**COMPANY REGISTRATION NUMBER: 08078377 CHARITY REGISTRATION NUMBER: 1127533**
## **Apte Ltd**
**Company Limited by Guarantee Unaudited Financial Statements 28 February 2022**
**Apte Ltd | Company Limited by Guarantee Trustees and other information**
## **Year ended 28 February 2022**
||**Page**|
|---|---|
|Trustees' annual report|**1-4**|
|Independant examiner's report to the trustees|**5**|
|Statement of financial activities|**8**|
|Statementoffinancialposition|**7**|
|Statementofcash flows|**8**|
|Notestothefinancialstatements|**9-13**|
## **Apte Ltd | Company Limited by Guarantee Trustees and other information**
The trustees present their report and the financial statements of the charity for the year ended 28 February 2022.
## **Reference and administrative details**
**Registered charity name** Apte Ltd **Charity registration number** 1127533 **Company registration number** 06078377 **Prlncipal office** 14 Wellington Street East Salford M7 2AX **The trustees** Mr Jacob Freed Moses Roitenbarg **Bankers** Royal Bank of Scotland 18 Bury Old Road Cheetham Hill Manchester M8 9JN **Independent examiner** The Accountant LTD 132 Broughton St Cheetham Hill Manchester M8 8AN
## **Apte Ltd | Company Limited by Guarantee**
## **Trustees' Annual Report (Incorporating the Director's Report)**
## **Year ended 28 February 2022**
## **Structure, governance and management**
Apte Ltd Is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 1[st] February 2007 as a company and the company number is 06078377. It was registered as a charity on 15[th] January 2009 with a charity number 1127533.
Recruitment and appointment of new trustees would be in line with the Trust Deed and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
There is no chief executive officer. The day to day affairs are undertaken by Mr J Freed on behalf of the trustees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity's employees are the sole domain of the trustees.
There are no policies for the induction or training of new trustees.
## **Risk review**
The risks faced by the trust are principally operational risks from ineffective grant making. These risks aremanaged by the trustees researching potentialbeneficiaries before granting donations.
Report back and review procedures strengthenthese safeguards to ensure public benefit Is achieved from all grants.
## **Apte Ltd | Company Limited by Guarantee Trusustees' Annual Report (Incorporating the Director's Report)** ~~|~~
## **Trusustees' Annual Report (Incorporating the Director's Report)**
## _**(continued) |**_ **Year ended 28 February 2022**
## **Objectlves and activities**
The Charity supports allworth orthodox Jewish causes and the charity achieves its objectives by Making grants and distributing mainly to Jewish education and religious organisations both in the UK and abroad.
The trustees confirm that they have referred to the guidance contained inthe Charity Commission's general guidance on public and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant makig policy for the year.
## **Grant making policy**
The charity has established its grant making policy to achieve Itsobjects for the public benefit The charily invites applications for funding through contacting local philanthropists to contribute towards projects that both the trustees and the philanthropists feel are appropriate for the charlles objects. Theapplication of the funds by way of grantsIs to either institutions or individuals and Is almost always to Institutions.
Thetrustees consider they have met the public benefit test and outline these achievements below. Thetrustees measure the success of achieving the stated aims by the number andvalue of grants paid out for each objects.The grants paid out In theyear are detailedinthe notes to the accounts and the trustees consider they have met their alms successfully this year.
The trustees consider the shorter term aims to be similar to the longer tennalms and mess the achievement of the charityinthe same Wflf.
## **Achievements and performance**
The charity received £301,000 in donations during the year.The charily paid out £295,000 by way of grants and support costs. The grants have been categorised for ease of reference and a full list of grants is available uponawritten request to the trustees. The trustees consider this is line with SORP (FRS 102) paragraph 16.17 on the basis that the categories convey more meaningful information to the reader of the accounts.
These grants were made in line with the stated objects of the charity as analysed below.
The charity has low govemance costs comprising professional fees.
Therewere no material fundraislng costs during the year.
**Apte Ltd | Company Limited by Guarantee**
**Trustees' Annual Report (Incorporating the Director's**
**Report)** _**(continued) |**_ **Year ended 28 February 2022**
## **Financial review**
The trustees feel that the year was an excellent onein terms of income from donations and grants paid out to the beneficiaries.
