Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
COMPANY REGISTRATION NUMBER: 6081938 CHARITY REGISTRATION NUMBER: 1119123
WATERPARK FRIENDSHIP LIMITED COMPANY LIMITED BY GUARANTEE UNAUDITED FINANCIAL STATEMENTS
29 FEBRUARY 2024
COHEN ARNOLD Chartered Accountants New Burlington House 1075 Finchley Road LONDON NW11 0PU
Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
WATERPARK FRIENDSHIP LIMITED COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
| PAGES | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 to 3 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and expenditure | |
| account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 to 12 |
Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
WATERPARK FRIENDSHIP LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
YEAR ENDED 29 FEBRUARY 2024
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 29 February 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name Waterpark Friendship Limited Charity registration number 1119123 Company registration number 6081938 Registered office New Burlington House 1075 Finchley Road London NW11 0PU THE TRUSTEES Mr S Y M Neumann Mr R Ost Mr M Braceiner Independent examiner David Goldberg, FCA DChA New Burlington House 1075 Finchley Road LONDON NW11 0PU
STRUCTURE, GOVERNANCE AND MANAGEMENT
Legal Status
The Charity was incorporated on 5[th] February 2007 and is governed by its Memorandum and Articles of Association.
Management
The Charity is run by the trustees who all act in an honorary capacity.
Risk management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems help reduce the exposure to risks.
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Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
WATERPARK FRIENDSHIP LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 29 FEBRUARY 2024
OBJECTIVES AND ACTIVITIES
Objectives
The objectives of the Charity are:
(a) to assist and promote the advancement and furtherance of the Jewish Religion and Jewish religious education,
(b) to alleviate poverty among the Jewish Community throughout the world; and
(c) to undertake other charitable activities that the Trustees may from time to time determine.
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.
Activities
The Charity holds investment properties, the income from which is spent on achieving the Charity's objectives by making donations and grants to charitable organisations with similar objectives.
Grant making policy
Grants are made to charitable institutions and organisations which accord with the objects of the Charity.
ACHIEVEMENTS AND PERFORMANCE
During the year the Charity made donations totalling £74,300 (2023: £63,350) to other charitable institutions in Great Britain. No change in activities is envisaged in the immediate future.
FINANCIAL REVIEW
As at 29 February 2024 the Charity had £1,275,558 Unrestricted Funds.
Reserves Policy
It is the policy of the Charity to maintain unrestricted funds, which are the free reserve of the Charity, at a level, which the Trustees think appropriate after considering the future commitments of the Charity and the likely administrative costs of the Charity for the next year.
Investment Powers and Policy and Objectives
Under the memorandum and articles of association, the Charity has the power to make any investment, which the Trustees see fit. The Trustees regularly review the Charity's position and needs in respect of the investment policy.
PLANS FOR FUTURE PERIODS
The Charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory incoming resources.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
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Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
WATERPARK FRIENDSHIP LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 29 FEBRUARY 2024
The trustees' annual report was approved on 20 November 2024 and signed on behalf of the board of trustees by:
[Brawn] |[Muy] Signed[ M] by:
Mr M Braceiner Trustee
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Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
WATERPARK FRIENDSHIP LIMITED COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WATERPARK FRIENDSHIP LIMITED
YEAR ENDED 29 FEBRUARY 2024
I report to the trustees on my examination of the financial statements of Waterpark Friendship Limited ('the charity') for the year ended 29 February 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 ('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.
[DavidDocuSignedBC6977A458CD499... Lallbery by:
David Goldberg, FCA DChA
Cohen Arnold New Burlington House 1075 Finchley Road LONDON NW11 0PU
20 November 2024
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Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
WATERPARK FRIENDSHIP LIMITED COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 29 FEBRUARY 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Investment income | 5 | 122,841 | 122,841 | 124,737 |
| Other income | 6 | 60,052 | 60,052 | – |
────────── |
────────── |
────────── |
||
| Total income | 182,893 | 182,893 | 124,737 | |
══════════ |
══════════ |
══════════ |
||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Investment management costs | 7 | (47,639) | (47,639) | (19,566) |
| Expenditure on charitable activities | 8,9 | (79,661) | (79,661) | (68,145) |
────────── |
────────── |
────────── |
||
| Total expenditure | (127,300) | (127,300) | (87,711) | |
══════════ |
══════════ |
══════════ |
||
────────── |
────────── |
────────── |
||
| Net income and net movement in funds | 55,593 | 55,593 | 37,026 | |
══════════ |
══════════ |
══════════ |
||
| Reconciliation of funds | ||||
| Total funds brought forward | 1,219,965 | 1,219,965 | 1,182,939 | |
───────────── |
───────────── |
───────────── |
||
| Total funds carried forward | 1,275,558═════════════ |
1,275,558═════════════ |
1,219,965═════════════ |
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 12 form part of these financial statements.
