Company Yo: 06972996 Charity. No: 1136822 MECHINAH GOLDERS GREEN LIMITED A COMPANY LIMITED BY GUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 MECHINAH GOLDERS GREEN LIMITED A COMPANY LIMITED B Y GUARANTEE REPORT AND FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 Index Company inforniation Report of the directors Independent examiner's T¢POrt Statement of financial activities Balance sheet Notes lo the financial statements MECHtNAH GOLDERS GREEN LJMITED A COMPANY LIMITED BY GUARANTEE COMPANY INFORMA TION COMPANY NUMBER 06972996 CHARITY NUMBER 1136822 DIRECTORs￿RuSTEEs Mr S.J. Chonlow Mr N.(1. (iutmann Mr S. D. Hirsch Mr A. Nae REGISTERED OFFICE 75 Muygrove Road Wcsi Hampstead London NW6 2EG CHARITY ADDRESS 239 West Hendon Broadway London NW9 7DH INDEPENDENT EXAMINER Stephen Goodwin Goldwins Limilcd 75 Maygrove Road London NW6 2EG MECHINAH GOLDERS GREEN LIMITED A COMPANY LIMITED BY GUARANTEE REPORT OF THE DIRECTORS The directors present their report and financial stalemenls for th¢ year ended 31 July 2023. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Siatemenl of Recommended Practice appliLJble to charities preparing their accounts in accordance with the Financial Rcporting Standard applicable in the UK and Republic ol. Ireland (FRSI 02- etyeclive l January 2015- (Charities SORP FRS 102) and the Companies Act 2006. PRINCIPAL ACTJVITY The principal activity of th¢ company was lo provide funds for a school throughout the year. GOVERNING DOCUMENT Memorandum and articles of association incorporated 27 July 2009 ab amended by special resolution 5 May 2011. CHAIUTABLE OBJECTS The adi'ancement of Jewish religious education and education generally, in particular by the provision of grants and facilities not reqiiired lo be prol'ided by the local education auihi)rity. lo J¢wi%h school8 in London. RISK MANAGEMENT The tnjstees have assessed the major risks to whicli the charity is exposed. In particular, they have reviewed the bank overdrall arrangements and the ability ot. Ihe charity to meet its future commilments. The trustees are salisfied that syslems are in place to mitigate such risks. REVIEW The Charity exists to advance education, in particular. for ihe Bels Medrash Elyon school, a senior school for boys aged I1_15. PUBLIC BENEFIT The principal aclti'ities of the charity during the year conlinued to provide primary education for orthodc)x Jewish boys, within Ihc London orthodox Jewish community. The INslees are aware ot. the Charity Commission Lyuidance on public benefit reporting as set out in Section 17 Charities Act 2011. The trustees believe that the charity achieves a public ben¢fit by providing these services as detailed elsewhere in this report. MECHINAH GOLDERS GREEN LIMITED A COMPANY LIMITED BY GUARANTEE REPORT OF THE DIRECTORS DIRECTORS AND THEIR INTERESTS The directors who have served during the ycar werc as follows'.- Mr S J Chontow- appointcd on 27 October 2011 Mr N G Gutmann- appointed on 15 December 2015 Mr Stephen David Hirsch Adler- appointed on 19 June 2023 Mr Avrohom Yodaiken - appointed on 19 Junc 2023 and resigned on 24 March 2025 Mr Avraham Nae- appointed on 19 June 2023 Each director has a limited liability of £ l. RESERVES POLICY Mechinah CJolder.g Green s reservcs policy is to create sufticient reserves li) enable Ihe charity to continue its acrivities and seryices at a meaningful lel'el, should there be a drop in income. As all income is derived from voluntary donation5, the trustees review ihis position on a regular basis. DIRECTORS, RESPONSIBILITIES The truslees are responsible for Ihc maintenance and integrity of the corporate and financial inforn]ation included on Ihe charitable company's wcbsilc. Lcgislation in thc United Kingdom governin8 the preparation and dissemination of financial statements may difter Irom legislation in oiher jurisdictions. Company law requires the directors, who serve as truslees for the purposes of charity law, to prepdre accounis for each financidl year which gFive a true and fair view of the state (Trf aftairs of ihe company dnd uf the pri)lit or loss ot. thc company tor that ycar. In preparing those accounts, the directors are required io'.