COMPANY REGISTRATION NUMBER: 06246378 CHARITY REGISTRATION NUMBER: 1119656 Loson Limited Company Limited by Guarantee Unaudited Financial Statements 31 May 2024 GK & CO. LLP Chartered accountants Hallswelle House l Hallswelle Road London England NW11 ODH Loson Limited Company Limited by Guarantee Financial Statements Year ended 31 May 2024 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows Notes to the financial statements Loson Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 May 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 31 May 2024. Reference and adminislrative details Regislered charity name Loson Limited Charity registration number 1119656 Company registralion number 06246378 Principal off ice and registered Hallswelle House off ice 1 Hallswelle Road London NW11 ODH The truslees Mr A Ackerman Mr M M Saidi Company secrelary A Ackerman Independent examiner Dr P.Smulovitch FCA Hallswelle House 1 Hallswelle Road London England NW11 ODH Structure, governance and management The charity is constituted as a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association. The trustees administer the day-to-day affairs of the charity. None of the trustees have any beneficial interest in the charity. Should Ihe situation change in the future, the trustees will apply suitable recruitment training and induction procedures. 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 and procedures mitigate any perceived risks. Loson Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 May 2024 Objectives and activities The charity's objects are the advancement of religion according to the tenets of the Jewish faith, the advancement of education, the relief of poverty. sickness and infirmity and the advancement of such other objects as are charitable according to English law. Each year the trustees review their objectives and activities to ensure thal they continue to reflect the trustees, aims. In carrying out their review, the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary guidance, with focused regard towards the advancement of the Orthodox Jewish Faith and all its facets for the public benefit. Public Benefit The governors have considered the guidance published by the Charity Commission and believe that the charity in carrying out its objectives, fully complies with these requirements. In particular the provisions of funds for communal charitable institutions automatically gives rise to a public benefit. Each year the governors review the objectives and activities of the charity to ensure that they continue to reflect these aims. In carrying out this review the governors have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit. Grant making policy Grants are made to charitable institutions. organisations and authorised individuals which accord with the objects of the charity. Achievements and performance During the year the charity continued its philanthropic activities in support of religious. education and other charitable institutions and aggregate donations were paid in the sum of £71.100. Financial review Reserves policy At the year end date ,the unrestricted funds, amount to £-1.359 {2023-£4,6661 are as shown on the face of the attached Balance Sheet.It is the policy of the charity to maintain sufficient unrestricted funds, which are the free reserves of the charity. at a level which the trustees believe to be appropriate after taking into consideration both the future commitments of the charity and future plans. Funding The charity does not take part in external funding activities. Inveslment powers, policy and objeclives Under the Memorandum and Articles of Association, the charity has the power to make any investment, which the Irustees see fit. The trustees regularly review the charity's position and needs in respect of the investment policy. Plans for future periods The trustees plan to continue to make distributions in accordance with their grant making policy. Loson Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 May 2024 Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 7 March 2025 and signed on behalf of the board of trustees by.. Mr A Ackerman Trustee Loson Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Loson Limited Year ended 31 May 2024 I report to the trustees on my examination of the financial statements of Loson Limited {'the charity'} for the year ended 31 May 2024. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'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}Ibl 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. Dr P.Smulovitch FCA Independent Examiner Hallswelle House 1 Hallswelle Road London England NW11 ODH 7 March 2025 Loson Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 May 2024 2024 Unreslricted funds Total funds Total funds 2023 Note Income and endowments Donations and legacies Total income 68,500 68,500 68.500 95,000 68.500 95,000 Expenditure Expenditure on charitable activities Total expendilure 72,025 72.025 139.344 72,025 72,025 139,344 Net expenditure and net movement in funds {3.525} (3.525) (44,344} Reconciliation of funds Total funds brought forward Total funds carried forward 4.666 4.666 49,010 1.141 1,141 4,666 The statement of financial aclivilies includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 10 11 form part of Ihese financial slatemenls. Loson Limited Company Limited by Guarantee Statement of Financial Position 31 May 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 2,500 82 5.000 507 2,582 5.507 Creditors: amounts falling due within one year Net current assets 10 1,441 841 1,141 4.666 Total assets less current liabilities 1,141 1,141 4.666 Net assels 4,666 Funds of the charity Unrestricted funds 4,666 Total charity tunds 11 1,141 4.666 For the year ending 31 May 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 restK)nsibilities 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 lo companies subject lo the small companies. regime. These financial statements were approved by the board of trustees and authorised for issue on 7 March 2025, and are signed on behalf of the board by: Mr A Ackerman Trustee The notes on pages 8 10 11 form part of Ihese financial slatemenls. Loson Limited Company Limited by Guarantee Statement of Cash Flows Year ended 31 May 2024 2024 2023 Cash flows from operaling activities Net expenditure (3,525) 144.3441 Adjustments for.. Accrued expensesllincomel Cash generated from operations Net cash used in operating activities 3,100 (425) (425) (5,594) 149,9381 149.9381 Net decrease in cash and cash equivalenls Cash and cash equivalenis ai beginning of year Cash and cash equivalenls al end of year (425) 507 149.9381 50.445 82 507 The notes on pages 8 10 11 form part of Ihese financial slatemenls. Loson Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 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 Hallswelle House, 1 Hallswelle Road. London. NW11 ODH. 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 IFRS 1021 (Charities SORP {FRS 102}l and the Companies Act 2006. 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 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 chariws ability to continue. Fund accounting Unrestricted funds are available for use al the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked 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 terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. Loson Limited Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 May 2024 Accounting policies (conllnued) 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. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlemenl to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and seNices are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of seNices is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which it relates= expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and Ihe sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support cosls and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated lo expenditure categories reflecling the use of the resource. Direct cosls attributable to a single activity are allocated directly to that activity. Shared cosls are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Limited by guarantee Loson Ltd is a charitable company. limited by guarantee. Loson Limited Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 May 2024 Donations and legacies Unrestricted Tolal Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donalions General donations 68.500 68,500 95,000 95,000 Expenditure on charitable activities by fund type Unrestricted Toial Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations paid to other charities Support costs 71.100 925 71,100 925 138,410 934 138,410 934 72.025 72,025 139,344 139,344 Expenditure on charitable activities by activily type Activities undertaken directly Support costs Toial funds 2024 Total fund 2023 Donations paid to other charities Governance costs 71.100 71.100 925 138.410 934 925 71.100 925 72,025 139,344 Independent examination fees 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 600 600 Debtors 2024 2023 Prepayments and accrued income 2,500 5,000 10. Credilors: amounts falling due within one year 2024 2023 Accruals and deferred income 1,441 841 10- Loson Limited Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 May 2024 11. Analysis of charilable funds Unrestricled funds At 1 June 2023 Al Income Expenditure 31 May 2024 General funds 4.666 68.500 {72,025) 1,141 At 1 June 2022 At Income Expenditure 31 May 2023 General funds 49,010 95,000 1139,344) 4,666 12. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net assels 2,582 11,441) 1,141 2,582 (1,441) 1,141 Unrestricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net asseis 507 (841) (334) 507 (841) {334) 13. Analysis ol changes in net debl At At 1 Jun 2023 Cash flows 31 May 2024 Cash at bank and in hand 507 (425) 82 11