees 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 1,080 1,050 13. Staff costs There were no employees during the year. 14. Trustee remuneration and expenses No Trustees have been paid any remuneration or received any other benefits from the charity. 15. Investments Shares in group Other undertakings investments Totsl Valuation At l April 2023 Additions Fair value movements 305,000 200,000 505,000 {15,000) 290,000 (15,000) 490,000 At 31 March 2024 200,000 Impairment At l April 2023 And 31 March 2024 Carrying amount At 31 March 2024 290,000 200,000 490,000 505,000 At 31 March 2023 305,000 200,UOO All investments shown above are held at valuation. The Company's investment properties were valued by the trustees, based on their understanding of property market conditions and the specific property concerned. The historical cost of the investment properties is £153,517. The Company holds the whole of the issued Share Capital of Pramdale Co. Limited which is incorporated in Great Britain and regiSted in England.
NEDIV LEV LTD COMPANY LIMITED BY GUAIL4NTEE NOTES TO THE FINANCIAL STATEMENTS (collilnued) YEAR ENDED 31 MARCH 2024 16. Creditors: amounts falling due witbin one year 2024 2023 Other creditors 2,683 1,603 17. Analysis of charitable funds Unrestricted funds At l April 2023 Gains and At 31 March losses 2024 Income Expenditure General funds 637,244 116,690 (84,920) (l5,000) 654.014 At l April 2022 Gains and At 31 March losses 2023 Income Expenditure General funds 738,143 49,109 (150,008) 637,244 18. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Investments Current assets Creditors less than l year 200,000 290,000 166,697 (2.683) 654,014 200,000 290,000 166,697 (2,683) 654,014 Net assets Unrestricted Total Funds Funds 2023 Tangible fixed assets Investments Current assets Creditors less than l yr 200,000 305,000 133,847 (1,603) 637.244 200,000 305,000 133,847 (1,603) 637,244 Net assets 12
NEDIV LEV LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {eoKllnMed) YEAR ENDED 31 MARCH 2024 19. Related parties Included in donations received amounts aggregating £103,000 received from the subsidiary undertaking, Pramdale Co, Limited. Included in Other creditors in an interest free loan of £503 owed to the subsidiary undertaking, Pramdale Co. Limited. 13