- selecl %uitable accounting pulicies and then apply them consistently. make judgements and estimates that are reasonable and pNdeni: state wheiher applicable UK Accounting Standards have been followed, subject to any material departure5 disclosed and explained in the financial statements, and prepare the Accounts on a ¥c)ing conccm basis unlcss il is inappropriatc to prcgume that the company will continue in business. The dircclors are responsible for keeping proper accounting rccord% which disclosc with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the accounts comply with the Compai)ies Act 2006. They are also responsible for safegTuarding the asqei.q of the company and hcnce for taking reasonable steps tor thc prevention and detection ot. Iraud and other irregulariiies. The Directors. Report is prepared in accordance with the special provibions of Part 15 of the Companies Act 2006 relaling to small companies. Signed on behalf of the board of direclors on . Mr S J Chontow Director INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MECHINAH GOLDERS GREEN LIMITED FOR THE YEAR ENDED I JULY 2023 I report to the charity Iruslees on my examination ot. the accounls of the Company for the year ended 31 July 2023. Respon$lblllties and basls of report As Ihe charity's trustees of the Company (and also its direclors for the purposes of company law) you arc responsible for Ihc preparation of Ihc accounts in accordance with the requirements of the Companies Act 2006 ('Ihe 21M)6 Act.). Having salisfied n]yself that the 4iccounls of the Compuny are not required to be audited under Part 16 of thc 2006 Act and are eligible for indL'pendcnl examination, I rcport in respect of my exaniination of your charity's accounts as carried out under section 145 of the Charilies Act 2011 {'Ihe 201 l Act,). In canyingF Out my examination I have followed the Directions given by the Charity Commission under section 145(5) Ib) ol'the 2011 Act. Independent examiner's stxtement- a matter of concern identified I have completed my examination and I have identified a matter of concern in my report. I have concerns that the incomc and expenditure related to ihe inveslnienl property h￿1ve not been reflected in thc charity accounts and arc instead shown in thc accounts of Wcsl Hendon Estates Limited which holds the propety as a bare trustee. I confinn thai no other matters have comc to my attention giving mc catssc to believe that in any material respect.. . accounling records were not kepl in respect of the Company 8s required by section 386 ol'the 2006 Act; or 2. the accounts do not accurd w'ith those records,. or 3. the accounts do nol comply with th¢ accuunting r¢quircincnts of section 396 of Ihc 2006 Act other than any requirement that the accounts give a 'irue and fair view which is nol a matier eonsidered as part of an independent examination,. or .th¢ accounts hav¢ nol been prepared in accordance with the methods and principles of Ihe Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in a¢cnrdancc with thc Financial Rcporting Stsndard applicable in the UK and Republic ot. Ireland (F-RS 102). I confirni that there are no other matters to which your attention should be drawn lo enable a proper unde landing of the accounts to be reached. Stephen Goodwin MA FCA CTA Goldwins Limlted Ch8rtered accountants 75 Mavgroi'e Road We51 Hampstead London NW6 2EG 11 July 2025 MECHINAH GOLDERS GREEN LIMITED A COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES includRn Income and Ex enditure Account FOR THE YEAR ENDED 31 JUL Y 2023 Tolal Funds 2023 Total Funds 2022 Unrestricted Funds Notes Income from: Donations Investment income 223.218 223,218 305,853 98 98 Total Income 223,316 223,316 305,860 Expendlturt on: Raising fLmds 900 900 6.035 Charitable activities 215,822 215,822 361,480 Total expenditure 216,722 216,722 367,515 Net incomel (expenditure) for the veAr 6,594 6,594 (61.655) Funds