Charfty Rgglstratlon No. 1184204 Company Regl$tratlon No. 11568671 {England and Wale81 HENDON ADATH LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
HENDON ADATH LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trultees D Segal AA Gutt8nlag AM Jacobs BNRowe S•¢r•t•ry AM Jacobs Charlty numbor 1184204 coMnY numb•r 11568671 R•pl•t•r•d ¢)ffl¢• 118renl Sl, H8ndon London Unltgd Kingdom NW4 2EU Indop•nd•nt 0MIn•r Anthony Eplon BA FCA CTA FCIE Goldwlns Llmlted 7S Maygrove Road West Hampstead London NW6 2EG
HENDON ADATH LIMITED CONTENTS Pag• Tw¥tee$' report ststemont of Irug188s' r88pon8lblllll88 Independent examlnorfs report Slatsment of finoncial 8Ctlvll Balance Sheet Statemonl of cash flows Not88 to th• flnancSal slatgmonts 7-11
HENDON ADATH LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2021 The Iruslees wesent their report and finan¢ial stslemonts lor th• year endod 31 M8rch 2021. The financial stat8m8nts hav8 bè8n prèpared in accordance with Ihe 8ccounling policies sel out in note 1 to the linano815tat8menls and comply with the charivs goveming document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statamant ol Recommendgd Pracllcfr applicabl8 lo ch8ritio8 preparing their accounts in accordan with th6 Fin#n¢ial Réporting Standard applicable in the UK and Republlc of Irel8nd IFRS 1021 leffectlv8 1 January 20191". Obhctlvos and actlvltles The chartly's objects are 8dvancemenl of Iht orthodox Jewish faith. Th8 Irusl6&8 have paid due regard lo guidanc6 Issued by the Charity Cc4nml$$lon Sn (JecitJlng what adivlli&8 the charity should undertake. Aehl•v•mènts and p•rfoTman¢• Flnanclal r•Yl•w 11 Is the policy ol the charity Ihat unrestricted funds whSch hava not baon do$lgn8led for a 8pe¢lNc us8 Should be maintained at a level equlvalenl lo beeen three and six month's expenditure. The Iruslees con51ders that T¢rVeS 01 this lev81 will ensure that, In the event ol a 5Igni1Scanl drop in fundlng. th8y will be able to contlnue th8 charity's current aclivilie5 while consideration is given to ways in which addItnl lunds may ba ralsad. This level of reserves has been malntalnad throughout the y88r. The Iruslees has assessed the major rlsks to whleh the charity Is expos8d, and are sallsfied that systems are In pla¢9 to mlugale exposure lo the major rfsks. Stru¢tur•, govarnènce and manag•m•nt Th8 ch8rity is a company limlt8d by 9uar8nle8, gov8med by11 Memorandum and Artides ofAssociallon. The trustees, who a also the di¢10r$ for the purpose of cornpany law, and who s8N8d durlng th8 y8Br and up to the dale ol slgnature ol the financial statomenls were.. D Se981 AA Guttentag AM Jacobs BNRowe None of Ihg Iruslees has any benef181 intere81 in the company. All ol the trustees are members of the company and guarantee lo contribute £1 in the event ol a winding up. Th• nJslg0$' reFK)rt was approv8d by th8 Board ol Trustees. A M Jacobs Trustge
HENDON ADATH LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2021 The trustees, who Bre also the directors of HENDON ADATH LIMITED for the Purpo of company law. are responsible f¢r preparfng the Tru8t8es' Report 8nd the financial statements in accordance with applicable law 8nd Unitèd Kingdorn Accounknng Standards (United Kingdorn Generally Accepted Accounting Practicel. Company Law r8quir8S the trustèes lo preparo flnancial slalemenls fof each flnancial year whlch glve a true and fair view of thè stal8 ol affairs of th8 charity and of the incoming resources and application of resources, Includbng the IncL)me and 8xpendrtur8, ol ihe chantable company for Ihol year. In preparfng th&98 Ilnandal s1816ments, Ihe trustees are reqvired to: select suitabl8 accounlln9 pollcie$ and thon apply Ihem consistgnlly., observe Ihe methods and prin¢ipl88 in Ihe Char1158s SORP.. mako ludgements 8n¢Y e$llm8le8 that ar& rea8on8bl6 and pNdenl', slate whether applicable UK Accounting Standards hav8 b88n lollowad, subl8Ct