COMPANY REGISTRATION NUMBER: 06099877 CHARITY REGISTRATION NUMBER: 1118446
L.H.H. LIMITED
Company Limited by Guarantee UNAUDITED FINANCIAL STATEMENTS
31 DECEMBER 2021
COHEN ARNOLD
Chartered Accountants New Burlington House 1075 Finchley Road London NW11 0PU
L.H.H. LIMITED
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
| PAGE | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and expenditure | |
| account) | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 |
L.H.H. LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
YEAR ENDED 31 DECEMBER 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name L.H.H. Limited Charity registration number 1118446 Company registration number 06099877 Principal office and registered New Burlington House office 1075 Finchley Road London NW11 0PU The Trustees Mr Joshua Schreiber Mrs Susan Schreiber Company secretary Mr Joshua Schreiber Independent examiner Joshua Neumann FCA Cohen Arnold New Burlington House 1075 Finchley Road London NW11 0PU
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association.
The day to day affairs of the charity are administered by the 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 apply suitable recruitment and training procedures.
Risk management
The charity has assessed the major risks to which it is exposed, in particular those relating to the operations and finances of the charity, and is satisfied that systems are in place to mitigate its exposure to those risks.
Related Party Transactions
Details of transactions with related parties are disclosed in note 19 to the financial statements.
- 1 -
L.H.H. LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 31 DECEMBER 2021
OBJECTIVES AND ACTIVITIES
The objects for which the charity is established are the advancement of the orthodox Jewish faith, the advancement of orthodox Jewish education, the relief of poverty, sickness and infirmity and the advancement of such other objects as are charitable according to English Law.
The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives, planning future activities and setting the grant making policy for the year.
Grant Making Policy
Grants are made to charitable institutions and organisations in accordance with the objects of the charity.
ACHIEVEMENTS AND PERFORMANCE
During the year under review the charity received charitable donations of £50,000 (2020:£58,000) and made charitable donations of £65,172 (2020:£102,521).
FINANCIAL REVIEW
The financial results of the charity for the year ended 31 December 2021 are fully reflected in the attached financial statements together with the notes thereon.
Financial position
The financial position of the charity is satisfactory. The charity's statement of financial activities shows total reserves of £93,383 (2020:£110,365).
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are 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 governance costs of the charity for the next year.
The charity's main activity is grant making. The trustees have not made any binding commitments and as such are able to control the level of donations and ensure the continued viability of the charity.
Investment policy
Under the memorandum and articles of association, the company has the power to make investments which the trustees consider appropriate.
The trustees consider the return on investments to be satisfactory.
PLANS FOR FUTURE PERIODS
The trustees plan to continue to make distributions in accordance with their grant making policy and to ensure that the ability to generate sufficient income is maintained to achieve that end.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
- 2 -
L.H.H. LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
(continued)
YEAR ENDED 31 DECEMBER 2021
The trustees' annual report was approved on .............................. and signed on behalf of the board of 28 September 2022 trustees by:
Mr Joshua Schreiber Trustee
- 3 -
L.H.H. LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF L.H.H. LIMITED
YEAR ENDED 31 DECEMBER 2021
I report to the trustees on my examination of the financial statements of L.H.H. Limited ('the charity') for the year ended 31 December 2021.
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 ('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 the 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
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 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 fair' 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 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.
Joshua Neumann FCA Cohen Arnold Independent Examiner
New Burlington House 1075 Finchley Road London NW11 0PU
28 September 2022
- 4 -
L.H.H. LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 DECEMBER 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 50,000 | 50,000 | 58,000 |
| Investment income | 6 | 6,970 | 6,970 | 7,295 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total income | 56,970 | 56,970 | 65,295 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Investment management costs | 7 | (4,093) | (4,093) | (1,189) |
| Expenditure on charitable activities | 8,9 | (69,023) | (69,023) | (106,531) |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | ||
| Total expenditure | (73,116) | (73,116) | (107,720) | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ | ||
| Net losses on investments | 10 | (836) | (836) | (5,272) |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | ||
| Net expenditure and net movement in funds | (16,982) | (16,982) | (47,697) | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 110,365 | 110,365 | 158,062 | |
| ৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 93,383 ৶৶৶৶৶৶৶৶৶৶ |
93,383 ৶৶৶৶৶৶৶৶৶৶ |
110,365 ৶৶৶৶৶৶৶৶৶৶ |
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 14 form part of these financial statements.