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Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
WATERPARK FRIENDSHIP LIMITED COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Investments | 14 | 1,120,000 | 1,120,000 | |
| Current assets | ||||
| Debtors | 15 | 75,756 | 75,756 | |
| Cash at bank and in hand | 99,979 | 52,218 | ||
| ────────── | ────────── | |||
| 175,735 | 127,974 | |||
| Creditors: amounts falling due within one year | 16 | (3,000) | (3,000) | |
| ────────── | ────────── | |||
| Net current assets | 172,735 | 124,974 | ||
| ───────────── | ───────────── | |||
| Total assets less current liabilities | 1,292,735 | 1,244,974 | ||
| Creditors: amounts falling due after more than | ||||
| one year | 17 | (17,177) | (25,009) | |
| ───────────── | ───────────── | |||
| Net assets | 1,275,558 | 1,219,965 | ||
| ═════════════ | ═════════════ | |||
| Funds of the charity | ||||
| Unrestricted funds | 1,275,558 | 1,219,965 | ||
| ───────────── | ───────────── | |||
| Total charity funds | 18 | 1,275,558 | 1,219,965 | |
| ═════════════ | ═════════════ |
For the year ending 29 February 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' regime.
These financial statements were approved by the board of trustees and authorised for issue on 20 November 2024, and are signed on behalf of the board by:
Mr M Braceiner
Trustee
The notes on pages 7 to 12 form part of these financial statements.
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Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
WATERPARK FRIENDSHIP LIMITED COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
1. 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 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 except that investment properties are measured at fair value through income and expenditure.
The financial statements are prepared in Sterling, which is the functional currency of the entity.
The Charity constitutes a public benefit entity as defined by FRS 102.
Going concern
There are no material uncertainties about the Charity's ability to continue.
Judgements and key sources of estimation uncertainty
In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
Fund accounting
General unrestricted funds comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.
Restricted funds are funds subject to specific restricted conditions imposed by donors. There are no restricted funds as at the Balance Sheet date.
Designated funds are funds which have been set aside at the discretion of the Trustees for specific purposes. There are no designated funds as at the Balance Sheet date.
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Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
WATERPARK FRIENDSHIP LIMITED COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 29 FEBRUARY 2024
3. ACCOUNTING POLICIES (continued)
Incoming resources
All income is 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.
Expenditure and liabilities
All expenditure is classified under the charity's principal categories of charitable and other expenditure and by the type of expense. Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Grants payable
These are only recognized in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.
Support costs
Support costs are those costs which are common to all areas of the organisation.
Governance costs
Include costs of the preparation and examination of the Charity's accounts, the cost of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.
Fixed assets
All fixed assets are initially recorded at cost.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in the Income and Expenditure Account.
No depreciation is provided in respect of investment properties applying the fair value model.
Acquisitions and disposals of properties
Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the financial statements accordingly.
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Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
WATERPARK FRIENDSHIP LIMITED COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 29 FEBRUARY 2024
3. ACCOUNTING POLICIES (continued)
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
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 similar 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.
4. LIMITED BY GUARANTEE
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.
5. INVESTMENT INCOME
| INVESTMENT INCOME | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Income from investment properties | 122,841 | 122,841 | 124,737 | 124,737 |
══════════ |
══════════ |
══════════ |
══════════ |
6. OTHER INCOME
| 6. | OTHER INCOME | ||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Other income | 60,052 | 60,052 | – | – | |
═════════ |
═════════ |
════ |
════ |
||
| 7. | INVESTMENT MANAGEMENT COSTS | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Investment property management costs | 47,639 | 47,639 | 19,566 | 19,566 | |
═════════ |
═════════ |
═════════ |
═════════ |
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Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
WATERPARK FRIENDSHIP LIMITED COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 29 FEBRUARY 2024
8. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Grants payable | 74,300 | 74,300 | 63,350 | 63,350 |
| Support costs | 5,361 | 5,361 | 4,795 | 4,795 |
───────── |
───────── |
───────── |
───────── |
|
| 79,661 | 79,661 | 68,145 | 68,145 | |
═════════ |
═════════ |
═════════ |
═════════ |
9. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Grant funding | Total funds | Total fund | ||
|---|---|---|---|---|
| of activities | Support costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Grants payable | 74,300 | 1,475 |
75,775 | 64,764 |
| Governance costs | – | 3,886 |
3,886 | 3,381 |
───────── |
─────── |
───────── |
───────── |
|
| 74,300 | 5,361 |
79,661 | 68,145 | |
═════════ |
═══════ |
═════════ |
═════════ |
All grants were paid to institutions and went towards one of the following purposes; the relief of poverty, advancement of Jewish religion and advancement of Jewish religious education.