lo gny mat8rl81 d8parIu6 dlsclosed and explgined in tha Ilnancial statements.. and prep8re the financ4al sta18rnents on the 90ing conc8m basis unless il Is inoppropriole to presume Ihol the charlty w511 conllnue In operation. Th& tru8tg8$ 8fe responslble lor keeping adequate accounllng records that disclose vAth reasonable accuracy ot any time the flnancial posltion ol the charity and enable Ihern lo ensurg th81 th& finandal sla¢emenls comply wllh the Companies Act 2006. They or8 also r8sponsibl8 lor salègu8rding the ssse15 of the charity 8nd hence fc laklng rgasonabb steps for the pr&venUon And detection ol fraud and other irregularfties,
HENDON ADATH LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HENDON ADATH LIMITED I report lo the trustees on my &xaminatlon of the financlal slalemenls of HENDON ADATH LIMITED Ilhe charity) for the year ended 31 M8rch 2021. Rtrsponsibilitles and bas18 of rnport As tha Irustees of the charity land also ils dir8Ctors for the purposes of Company lawl you are responsible for the preparation ol the financial statements In 8¢cordance with the requ1MentS of the Compani8s Act 2006 Ilhe 2006 Act). Having sali8fi8d myself that the financial statements ol the ¢h8rily are not required to be audited under Part 16 of the 2006 Act and ar8 81iglble for in¢epend8nt examination, I report in respect of my ex8mln81ion of the charity's linanclal stJl8menls carried out under section 145 of th8 Charitiès Acl 2011 Ilhe 2011 Acll. In C8rrying out my examination I have followetj 011 the applicable DlreclK)n8 given by the Charity Commission und8r section 14515llbl ol thg 2011 ACL Ind•p•nd•nt •xamlnerfs stst•ment Sinc6 the chaiily's gross income exceeded £250,000 your exBmin6r musl be 8 member of a body listsd in sèction 145 of the 2011 Act. I confirm Ihat l Am qualillèd to undertake the 8xamSnation because l am member of , which is on& ol th8 lislad bodiès. I hav9 compl8led my examination. I confirrn that no matters h8ve come lo my 8118nllon in nneCtion wlth the examination giving me cause to believe that in any material respect.. 8ccounling record6 w8re rt kept In respect of Ihe charity as requir8d by 86ctlon 366 of the 2006 Act.. or th¢ Nn8n¢ial slalernents do not accord with th0 re¢ords,' or the financial $18lemen15 do not comply with the accounting r8quir8m8nts of soclK)n 396 01 the 2006 Act olher than any requir8m8nt that Ihe accounts glv$ a tru$ and 18Ir view which 15 not a matter conshlorod as part ol an ind8pendenl &xamination', or tho financlal 5tatem8n15 have not been pwpared in accordance with the m81hods and princlples ol the Statement ol Recommondod Practice for 8ccounlirrfJ and feporting by charitias appllcabla to charlties preparing I1r 8CCOUllts In a¢cordane8 wlth Ihe Financlal Rèporting Standard applicabl8 in the UK and Republic ol Ireland IFRS 1021. I have no conM$ ana h8ve come acr035 no other malters In connection wllh the ex8min8tlon lo whiL* attentlon should be dr8wn in this report in order to 8n8bl8 8 proper undersland5ng of the flnancial statements to be reached. Anthony Eplon BA FCA CTA FCIE Goldwins Limlt8d 75 Maygrov8 Road Wesl Hampslead London NW6 2EG 14 June 2021 Dated..
HENDON ADATH LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unrestrlcted Unrestricted funds fvnds 2021 2020 lftcom• from: Donatlons legacles Investment &rorne Other incom& 800,(K)O 39,870 7.145 Total In¢om? 846.815 Charitsble oCtivitie$ 20.112 13 Total •xp•nditur• 20,112 13 Net 5ncome1loxnd1tUrI> for th• y•arl Not movom•nt In lund• 826,703 1131 Fund balanc4s 811 Aprll 2020 1131 Fund balanc0• at 31 March 2021 826,690 1131 Th8 stslomanl ol flnancSal 8dvlll&s Includ&s 81198in8 8nd105888 r8cognls8d In the y&ar. All Incorne and expendllure dedve from ¢ondnulrrfJ 8dvllS98. The statemanl of finandal gclivllies also complles with thè requi ments foi an irKom8 and expendituro accounl und&r the Comp8nles Act 2006.
