REGISTERED COMPANY NUMBER: 05854615 (England and Wales) REGISTERED CHARITY NUMBER: 1115607
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2020 TO 31 OCTOBER 2021
FOR
AVIV CT LIMITED
Michael Pasha & Co Chartered Accountants 220 The Vale Golders Green London NW11 8SR
AVIV CT LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2020 TO 31 OCTOBER 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Cash Flow Statement | 6 |
| Notes to the Cash Flow Statement | 7 |
| Notes to the Financial Statements | 8 to 12 |
AVIV CT LIMITED (REGISTERED NUMBER: 05854615)
REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2020 TO 31 OCTOBER 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 period 1 July 2020 to 31 October 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
Charitable objects
The principal activity of the company was that of a charity, with particular reference to the advancement of education in and the religion of the orthodox Jewish faith, the relief of poverty and for such other purposes as are recognised as charitable by English law.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the trust's aims and objectives and in planning future activities and setting the grant making policy for the year. There have been no material changes in the objectives or policies of the charity during the year under review. To achieve the objects, the charity accepts donations and grants, receives investment income and makes charitable donations and grants to Jewish schools, other educational organisations and other charities.
STRATEGIC REPORT
Achievement and performance
Review of activities and achievements
In furtherance of the objects as stated above, the trustees have accepted donations and grants, have received investment income and have made charitable donations and grants as shown in the attached statement of financial activities.
The balance sheet shows a satisfactory position with undistributed unrestricted funds amounting to £888,245.
Financial review
Investment powers, policy and performance
The charity is able to make any investment which the trustees see fit subject to any conditions (if any) imposed or required by law.
Future plans
The Trustees continue to support various institutions in accordance with the charity's aims.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 22 June 2006 and registered as a charity on 28 July 2006, being registered with the Charity Commission. The company was established under a Memorandum of Association and is governed under its Articles of Association.
As AVIV CT LIMITED is a company limited by guarantee it does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
Organisational structure
The trustees meet at several times during the year, to consider the various ways of advancing the principal activities of the charity. The power to appoint new trustees is vested in the continuing trustees.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05854615 (England and Wales)
Registered Charity number
1115607
Page 1
AVIV CT LIMITED (REGISTERED NUMBER: 05854615)
REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2020 TO 31 OCTOBER 2021
Registered office
First Floor, Winston House 349 Regents Park Road London N3 1DH
Trustees
Mr M D Frankel (resigned 3.12.20) Mr J Pearlman (resigned 3.12.20) Mr A P Rose
Independent Examiner
Mr Michael Weissbraun FCA Michael Pasha & Co Chartered Accountants 220 The Vale Golders Green London NW11 8SR
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 30 August 2022 and signed on the board's behalf by:
Mr A P Rose - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AVIV CT LIMITED (REGISTERED NUMBER: 05854615)
Independent examiner's report to the trustees of Aviv CT Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the period 1 July 2020 to 31 October 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 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 2. the accounts do not accord with those records; or
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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
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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.
Mr Michael Weissbraun FCA Michael Pasha & Co Chartered Accountants 220 The Vale Golders Green London NW11 8SR
Date: 30 August 2022
Page 3
AVIV CT LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD 1 JULY 2020 TO 31 OCTOBER 2021
| Unrestricted Restricted Endowment fund fund fund Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 878,693 - - Investment income 3 14,549 - - Total 893,242 - - EXPENDITURE ON Charitable activities 4 Charitable activities 413,709 - - Net gains/(losses) on investments 295,761 (117,316) (180,000) NET INCOME/(EXPENDITURE) 775,294 (117,316) (180,000) RECONCILIATION OF FUNDS Total funds brought forward 112,951 117,316 180,000 TOTAL FUNDS CARRIED FORWARD 888,245 - - |
Period 1.7.20 to Year Ended 31.10.21 30.6.20 Total Total funds funds £ £ 878,693 70,756 14,549 4,027 893,242 74,783 413,709 22,120 (1,555) (27,335) 477,978 25,328 410,267 384,939 888,245 410,267 |
|---|---|
The notes form part of these financial statements
Page 4
AVIV CT LIMITED (REGISTERED NUMBER: 05854615)
BALANCE SHEET 31 OCTOBER 2021
| Notes FIXED ASSETS Investments Investments 8 Investment property 9 CURRENT ASSETS Debtors 10 Investments 11 Cash at bank CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Unrestricted funds Restricted funds Endowment funds TOTAL FUNDS |
Unrestricted fund £ 372,470 310,000 682,470 26,542 100,253 93,199 219,994 (14,219) 205,775 888,245 888,245 |
Restricted fund £ - - - - - - - - - - - |
Endowment fund £ - - - - - - - - - - - |
2021 Total funds £ 372,470 310,000 682,470 26,542 100,253 93,199 219,994 (14,219) 205,775 888,245 888,245 888,245 - - 888,245 |
2020 Total funds £ - - - - 456,798 53,161 509,959 (99,692) 410,267 410,267 410,267 112,951 117,316 180,000 410,267 |
|---|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2021.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2021 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
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(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 financial statements were approved by the Board of Trustees and authorised for issue on 30 August 2022 and were signed on its behalf by:
Mr A P Rose - Trustee
The notes form part of these financial statements
Page 5
AVIV CT LIMITED
CASH FLOW STATEMENT
FOR THE PERIOD 1 JULY 2020 TO 31 OCTOBER 2021
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by/(used in) operating activities Cash flows from investing activities Purchase of fixed asset investments Purchase of investment property Sale of fixed asset investments Interest received Net cash used in 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 |
Period 1.7.20 to Year Ended 31.10.21 30.6.20 £ £ 367,514 (18,901) 367,514 (18,901) (472,723) - (310,000) - 455,243 (4,252) 4 3,109 (327,476) (1,143) 40,038 (20,044) 53,161 73,205 93,199 53,161 |
|---|---|
The notes form part of these financial statements
Page 6
AVIV CT LIMITED
NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 JULY 2020 TO 31 OCTOBER 2021
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement Financial Activities) Adjustments for: Losses on investments Interest received (Increase)/decrease in debtors Decrease in creditors Net cash provided by/(used in) operations ANALYSIS OF CHANGES IN NET FUNDS Net cash Cash at bank Liquid resources Deposits included in cash Current asset investments Total |
of At 1.7.20 £ 53,161 53,161 - 456,798 456,798 509,959 |
Period 1.7.20 to Year Ended 31.10.21 30.6.20 £ £ 477,978 25,328 1,555 27,335 (4) (3,109) (26,542) 332 (85,473) (68,787) 367,514 (18,901) Cash flow At 31.10.21 £ £ 40,038 93,199 40,038 93,199 - - (356,545) 100,253 (356,545) 100,253 (316,507) 193,452 |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
The notes form part of these financial statements
Page 7
AVIV CT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2020 TO 31 OCTOBER 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, with the exception of investments which are included at market value.
