Company Registration No. 7601874 Charity Registration No. 1142995
SETHINGTON LIMITED UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2024
SETHINGTON LIMITED DIRECTORS / TRUSTEES REPORT YEAR ENDED 30 APRIL 2024
The trustees, who are also directors for the purposes of company law, present their report and accounts for the year ended 30 April 2024.
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 FMAAT 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 £21,150 (2023 - £12,050).
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SETHINGTON LIMITED INDEPENDENT EXAMINERS REPORT TO THE DIRECTORS / TRUSTEES OF SETHINGTON LIMITED YEAR ENDED 30 APRIL 2024
I report to the trustees on my examination of the financial statements of Sethington Limited for the year ended 30 April 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
Respective Responsibilities of the Trustees and the Examiners
The trustees of the charity (and also its directors for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). The directors consider that an audit is not required for this year under Section 144 of the Charities Act 2011 (the 2011 Act) or part 16 of the Companies Act 2006 and that an independent examination is required.
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.
Basis of Independent Examiners’ report
Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting record 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 the seeking of explanations from the directors concerning any such matter. 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 that report is limited to those matters set out in the statement below.
Independent Examiners’ Statement
As your examiner must be a member of a body listed in section 145 of the 2011 Act, I confirm that I am qualified to undertake the examination being a fellow member of The Association of Accounting Technicians (AAT) which is one of the listed bodies.
Following my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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The accounts do not accord with those records; or
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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
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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 SORP (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.
Jacob Jakobovits FMAAT Independent Examiner For Kyver & Dale Consultants Ltd Suite 101, Pride House, Shanklin Road London N15 4FB
Date: 21 January 2025
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SETHINGTON LIMITED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 30 APRIL 2024
| 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 |
2024 Unrestricted Funds Total Funds £ £ 16,000 16,000 25,145 25,145 41,145 41,145 (5,066) (5,066) (21,150) (21,150) (1,140) (1,140) (27,356) 27,356 13,789 13,789 946,297 946,297 960,086 960,086 |
2023 Total Funds £ 16,500 25,861 |
|---|---|---|
| 42,361 | ||
| (5,920) (12,050) (1,140) |
||
| (19,110) | ||
| 23,251 923,046 |
||
| 946,297 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes form part of these financial statements
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STATDIENf OF FINANCIAL POSITION 223 Tan1)1¢ Aets J17 SYX).791 C•h atbank and in I5.IKKI 46J61 61J61 47,098 withtti on¢ year 45. Il•blllli¢s The dirtrtots are l$fied that the company is elllidal to exemmion from the PTOViSiOll5 ofthe Companies Ad 2(M)6 {th¢ Act) ytlating to thc audit of the fioallrial Stat¢rn for the year by VIEti of Section 477, aTMI that ¢rnb¢r OT have requeed an audit purllt to 476 of the ACL I. EwTing that the CO kttps thtue Tttords which comply with se£tioo 386 of th¢ ALX attd I Ptq)w fmanciai which Eive atrue and fair view of th¢ state of affai of tbecornpany as at the end of the finallcia] ycar and of its profit or 104 for the fiJJan¢ial Ye )rarte with the r¢quiraD of S*10 393. and which otheThise comply with the requirernats of the AL% rdating financÈal Sratall far as applicableto th¢ a)wally. ThGScfiDanci attse3pPrnV¢d by theboard oft[ystraandauthori fQTi&SU¢.a..l/.Ir aT¢s nedon( ir bdwlf by: nmfdd CowaDy ReaonN0. 7601874
SETHINGTON LIMITED NOTES TO THE ACCOUNTS YEAR ENDED 30 APRIL 2024
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.
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Total | Unrestricted | Total | ||
| Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | ||
| 3) | Investment Income | ||||
| Income from UK investment property | 25,145 | 25,145 | 25,861 | 25,861 | |
| 4) | Investment cost | ||||
| Repairs and maintenance | 2,169 | 2,169 | 4,254 | 4,254 | |
| Management fees | 1,617 | 1,617 | 506 | 506 | |
| Insurance | 806 | 806 | 686 | 686 | |
| Depreciation | 474 | 474 | 474 | 474 | |
| 5,066 | 5,066 | 5,920 | 5,920 | ||
| 5) | Charitable expenditure | ||||
| Donations paid | 21,150 | 21,150 | 12,050 | 12,050 | |
| 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 2024
(Continued)
| 7) Tangible Assets Cost at 01 May 2023 Additions Depreciation brought forward Charge for the year Value carried forward |
Freehold Fixtures & Property Fittings 900,000 5,656 - - 900,000 5,656 4,865 474 5,339 900,000 317 |
Total £ 905,656 - |
|---|---|---|
| 905,656 4,865 474 |
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| 5,339 900,317 |
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.
| 8) Debtors Sundry debtors 9) Creditors Accruals Sundry Creditors |
2024 15,000 1,140 452 1,592 |
2023 15,000 |
|---|---|---|
| 1,140 452 |
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| 1,592 |
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 (2023 - £15,000), held on account for maintenance and repairs.
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