REGISTERED COMPANY NUMBER: 06972996 (England and Wales) REGISTERED CHARITY NUMBER: 1136822
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
FOR
MECHINAH GOLDERS GREEN LIMITED
Raffingers Holdings Limited Chartered Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
MECHINAH GOLDERS GREEN LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 July 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Cash Flow Statement | 8 | ||
| Notes to the Cash Flow Statement | 9 | ||
| Notes to the Financial Statements | 10 | to | 17 |
MECHINAH GOLDERS GREEN LIMITED (REGISTERED NUMBER: 06972996)
REPORT OF THE TRUSTEES
for the year ended 31 July 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2024. The trustees have adopted the provisions of 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
PRINCIPAL ACTIVITY
The principal activity of the company was to provide funds for a school throughout the year.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are the advancement of Jewish religious education and education generally, in particular by the provision of grants and facilities not required to be provided by the Local Education Authority, to Jewish schools in London.
The charity achieves its objectives by making grants to further education, in particular to Beis Medrash Elyon, a boys' high school in North West London. The charity also provides part of its premises to the school.
Public benefit
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning the charity's future activities.The aims of the charity for the public benefit and the main activities undertaken are detailed within this report.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The charity continued to raise funds in support of its objectives and was able to increase its support to BME NW London to £345,500.
After consultation with legal advisors and the charity commission, premises held on trust for the charity, and a connected loan, were transferred to the charity. Although the actual transfer was made after the year end, the property and the loan as well as the rental income and related expenditure have been recognised in the accounts of the current year.
FINANCIAL REVIEW
Financial position
The financial results for the year to 31 July 2024 are shown in the attached financial statements.
Income from donations increased from £223,218 to £591,823 and expenditure on charitable activities increased from £215,822 to £606,370 in comparison with the previous period.In the year under review, the charity recognised rental income of £63,899 and property expenditure of £65,235.
There was a net decrease in funds of £15,185 (2023: increase of £6,594) with total unrestricted funds carried forward of £335,101 (2023 - £350,286).
RESERVES POLICY
The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary income. Although all grant expenditure is discretionary, the trustees consider that the ideal level of reserves as at 31 July 2024 would be three months of charitable resources expended which equates to approximately £150,000.
The actual free reserves as at 1 August were £3,240. In calculating the reserves, the trustees have excluded from total funds, fixed assets, related loan obligations and any restricted funds. The trustees are actively seeking sources of additional funding in order to reach their target figure.
FUTURE PLANS
The trustees continue to raise much needed funds for the causes they support and look forward to increasing the work they undertake.
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MECHINAH GOLDERS GREEN LIMITED (REGISTERED NUMBER: 06972996)
REPORT OF THE TRUSTEES
for the year ended 31 July 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Memorandum and articles of association incorporated 27 July 2009 as amended by special resolution 5 May 2011.
Recruitment and appointment of new trustees
Trustees may be appointed by the existing trustees at any time, either to fill a casual vacancy or as an addition to the existing trustees. Any trustees so appointed will hold office only until the next Annual General Meeting and will then be eligible for re-election.
No trustee had any beneficial interest in any contract with the charitable entity during the year.
Potential trustees are invited to informally attend trustee meetings prior to appointment and a comprehensive induction programme is available. Additionally individual trustees may undertake external training in a particular area of their role on the Governing Body.
Organisational structure
The board of trustees administers the charity. The board meets regularly.
Induction and training of new trustees
The charitable entity strives to ensure equal opportunities and diversity in the employment of staff and trustee appointments. Selection criteria and procedures are regularly reviewed to ensure that individuals are selected, promoted and treated on the basis of their relevant merits and abilities.
Wider network
At present Mechinah Golders Green Limited does not consider itself part of a wider network.
Risk management
The Trustees regularly undertake a review of the major risks to which the Charity is exposed, and systems designed to mitigate those risks are considered on an ongoing basis.