- 5 -
L.H.H. LIMITED
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
31 DECEMBER 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Investments | 14 | 101,222 | 102,058 | ||
| CURRENT ASSETS | |||||
| Debtors | 15 | 1,903 | 5,877 | ||
| Cash at bank and in hand | – | 9,390 | |||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||||
| 1,903 | 15,267 | ||||
| CREDITORS: amounts falling due | |||||
| within one year | 16 | (9,742) | (6,960) | ||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||||
| NET CURRENT | |||||
| (LIABILITIES)/ASSETS | (7,839) | 8,307 | |||
| ৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | ||||
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 93,383 | 110,365 | |||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | ||||
| NET ASSETS | 93,383 | 110,365 | |||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ | ||||
| FUNDS OF THE CHARITY | |||||
| Unrestricted funds | 93,383 | 110,365 | |||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | ||||
| Total charity funds | 17 | 93,383 | 110,365 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ |
For the year ending 31 December 2021 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' regime.
These financial statements were approved by the board of trustees and authorised for issue on 28 September 2022 ........................, and are signed on behalf of the board by:
Mr Joshua Schreiber Trustee
The notes on pages 7 to 14 form part of these financial statements.
- 6 -
L.H.H. LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
1. GENERAL INFORMATION
L.H.H. Limited ("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 New Burlington House, 1075 Finchley Road, London, NW11 0PU.
2. 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.
3. ACCOUNTING POLICIES
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 investments measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The charity meets the definition of a public benefit entity under FRS 102.
Going concern
The financial statements have been prepared on a going concern basis notwithstanding the charity's net current liabilities, in view of the continued financial support provided by the trustees.
The charity's main activity is grant making. The charity has modest overheads and the trustees have the ability to exercise control over the charity's grant making charitable activities and to call on support from benefactors, such that the trustees believe the charity will continue as a going concern.
Judgements and key sources of estimation uncertainty
Judgements made by the directors, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are discussed below:
i. Property valuations
The valuation of the company's investment property is inherently subjective, depending on many factors, including the individual nature of the property, its location and expected future net rental values, market yields and comparable market transactions. Therefore the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
- 7 -
L.H.H. LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2021
3. ACCOUNTING POLICIES (continued)
Judgements and key sources of estimation uncertainty (continued)
ii. Trade debtors
Management uses details of the age of trade debtors and the status of any disputes together with external evidence of the credit status of the counterparty in making judgements concerning any need to impair the carrying values.
Taxation
The charity is not liable to direct taxation on its income or gains, whether realised or not, as it falls within the various exemptions liable to registered charities. Accordingly, the charity does not recognise any deferred tax liability on property revaluations as no tax would be due in the event of a disposal as the charity would benefit from the relevant exemptions, as it will apply all funds for qualifying charitable purposes.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Income
All donations are recognised in the Statement of Financial Activities (SOFA) of the charity when it has unconditional entitlement to the resources. Donations represent voluntary amounts received during the year.
All other income is recognised on a receivable basis. This includes income from investments and deposits, rentals from property assets and grants and donations received by the charity.
Expenditure
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Investment management costs include costs relating to the investment properties on an accrual basis.
Governance costs include the costs of the preparation and examination of Statutory Accounts, the costs of trustee meetings and cost of any legal advice to Trustees on governance or constitutional matters and is recognised on an accrual basis.
Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
Fixed assets
All fixed assets are initially recorded at cost.
Listed investments
Listed investments held as fixed assets are revalued at mid-market value at the balance sheet date and the gain or loss is taken to the Statement of Financial Activities (SOFA).
- 8 -
L.H.H. LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2021
3. ACCOUNTING POLICIES (continued)
Investment property
Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in the statement of financial activities in the year that they arise.