HENDON ADATH LIMITED BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Mot•s Flxed assets Inveslrnent property 10 950,000 950.000 Current a•s•t• Cash al bank and In hand 26.790 87 Cmdltor•.' amount¥ falllng du• wlthln on• yr 11 1150,1001 11CQI Nel current Ilabililles 1123,310 1131 Total a•B•t8 1088 curront Ilabllltl•$ 826,690 1131 Income fund• Unr•strict8d funds 826.690 1131 826,690 1131 The company Is entltled to tho 8X8mptlon from the audll requlromenl contslned Sn secllon 477 of the Compan183 Act 2006, for the year &nd6d 31 March 2021. The directCfB acknowledge their r8sp0n8lbl1lOs for ensurln9 that the charity k8&p8 8¢counllng r8cNd8 whld) comply with section 386 01 thè Act and lor preparing financial slaleTn8nts which give a Irue and lair view of th• 8tAt8 of aff8lrs of the wtnpany as at the end of the financial year and of its incomltYJ rèsourcas and applicatlon of resources. including Sls income and expendlture, for the flnanclal year In accor(lanco with the requir8menls of sections 394 and 395 and which oth¢1$& comply with the requirements of the Companies Act 20Cfj relating to flnanclal $t8tgmenls, so far 88 8ppli¢8ble lo the company. The member8 havè not r8quirèd the CpanY lo obtaln an 8udll ol Its finanual slalemenls for the year in qu8$tion In accordance wllh s8cllon 476. These flnanclal statements have been prepared in 8ccord8nc8 with th8 provlslons applicable lo companie8 Subject to the srnall COrnPBni85 raglme. IJ The financial 8talem8nlB were approved by the Trustees on ...... ...... z•¥i A M Jacobs Trustve Company Roglstratlon No. 11588871
HENDON ADATH LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Ca•h flows from oporatlng actlvltl•4 Cash (absorbed byygonaratgd from operations 13 112.9671 87 Inv•gtSng actlvlt5•9 Investment income received 39,670 14•t Cash g•n•rat•d fr¢mlluJJed In) Invosllng actlv5tle 39.670 cash usod In fln•n¢lng actlvltl Net Incr•aM In ca•h and ¢•¥h •qulv•l•nt• 26,703 87 Cash and eash equivalents al beginning ol year 87 Cash and cash •qulval•nt• at ond of yMr 26,790 87
HENDON ADATH LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accountlng poll¢l•$ Charlty Inforfflat5on HENDON ADATH LIMITED is a private cornpany Ilmited by guarant88 incorporalad in England and Wales. The registered office is 11 Brent Sl, Hendon, London, NW4 2EU. Unileil Kingdom. 1.1 Accountlng tonvontlon The financial slatam•nls hav• b88n pr8par8d In accordance wllh the charlty's Igoveming documentl, the Companies Acl 2006 and 'A¢UntIng 8nd Reporting by Charities.. Statement ol Recomrnended Practic pplicable to charities preparing their accounts Sn accordance with the Flnanci81 Reporting Slan(Jard applicable in the UK and Republic ol Ireland IFRS 1021 lefftsclive 1 January 20191" The charity is a Public Benefll Enllly as d911r by FRS 102. The fln8ncl81 stslement8 are prepar8sJ in slerfing, whith is the functional wrr8ncy ol tha charity. Monelary amunts In Ihè8e flnancial statements ar& roundad to thg n8ar9St £. Th8 Ilnancial statements have been prepored und&r the historical cost conventlon. modthed lo Include tho raduatIon ol Ifeghold properties and lo Include inve51menl properties 8nd certaln financlal In81ruments at 18ir vBlue. The princlp81 accounting policies adopted are set out below. 1.2 Golng concorn Al the lim6 01 approving the flnanclal stalemenls, the Iruslees have a raasonae 8xpectatlon Ihal lh& charity h85 adequate resources lo continue in operationBI exisl&nc8 lor thè loresÉe8ble future. Thus the trustee$ contSnue lo 8dopl the golng concern ba818 of accounllng In pr8p8rlng the financial st8lem8nts. 1.3 Chorltsbl• funds Unreslricled funds a av8118ble for use al the dlscrelion of the Iru5teey in furtherance of their charita9 obje¢live8. Restrfct&d funds ara sublact to sp8cWlc con0lllon8 by donor8 88 lo how thèy may be Lbsed. The purpos85 and uses ol the r881ricl8d funds ale sel out In the not88 to Ihe financ5al sialament8. Endowment funds ore 8ubjocl 10 8peclfic condltlons by donor8 that the capll81 mu81 bo rnalntained by the charlty. 