REGISTERED COMPANY NUMBER: 08080547 (England and Wales) REGISTERED CHARITY NUMBER: 1155630
BOROUGHLEA LIMITED
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2021
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
BOROUGHLEA LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 | |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 | |
| Notes to the Financial Statements | 6 to | 9 |
BOROUGHLEA LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MAY 2021
TRUSTEES
TRUSTEES D Frankel E Low E S Weiss REGISTERED OFFICE 15 Clapton Common London E5 9AA REGISTERED COMPANY 08080547 (England and Wales) NUMBER REGISTERED CHARITY 1155630 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
Page 1
BOROUGHLEA LIMITED (REGISTERED NUMBER: 08080547)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2021
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 May 2021. 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).
Reference and administrative information
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
OBJECTIVES AND ACTIVITIES
Objectives and activities for the public benefit
The objects of the charity are the advancement of religion in accordance with the orthodox Jewish faith, the relief of poverty and such other purposes as are recognised by English Law as charitable. The charity is grantmaking.
The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities, and setting the grant making policy for the year.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees are pleased with the results for the year. Although income increased grantmaking was reduced grantmaking leaving a surplus for the year.
FINANCIAL REVIEW
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that the activities of the charity continue. Reserves at the year were £31,384 (2020 - £827).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 23 May 2012.
Organisational structure
The power to appoint new trustees is vested in the continuing board. It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future the trustees will apply suitable recruitment, induction and training procedures. The charity is run by the trustees.
Risk review
The trustees have confirmed that there are no major risks to which the charity is exposed.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 24 February 2022 and signed on its behalf by:
E Low - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BOROUGHLEA LIMITED
Independent examiner's report to the trustees of Boroughlea Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2021.
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 registered member of Institute of Chartered Accountants 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.
E Meyer FCA BSc Institute of Chartered Accountants Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
24 February 2022
Page 3
BOROUGHLEA LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 285,000 EXPENDITURE ON Charitable activities 2 Charitable activities 254,443 NET INCOME/(EXPENDITURE) 30,557 RECONCILIATION OF FUNDS Total funds brought forward 827 TOTAL FUNDS CARRIED FORWARD 31,384 |
2020 Total funds £ 100,001 322,727 (222,726) 223,553 827 |
|---|---|
The notes form part of these financial statements
Page 4
BOROUGHLEA LIMITED (REGISTERED NUMBER: 08080547)
BALANCE SHEET 31 MAY 2021
| Notes CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds: General fund TOTAL FUNDS |
2021 Total funds £ 34,260 (2,876) 31,384 31,384 31,384 31,384 31,384 |
2020 Total funds £ 3,463 (2,636) 827 827 827 827 827 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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.
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 24 February 2022 and were signed on its behalf by:
E Low - Trustee
The notes form part of these financial statements
Page 5
BOROUGHLEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
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.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Going concern
There are no material uncertainties about the charity's ability to continue.
Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the amount expected to be received or paid and not discounted.
2. CHARITABLE ACTIVITIES COSTS
| Grant | |||
|---|---|---|---|
| funding of | |||
| activities | Support | ||
| (see note | costs (see | ||
| 3) | note 4) | Totals | |
| £ | £ | £ | |
| Charitable activities | 252,661 | 1,782 | 254,443 |
Page 6
BOROUGHLEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2021
3. GRANTS PAYABLE
| GRANTS PAYABLE | |||
|---|---|---|---|
| Charitable activities The total grants paid to institutions during the year was as follows: Advancement of education Relief of poverty Advancement of religion General purpose |
2021 £ 252,661 2021 £ 38,130 88,591 92,480 33,460 252,661 63,000 36,000 15,000 13,750 12,500 11,400 10,800 90,211 252,661 |
2020 £ 321,370 |
|
| 2020 £ 183,890 55,560 81,920 - |
|||
| 321,370 | |||
| Ezras Yisroel Trust | |||
| CML Trust | |||
| Ezer Bekuvoid Ltd | |||
| ZSV | |||
| Zoreya Tzedokos | |||
| Amud Hatzdokoh Trust | |||
| Bayis Lepleitos | |||
| Others below £10,000 | |||
4. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Finance | costs | Totals | |
| £ | £ | £ | |
| Charitable activities | 48 | 1,734 | 1,782 |
| Support costs, included in the above, are as follows: | |||
| Finance | |||
| 2021 | 2020 | ||
| Charitable | Total | ||
| activities | activities | ||
| £ | £ | ||
| Bank charges | 48 | 49 | |
| Governance costs | |||
| 2021 | 2020 | ||
| Charitable | Total | ||
| activities | activities | ||
| £ | £ | ||
| Independent examiner's fee | 300 | 240 | |
| Independent examiner's other fees | 900 | 840 | |
| General expenses | 534 | 228 | |
| 1,734 | 1,308 |
Page 7
BOROUGHLEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2021
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2021 nor for the year ended 31 May 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2021 nor for the year ended 31 May 2020.
6. AVERAGE STAFF NUMBERS
The average number of staff in the year was Nil (2020 - Nil)
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trustees' accounts Accruals and deferred income |
2021 £ 476 2,400 2,876 |
2020 £ 476 2,160 |
|---|---|---|
| 2,636 |
8. 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 |
At 1.6.20 £ 827 827 Incoming resources £ 285,000 285,000 |
Net movement At in funds 31.5.21 £ £ 30,557 31,384 30,557 31,384 Resources Movement expended in funds £ £ (254,443) 30,557 (254,443) 30,557 |
|---|---|---|
Page 8
BOROUGHLEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2021
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.6.19 £ Unrestricted funds General fund 223,553 TOTAL FUNDS 223,553 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 100,001 TOTAL FUNDS 100,001 |
Net movement At in funds 31.5.20 £ £ (222,726) 827 (222,726) 827 Resources Movement expended in funds £ £ (322,727) (222,726) (322,727) (222,726) |
|---|---|
9. RELATED PARTY DISCLOSURES
The charity received unrestricted donations of £185,000 from companies in which a trustee has an interest. The charity made a donation of £63,000 to a charity in which a trustee has an interest
Page 9