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← Boroughlea Limited

2025-05-31-accounts

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 2025

Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS

BOROUGHLEA LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 3
Report of the Independent Auditors 4 to 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 16

BOROUGHLEA LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MAY 2025

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 AUDITORS Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor 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 2025

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 2025. 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.

Grantmaking

In general the trustees select the institutions to be supported according to their personal knowledge of work of the institution. Whilst not actively inviting applications, they are always prepared to accept any application which will be carefully considered and help given according to circumstances and funds then available

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The charity is reliant on voluntary income from companies and charities connected with the trustees There was a substantial increase in income, from which the charity purchased a property to be used for educational purposes. The charity continued its philanthropic activities by grantmaking.

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 deficit £1,738,983 (2024 - £1,888 deficit) of which £11,880 (2024- Nil) were free reserves

FUTURE PLANS

The charity plans to continue its activities for the foreseeable future subject to satisfactory income.

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.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

Page 2

BOROUGHLEA LIMITED (REGISTERED NUMBER: 08080547)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2025

The trustees (who are also the directors of Boroughlea Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Sugarwhite Meyer Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

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 26 March 2026 and signed on its behalf by:

E Low - Trustee

Page 3

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BOROUGHLEA LIMITED

Opinion

We have audited the financial statements of Boroughlea Limited (the 'charitable company') for the year ended 31 May 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BOROUGHLEA LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BOROUGHLEA LIMITED

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In performing an audit, we exercise professional judgment and maintain professional scepticism throughout the audit.

We also identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. The risk of not detecting a material misstatement resulting from fraud is higher than one for one resulting from error, as fraud may involve collusion, forgery, intentional omissions misrepresentation or override of internal control.

We obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of charity's internal control.

We evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements

We concluded whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about charity's ability to continue as a going concern for a reasonable period of time.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Other matter

The corresponding figures for the prior year are unaudited as an audit was not required by any Act or the trustee.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BOROUGHLEA LIMITED

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

E Meyer FCA BSc (Senior Statutory Auditor) for and on behalf of Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS

26 March 2026

Page 7

BOROUGHLEA LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2025

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
EXPENDITURE ON
Charitable activities
2
Grantmaking
Support
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2025
Unrestricted
fund
£
2,355,312
602,733
11,708
614,441
1,740,871
(1,888)
1,738,983		 2024
Total
funds
£
730,500
811,863
2,313
814,176
(83,676)
81,788
(1,888)

The notes form part of these financial statements

Page 8

BOROUGHLEA LIMITED (REGISTERED NUMBER: 08080547)

BALANCE SHEET 31 MAY 2025

Notes
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Debtors
9
Cash at bank
CREDITORS
Amounts falling due within one year
10
NET CURRENT ASSETS/(LIABILITIES)
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS/(LIABILITIES)
FUNDS
11
Unrestricted funds:
General fund
TOTAL FUNDS		 2025
Total
funds
£
1,575,311
152,152
15,835
167,987
(4,315)
163,672
1,738,983
1,738,983
1,738,983
1,738,983		 2024
Total
funds
£
-
-
988
988
(2,876)
(1,888)
(1,888)
(1,888)
(1,888)
(1,888)

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 26 March 2026 and were signed on its behalf by:

E Low - Trustee

The notes form part of these financial statements

Page 9

BOROUGHLEA LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MAY 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash (used in)/provided by investing 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		 2025
£
1,590,158
1,590,158
(1,575,311)
(1,575,311)
14,847
988
15,835		 2024
£
(82,596)
(82,596)
-
-
(82,596)
83,584
988

The notes form part of these financial statements

Page 10

BOROUGHLEA LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MAY 2025

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

ACTIVITIES
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Increase in debtors
Increase in creditors
Net cash provided by/(used in) operations		 2025
£
1,740,871
(152,152)
1,439
1,590,158		 2024
£
(83,676)
-
1,080
(82,596)

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.6.24 Cash flow At 31.5.25
£ £ £
Net cash
Cash at bank 988 14,847 15,835
988 14,847 15,835
Total 988 14,847 15,835

The notes form part of these financial statements

Page 11

BOROUGHLEA LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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.