The trustees are delighted to have made many valu ble contr1butions to the community as a result of these gains and donations and hope to be able to do so for many years to come.
## **Reserves policy**
The Unrestricted Fund represents the unrestricted funds arising from past operating results. Thetrustees wish to keep reserves aslow as possible in order to maximise paying out grants toIsrael.
The Trustees are satisfied that the balance of the Fundis an acceptable level of reserves given the nature of revenue receipts against grants payable.
In considering the limited financialobligations of the charily, the trustees have resolved to maintain a minimum reserve practical.
The deficit stands at £32,134 an of which are unrestricted.
## **Plans for future periods**
The trustees plan to continue to raise funds for projects in line wlh the Trust Deed and pursue those objectives and projects with allthe resources available to the charity.
The trustees are responsible for keeping adequate accounting records that are sutncient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the chartty and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charily and hence for taking reasonable steps for the prevention and detection d fraud and other irregularities. ·
The trustees' annual report was approved on 24th February 2023 and signed on behalf of the board of trustees by:
Trustee
## **The APTE Ltd Company Limited by Guarantee Independent Examiner's Report to the Trustees of The APTE Ltd**
Year anded 28th February 2022
I report to the trustees on my examination of the financial statements of The APTE Ltd ('the charity') for the year ended 28th February 2022.
## Raeponslblltles and basis _ol_ ntpOlt
_As_ the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of thefinancial statements In accordance with the requirements of the Companies _Id._ 2006 ('the 2006 Act').
Having satisfied myselfthat the accounts of thecompany are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, Ireportin 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 Ihave followed the Directions given by the Charity Commission under sectior1145(5)(b) of the 2011 _Id.._
## Independent examiner's statement
Ihave completed my:examination.Iconfirm that no matters have come to my attentionin connection with the examination giving mecause to believe:
1. accounting records were not kept in respect of thedlarity as required by section 386 of the 2006 Act: or
2. the financialstatements do not accord with those records; or
3. 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 ·
4. the financialstatements have not been preparedinaccordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accountsinaccordance with the Financial Reporting Standard applicable in the UK and Republic ofIreland (FRS 102).
Ihave no concerns and have come across no other matters In connection with the examinationto whichattentionshould be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## Independent Examiner
The Accountant LTD 132 Broughton St Cheetham Hill Manchester M8 8AN
24[th] February 2023
I Apte Ltd Company Limited by Guarantee Sta1ement of FinancialActivities
Year ended 28 February 2022
|||2021|2021|2021|2022|
|---|---|---|---|---|---|
|||Unrestricted||||
|||funds|Totalfunds||Totalfunds|
||Note|£||£|£|
|Income and endowments||||||
|Donations and legacies 4||385,401|385,401|385,401385,401|385,401301,000|
|||385,401|385,401|385,401385,401301|301,000|
|TotalIncome||||||
|ExpendltuN||||||
|Expenditureoncharitableactivities 5,6||(426,019)||(426,019)(426,019)|(426,019)(295,000)|
|Net expenditure and net movementin fund||(40,618)|(40,618)|(40,618)(40,618)|(40,618)6,000|
|Reconciliatlonof funds||||||
|Totalfundsbroughtforward.||5,980|5,980|5,9805,980|(34,638)|
|Totalfundscarr18dforward||(34,638)|(34,638)|(34,638)(34,638)|(34,638)(28.638)|
The statement of financial activities includes au gains and losses recognised in the year. All income and expenditura derive from continuing activities.
Notes to the Financial Statements IYear ended 28 February 2022
## I Apte Ltd Company Limited by Guarantee
## 1. General lnfonnation
lhe charily 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 principal office is 14 Wellington Street East, Salford, M7 2AX.
## 2. Statement of complance
These financialstatements 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 FinancialReporting standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) andthe Companies Ad 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 investment properties measured at fair value through income or expenditure.
The financial slatements ae prepared in sterl ng,which is thefunctional currency of the entity.
## Going concern
lhere are no material uncertainties about the charity's ability to continue. This is due to the policy of the charily not to pay out any charitable grants untilfunds are available. It is therefore appropriate to prepare these accounts on agoing concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates orassumptions that affect the amounts reported.
