GREENLINE FOUNDATION LIMITED
(Limited by guarantee)
Financial Statements
For the Year ended 31 March 2020
Company Number 07131757 (England and Wales) Charity number 1135758
ACCOUNTS & BUSINESS SOLUTIONS LIMITED
158 Cromwell Road Salford, M6 6DE
GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE
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COMPANY NUMBER 07131757 CHARITY NUMBER 1135758 FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2020
Contents
| Page | |
|---|---|
| Charity Information | 3 |
| Report of the Directors/Trustees | 4 - 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes forming part of the financial statements | 10 - 12 |
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GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757 CHARITY NUMBER 1135758 FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2020
Charity Information
Board of Trustees
Mr D Breisch Mrs R Breisch
Directors
Mr D Breisch Mrs R Breisch
Registered address
158 Cromwell Road Salford M6 6DE
Charity Number
1135758
Company Registration Number
07131757 (England and Wales)
Accountants and Independent examiner
Accounts & Business Solutions Limited 158 Cromwell Road Salford M6 6DE
Bankers
Natwest Bank 198 Stoke Newington High Street London N16 7JD
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GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757 CHARITY NUMBER 1135758 FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2020
Report of the Directors/Trustees
The Directors/Trustees have pleasure in presenting their Report and Financial Statements of the Company/Charity for the year ended 31 March 2020.
The financial statements have been prepared in accordance with the accounting policies set out in the accounts and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102)" .
Trustees and Governors
The Trustees in office throughout the year were Mr D Breisch and Mrs R Breisch. Both are also directors for the purposes of company law.
All trustees give of their time freely and no trustee remuneration was paid in the year.
Reference and Administration
Reference and Administration details are shown in the schedule of members of the board and professional advisers on page 2 of the financial statements.
Structure, governance and management
Greenline Foundation Ltd is a charity constituted as a company limited by guarantee and as such, is governed by its memorandum and articles of association.
The Directors/Trustees are responsible for the governance of the organisation and are active in all operational aspects of strategic management. Major policy decisions are decided at full directors'/ trustees' meetings.
Charitable Objects
The charity/company is established for the purpose of:
The advancement and furtherance of the Jewish religion and Jewish religious education and the alleviation of poverty among the Jewish community throughout the world.
Other charitable activities that the trustees may from time to time determine.
Achievements
During the year, the charity received all of its income from voluntary donations received.
All grants made by the Charity were to other registered UK charities in accordance with the charity's objects totalling £266,000 was distributed (2019: £125,410) in accordance to the charity objects.
The charity had a net deficit £114,115 of (2019: surplus of £56,877) which was funded mainly by reserves in current assets.
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GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757 CHARITY NUMBER 1135758 FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2020
Report of the Directors/Trustees (continued)
The trustees plan to continue making similar grants and to ensure that an appropriate level of reserves is maintained.
In setting objectives and reviewing the Charity's aims and plans, the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit.
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 investments and finance of the Charity. The Trustees are satisfied that these systems and procedures mitigate any perceived risks.
Going Concern
The accounts have been prepared on a going concern basis as the directors have been assured of the continuing support from the company/charity's creditors.
Concern has been raised by the independent examiner and accountants as to the level of creditors, net liabilities (shown on the balance sheet), and of the continuation of the charity / company in the long run. The trustees have ensured that the long-term creditors shown in the financial statement as “Creditors: Amounts falling due after more than one year” are the directors / trustees loan account or associated companies which are wholly controlled by the directors / trustees.
The trustees are confidant that these loans are indeed long term and the creditors are committed to not take any action for the recovery of these loans if the continued operation of the charity / company is compromised.
Reserves Policy
The trustees retain reserves of £5,000 and where appropriate, consolidate funds in order to enable the charity to meet future needs or to make more substantial grants which they feel to be appropriate.
Responsibilities of the Directors/Trustees
Company Law requires the directors to prepare financial statements for each financial year 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.
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GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757 CHARITY NUMBER 1135758 FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2020
Report of the Directors/Trustees (continued)
Financial statements
In preparing those financial statements, the Directors/Trustees should follow best practice and
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a. Select suitable accounting policies and apply them consistently.
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b. Make judgments and estimates that are reasonable and prudent.
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c. Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the financial statements.
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d. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The Directors/Trustees are responsible for maintaining proper accounting records which
disclose with reasonable accuracy at any time the financial position of the charity and to enable
them as Directors/Trustees to ensure that the financial statements comply with the Company Law.
The Directors/Trustees are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.
Approved by The Directors/Trustees on 28 June 2021
David Breisch - Director and Trustee
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GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757 CHARITY NUMBER 1135758 FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2020
Independent Examiner's Report to the Trustees
I report on the financial statements of Greenline Foundation Ltd for the year ended 31 March 2020.