Tangible fixed assets

This relates to the charity's property which is intended for functional use and is stated at cost. No depreciation is provided on freehold land and buildings used as a functional asset.

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.

Page 12

BOROUGHLEA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2025

2. CHARITABLE ACTIVITIES COSTS

Grant
funding of
activities
(see note
3)
£
Grantmaking
602,733
Support
-
602,733
3.
GRANTS PAYABLE
Grantmaking
The total grants paid to institutions during the year was as follows:
Advancement of education
Relief of poverty
Advancement of religion
Social Welfare
Chasdei Yoel Charitable Trust
Yeshuos Shabbos
Zoreya Tzedokos Ltd
Tatsil Trust
United Talmudical Associates Ltd
Chasdei Aharon Ltd
Start Upright
Amud hatzdokoh Trust
Friends of Mosdos Torah Veyira
YTV London
Chesed Shel Emess Ltd
Others below £11,000		 Support
costs (see
note 4)
£
-
11,708
11,708
2025
£
602,733
2025
£
120,460
233,635
193,793
54,845
602,733
156,650
48,360
44,085
36,400
36,120
31,000
30,300
29,300
28,000
22,010
20,000
120,508
602,733		 Totals
£
602,733
11,708
614,441
2024
£
811,863
2024
£
62,973
346,945
277,580
124,365
811,863

Page 13

BOROUGHLEA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2025

4. SUPPORT COSTS

Finance
£
Support
916
Support costs, included in the above, are as follows:
Finance
Bank charges
Other
Sundries
Governance costs
Auditors' remuneration
Auditors' remuneration for non audit
work
Independent examiner's fee
Independent examiner's other fees
General expenses
5.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Auditors' remuneration for non audit work		 Governance
Other
costs
Totals
£
£
£
7,732
3,060
11,708
2025
2024
Total
Support
activities
£
£
916
879
2025
2024
Total
Support
activities
£
£
7,732
-
2025
2024
Total
Support
activities
£
£
960
-
1,800
-
-
300
-
780
300
354
3,060
1,434
2025
2024
£
£
960
-
1,800
-

Page 14

BOROUGHLEA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2025

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 May 2025 nor for the year ended 31 May 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 May 2025 nor for the year ended 31 May 2024.

7. AVERAGE STAFF NUMBERS

The average number of staff in the year was Nil (2024 - Nil)

8. TANGIBLE FIXED ASSETS

COST
Additions
NET BOOK VALUE
At 31 May 2025
At 31 May 2024
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trustees' accounts
Accruals and deferred income
11.
MOVEMENT IN FUNDS
At 1.6.24
£
Unrestricted funds
General fund
(1,888)
TOTAL FUNDS
(1,888)		 2025
£
152,152
2025
£
476
3,839
4,315
Net
movement
in funds
£
1,740,871
1,740,871		 Freehold
property
£
1,575,311
1,575,311
-
2024
£
-
2024
£
476
2,400
2,876
At
31.5.25
£
1,738,983
1,738,983

Page 15

BOROUGHLEA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2025

11. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
2,355,312
2,355,312		 Resources
expended
£
(614,441)
(614,441)		 Movement
in funds
£
1,740,871
1,740,871

Comparatives for movement in funds

Net
movement
At 1.6.23
in funds
£
£
Unrestricted funds
General fund
81,788
(83,676)
TOTAL FUNDS
81,788
(83,676)		 At
31.5.24
£
(1,888)
(1,888)

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
730,500
730,500		 Resources
Movement
expended
in funds
£
£
(814,176)
(83,676)
(814,176)
(83,676)

12. RELATED PARTY DISCLOSURES

The charity's received all its income from companies and charities in which some trustees have an interest, and made a donations of £3,500 to Ezras Yisroel Trust and £20,010 to YTV London, charities in which a trustee has an interest.

Page 16