No depreciation is provided in respect of investment properties applying the fair value model.
The company's investment property was valued by Mr J Schreiber (a Trustee) based on his understanding of property market conditions using a sales valuation approach, derived from recent comparable transactions and market yields, adjusted by applying discounts to reflect status of occupation and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all its financial liabilities.
Basic financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits.
Trade and other debtors
Trade and other debtors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.
Trade and other creditors
Trade and other creditors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.
4. LIMITED BY GUARANTEE
The charity is a company limited by guarantee and has no share capital. The liability of each trustee in the event of winding up is limited to £1.
- 9 -
L.H.H. LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2021
5. DONATIONS AND LEGACIES
| 5. | DONATIONS AND LEGACIES | ||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| DONATIONS | |||||
| Donations Received | 50,000 | 50,000 | 58,000 | 58,000 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| 6. | INVESTMENT INCOME | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Rent and charges receivable from | |||||
| investment properties | 6,970 | 6,970 | 7,295 | 7,295 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 7. | INVESTMENT MANAGEMENT | COSTS | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Repairs and renewals | 214 | 214 | – | – | |
| Legal and professional | 2,190 | 2,190 | – | – | |
| Sundry expenses | 88 | 88 | 66 | 66 | |
| Management expenses | 1,265 | 1,265 | 1,123 | 1,123 | |
| Letting commission | 336 | 336 | – | – | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| 4,093 | 4,093 | 1,189 | 1,189 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 8. | EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Donations paid | 65,172 | 65,172 | 102,521 | 102,521 | |
| Support costs | 3,851 | 3,851 | 4,010 | 4,010 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | ||
| 69,023 | 69,023 | 106,531 | 106,531 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ | ||
| 9. | EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE | ||||
| Grant funding | Total funds | Total fund | |||
| of activities | Support costs | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Donations paid | 65,172 | – | 65,172 | 102,521 | |
| Governance costs | – | 3,851 | 3,851 | 4,010 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | ||
| 65,172 | 3,851 | 69,023 | 106,531 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ |
- 10 -
L.H.H. LIMITED COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2021
9. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE (continued)
GRANTS PAYABLE
The following grant payments were made during the year ended 31 December 2021:
| £ | |
|---|---|
| Amud Hatzdokoh Trust | 10,735 |
| Bait Limud Vchesed | 1,110 |
| Be'er Yitzchok Trust | 1,150 |
| BHS Trust Fund | 1,780 |
| Chasdei Moishe Trust | 1,280 |
| CML | 4,740 |
| Ezer Mikoidesh Foundation | 1,180 |
| Friends Of Toldos Avrohom Yitzchok | 1,000 |
| Hatzola | 5,100 |
| JCOCI Educational Foundation Ltd | 2,500 |
| Kollel Tchernobel Trust | 2,330 |
| Kyl Central Shul Trust | 2,000 |
| Machsikei Yeshive | 3,000 |
| The Z.S.V. Trust | 2,710 |
| Toldos Aharon Trust Limited | 2,100 |
| United Talmudical Associates Limited | 2,047 |
| Yeshiva Gedoilah Torah Veyirah Limited | 3,450 |
| Yetev Lev London Jerusalem Trust | 1,005 |
| Amounts below £1,000 | 15,955 |
| ৄৄৄৄৄৄৄৄৄ | |
| Total Grants Payable | 65,172 |
| ৶৶৶৶৶৶৶৶৶ |
All the grants were made to UK charitable institutions for the purposes of either the advancement of Jewish education or the alleviation of poverty.
10. NET LOSSES ON INVESTMENTS
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Deficit on revaluation of listed | |||||
| investments | (836) | (836) | (5,272) | (5,272) | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 11. | INDEPENDENT EXAMINATION FEES | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 3,480 | 3,600 | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
- 11 -
L.H.H. LIMITED COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2021
12. STAFF COSTS
The average head count of employees during the year was nil (2020: nil).