The Trustees recognise the absolute necessity of ensuring the protection and safety of all those that the charity serves. This means that the trustees, employees of the school and all those who work or volunteer for the school and work with children must obtain clearance from the Disclosure and Barring Service. The school has developed a safeguarding policy and one of the trustees is responsible for ensuring this policy is adhered to. Safeguarding training is compulsory for all staff.
Fundraising
The charity has a good reputation within the local community and has a large pool of regular donors who wish to have a part in the charitable activities of the charity. Existing donors often recommend and encourage other philanthropists to pledge their support to the success of the charity. As such, the trustees do not engage professional fundraisers nor do they undertake public collections or cold calls.
The charity is committed to the principals set out by the Fundraising Regulator in its Code of Fundraising Practice. When donors are approached, this is done with sensitivity and respect and with regard to their circumstances.
The trustees are pleased to report that no complaints were received in the past twelve months in relation to its fundraising activities.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06972996 (England and Wales)
Registered Charity number
1136822
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MECHINAH GOLDERS GREEN LIMITED (REGISTERED NUMBER: 06972996)
REPORT OF THE TRUSTEES
for the year ended 31 July 2024
Registered office
75 Maygrove Road West Hampstead London NW6 2EG
Trustees
Mr S J Chontow Mr N G Gutmann Mr S D Hirsch Mr A Nae Mr A Yodaiken (resigned 24.3.25)
Independent Examiner
Yedidya A Zaiden FCCA Raffingers Holdings Limited Chartered Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
Approved by order of the board of trustees on 11 November 2025 and signed on its behalf by:
Mr S J Chontow - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MECHINAH GOLDERS GREEN LIMITED
Independent examiner's report to the trustees of Mechinah Golders Green Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Yedidya A Zaiden FCCA The Institute of Chartered Accountants in England and Wales
Raffingers Holdings Limited Chartered Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
11 November 2025
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MECHINAH GOLDERS GREEN LIMITED
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 July 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 591,823 Investment income 3 64,597 Total 656,420 EXPENDITURE ON Raising funds 4 65,235 Charitable activities 5 Charitable activities 606,370 Total 671,605 NET INCOME/(EXPENDITURE) (15,185) RECONCILIATION OF FUNDS Total funds brought forward 350,286 TOTAL FUNDS CARRIED FORWARD 335,101 CONTINUING OPERATIONS |
2023 Total funds £ 223,218 98 223,316 900 215,822 216,722 6,594 343,692 350,286 |
|---|---|
All income and expenditure has arisen from continuing activities.
There were no other recognised gains or losses other than those stated above.
The notes form part of these financial statements
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MECHINAH GOLDERS GREEN LIMITED (REGISTERED NUMBER: 06972996)
BALANCE SHEET
31 July 2024
| Notes FIXED ASSETS Investment property 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 13 NET ASSETS FUNDS 15 Unrestricted funds TOTAL FUNDS |
2024 Unrestricted fund £ 1,980,000 825 28,877 29,702 (26,462) 3,240 1,983,240 (1,648,139) 335,101 335,101 335,101 |
2023 Total funds £ 1,980,000 - 51,287 51,287 (22,862) 28,425 2,008,425 (1,658,139) 350,286 350,286 350,286 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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MECHINAH GOLDERS GREEN LIMITED (REGISTERED NUMBER: 06972996)
BALANCE SHEET - continued
31 July 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 11 November 2025 and were signed on its behalf by:
Mr S J Chontow - Trustee
The notes form part of these financial statements
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MECHINAH GOLDERS GREEN LIMITED
CASH FLOW STATEMENT
| for the year ended 31 July 2024 Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash used in operating activities Cash flows from investing activities Interest received Net cash provided by investing activities Cash flows from financing activities New loans in year Loan repayments in year Net cash (used in)/provided by financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2024 £ (12,282) (826) (13,108) 698 698 - (10,000) (10,000) (22,410) 51,287 28,877 |
2023 £ (35,741) (170) (35,911) 98 98 31,500 - 31,500 (4,313) 55,600 51,287 |
|---|---|---|
The notes form part of these financial statements
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MECHINAH GOLDERS GREEN LIMITED
NOTES TO THE CASH FLOW STATEMENT for the year ended 31 July 2024
