Finegrant Limited Company limited by guarantee Annual Report and Financial Statements For year ended 31 March 2024 Charity Registration Number 1134930 Company Number 07116575 Rothfeld & Co Accountants 149A Stamford Hill LondonN16 5LL Tel 020 8802 0190 Fax 020 8802 0191
FINEGRANT LIMITED Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Page 1 Contents Pa Charity Infomiation Report of the DirectorsrrNstees Independent Eqmine<S Report Statement of Financial Activities Statement of financial position Notes forniing part of the financial statements 9-10 Detailed profit and loss account and Statement of financial activities 11
FINEGRANT LIMrrED Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Page 2 Charity Knformation Board of Trustees A Frankel - Directorrrrustee M Frankel - Directorfrrustee J Stern - Directorrrrustee Registered Office 42 Darenth Road London N16 6EJ Charity Number 1134930 Company Registration Number 07116575 (England and Wales) Accountants Rothfeld & Co Medcar House 149A Stamford Hill London, Nl 6 5LL Bankers Barclays Bank PLC 3-5 Kingsland High Street London E8 2JT
FINEGRANT LIMITED Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Page 3 Report of the Direetorsftrustees The Dir¢¢tors/Trustees have ple&sure in presenting their Report and Financial Statements of the Companylcharity for the year ended 31 March 2024 The Directorsrrrustees have adopted the provisions of the Charities SORP (FRS 102) 2019 in preparing the annual report and fmancial statements of the Charity. Th¢ Trustees in office throughout the year were Mr. A Frank¢l, Mrs M Frankel and Mr J Stern. All trustees give of their time freely and no tntee remuneration was paid in the year. Reference and Administrntion Reference and Administration details are shown in the schedule of members of the board and professional advisers on page 2 of the financial statements. Strnetllrey governance and management Finegrant Limited is a company limitd by guarante¢ incorporated on 5 January 201 O and is governed by its memorandum and articlcs of ass(Kiation. The Directorstrrustees are responsible for the governance of the organisation and are active in all operational &sp¢cts of strategic manag¢m¢nt. Major policy decisions are dccided at full directors'/ Trust¢¢s' mectings. Principal Activity The principal activity of the Company during the year was that of giving grants to charitable institutions. Charitable Objects are: The advancement of the Orthodox Jewish Faith b. Tha advancement of Orthodox Jewish religious cducation. c. The relief of povety, the aged, sickness and infimiity. d. For other such PUTpose8 as are for the benefit of the public and are charitable according to English law.
FINEGRAKf LIMITED Company limrted by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Page 4 Report of the DirectOTsrtrustees (eontinued) Achievements The Charity received gifts and donations in the year for its operations - £65,630 { 2023 - £116,320) During the year, the Company gave £135,740 (2023- £248,990) in grants. The Company receives applications for ants, which are considered by the board. The Charitable donations made went to further the goals and objectives of the Charity. Donations went to organisations and institutions involved in orthodox Jewish religious education, social welfare etc Grants are only made upon a unanimous decision by th¢ board. Th¢ results and financial position are shown in the accounts. The Charitys income is sufficient to fund its obligations. Charity reserves of £82.907 (2023 - £154.322) represent net current assets. The Trustees have identified the major risks the charitable company is exposed to and systems have been established to mitigatc these risks. Public benefit In setting our objectives and planning our activities the Trustees have given careful considerntion to the Charity Commission's general guidance on public b¢D¢fit and in particular to its supplementary public benefit guidance on fce-charging. This report has been prepared taking advantage of th¢ special exemptions applicable to small Companies under Part 15 of the Companies Act 2006. . Continued
FINEGRAr LIMITED Company limrted by guarantee FINANCIAL STATEMENTS FOR YBqR ENDED 31 MARCH 2024 Page 5 Report of the Directorslfrustees (continued) The recipients of our services continuously express their applation and admiration to all memb¢rs of the public that assist us in delivering vital services. Investment policy and returns Under the memorandum and articles of association, the charity has the power to make any investment which the trustees see fit. Reserves Policy The trustees retain reserves as necessary and where appropriate, consolidate funds in order to enable the charity to meet future ne¢ds or to mak¢ more substantial ants which they feel to be appropriate. Responsibilities of the DirectorslTrustees Company Law requires the directors to prepare fmancial statements for each financial ycar which give a true and fair view of the state of affairs of the charity as at the Balance sheet date, and of its incoming resources. including income and expenditure for the financial year. In preparing those financial statements, the Directorsrrrustees should follow best prdcticc and Select suitable accounting policies and apply them consistently. b. Make judgments and estimat¢s that are rcasonable and prudent. Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the financial statements. d. Prepare the financial statements on the going concern basis unless it is inappn)priate to assume that the charity will continue in operation. The DirectorslTrustecs are responsible for maintaining proper accounting records which disclose with reasonabl¢ accurncy at any time the financial position of the charity and to enable them as DirectorsrUsteeS to ¢nsur¢ that the fllwicial statements comply with the Company Law. The Directorstrrustees are also responsible for safeguarding the charitys assets and hence for taking reasonablc steps for the prevention and dctection of fraud and other regulariti¢s. Approved by The DiTtOrs[rrUsteeS on 12 December 2024 Trustee/Director