13. TRUSTEE REMUNERATION AND EXPENSES
There were two trustees who served during the year. The trustees did not receive any remuneration for their services nor did they receive any reimbursement for out of pocket expenses.
14. INVESTMENTS
| INVESTMENTS | |||
|---|---|---|---|
| Listed | Investment | ||
| investments | properties | Total | |
| £ | £ | £ | |
| Valuation | |||
| At 1 January 2021 | 2,058 | 100,000 | 102,058 |
| Fair value movements | (836) | – | (836) |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | |
| At 31 December 2021 | 1,222 | 100,000 | 101,222 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ | |
| Impairment | |||
| At 1 January 2021 and 31 December 2021 | – | ||
| ৶৶৶৶৶৶৶৶৶৶ | |||
| Carrying amount | |||
| At 31 December 2021 | 1,222 | 100,000 | 101,222 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ | |
| At 31 December 2020 | 2,058 | 100,000 | 102,058 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ |
All investments shown above are held at valuation.
Listed investments
The fair value of the listed investments at the balance sheet date is determined using quoted prices.
The historical cost of listed investments at 31 December 2021 is £86,728 (2020: £86,728).
Investment properties
The company's investment property was valued by Mr J Schreiber (a Trustee) based on his understanding of property market conditions using a sales valuation approach, derived from recent comparable transactions and market yields, adjusted by applying discounts to reflect status of occupation and condition.
The historical cost of the investment properties is £30,000 (2020: £30,000).
In accordance with the company's stated accounting policy (see Note 3) no depreciation has been provided in respect of freehold properties which are held for investment purposes.
- 12 -
L.H.H. LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2021
15. DEBTORS
| DEBTORS | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Trade debtors | 1,890 | 5,864 |
| Other debtors | 13 | 13 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 1,903 | 5,877 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |
| CREDITORS: amounts falling due within one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Bank loans and overdrafts | 12 | – |
| Accruals and deferred income | 3,480 | 6,960 |
| Directors' loan accounts | 6,250 | – |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 9,742 ৶৶৶৶৶৶৶ |
6,960 ৶৶৶৶৶৶৶ |
16. CREDITORS: amounts falling due within one year
17. ANALYSIS OF CHARITABLE FUNDS
Unrestricted funds
| At | |||||||
|---|---|---|---|---|---|---|---|
| At | Gains and | 31 | December | ||||
| 1 | January 2021 | Income | Expenditure | losses | 2021 | ||
| £ | £ | £ | £ | £ | |||
| General funds | 110,365 | 56,970 | (73,116) | (836) | 93,383 | ||
| ৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| At | |||||||
| At | Gains and | 31 | December | ||||
| 1 | January 2020 | Income | Expenditure | losses | 2020 | ||
| £ | £ | £ | £ | £ | |||
| General funds | 158,062 | 65,295 | (107,720) | (5,272) | 110,365 | ||
| ৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ |
- 13 -
L.H.H. LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2021
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Investments | 101,222 | 101,222 |
| Current assets | 1,903 | 1,903 |
| Creditors less than 1 year | (9,742) | (9,742) |
| ৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | |
| Net assets | 93,383 | 93,383 |
| ৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ | |
| Unrestricted | Total Funds | |
| Funds | 2020 | |
| £ | £ | |
| Investments | 102,058 | 102,058 |
| Current assets | 15,267 | 15,267 |
| Creditors less than 1 year | (6,960) | (6,960) |
| ৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄ | |
| Net assets | 110,365 | 110,365 |
| ৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶ |
19. RELATED PARTY TRANSACTIONS
During the year the charity received Gift Aid of £40,000 (2020: £51,000) from J S Estates Limited and £10,000 (2020: £7,000) from Keepfine Limited. The aforementioned companies have connections with this charity either through their boards or through their shareholders.
Trade debtors include £1,877 (2020: £5,864) due on management account from J S Estates Limited, a company of which Mr J Schreiber is a director and in which he is interested in the share capital. The amount is interest free and repayable on demand.
An amount of £6,250 (2020: £nil) was due to Mr and Mrs J Schreiber at 31 December 2021, which is interest free and repayable on demand.
- 14 -