Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
Registered number: 09583708 Charity number: 1162974
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED (A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024
Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED (A company limited by guarantee) CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charitable company, its trustees and | 1 |
| advisers | |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 17 |
Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 29 APRIL 2024
| Trustees | B Mocatta, Chair |
|---|---|
| R Taylor, Trustee | |
| G R Riese, Trustee | |
| V Ettinghausen, Trustee | |
| D Ezekiel, Trustee | |
| Company registered number 09583708 Charity registered number 1162974 Registered office 16 Great Queen Street Covent Garden London WC2B 5AH Accountants Blick Rothenberg Limited Chartered Accountants 16 Great Queen Street Covent Garden London WC2B 5AH |
Page 1
Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 29 APRIL 2024
The trustees present their annual report together with the financial statements of the charitable company for the 30 April 2023 to 29 April 2024. The annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charitable company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Achievements and performance
a. Main achievements of the charitable company
The site of the Home continued to be occupied by the guardians of Adhoc Property Management Limited. It was the view of the trustees that as this arrangement has worked out better than thought that it should continue until we knew what the Spanish and Portuguese Jewish Congregation had decided the future of its interest in the site. The one tenant of Choice Court still remains.
However, there is a difference of an opinion between this charity and that of the Spanish and Portuguese Jews Congregation as to the true equitable ownership of the site. This is an ongoing matter. All that can be said is that this income stream came to an end as at the end of August 2024 and more information will be released at the appropriate time.
The trustees have not made any actual charitable grants since it ceased to operate as a care home and a provider of sheltered accommodation. We are still anxious to rebuild our capital base. It is still the case that the trustees hope that the Home can realise some of its capital from its interest in the Wembley site and then look towards reestablishing itself as a home in another area, more convenient for the Jewish population of London and the home counties. The trustees have had to take legal advice.
b. Policies and objectives
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Financial review
a. Going concern
Even though the company ceased to operate the care home in the period to April 2022, the trustees do intend for the charity to continue for the benefit of the elderly of the Jewish community for the foreseeable future by using the returns of its investment towards related charitable activities. Where appropriate, the charitable company's assets have been written down to their net realisable value. The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Page 2
Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 29 APRIL 2024
b. Reserves policy
The unrestricted funds arise from past operating results, but also include the long leasehold property of Choice House and Choice Court as well as other investments. We have instant or relatively quick access to funds in the Pool investment which can be released by special arrangement at short notice. This and the collection of charges due from residents is more than adequate in the opinion of the Board of Directors to meet the foreseeable contractual obligations to staff and provision of care to residents and tenants.
c. Financial evaluation
The statement of financial activities set out on page 6 of the financial statements shows how the charitable company's incoming resources have been expended during the period ended 29 April 2024.
Total incoming resources amounted to £105,848 (2023: £90,182), comprising charitable activities of £7,898 (2023: £7,898), donations of £2,490 (2023: £3,249), investment income of £6,180 (2023: £11,979) and other income of £89,280 (2023: £67,056).
Total expenditure for the period was £42,622 (2023: £45,999) and there were gains on the investments held by the charitable company of £80,930 (2023: losses of £191,552).
Accordingly, the surplus for the period was £144,156 (2023: deficit £147,369). After bringing in the brought forward reserves of £584,625 (2023: £731,994), the closing funds at 29 April 2024 amounted to £728,781 (2023: £584,625).
The statement of financial position set out on page 7 of the financial statements shows the financial position of the charitable company at 29 April 2024.
Net assets of £728,781 (2023: £584,625) is represented by fixed assets of £610,194 (2023: £529,264), debtors of £14,118 (2023: £5,900) plus cash at bank and in hand of £118,197 (2023: £64,500), less current liabilities of £13,728 (2023: £15,039).
Total net assets amount to £728,781 (2023: £584,625), which is represented by the closing balance on the unrestricted funds.
d. Controls
The Treasurer reviews the financial performance and cash flow of the charity on an ongoing basis, together with the Accounts Manager. The Board of Directors is regularly updated with current financial reports which show actual income and expenditure against budget to date. Close scrutiny is made of all items with significant variances to determine the appropriate management action.
e. Fundraising and sources of income
The charity is fortunate to receive a small annual amount from donations and a significant amount of income from its investments with the London Sephardi Trust.
In the period to April 2022, the Home was taken over by Adhoc Property Management Limited who act as property guardians. This enabled the charitable company to start generating some other income during the period.