## Fund accounting
Unrestricted funds held by the charily are funds that can be used in accordance with the charitable objects at the discretion of the trustees.
Apte Ltd Notes to the Financial Statements _(continued}_ IYear ended 28 February 2022
## 3. Accounting pollclH
## Incoming resources
All incoming resources me included in the statement of financial activit es when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will now to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories ofincome:
- i1come from donations or grants js recognised when thereis evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- legacyincomeis 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 services are recognised in the accounts when received if the value can be reliably measured.No amounts are included for the conb1buUon of general volunteers.
- i1come from contracts for the supply of services is recognised with the delivery of the 0011bacted service. This is classified as unresb'icted 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.
## Reaourcea expended
Expenditure is recognised on an accruals basis as a liability is incurred.Expenditure includes any VAT which cannot be fu **l** y 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, noncharitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charily 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 charily apportioned to charitable activities.
- other expenditure Includes all expenditure that is neither related to raising funds for the charily nor part of its expenditure on charitable activities.
Allcosts are allocated to expenditure categories reflecting the use of the resource.Direct costs attributable to a single activity are allocated direclly to that actiVity. Shared costs are apportioned betweenthe activities they contribute to on a reasonable,justifiable and consistent basis.
## Flnanclalinstruments
Afinancial asset or a financialliabilityis recognised only when the charily becomes a party to the contractual provisions of theinstrumei'lt.
Aasic financialinstruments are initially recognised at the amount receivable or payable including any
Notes to the Financial Statements _(continued)_ Year ended 28
## Apte Ltd ICompany Limited by Guarantee
## February 2022
## 3. Accounting pollcles _(conllnued)_
FlnanclalInstruments _(conllnuedJ_
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 aresubsequently measured at amortised cost
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognisedin income and expenditure.Allother such invesbnents are subsequently measured at cost less impairment
Other financialinstruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normalbusiness terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments me subsequentfy measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence ofimpairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which theinitial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individua **l** y significant, these are assessed individually for impairment. Other financial assets are either assessed individua **l** y or grouped onthe basis of similar credit risk characteristics.
/Vry reversals ofimpairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the anying amount would have been had the impairment not previously been recognised. ·
## 4. Donations and legacies
Donations
Unresbicted TotalFunds Unrestricted TotalFunds Funds 2021 Funds 2022 £ £ £ £ 385,401 385,401 301,000 301,000
## I Apte Ltd Company Limited by Guarantee
## Notes to the Financial Statements _(conllnuedJ,_ Year ended 28 February 2022
## 5. Expenditureon charitable activities by fund type
|5.|Expenditureon charitable activities by fund|Expenditureon charitable activities by fundtype|Expenditureon charitable activities by fundtype|type|||||
|---|---|---|---|---|---|---|---|---|
|||Unrestricted||Total Funds|Unrestricted
TotalFunds||||
|||2021 Funds||Funds
|Funds 2022||2022||
||||£|£||£
|£||
||Charitable grants.||422,725|422,725||294,000
294,000|294,000||
||Supportcosts.||3,294|3,294||1,000|1,000||
||||426,019|426,019||295,000 295|000 295,000||
|8.|8.Expenditure on charttabla activ|Expenditure on charttabla activ**i**at a|abyactivity|activitytype|||||
|||Grant funding||Grant funding
Support|Total funds||Total|Totalfund|
|||of|ofactivities|costs||2021|2022||
||||£|£||£|£||
||Charitable grants
Support costs
Governancecosts|422,725||2,294 2,294
1,000|422,725
2,294 2,294|422,725
2,294 2,294
1,000|422,725294,000
1000||
||||422,725|3,294||426.019|295,000||
|7.|Analyslaofsupport costs||||||||
|||||Analysis of|||||
|||||support costs|support costs|support costsTotal2021 Total 2022|2021 Total 2022|2021 Total 2022|
||||||£|£||£|
||Generaloffice||||||||
||Bank Charges|||2,294||2,294|||
||.Accountancy and bookkeepingfees||fees|1,000||1,000|1,000||
|||||3,294||3294|3294
1,000||
## `8.` Expenditure on charttabla activ **i** ata by activity type