COMPANY REGISTRATION NUMBER: 08078377 CHARITY REGISTRATION NUMBER: 1127533
Apte Ltd
Company Limited by Guarantee Unaudited Financial Statements 28 February 2024
Apte Ltd | Company Limited by Guarantee Trustees and other information
| Year ended 28 February 2024 |
|
|---|---|
| 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 2024.
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 2024
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 Trus ~~|~~ tees' Annual Report (Incorporating the Director's Report)
(continued) | Year ended 28 February 2024
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 £300,000 in donations during the year. The charily paid out £290,000 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.
Trustees' Annual Report (Incorporating the Director's Report) (continued) | Year ended 28 February 2024
Apte Ltd | Company Limited by Guarantee
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 contributions 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 financial obligations of the charily, the trustees have resolved to maintain a minimum reserve practical.
The deficit stands at £15,600 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 sufficient 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 26th July 2025 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 2024
I report to the trustees on my examination of the financial statements of The APTE Ltd ('the charity') for the year ended 28th February 2024.
Responslblltles and basis ol ntpOlt
As the trusteesofthecompany (andalso its directorsfor the purposes ofcompany law) youare responsible for the preparation of the financial statements In accordance with the requirements of the Companies 2006 ('the 2006 Act').
Having satisfied myselfthat the accounts of the company are not required to be audited under Part 16 ofthe2006 Act andareeligiblefor independentexamination, IreportinrespeCt of my examination of the charity's accounts as carried out under section 145 of.theCharities Act 2011('the 2011 Act'). In carrying out my examination Ihave followed the Directions given by the Charity Commissoin under sectior1145(5)(b) of the 2011
Independent examiner's statement
Ihave competedl my:examination.Iconfirmthat nomatters havecome to my attentionin connection with the examinationgiving me causeto believe:
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accounting records werenot kept in respect of the dlarity as required by section 386 of the 2006Act: or
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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 ·
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thefinancialstatementshavenotbeenpreparedinaccordancewiththemethodsand principlesof the Statementof RecommendedPracticefor accountingandreporting by charities applicable to charities preparing their accountsinaccordance with the Financial Reporting Standard applicable in the UK and Republic ofIreland (FRS 102).
Ihavenoconcernsandhavecomeacrossnoother matters Inconnection with theexaminationto which attentionshoudl be drawn in this report in order to enable a proper understanding of the accounts to bereached.
Independent Examiner
The Accountant LTD 132 Broughton St Cheetham Hill Manchester M8 8AN
26[th] July 2025
Year ended 28 February 2024
Apte Ltd ICompany Limtedi by Guarantee Sta1ement of FinancialActivities
| 2023 |
2023 |
2023 |
2024 | ||
|---|---|---|---|---|---|
| Unrestricted | |||||
| funds | Totalfunds | Totalfunds | |||
| Note | £ | £ | £ | ||
| nI come and endowments | |||||
| Donations and legacies 4 | 500,000 500 | 500,000 500 | 500,000 500,000 | ,000300,000 | |
| TotalIncome | 500,000 500 | 500,000 500 | 500,000 500,000 | 300,000 | |
| Expenditure | |||||
| Expenditureoncharitableactivities 5,6 | (490,000) | (490,000)(490,000) | (490,000)(290,000) | ||
| Net expenditure and net movementin fund | 10,000 | 10,000 | 10,000 | ||
| Reconciliatlonof funds | |||||
| Totalfundsbroughtforward. | (28,638) (28 | ,638) (28 | ,638) (28,638) (18,638) | ,638) (18,638) | |
| Totalfundscarriedforward | (18,638) | (18,638)(18,638) | (18,638)(8,638) |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditura derive from continuing activities.
Apte Ltd ICompany Limited by Guarantee
Notes to the Financial Statements IYear ended 28 February 2024
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 2024
3. Accounting policy
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:
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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.
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legacyincomeis recognised when receipt is probable and entitlement is established.
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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.
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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.
Resources 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:
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expenditure on raising . funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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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.
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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.
Flnanclal instruments
Afinancial asset or a financialliabilityis recognised only when the charily becomes a party to the contractual provisions of theinstrumei'lt.
Basic financial instruments are initially recognised at the amount receivable or payable including any
Apte Ltd ICompany Limited by Guarantee Notes to the Financial Statements (continued) Year ended
28 February 2024
3. Accounting pollcles (conllnued)
FlnanclalInstruments (conllnued)
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to bepaidorreceived andnotdiscounted.
Debt instruments aresubsequently measured at amortised cost
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the nvestmenti is subsequently measured at fair value with changes ni fari value recognisedni income and expenditure.Allother such invesbnents are subsequently measured at cost less impairment Other financialinstruments, including derivatives, are initially recognised at fair value, unessl payment for an asset si 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 dscoi unted at a market rate of interest for a simlari debt instrument.
Other financial nstri uments me subsequentfy measured at fair vaue,l with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedgngi relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of mi pairment at the end of each reporting date. If there is objective evidence ofmi pairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which theinitial gainwas recognsei d. For all equity nstrumentsi regardless of significance, and other financial assets that are individua l y significant, these are assessed nidividually for mi pariment. Other financial assets are either assessed individua l y or grouped onthe basis of similarcredit risk characteristics.
/Vry reversasl ofmi parmi ent are recognsedi 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 hadthe impairment not previously been recognised. ·
- Donations and legacies
Unresbicted TotalFunds Unrestricted TotalFunds Funds 2023 Funds 2024 £ £ £ £ Donations 500,000 500,000 300,000 300,000
I Apte Ltd Company Limited by Guarantee
Notes to the Financial Statements (conllnued), Year ended 28 February 2024
5. Expenditureon charitable activities by fund type
| type Unrestricted |
type Total Funds |
type Total Funds |
Unrestricted |
Unrestricted |
Total Funds |
|
|---|---|---|---|---|---|---|
| 2023 Funds | Funds | Funds | Funds | Funds Funds 2024 |
2024 | |
| £ | £ | £ | £ | |||
| Charitable grants. | 486,500 | 486,500 | 295,000 | 295,000 | ||
| Supportcosts. | 3,500 | 3,500 | 3,5003,500 | 5,000 | 5,000 5,000 |
|
| 490,000 490,000 | 490,000 490,000300, | 300,000 |
8. Expenditure on charttabla activ i ata by activity type
| 8.Expenditure on charttabla activ | Expenditure on charttabla activiata by activity a by activityby activityactivitytype | type | |||
|---|---|---|---|---|---|
| Grant funding | Grant funding Support |
Total funds | Totalfund | ||
| ofactivities | activitiescosts | 2023 2024 | 2023 2024 | ||
| £ | £ | £ | £ | ||
| Charitable grants Support costs Governancecosts |
486,500 2,500 2,500 |
486,500 2,500 2,500 1,000 |
486,500 | 486,500 1,000 |
486,500 295,000 5000 |
| 490,000 | 3,500 | 426.019 300,000 | 426.019 300,000 | ||
| Analysisofsupport costs | |||||
| Analysis of | |||||
| support costs | support costs | support costsTotal2023 | 2023 Total 2024 |
||
| £ | £ | £ | |||
| Generaloffice | |||||
| Bank Charges | 2,500 | 2,500 | |||
| .Accountancy and bookkeeping | .Accountancy and bookkeepingfees | 1,000 | 1,000 | 5,000 | |
| 3,500 | 3,500 |
5,000 |