1.4 Incom• Income is recognised when the charlty Is legally 8nllll8d to It after any p8rfomance condllk)n8 Thave bèen mel. the amounts can bè m8asured r8liably, and il is probable that inrxjme wlll be received. Cash donations ar8 feco9nisod on r8celpt. Other don811on8 8re reo)gnlsed onc8 the ch8flty ha8 been notmlgd ol the donation, unless performance conditions require delerral of the amount. Income tax recoverable in relation lo donations received under Gift Aid or deeds ol covenmnt is raccxJnis8d At thè time ol the donation. Leg8CI8S 8r8 legnIsed on receipt or otherwise il the charity has been nollfied of an impending dislribulion, the amount is known, and recelpt IS 8xp8cled. 11 tha amount Is not known, the le9acy is Irealed as a contingent ast.
HENDON ADATH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FQR THE YEAR ENDED 31 MARCH 2021 Accauntlng poll¢1•8 Icontlnuedl 1.S ExndItur0 Expenditur& is r8cognis8d onca th&rg is a 18gal or constructlvo obllgalSon to makg 8 paymgnl 10 8 thlrd paty. it is probable that seltl8m6nt will réquirèd and thè amount of Ihts obligation can be measured reli8bly. Expefjdilure is classified under the following activity headings.. Costs ol raising funds comprise ol cosis incurr8d by tha charitabla company in Induclng thlrd parties to mak8 voluntary conlributlons to it, as wo11 as th6 cost ol any 8clivllles witli a fundraising purpose. Expendilure on choritable actlvllles Includ88 the costs of delivering services undertaken lo fiJrth8r the purpos$8 of Ihe charfly and thebr 88SOCl8led 8LlPPOrt costs. Oth8r expenditure r8prgsants those Item8 not falling into 8ny other he8dlng. 1,6 Inv••tm•nt propertl•¥ Inv8stmant proparty, whlch is propèrty held to eam i&nlals andlor lor c8pllal appCIall0n, is Inllially recognised al cost, which include8 the purchase cn51 and any dSreclly attrlbulable expendllure. Subsequently it Is rneasured al fair value al th& reportlng 8nd date. The surplus or deficll on revaluallon Is recognisgd in prohl or los$. 1.7 CJ•h •nd coBh •qulvalents Cash and cash oquival8nts include cash In hand, dèposlts held 81 call wllh bank8, Other short-lem Ilquid investments with orlginal malurllies ol the months or les3, and bank ovefdraft8. Bank overdrafts are hown wblhln borrowings In current liabllltios. 8aslc Ilnanclal ass•t¥ Baslc llnancial assets, whlch InclLJd8 dabtors and cash 8nd bank b818nces, 8re Inlll8lly me88ured at transaction price incjuding transaction Costs and are subsequenuy carrled al amortlsed cost uslng the effective interest method unless the arrangernant constitutes a linanclng transaction, whore the transoctlon Is measured al the presenl v81ue ol tho futur& receipts dlscounle(l al a m8rkel rate of Interest. Financl81 ass818 cla88ilied as receivable within one year are not amort15ed. Bas1¢ finan¢lal Ilabllltl•$ Baslc financial liBbillti8s, Includlng cr8dllors and bank b8ns are inltially recognlsed at Iran88Ction price unloss the arrangement conslilul&s 8 financing Ir8n$aclion, where the debt instrument 18 measured al the present value of the future payments discounted al a market rale of Inlerest. Flnancial liabllitSes dasslfied as payabl6 withln one year are not amortised. Debt Inslrurnenls are 5ubsequenlly carried at amortlsed cost, u&ng the effeth've Interest rate melhod. Trad8 craditorg 8r8 obligations to pay for goods or services th81 have been 8cquired in the ordinary course of op9ralions from suppliets. Amounts payable are classifled as current liabilitles if payment Is due wilhln one year or18ss. 11 not, thay are present6d as non-current liabilitio$. Trade Groditgrs aro rewgnised inillalty at tr8nsaclSon pr5¢0 and subseouenly measured al amort188d co81 using the effective inlere8t method. Dere¢ognifvon of financial liabilities Financial liabilities are deTecognised when Ihe charity's contr8ctu81 obligations 8xpire or are dischargad or canc8118d.