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Interest received Interest paid Increase in debtors Increase/(decrease) in creditors Net cash used in operations |
2024 £ (15,185) (698) 826 (825) 3,600 (12,282) |
2023 £ 6,594 (98) 170 - (42,407) (35,741) |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET DEBT
| Net cash | At 1.8.23 Cash flow £ £ |
At 31.7.24 £ |
|---|---|---|
| Cash at bank and in hand | 51,287 (22,410) |
28,877 |
| 51,287 (22,410) |
28,877 | |
| Debt | ||
| Debts falling due within 1 year | (10,000) - |
(10,000) |
| Debts falling due after 1 year | (1,658,139) 10,000 |
(1,648,139) |
| (1,668,139) 10,000 |
(1,658,139) | |
| Total | (1,616,852) (12,410) |
(1,629,262) |
The notes form part of these financial statements
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MECHINAH GOLDERS GREEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
Assessment of going concern
The trustees, having made appropriate enquiries, consider that adequate resources exists for the charity to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt going concern basis in preparing the financial statements as at and for the year ended 31 July 2024. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.
The trustees do not consider that there are any sources of estimation uncertainty at the reposting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably.
Grant income
Government grants, including non-monetary grants shall not be recognised until there is reasonable assurance that: (a) the entity will comply with the conditions attached to them; and (b) the grants will be received.
Rental income
Rental income is recognised in accordance with the terms of the rental agreement.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grant making
Grants payable are included in the period when any relevant conditions are met by the receiving entity. Payment of later instalments of a grant usually requires satisfactory progress reports from the project.
continued...
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MECHINAH GOLDERS GREEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2024
1. ACCOUNTING POLICIES - continued
Expenditure
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Raising funds
Raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities, events and non- charitable trading.
Charitable activities
Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support and governance costs
Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of personal development, financial procedures, provision of office services and equipment and a suitable working environment.
Allocation and apportionment of costs
Overhead and support costs relating to charitable activities have been apportioned based on usage.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Investment properties are included in the balance sheet at fair value and are not depreciated. Any change in fair value is recognized in the statement of financial activities. The trustees have reviewed the valuation of the investment property, which has been prepared by a firm of chartered surveyors based on RICS valuation standards, and are happy with the current valuation.
Taxation
The company is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Included in unrestricted funds is a revaluation fund comprising the revaluation surplus of the charity's properties, existence of this fund is fundamental to the charity being able to perform its charitable work and thereby achieve its charitable objectives. The value represented by this surplus should not be regarded, therefore, as realisable value represented by:
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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MECHINAH GOLDERS GREEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2024
1. ACCOUNTING POLICIES - continued
Cash at bank and in hand and debtors
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months form the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits.
Creditors and provision
Creditors and provision are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provision are recognised at the moment the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payments where such discounting is material.
2.
3.
4.
DONATIONS AND LEGACIES
| Donations INVESTMENT INCOME Rents received Deposit account interest RAISING FUNDS Raising donations and legacies Fundraising and events Investment management costs Rent, rates and water Repairs and renewals Property management commission Cleaning expense Interest on loan Aggregate amounts |
2024 £ 591,823 2024 £ 63,899 698 64,597 2024 £ - 2024 £ 2,162 7,974 4,916 1,692 48,491 65,235 65,235 |
2023 £ 223,218 2023 £ - 98 98 2023 £ 900 2023 £ - - - - - - 900 |
|---|---|---|
continued...
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MECHINAH GOLDERS GREEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2024
5. CHARITABLE ACTIVITIES COSTS
6.