brought fonvard 180,331 180.331 241,986 Funds clrrled fonvArd 186,925 186,925 180.331 All of the above results are derived from continuing activities. There were no other recogwnised g¢iins or losseb other (han those slated above. The attached not¢s forn) part of these financial slatements. MECHINAH GOLDERS GREEN LIMITED A COMPANY LIMITED B Y GUARANTEE BALANCE SHEET AS AT 31 JULY 2023 2023 2022 as restaled Noles FIXED ASSETS Investments 1.980,000 1,980,000 CURREKf ASSETS Cash at bank and in hand 51,287 55,600 CREDITORS.. Amounts falling due within one year (44,362) (55,269) NET CURRENT ASSETS 6.925 331 CREDITORS.. Amounts falling due after one year (1,800.000) (1,800,000) NET ASSETS 186,925 180,331 TOTAL UNRESTRICTED FUNDS 186,925 180,331 For ihe financial year ended 31 July 2023. the Company was entitled to exemptii)n from audit under Section 477 of the Companies Act 200(). and no nolice has been deposited under Section 476. The direclors acknowledge their responsibilities for ensuring that the c.ompany keeps accounting records which comply with Section 386 of the Act and preparing Financial Staiemcnts which give a true and fair view of the stale of affairs of th¢ Company as at ihe end of the year and of its prolit or loss for the Iinancial year in accordance with the requiremeiits of Sections 394 dnd 395 and which othenvise comply wilh thc rcquircmcnts of the Companics Act 2006, so far as applicable io the Company. The Financial Statements have been prepaTed in accordance M'ith the special provisions relating to small companies wilhin Part 15 of the Companies Act 2006. The Financidl Ststemenls were approved by the Board on by: Mr S J Chontow Director Company No: 06972996 The attached notes form part of these accounts. MECHINAH GOLDERS GREEN LIMITED A COMPANY LIMITED B Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 Accounting policies Ba515 of preparatlon The financiiil stalemenls hdve been prepared in accordance with Accounling and Reporting by Charities.. Statement of Reconimcnded Praclice applicable to chariiics preparing their accounts in accordance with the Financial Reporting Standard appllcable in ihe UK and Republic of Irelund (FRS 102 effeclii'¢ l January 2015) - {Chariiies SORP FRS 102) and the Companies Act 2006. The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabililics arc inilially rccogniscd at historical cost or transaction value unless othenvise stated in ihe relevant a¢counttn¥ kN)licy or note. b) Rffonciliation with previously Generllly Accepted Accounting Practice (GAAP) In preparing the accounts. the trustccs have considered whethcr in applying thc accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was required. Going eon¢ern There is a longy_terni loan of £1.8 million due lo West HeJ)don Estaies Limited. The loan is currently unsccurcd and falls duc in 2026. It 1% anticipatcd that planning pennission submitted lor the investment property will be approved. which will increase the i'alue of the property. The trustees have considered ihat tliere are enough donalions received after the year cnd to continuc a% a going concern. The tNslees do not consider that there are any sources Ot estimation uncertainty al the reporting date that have a significant risk of causing a material adjustment to Ihe carrying amounts of assels and liabiliiies within Ihe nexl reporting period. d) Income ncome is recognised when the charity has entitlement to the fund5. any perforniance conditions attached to the incoine have been met. il is probablc that the income will be received and that the amouni Can be measured reliably. Interest recelv*ble Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notificalion of the interest paid or payable by the bank. Fund 4ccounting Unrcstricted funds are available to 8pend on activiti¢s that funher any of Ihe purposes of charity. Designated funds are unrestricted tunds ot the charity which the Iruslees have decided al their discretion to sel aside to use for a specific purpose. Restricted lunds are donations which the donor ha5 specified