Preparation of consolidated financial statements
The financial statements contain information about Aviv CT Limited as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
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.
2. DONATIONS AND LEGACIES
| Donations | Period 1.7.20 to Year Ended 31.10.21 30.6.20 £ £ 878,693 70,756 |
|---|---|
continued...
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AVIV CT LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2020 TO 31 OCTOBER 2021
3. INVESTMENT INCOME
| 3. | INVESTMENT INCOME | |||
|---|---|---|---|---|
| Period | ||||
| 1.7.20 | ||||
| to | Year Ended | |||
| 31.10.21 | 30.6.20 | |||
| £ | £ | |||
| Rents received | 14,292 | - | ||
| Dividends | 253 | 918 | ||
| Deposit account interest | 4 | 107 | ||
| Investment interest | - | 3,002 | ||
| 14,549 | 4,027 | |||
| 4. | CHARITABLE ACTIVITIES COSTS | |||
| Grant | ||||
| funding of | ||||
| activities | Support | |||
| (see note | costs (see | |||
| 5) | note 6) | Totals | ||
| £ | £ | £ | ||
| Charitable activities | 411,740 | 1,969 | 413,709 | |
| Donations and grants comprise amounts paid to institutions. All donations are | paid directly from the charity to | |||
| the institutions, as follows: | ||||
| Name of charitable organisation | Total donation (£) | |||
| London Academy of Jewish Studies | 200,000 | |||
| British Emunah | 86,500 | |||
| Chana | 35,000 | |||
| Others | 90,240 | |||
| 5. | GRANTS PAYABLE | |||
| Period | ||||
| 1.7.20 | ||||
| to | Year Ended | |||
| 31.10.21 | 30.6.20 | |||
| £ | £ | |||
| Charitable activities | 411,740 | 20,105 | ||
| 6. | SUPPORT COSTS | |||
| Governance | ||||
| costs | ||||
| £ | ||||
| Charitable activities | 1,969 |
continued...
Page 9
AVIV CT LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2020 TO 31 OCTOBER 2021
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 October 2021 nor for the year ended 30 June 2020.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31 October 2021 nor for the year ended 30 June 2020.
8. FIXED ASSET INVESTMENTS
| MARKET VALUE Additions NET BOOK VALUE At 31 October 2021 At 30 June 2020 There were no investment assets outside the UK. 9. INVESTMENT PROPERTY FAIR VALUE Additions At 31 October 2021 NET BOOK VALUE At 31 October 2021 At 30 June 2020 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 11. CURRENT ASSET INVESTMENTS Listed investments |
2021 £ 26,542 2021 £ 100,253 |
Shares in group undertakings £ 372,470 372,470 - £ 310,000 310,000 310,000 - 2020 £ - 2020 £ 456,798 |
Shares in group undertakings £ 372,470 372,470 - £ 310,000 310,000 310,000 - 2020 £ - 2020 £ 456,798 |
|
|---|---|---|---|---|
continued...
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AVIV CT LIMITED
FOR THE PERIOD 1 JULY 2020 TO 31 OCTOBER 2021
NOTES TO THE FINANCIAL STATEMENTS - continued
| 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accruals and deferred income 13. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted funds Endowment funds Endowment funds TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 893,242 Restricted funds Restricted funds - Endowment funds Endowment funds - TOTAL FUNDS 893,242 |
At 1.7.20 £ 112,951 117,316 180,000 410,267 Resources expended £ (413,709) - - **(413,709) ** |
2021 £ 12,250 1,969 14,219 Net movement in funds £ 775,294 (117,316) (180,000) 477,978 Gains and losses £ 295,761 (117,316) (180,000) **(1,555) ** |
2020 £ 96,223 3,469 99,692 At 31.10.21 £ 888,245 - - 888,245 Movement in funds £ 775,294 (117,316) (180,000) 477,978 |
|---|---|---|---|
continued...
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AVIV CT LIMITED
FOR THE PERIOD 1 JULY 2020 TO 31 OCTOBER 2021
NOTES TO THE FINANCIAL STATEMENTS - continued
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.7.19 £ Unrestricted funds General fund 87,623 Restricted funds Restricted funds 117,316 Endowment funds Endowment funds 180,000 TOTAL FUNDS 384,939 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 74,783 (22,120) TOTAL FUNDS 74,783 (22,120) |
Net movement At in funds 30.6.20 £ £ 25,328 112,951 - 117,316 - 180,000 25,328 410,267 Gains and Movement losses in funds £ £ (27,335) 25,328 (27,335) 25,328 |
|---|---|
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31 October 2021.
Page 12