Page 3
Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 29 APRIL 2024
f. Investment policy
The capital of the Home is invested under a pooling arrangement with the London Sephardi Trust which is a limited company which looks after the pooled funds of not only the charity but also the Spanish and Portuguese Jews’ Congregation’s own capital, the Welfare Board and a variety of smaller charitable funds. One member of the Board of Jewish Choice is a permanent member of the board of the London Sephardi Trust. Funds can be withdrawn or invested with this Trust on 31 October of each year, though major withdrawals or additions can be made at other times by special arrangement. Other funds of the charity are invested in deposit accounts with the charity's bank.
g. Risk management
The trustees have assessed the major risks to which Jewish Choice is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to major risks.
h. Post balance sheet events
It is the intention of the trustees to make grants to other care homes which wholly, or in part, serve the Jewish Community. The trustees wish to assist such homes in the purchasing of specialist equipment that may be required. Before doing so the Home will take legal advice to ensure that this policy is within the lawful objects of the Home.
Structure, governance and management
a. Constitution
The Spanish and Portuguese Jews Home for the Aged is registered as a charitable company limited by guarantee and was set up by a Trust deed.
b. Methods of appointment or election of trustees
The management of the charitable company is the responsibility of the trustees who are elected and co-opted under the terms of the Trust deed.
The trustees, who are also the Directors for the purpose of company law, and who served during the period were:
B Mocatta, Chair R Taylor G R Riese V Ettinghausen D Ezekiel
Approved by order of the trustees and signed on their behalf by:
B Mocatta Trustee
Date: 29-May-25 | 10:15 BST
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Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 29 APRIL 2024
Independent examiner's report to the trustees of The Spanish and Portuguese Jews Home for the Aged ('the charitable company')
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 29 April 2024.
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for my work or for this report.
Responsibilities and basis of report
As the trustees of the charitable company (and 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 charitable 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 the charitable company's accounts 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
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 charitable 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.
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.
Signed: Dated: 29-May-25 | 10:16 BST Darsh Shah (FCA)
Blick Rothenberg Limited
Chartered Accountants 16 Great Queen Street Covent Garden London WC2B 5AH
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Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 29 APRIL 2024
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Other income 8 Total income Expenditure on: Charitable activities 8 Total expenditure Net income before net gains/(losses) on investments Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward 15 Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 2,490 7,898 6,180 89,280 105,848 42,622 42,622 63,226 80,930 144,156 584,625 144,156 728,781 |
Total funds 2024 £ 2,490 7,898 6,180 89,280 105,848 42,622 42,622 63,226 80,930 144,156 584,625 144,156 728,781 |
Total funds 2023 £ 3,249 7,898 11,979 67,056 90,182 45,999 45,999 44,183 (191,552) (147,369) 731,994 (147,369) 584,625 |
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 17 form part of these financial statements.
Page 6
Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
REGISTERED NUMBER: 09583708
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
BALANCE SHEET FOR THE YEAR ENDED 29 APRIL 2024
| Note Fixed assets Tangible assets 11 Investments 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
14,118 118,197 132,315 (13,728) |
2024 £ 1 610,193 610,194 118,587 728,781 728,781 - 728,781 728,781 |
5,900 64,500 70,400 (15,039) |
2023 £ 1 529,263 |
|---|---|---|---|---|
| 529,264 55,361 |
||||
| 584,625 | ||||
| 584,625 | ||||
| - 584,625 |
||||
| 584,625 |
The charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
B Mocatta Trustee Date: 29-May-25 | 10:15 BST
The notes on pages 8 to 17 form part of these financial statements.
Page 7
Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
1. General information
The Spanish and Portuguese Jews Home for the Aged is a private company limited by guarantee incorporated in England and Wales. The registered office is 16 Great Queen Street, London, WC2B 5AH.
These financial statements have been prepared for the year from 30 April 2023 to 29 April 2024.
The financial statements are prepared in Sterling (£), which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Spanish and Portuguese Jews Home for the Aged 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.
2.2 Going concern
Though the company ceased to operate the care home in the period to April 2022, the trustees do intend for the charity to continue for the benefit of the elderly of the Jewish community for the foreseeable future by using the returns of its investment towards related charitable activities. Where appropriate, the charitable company's have been written down to their net realisable value. The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
2.4 Income
All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Fees from residents and local authorities for accommodation and care services are recognised on a receivable basis. Any payments in advance by clients at the period end are included within creditors.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.
Page 8
Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
2. Accounting policies (continued)
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
In the period to April 2022, the freehold properties held by the charitable company were impaired down to a £1 net book value, and therefore there is no depreciation charged in either the prior period or current year.
2.7 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(losses) on investments’ in the statement of financial activities.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.9 Liabilities and provisions
Liabilities 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.
Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Page 9
Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
2. Accounting policies (continued)
2.10 Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
The company’s policies for its major classes of financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Page 10
Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
2. Accounting policies (continued)
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of financial activities.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the statement of financial activities.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
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Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024
3. Income from donations and legacies
| Unrestricted funds 2024 £ Donations 2,490 Total 2023 3,249 |
Total funds 2024 £ 2,490 3,249 |
Total funds 2023 £ 3,249 |
|---|---|---|
4. Income from charitable activities
| Unrestricted funds 2024 £ Income from charitable activities 7,898 Total 2023 7,898 Investment income Unrestricted funds 2024 £ Income from unlisted investments 6,180 Total 2023 11,979 |
Total funds 2024 £ 7,898 7,898 Total funds 2024 £ 6,180 11,979 |
Total funds 2023 £ 7,898 |
|---|---|---|
| Total funds 2023 £ 11,979 |
||
5. Investment income
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Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024
6. Charitable activities
| Share of support costs Share of governance costs |
Choice Court 2024 £ 30,358 12,264 42,622 |
Total funds 2024 £ 30,358 12,264 42,622 |
Total funds 2023 £ 33,457 12,542 |
|---|---|---|---|
| 45,999 |
7. Support and governance costs
| Rates Insurance Light and heat Repairs and maintenance Legal and professional Accountancy and audit fees Total 2023 |
Support costs 2024 £ - 16,184 (1,902) 16,076 - - 30,358 33,457 |
Governance costs 2024 £ - - - - - 12,264 12,264 12,542 |
Total funds 2024 £ - 16,184 (1,902) 16,076 - 12,264 42,622 45,999 |
Total funds 2023 £ (1,187) 15,238 - 13,706 5,700 12,542 |
|---|---|---|---|---|
| 45,999 | ||||
8. Other incoming resources
| Other income Total 2023 |
Unrestricted funds 2024 £ 89,280 67,056 |
Total funds 2024 £ 89,280 67,056 |
Total funds 2023 £ 67,056 |
|---|---|---|---|
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Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024
| 9. | Independent examiner's remuneration | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Fees payable to the charitable company's independent examiner | 11,400 | 11,400 | |
| 10. | Trustees' remuneration and expenses | ||
| During the year, no trustees received any remuneration or other benefits (2023 - £NIL). | |||
| During the year ended 29 April 2024, no trustee expenses have been incurred (2023 - £NIL). | |||
| 11. | Tangible fixed assets | ||
| Freehold | |||
| property | |||
| £ | |||
| Cost | |||
| At 30 April 2023 | 2,671,581 | ||
| At 29 April 2024 | 2,671,581 | ||
| Depreciation | |||
| At 30 April 2023 | 2,671,580 | ||
| At 29 April 2024 | 2,671,580 | ||
| Net book value | |||
| At 29 April 2024 | 1 | ||
| At 29 April 2023 | 1 |
Page 14
Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024
| 12. Fixed asset investments Cost or valuation At 30 April 2023 Revaluations At 29 April 2024 Net book value At 29 April 2024 At 29 April 2023 13. Debtors Due within one year Prepayments and accrued income 14. Creditors: Amounts falling due within one year Trade creditors Accruals and deferred income |
2024 £ 14,118 14,118 2024 £ 2,328 11,400 13,728 |
Unlisted investments £ 529,263 80,930 |
|---|---|---|
| 610,193 | ||
| 610,193 | ||
| 529,263 | ||
| 2023 £ 5,900 5,900 2023 £ 3,639 11,400 15,039 |
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Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024
15. Statement of funds
Statement of funds - current year
| Balance at | Balance at | Balance at | |||
|---|---|---|---|---|---|
| 30 April | Gains/ | 29 April | |||
| 2023 | Income | Expenditure | (Losses) | 2024 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General Funds - all funds | 584,625 | 105,848 | (42,622) | 80,930 | 728,781 |
| Statement of funds - prior period | |||||
| Balance at | Gains/ | Balance at | |||
| 30 | April 2022 | Income | Expenditure | (Losses) | 29 April 2023 |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General Funds - all funds | 731,994 | 90,182 | (45,999) | (191,552) | 584,625 |
Page 16
Docusign Envelope ID: 120C8448-4A21-4530-BFCF-1490449454BA
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024
16. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 2024 £ Tangible fixed assets 1 Fixed asset investments 610,193 Current assets 132,315 Creditors due within one year (13,728) Total 728,781 |
Total funds 2024 £ 1 610,193 132,315 (13,728) 728,781 |
|---|---|
Analysis of net assets between funds - prior period
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 1 529,263 70,400 (15,039) 584,625 |
Total funds 2023 £ 1 529,263 70,400 (15,039) 584,625 |
|---|---|---|
17. Members' liability
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up whilst they are a member, or within one year after they cease to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before they cease to be a member.
18. Related party transactions
The charitable company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charitable company at 29 April 2024.
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