Company Registration No. 7601874 Charity Registration No. 1142995
SETHINGTON LIMITED UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2023
SETHINGTON LIMITED DIRECTORS / TRUSTEES REPORT YEAR ENDED 30 APRIL 2023
The trustees, who are also directors for the purposes of company law, present their report and accounts for the year ended 30 April 2023.
Reference and Administrative Details
Trustees Mr J Friedman Mr J Grunfeld Mr S B Finkelstein Company Registration No 7601874 Charity Registration No 1142995 Registered Office Kyver & Dale Suite 101, Pride House Shanklin Road London N15 4FB Independent Examiner Jacob Jakobovits Kyver & Dale Consultants Ltd Suite 101, Pride House Shanklin Road London N15 4FB
Structure and Objectives
The charity is constituted as a company limited by guarantee and is therefore governed by its Memorandum and Articles of Association. There are no investment restrictions.
The above trustees served throughout the period and there are no other trustees. The Board has the power to appoint additional trustees, as it considers fit.
The objects of the charity are: -
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To advance the education of Jewish pupils according to the tenants of the Orthodox Jewish religion by providing and assisting in the provision of appropriate facilities needed for such purposes, and;
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To promote any purpose that the trustees may decide and that is legally considered charitable.
The charity carries out its objects by way of giving grants to institutions. All decisions are made by a majority vote of the Trustees.
Developments and Activities
The charity is a grant making charity.
The trustees consider that the performance of the charity this period has been most satisfactory. The trustees have identified the risks to which the charity may be exposed and systems have been established to mitigate these risks. Grants are made to such charity organisations whose trustees are known to the trustees of the charitable company in amounts thought appropriate. The trustees have had due regard to guidance published by the Charity Commission, including public benefit guidance.
During the year, the charity made grants and donations of £12,050 (2022 - £34,500).
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SETHINGTON LIMITED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 30 APRIL 2023
| Notes Income Donations Investment Income 3 Total Income Expenditure Investment costs 4 Charitable expenditure 5 Administrative expenses 6 Total Expenditure Net Income for the Year Reconciliation of funds Total funds brought forward Total funds carried forward |
2023 Unrestricted Funds Total Funds £ £ 16,500 16,500 25,861 25,861 42,361 42,361 (5,920) (5,920) (12,050) (12,050) (1,140) (1,140) (19,110) 19,110 23,251 23,251 923,046 923,046 946,297 **946,297 ** |
2022 Total Funds £ 10,000 33,675 |
|---|---|---|
| 43,675 | ||
| (9,530) (34,500) (1,140) |
||
| (45,170) | ||
| (1,495) 924,541 |
||
| 923,046 |
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20Z3 2022 Tan1)le A&Yts 791 SX11265 15.1K#) io 25J73 32198 47•YI 592 4SJ16 UDrGStriLtul fuThJs aluthi rwern of £27.OT2 i1 21a)6 1itr¢ Act) rdw to tht audit of the ents for th¢ y¢w by vtrtue of 477, and that no embe1(Yrnebm baye Tequl an audit pIrnt to 476 of the ACL I. Eill8 th¢ ClrfDPay T•X)rth vAJith pIY dion 386 of the and 2. Fwing fi11] whi¢h give ar¥J fair view of the of affairs of the 88 th¢ end of the fir1?1 year and of its profft or loss for the finla1 year in ordat with the )mpdnw¢x•nirtion. ¢ sig1 thwbrjIfby. Mrj Grunttld Trucc Company Rcgi%t on o- 7fA11874
SETHINGTON LIMITED NOTES TO THE ACCOUNTS YEAR ENDED 30 APRIL 2023
1) General Information
The charity is a private company limited by guarantee, registered in England and a registered charity in England. The registered office is located at Kyver & Dale, Suite 101 Pride House, Shanklin Road London N15 4FB.
2) Accounting policies
Basis of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Companies Act and applicable accounting standards including the SORP (FRS 102) subject to the revaluation of certain fixed assets and the non-provision of depreciation thereon.
The presentation currency is sterling.
Going Concern
The accounts have been prepared on a going concern basis as there are no material uncertainties about the charitable company’s ability to continue.
Investment property
Freehold investment property was valued by the directors/trustees at open market value as at the yearend based on their knowledge of the market. No depreciation is charged on this. The management has concluded that based on this treatment the company’s financial position and performance are fairly presented.
Depreciation
Depreciation is calculated so as to write off the cost of the Fixtures and Furniture, less its estimated residual value over its useful economic life at 15% using the reducing balance method.
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Total | Unrestricted | Total | |||
| Funds | Funds | Funds | Funds | |||
| £ | £ | £ | £ | |||
| 3) | Investment Income | |||||
| Income from UK investment property | 25,861 | 25,861 | 33,675 | 33,675 | ||
| 4) | Investment cost | |||||
| Repairs and maintenance | 4,254 | 4,254 | 7,620 | 7,620 | ||
| Management fees | 506 | 506 | 588 | 588 | ||
| Professional fees | - | - | - | - | ||
| Insurance | 686 | 686 | 848 | 848 | ||
| Letting Fees | - | - | - | - | ||
| Depreciation | 474 | 474 | 474 | 474 | ||
| 5,920 | 5,920 | 9,530 | 9,530 | |||
| 5) | Charitable expenditure | |||||
| Donations paid | 12,050 | 12,050 | 34,500 | 34,500 | ||
| 6) | Administrative Expenses | |||||
| Accountancy fees | 540 | 540 | 540 | 540 | ||
| Independent Examiners fees | 600 | 600 | 600 | 600 | ||
| General Expenses | - | - | - | - | ||
| 1,140 | 1,140 | 1,140 | 1,140 |
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SETHINGTON LIMITED NOTES TO THE ACCOUNTS YEAR ENDED 30 APRIL 2023
(Continued)
| Freehold | Fixtures & | Total | ||
|---|---|---|---|---|
| Property | Fittings | £ | ||
| 7) | Tangible Assets | |||
| Cost at 01 May 2022 | 900,000 | 5,656 | 905,656 | |
| Additions | - | - | - | |
| 900,000 | 5,656 | 905,656 | ||
| Depreciation brought forward | 4,391 | 4,391 | ||
| Charge for the year | 474 | 474 | ||
| 4,865 | 4,865 | |||
| Value carried forward | 900,000 | 791 | 900,791 | |
| The freehold property is shown at | open market value as per the directors valuation. | |||
| The charitable company holds the | full issued shares in Nostram Ltd, a company registered in England. | |||
| Group Financial Statements have not been prepared under the exemption of Section 398 of the | ||||
| Companies Act 2006. | ||||
| 2023 | 2022 | |||
| 8) | Debtors | |||
| Sundry debtors | 15,000 | 15,000 | ||
| 9) | Creditors | |||
| Accruals | 1,140 | 2,085 | ||
| Sundry Creditors | 452 | 1,507 | ||
| 1,592 | 3,592 |
10) Related party transactions
The management fees were paid to Sparkstone Services Ltd, a company under the control of Mr S B Finkelstein. At the year end, Sparkstone Services Ltd owed the charitable company £15,000 (2022 - £15,000), held on account for maintenance and repairs.
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