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----- Start of picture text -----
|||||
|---|---|---|---|
|Grant|
|funding of|
|activities|Support|
|(see note|costs (see|
|6)|note 7)|Totals|
|£|£|£|
|Charitable activities|599,977|6,393|606,370|
|GRANTS PAYABLE|
|2024|2023|
|£|£|
|Charitable activities|599,977|204,555|
----- End of picture text -----
The total grants paid to institutions during the year was as follows:
==> picture [206 x 154] intentionally omitted <==
----- Start of picture text -----
|||
|---|---|
|BME NW London|345,500|
|Torah Supporters Fund|193,257|
|Grants less than £20,000|56,920|
|£595,677|
|Grants to individuals|4,300|
|£4,300|
----- End of picture text -----
7.
SUPPORT COSTS
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----- Start of picture text -----
|||||
|---|---|---|---|
|Governance|
|Management|costs|Totals|
|£|£|£|
|Charitable activities|1,182|5,211|6,393|
----- End of picture text -----
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.
continued...
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MECHINAH GOLDERS GREEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2024
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Charitable activities Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 10. INVESTMENT PROPERTY FAIR VALUE At 1 August 2023 and 31 July 2024 NET BOOK VALUE At 31 July 2024 At 31 July 2023 |
Unrestricted fund £ 223,218 98 223,316 900 215,822 216,722 6,594 343,692 350,286 £ 1,980,000 1,980,000 1,980,000 |
|---|---|
Investment properties are included in the balance sheet at fair value and are not depreciated. Any change in fair value is recognised in the statement of financial activities. The trustees have valued the investment property, based on a valuation prepared in January 2025 by a firm of chartered surveyors in accordance with RICS valuation standards.
continued...
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MECHINAH GOLDERS GREEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024
| 11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors | 825 | - | |
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| Bank loans and overdrafts (see note 14) | 2024 £ 10,000 |
2023 £ 10,000 |
|
| Other creditors | 16,462 | 12,862 | |
| 26,462 | 22,862 | ||
| 13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||
| Bank loans (see note 14) | 2024 £ 11,500 |
2023 £ 21,500 |
|
| Other loans (see note 14) | 1,636,639 | 1,636,639 | |
| 1,648,139 | 1,658,139 | ||
| Included in other loans are interest bearing loans aggregating £936,639 which are | secured over the | properties held by | |
| charity. |
Other loans also include an unsecured loan due to West Hendon Estates Ltd. The loan is repayable in 2031.
14. LOANS
An analysis of the maturity of loans is given below:
| Amounts falling due within one year on demand: Bank loans Amounts falling due between two and five years: Bank loans Amounts falling due in more than five years: Repayable otherwise than by instalments: Other loans |
2024 £ 10,000 11,500 1,636,639 |
2023 £ 10,000 21,500 1,636,639 |
|---|---|---|
continued...
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MECHINAH GOLDERS GREEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2024
15. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1.8.23 in funds 31.7.24 £ £ £ 350,286 (15,185) 335,101 350,286 (15,185) 335,101 Incoming Resources Movement resources expended in funds £ £ £ 656,420 (671,605) (15,185) 656,420 (671,605) (15,185) Net movement At At 1.8.22 in funds 31.7.23 £ £ £ 343,692 6,594 350,286 343,692 6,594 350,286 Incoming Resources Movement resources expended in funds £ £ £ 223,316 (216,722) 6,594 223,316 (216,722) 6,594 |
|---|---|
continued...
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MECHINAH GOLDERS GREEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2024
15. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1.8.22 in funds £ £ 343,692 (8,591) 343,692 (8,591) |
At 31.7.24 £ 335,101 335,101 |
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 879,736 879,736 |
Resources Movement expended in funds £ £ (888,327) (8,591) (888,327) (8,591) |
|---|---|---|
16. CONTINGENT LIABILITIES
Under the terms of the loan from West Hendon Estates Ltd (see note 13), an additional amount of £1.1m which is currently not collectable, is to be renegotiated at the repayment date in 2031.
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2024 and 31 July 2023.
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