Respective Responsibilities of Governors and Examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, 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 Directions 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
In connection with my examination, no matter has come to my attention;
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
David Pollak Accounts & Business Solutions Limited 158 Cromwell Road Salford M6 6DE
Date: 19 July 2021
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GREENLINE FOUNDATION LTD
COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757 CHARITY NUMBER 1135758
FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2020
Statement of Financial Activities
| Incoming Resources Expenditure Charitable Activities Gross Income Governance costs Net expenditure (income) for the year Fund balances at brought forward Fund balances carried forward |
Notes 9 10 11 |
2020 £ 31,000 (144,219) (113,219) (896) (114,115) (122,755) (236,870) |
2019 £ 183,368 (125,410) |
|---|---|---|---|
| 57,958 (1,080) 56,878 |
|||
| (179,633) | |||
| (122,755) |
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GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757 CHARITY NUMBER 1135758
FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2020
Balance Sheet
At 31 March 2020
| BalaAbbreviated Balance Sheet | |||
|---|---|---|---|
| Current Assets Cash at Bank Creditors Amounts due within one year Net current assets Creditors:Amounts falling due after more than one year Net Assets Accumulated Funds Unrestricted funds |
Notes 6 7 8 |
2020 £ 30,130 (1,000) 29,130 (266,000) (236,870) (236,870) |
2019 £ 144,245 (1,000) |
| 143,245 (266,000) |
|||
| (122,755) | |||
| (122,755) |
In approving these financial statements as directors of the company we hereby confirm:
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a. that for the year stated above the company was entitled to the exemption conferred by Section 477 of the Companies Act 2006 ;
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b. that no notice has been deposited at the registered office of the company pursuant to Section 476 requesting that an audit be conducted for the year ended 31 March 2020; and
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c. that we acknowledge our responsibilities for:
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ensuring that the company keeps accounting records which comply with Section 386 ; and
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preparing financial statements which give a true and fair view of the state of affairs of the company as at the end 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 Companies Act relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the board and signed on behalf of them all.
David Breisch - Director and Trustee
The notes on the attached pages form part of the accounts
28 June 2021
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GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757 CHARITY NUMBER 1135758 FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2020
Notes to the Accounts
1. Principal Accounting Policies
Basis of Accounting
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and ROI (FRS 102)" .
The Charity is a Public Benefit Entity as defined by FRS 102
Cash Flow
The accounts do not include a cash flow statement because the charity as a small reporting entity is exempt from the requirement to prepare such a statement.
Donations and Fund Accounting
Donations and Grants received for the general and main purposes of the Charity are included as unrestricted funds in the Statement of Financial Activities when receivable.
Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees.
Resources Expended
Resources expended are accounted for on an accruals basis.
Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
The irrecoverable element of VAT is included with the item of expense to which it relates.
2. Taxation
The Charitable Company is exempt from taxation on its charitable activities.
3. Incoming Resources
The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK.
4. Company 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 £1.
5. Control
The company is incorporated for charitable purposes and has no controlling party.
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GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE
COMPANY NUMBER 07131757 CHARITY NUMBER 1135758
FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2020
Notes to the Accounts (continued)
| 2020 £ 6. CreditorsAmounts due within one year Accrued expenses 1,000 Other creditors 0 1,000 7. Creditors:Amounts falling due after more than one year Directors loan account and associated companies 266,000 Total Charitable funds £ 8. Unrestricted funds (122,755) Net income for the year (114,115) (236,870) At 01 April 2019 At 31 March 2020 |
2019 £ 1,000 0 |
|---|---|
| 1,000 | |
| 266,000 | |
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GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757 CHARITY NUMBER 1135758
FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2020
Notes to the Accounts (continued)
| 9. Incoming Resources Donations Received 10. Resources Expended Charitable Activities Cost of Activities In Furtherance of the Charity's Objects Grants and donations paid to UK registered charities 11. Governance Costs Accountancy/ Independent Examiner fees Other legal and professional fees Bank charges and interest repaid (paid) Total Funds Expended Accumulated Funds Net expenditure (income) for the year Balance brought forward Balance carried forward |
2020 2020 Total Total £ 31,000 (144,219) (1,000) 0 104 (896) (145,115) (114,115) (122,755) (236,870) |
2019 2019 Total Total £ 183,368 (125,410) (1,000) 0 (80) (1,080) (126,490) 56,878 (179,633) (122,755) |
2019 2019 Total Total £ 183,368 (125,410) (1,000) 0 (80) (1,080) (126,490) 56,878 (179,633) (122,755) |
|---|---|---|---|
| 56,878 (179,633) |
|||
| (122,755) |