The following grants were paid during the year:
| £ | |
|---|---|
| Amud Hatzdokoh Trust | 10,000 |
| Bait Limud Vchesed | 10,000 |
| Bederech Kovod | 9,500 |
| Chevras Mo'oz Ladol | 20,000 |
| New Rachmistrivke Synagogue Trust | 10,000 |
| Rinat Aharon | 10,050 |
| Other | 4,750 |
───────── |
|
| 74,300 | |
═════════ |
10. ANALYSIS OF SUPPORT COSTS
| ANALYSIS OF SUPPORT COSTS | |||
|---|---|---|---|
| Support costs | Total 2024 | Total 2023 | |
| £ | £ | £ | |
| Interest on bank loans and similar charges | 1,475 | 1,475 | 1,414 |
| Independent examination fees | 2,940 | 2,940 | 3,000 |
| Legal & Professional fees | 946 | 946 | 381 |
─────── |
─────── |
─────── |
|
| 5,361 | 5,361 | 4,795 | |
═══════ |
═══════ |
═══════ |
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Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
WATERPARK FRIENDSHIP LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 29 FEBRUARY 2024
11. INDEPENDENT EXAMINATION FEES
| INDEPENDENT EXAMINATION FEES | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 2,940 | 3,000 |
═══════ |
═══════ |
12. STAFF COSTS
No salaries or wages have been paid to employees during the year.
13. TRUSTEE REMUNERATION AND EXPENSES
There was no remuneration paid to the trustees. The charity did not meet any individual expenses incurred by the trustees for services provided to the charity.
14. INVESTMENTS
| INVESTMENTS | |
|---|---|
| Investment | |
| properties | |
| £ | |
| Cost or valuation | |
| At 1 March 2023 and 29 February 2024 | 1,120,000 |
═════════════ |
|
| Carrying amount | |
| At 29 February 2024 | 1,120,000 |
═════════════ |
|
| At 28 February 2023 | 1,120,000 |
═════════════ |
All investments shown above are held at valuation.
Investment properties
The charity's investment properties were valued by the Trustees based on their experience in the property market and having regard to many factors including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions.
The historical cost of the investment properties is £868,493.
15. DEBTORS
| 15. | DEBTORS | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors | 75,756 | 75,756 | |
═════════ |
═════════ |
||
| 16. | CREDITORS: amounts falling due within one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Accruals and deferred income | 3,000 | 3,000 | |
═══════ |
═══════ |
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Docusign Envelope ID: 02EA57D4-9D86-45FA-9BBA-CF7B126C2DB1
WATERPARK FRIENDSHIP LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 29 FEBRUARY 2024
17. CREDITORS: amounts falling due after more than one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Bank loans and overdrafts | 17,177 | 25,009 |
═════════ |
═════════ |
18. ANALYSIS OF CHARITABLE FUNDS
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At | 29 February | |||
| 1 March 2023 | Income | Expenditure | 2024 | |
| £ | £ | £ | £ | |
| General funds | 1,219,965 | 182,893 | (127,300) | 1,275,558 |
═════════════ |
══════════ |
══════════ |
═════════════ |
|
| At | ||||
| At | 28 February 2 | |||
| 1 March 2022 | Income | Expenditure | 023 | |
| £ | £ | £ | £ | |
| General funds | 1,182,939 | 124,737 | (87,711) | 1,219,965 |
═════════════ |
══════════ |
═════════ |
═════════════ |
|
| ANALYSIS OF NET ASSETS | BETWEEN FUNDS | |||
| Unrestricted | Total Funds | |||
| Funds | 2024 | |||
| £ | £ | |||
| Investments | 1,120,000 | 1,120,000 | ||
| Current assets | 175,735 | 175,735 | ||
| Creditors less than 1 year | (3,000) | (3,000) |
||
| Creditors greater than 1 year | (17,177) | (17,177) |
||
───────────── |
───────────── |
|||
| Net assets | 1,275,558 | 1,275,558 | ||
═════════════ |
═════════════ |
|||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Investments | 1,120,000 | 1,120,000 | ||
| Current assets | 127,974 | 127,974 | ||
| Creditors less than 1 year | (3,000) | (3,000) |
||
| Creditors greater than 1 year | (25,009) | (25,009) |
||
───────────── |
───────────── |
|||
| Net assets | 1,219,965 | 1,219,965 | ||
═════════════ |
═════════════ |
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
20. RELATED PARTIES
There were no related party transactions during the period under review.
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