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2023-03-31-accounts

GREENLINE FOUNDATION LIMITED

(Limited by guarantee)

Financial Statements

For the Year ended 31 March 2023

Company Number 07131757 (England and Wales) Charity number 1135758

Whiteside and Davies Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE

GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE

Page 2

COMPANY NUMBER 07131757

CHARITY NUMBER 1135758 FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2023

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 2023

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

Whiteside & Davies Accountants 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 2023

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 2023.

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 £119,175 was distributed (2022: £188,230) in accordance to the charity objects.

The charity had a net surplus of £39,710 (2022: deficit of (£3,271)) 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 2023

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 2023

Report of the Directors/Trustees (continued)

Financial statements

In preparing those financial statements, the Directors/Trustees should follow best practice and

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 31 May 2024

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 2023

Independent Examiner's Report to the Trustees

I report on the financial statements of Greenline Foundation Ltd for the year ended 31 March 2023.

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:

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;

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

David Pollak Whiteside & Davies Accountants 158 Cromwell Road Salford M6 6DE

Date: 31 May 2024

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GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757 CHARITY NUMBER 1135758

FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2023

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
10
11
12		 2023
£
152,100
(119,175)
32,925
(1,215)
31,710
(241,549)
(209,839)		 2022
£
186,000
(188,230)
(2,230)
(1,241)
(3,471)
(238,078)
(241,549)

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COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757

GREENLINE FOUNDATION LTD

CHARITY NUMBER 1135758

FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2023

Balance Sheet

At 31 March 2023

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
7
8
9		 2023
£
57,561
(1,400)
56,161
(266,000)
(209,839)
(209,839)		 2022
£
25,651
(1,200)
24,451
(266,000)
(241,549)
(241,549)

In approving these financial statements as directors of the company we hereby confirm:

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

31 May 2024

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GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757 CHARITY NUMBER 1135758

FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2023

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.

6. Going concern

There was a net deficiency of assets of £209,839 at the balance sheet date, however all the long term creditors are either the directors or associated companies who have agreed to defer repayments until the charity is in a comfortable position to do so, and have guaranteed continued support for the charity for the foreseeable future.

Page 11

GREENLINE FOUNDATION LTD

COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757 CHARITY NUMBER 1135758

FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2023

Notes to the Accounts (continued)

2023
£
7.
CreditorsAmounts due within one year
Accrued expenses
1,400
1,400
8.
Creditors:Amounts falling due
after more than one year
Directors loan account and associated companies
266,000
Total
Charitable funds
£
9.
Unrestricted funds
(241,549)
Net deficit for the year
31,710
(209,839)
At 01 April 2022
At 31 March 2023		 2022
£
1,200
1,000
266,000

Page 12

GREENLINE FOUNDATION LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 07131757

CHARITY NUMBER 1135758

FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2023

Notes to the Accounts (continued)

10. Incoming Resources
Donations Received
11. Resources Expended
Charitable Activities
Cost of Activities In Furtherance
of the Charity's Objects
Grants and donations paid
to UK registered charities
12. Governance Costs
Accountancy/ Independent Examiner fees
Bank charges and interest repaid (paid)
Total Funds Expended
Accumulated Funds
Net expenditure (income) for the year
Balance brought forward
Balance carried forward		 2023
2023
Total
Total
£
152,100
(119,175)
(1,200)
(15)
(1,215)
(120,390)
31,710
(241,549)
(209,839)		 2022
2022
Total
Total
£
186,000
(188,230)
(1,200)
(41)
(1,241)
(189,471)
(3,471)
(238,078)
(241,549)