HENDON ADATH LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Crltl¢al accounting tImate$ and judgements In the application of th8 Charity's accounting policies, the Iruslees are required to mak8 judgements, estimates 8rKI assumption5 about the carying amount of assets and liabilities that ar& nol rèadily appar&nl from othèr sources. Th8 estimates and asstxlated 8ssumplions are b88ed on historic81 experf8nce and other faclors that are considered to bè r8lèvant. Aetual results may differ frorn these estimates. Thé eslimales and undertying assumpllons are r8vwi*J on an ongoing basls. Revisions to 8¢eounllng estirnales are Cognised in the period in which th8 6stlmal& is révi$8d where the revision affects only that Period, or In the p&riod ol th8 rovision and fulufe periods wher8 th8 revision affects both current and lulure P8riods. Oonatlons and l•gaGI Unrestrlcled fund• Total 2021 2020 t)onalions and glfts 800,000 Thls r8prgS8nts tho inv8stmenl pr¢)perty al valuallon le88 the loan Iransl8Tfed from thg old gntity. Inv••lm•nt Incom• Unr••trl¢t•d fund# Tolal 2021 2020 Rental income 39,670 Oth•r Incom• Unreotrlcted fund• Total 2021 2020 Insurance proc88d8 from flood damage 7,145
HENDON ADATH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2021 Charitsblo activlties Charltable Charltable ExpondltureExp8ndltur• 2021 2020 Donations lo Hendon Adalh Yisroel Congregallon CIO 5,000 Share ol support ¢osls1s08 note 71 Share ol governance costs (sèè note 71 15,094 18 13 20,112 13 Support coit8 Support Gov•m•n¢• co•t• co•t8 2021 Support Governanc costs costs 2020 Insurance Managem8nt fees Property expons8s Sundry 686 2,380 12,028 688 2.380 12,028 13 13 13 13 Bank ¢harg8s 15.094 18 15.112 13 13 An8ly8ed betWn Charil8blg acllvilles 15,094 18 15,112 13 13 Tru$tee• None ol the trustges lor any persons Q)nnecled with thernl rec81v8d any r8munerallon or ben8flts from the charlty durlng the year. Employ••• Th8 charfty did not employ 8ny staff duriro the year. 10
HENDON ADATH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 10 Inv•8tm•nt prop•rty 2021 Falr valuo Al 1 April 2020 Net 9ains or losses through falr value adluslmenls 950.000 Al 31 March 2021 950.000 The lalr value of the investment propgrty has been 8rrived 81 on th& b8s1s of a v8lu81ion carried out In the rinan¢ial y&ar 2018 by chArt8rad surv8yor8, who are not connected with the charity. The valuation was made on an open rnarkel value basis by relerence to market evidence ol transoction prica8 for 9imilgr properties. 11 Cr•dltorn: •mount8 l•lllng du• wlthln on• y•ar 2021 2020 Other ¢r8dltors 150,100 100 12 R•lat•d party trthn•a¢tlon• There w8r8 no disclosabla rg101od paty Irangacllons durlrKJ the ye8r12020- nonel. 13 C•*h g•n•r•l•d from op•r•tlon• 2021 2020 Surpluslldeficlll for the year 826,703 1131 Adlugtm&nls for.. Investmgnt Incomg ro¢ognlsed in $181omenl ol financial a¢livilie8 Fair value galns and losses on Invgstmgnl property 139,6701 1950,1)001 Movements in working capital.. In¢ase in creditors 150,000 loo Cash lab8orbèd byyg•n•rot•d from oper8llons 112,9671 87