FINEGRANT LIMITED Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Page 6 Independent Examioer's Report to the Trustees l Directors We report on the financial stst¢ments of Finegrant Limited for the year ended 31 March 2024. Respective Responsibilities of Trustees and Exaniiner The charity's trustees are responsible for th¢ prepaTation of the accounts. The charity's trustees consider that an audit is not required for this year under sextion 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities ACL to follow the procedures laid down in the general Directions given by the Charity Commission {under section 145(5)(b) of the Charities ACL and to state whether particular matters have come to my attention Basis of Independent Examiner's Report My examination was carried out in accordance with general Dircctions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trust Concerning any such matters. The procedures undertakcn do not provide all the evidence that would be required in an audiL and consequently no opinion is given as to whether the accounts present a 'tru¢ and fair, vicw and the report is limited to those matters set out in the statement below. In connection with my exarnination. no matter has come to my attention. l. which gives me re&sonable cause to believc that in. any material TcspecL the requtrements: to keep accounting. records in accordance with section 130 of the Charities Act. and to prepare accounts which accord with the accounting records and comply with the accounting rquiranents of the Charities Act have not been met. or 2. to which, in my opinion. attention should be drawn in order to enable a prop¢r und¢rstanding of the accounts to be reached. Myer Rothfeld Accountant 149A Stamford Hill London N16 5LL Dat¢ 1211212024
FINEGRAKf LIMITED Company limrted by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Page 7 Statement of Financial Activities Income and expenditure account For the Year ended 31 March 2024 Unrestricted 2024 Unrestricted 2023 Notes INCOMING RESOURCES Income 65,630 116,530 65,630 116,530 OUTGOING RESOI]RCES Charitable expenditure Grants mad¢ Administration (135,740) (IJ05) (248,990) (1,307) (137,045) (250.297) Net surplusl(deficit) funds for year (71,415) (133,767) Funds brought fornard 154.322 288.089 Funds carried forward 82.907 154,322 There were no other recognised gains or losses
FINEGRAKf LIMITED Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Page 8 Statement of finaneial position At 31 March 2024 Unrestricted Unrestrirted Notes 2024 2024 2023 2023 Current Assets Cash at Bank Debtors 84,957 155,935 84,957 155,935 Creditors Amounts due within on¢ year (2,050) (1,613) Net Assets 82,907 154,322 Accumulated Funds Restricted Unrestricted 82,907 82.907 154,322 154,322 In approving these financial statements as directors of the company we hereby confirni: that for th¢ y¢ar stated abov¢ the company was entitled to the exemption conferred by Section 477 of the Companies Act 2006 . b. that no notice has been deposited at the registered office of th¢ wmpany pursuant to Section 476 rquesting that an audit be conducted for the year ended 31 March 2024" and that we acknowledge our resw)nsibilities for: ensuring that the Company k¢cps accounting records which comply with Section 386 ' and 2. preparing financial statements which give a trne and faÉr vicw of the state of affairs of the company as at th¢ ¢nd of the financial year and of its profit or loss for the year then ended in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the provisions of the Companics Act relating to fjnancial statements, so far as applicable to the company. These financial stat¢mcnts have b¢en prepared in accordance with th¢ provisions applicable to companies subject to the small companies, regime. Approv¢d by the board on 12 December 2024 and signed on behalf of their behalf by: A Frankel - DirectorfTrustee The notes on pages 9 and l O forni part of the balance sheet
FINEGRANT LIMrrED Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Page 9 Iyotes To The Accounts l) Principal Accounting Policies Basis ofAccountin The Accounts have been prepared under the historical cost convention in accordance with the statement of Recommended Practice: Accounting and reporting by CharitRes preparing their accounts in accordance with FRS 102 (2019) and the Financial reporting standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Incoming resources Incoming resources ar¢ accounted for upon receipL eXCt where it is proper to accrue. 2) Taxation The Charitable Company is exempt froni taxation on its charitable activities. The Company is registed with HM Revenue & Customs as a Charttable Company. 3) Ineome The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK. 2024 2023 Income Grants and donations received UK loan Intcr¢st Gift aid received 65.120 510 116,320 210 65,630 116,530 4) Grants 2024 List of recipients who received £10,000 or more: To Institulions.. Call All Keren Chochmos Shlomeh Trust Chasdeo Sholom Atime CML Chasdel Sorele Chareidim Bels Shaymesh Shir Chesed Chasdel Yisochor Dov Asos Chesed EDU Poor Tchabe Kolel Others - £1 0,000 & below 2023 (10,000) (10,000) (15.000) (i 0,000) (11,860) (10,000) (15,000) (20,000) (15,000) (10,000) (i 0,000) (10.000) (103,880) (135.740) (133,990) (248,990)
FINEGRAr LIMITED Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Page 10 Notes To The Accounts {contiDued) 5) Administration 2024 2023 Accountancy fees Independent examination Sundry expenses (700) (450) (155) (700) (450) (155) (1,305) (1,305) 6) Creditors Sundry accruals Sundry cr¢ditors (2,050) (1,150) (463) (1,613) (2,050) 7) Related Party TrnnsacÉions The Company is controlled by Mr & Mrs Frankel At the balance shcct date, there were no balance due to or from them.
FINEGRAKf LIMITED Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Page11 Detailed trading & profit and loss account and expenses schedule for the year ended 31 March 2024 2024 2023 Unrestricted funds Unrestricted funds Incoming resources Gifts and donations receivable Bank interest income Other interest receivable 65,120 510 116,320 210 65,630 116,530 Outgoing resources Grantsldotvdtions paid out (135,740) (248,990) (70.110) (132,460) Administrative expenses Independent examination Accountancy Sundry (450) (700) (155) (450) (700) (157) (1,305) (1,307) Exc¢ss/(deficit) funds for the year (71,415) (133,767)