are to be solely used for particular ar¢as of the charity's work or for specific projccts being undertaken by the charity. MECHINAH GOLDERS GREEN LIMITED A COMPANY LIMITED B Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 Accounting polleies {continued) g) Expendlture Expenditure 15 reco&Fnised once there is a legal or constructive obligation lo make payment to a third party, il is probable that setilement will bc required, and thc amount ot Ihe obligation ¢an be measured reliably. h) Investments Invcstmenl propcrties are includod in the balance shcct at fair valuc and are not deprecidted. Any change in fair value is recu&Fnised in the slatemenl of financial acliviliL'S. The trusiees have rcvicwed ihe valuation i)f the inve.qimLnt property. which has been prepared by a tirni of chartered surveyors based on RCIS valiiation standards. and are happy with the CUTr¢nt valuation. i) Debtors Trade and oiher debtors are recognised at the setilement amount due after any trade discount offered. Prepayments are valucd at the aniounl prepaid net of any trade discounts due. i) Casb at bank and in hand Ca%h di bank and cash in hand includes cash and short-terni highly liquid investments with a short maturity of three monihs or less from the dale of a¢quisilion or opening of the deposit or similar account. Expenditur¢ Unrestricted Funds 2023 Total 2022 Tolal Cost of Raising funds 900 900 6.035 900 900 6.035 Ch*rltable Aetlvltles Donations for educational puryoses 204,555 Bank charges 170 Profesgii)nal Fees Other expenses 204,555 170 272,758 307 71,553 16,862 11,097 11,097 215,822 215,822 361,480 MECHINAH GOLDERS GREEN LIMITED A COMPANY LIMITED B Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 Fixed Assets investments Fixed asset investments represent an ini'eslment property at 233-239 The Broadway, Edgware Road, Hendon NW9 7DH is included in accounls on the basis of valuation undertaken by Fificld Glyn Chartercd Surveyors on 30 January 2025. The property was previously held in tNst by West Hendon Estates Limited and a loan of £858,000 is secured on the property K'hich is reported in the accounts of West Hendon Esiales Limited. The loan will be formally record￿ in the accounls of the harity once th¢ necessary legal procedures hav¢ been complctcd. CREDITORS: Amounts falling due within one year 2023 2022 Credilors 44,362 55.269 44.362 55,269 CREDITORS: Amounts falling due *fter one year 2023 2022 as rcstalcd Other creditors 1,800,000 1,800,000 1,800.000 1,800,000 Other credilors represeiil a loan due to West Hendon Estates Liniiled. Subsequent to Ihc Balance Shccl dalc. th¢ Icnns of Ihc loan were rencgotialed, such that Ihc capital outstanding was reduced tv £700,OQQ repayable in 2Q.I I, wilh the balance of. £ l. I m lo be renegotiated at the repayment dale. The loan is unsecured and is subordinate lo the amounts due to the lender referred to IT) note 9 to the accounts. Emoluments of the trustees Trustees did not rcccive any rcmuncration during Ihc year {2022.. Nil). There were no eniployees in the year (2022.. none). There were no employee benefils payments to key managenienl persunncl in the year12022.. Nil). MECHINAH GOLDERS GREEN LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 Related party trgns4ctions Amounts included in other creditors falling due after one year represent amounts due to Wesl Hei)don Estales Limited. One of tlie trustees Mr N G Gulinann, 15 also a director of West Hendon Estates Limited. (2022.. Nill. PrRor yeydr adjustment Prior year adjustmcnt relates to thc investment property that was previously held in Irusl by West Hendon Estate5 Limited, and d loan due to Wesl Hendon Estates, butli asset and liabtliiy amounts werc mi%%ingF in lasl ycar's account5, and thc prior ycar figures have now been restated. Contingent Liabilities A loan of £858,000 which is secured on Ihe property, and which is CU￿entlY recordcd in th¢ accounts of Wcst Hendon Esiatcs Limilcd, will be formally recorded in the accounts of the charity, once necessary legal procedures have been completed. 10