harlty rogistration numb•r 1184204 ¢on¥>any regi$lYatlon nUMr 11568671 (England and W¥l•sl HENDON ADATH LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
HENDON ADATH LIMITED LEGAL AND ADMINISTRATIVE INFORMATION TN$tO951 Dirgctoff C 8 BTaUtle AA Guitentag A M Ja¢obs BNRowe D Segal S•cretary A M J8cobs Chorfty numbgr 1184204 Company nunknor 11568671 R•glstor•d office 11 Brent St. Hendon London United Kingdom NW4 2EU Indopond•nt ¢x*mln•r Anthony Eplon BA FCA CTA FCIE Goldwins Limited 75 MaygTov$ Road West Hampstead Londtsn 2EG
HENDON ADATH LIMITED CONTENTS Pag• Trustees. report statement of trustees. reswn$ibillii88 Independent examinerfs report Statement of ffinancAal athities Balance shaet Notes lo the financial 5tat8ments 6-10
HENDON ADATH LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Thè trustees wesent their annual report anil flnancial statements for the 4T &nded 31 March 2023. The finanaal statements have been prepared in ae¢ordance th9 accounliny poll¢lg5 sel out in note 1 to the financial stalements and comply wrth the charity5 governing do¢umènl, the Companies Act 20(6 and "Accounllng and Reporting by Charities.. Slalement of Rècommended Practice appIable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK 8nd Rapublic of Ireland IFRS 102) (effective 1 January 2019)" ObJ8ctlvo9 and actSvltl•¥ The charrty's objects are a(han¢ement ofthè orthodox Jewlsh faith. The trust•8s have paid due regard lo guidancè issued by the Charity Commission in deciding what adivrties the charity should undertake. Achievements and p•rforniance Financlal revlew 11 is thé policy of the charity that unrestricted funds which have not been designaled for a $pe¢ffic use should bo maintained al a level equivalent lo belwe¥n three and six month's en(rrture. The tru$lees consider that reserves at this level will ensuw that, in the evenl ol a significanl drop in funding, thèy will be able lo continue the carity's current tIvitIeS whil8 consJeration is given lo ways in which additional lunds may be raised. Thi8 level of reseryes has been maintained throughout the year. The trusteés have assessed th$ major risks to which the charity is èxposed. and are $#li$fd that systems are in place to mib'galè èxposure lo the m8jtsr risk$. Strucbjro. govoman¢• and manag•m•nt The charity is a Company limited by guarant88, gOrned by ts M¢mor8ndum and Articles ofA$slatIOn dated 14 Seplernber2018. Th¥ tru$t8es. who are dso thè dirèctors for the purpose ol MpanY law, and who ser¥8d thjring the year and up to the de of signature ofthe finanual statements were.. C B Braude AA Guttenlag A M Jacobs BNRowe D Segal None of the trusteès has any benefrcial interest in the ¢ompany. All of the trustees ar* members of the company and guarantee to contsibute £1 in the event of a windbng up. The Iru$t¢¢s' report was approved by tho Board of Trustee8. A M Jacobs Trustee
HENDON ADATH UMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023 The trustees, who are also Ihe diroctors of Hendon Ad8lh Limited for the purpose of company18w, are responsible for preparing th8 Twslees. Report and the finanu81 statèments in accordan¢e with applicabie law and United Kingdom Accounting Standards Iunited Kingdom GenerallyA¢¢eptad Accounting Pracllcg). Company Law requiras the Irustees to prep¥M fmancAal statements for ea¢h financial year whid) give a true and falr view of Ihe slate of aff8ir$ of the charity and of Ihg incoming resources and appliOn of resources. including the Income and expenditure. of the ¢haritable comp8ny for that year. In preparing these financlal slalements. the trustees are fgquirod lo.. - 8eknt $urtabl& accounting policies and then OPFdy them consislenlly- - observe the methods and princieS in the Chanlies SORP- - make juthjemenls and estimat0$ that are rea$on8ble and prudent- slate whether applicable UK A¢¢ounting Standards havg been followed. subject to any rn8lerial departure5 di5doseil and plaIned in the ffinanci81 slat8ments.' and prepaie tho financial statements on the going concem b4$i$ unless it is inappropriate lo presume that the th8rity will ntInUe in 0ration. The trustees are re5pon$ibb for keeping #dequate accounting re¢oTds Ihot disclose with reasonable accuracy at any lime the financial posth.on of the charity and enablè them to ensure that the ffinancial statements comply with the Companies Act 2006. They a also responsible foi saf¥guarding the assets of th8 charity and hence for laking reasonabl• steps for Ihe pvÈnts.0n and detection of fraud and other iThegularilies.
HENDON ADATH LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HENDON ADATH LIMITED I rewrt lo the Iwstees on my exainin81ion of Ihe financial statements of H8ndon Adalh Limiled (the charity} for the year ended 31 MarGh 2023. Responslbllltles and basis of r•port As the Iwslees of the ¢harity land also ts diiectors for the purposes of company law) you are responsible for the preparation of the finanual slalements in a¢¢ordanc8 with the requiremènts of the Companies A¢t 2006 {the Act). Having satisfied mysglf that the financial statèments of the charity are not required to be audited under Part 16 ol the 2006 Act and are eligible for indepondenl examination, I report in respect of my examination of the charity's financial slalemenls earried out under section 145 of Ihe Charrties Aet 2011 {the 2011 Act). In carying out my examination I havè followed all the applicable Directions gven by the Charty Commission under section 14515)Ibl of the 2011 Act. Independènt examin•ffg gtatsment I hav8 completed my ex8min8tion. I confimi Ihat no matters have come lo my attenllon in wnectior) wtth the examination giving me caus8 to beliève that in any material respect.. accounting reojrds were not kept in respect of the charity as required by 8ection 386 of the 2006 Act or the finan¢ial statements do not accord with those records-, or the finan¢ial $lalements do not compty wrfh the accounting requir8mgnts of section 398 of the 2006 Act other Ihw any requirement that the a¢count$ give a true and fair viw which is not a matter Gonsidered 86 t of an independent examination,. or the finala1 stalements have not prepared in accordance with the methods anil prinGiples of the Stalemer)l of Recommended Practice foi aoUntIng and rèporting by charities appli¢able to charities 8ring thèir acc£Junts in accixdan¢& with the FinanrAal Reporting Standard applicable in the UK and Republic ol loland IFRS 1021. I hava no cOrern5 and have comè aCsS no other matters in cLnneclion wth thè examination lo whiGh 8tt&nlion should be drawn in this rèport in order to enable a proper understanding of the finand StatemlS lo be reached. Amlhony Epton Goldwins Limited 75 Maygrove Road sl Hamp$lead London 2EG FCA TA FCIE Dated..17 July.2023
HENDON ADATH LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unre$lrf¢ted Unre51ricted lunds funds 2023 2022 Investsn8nt income 41.497 39,121 ndltu Charitable activititrs 42,643 23,944 Total •xpendltur• 42,643 23.944 Net loxpgnditsrnKin¢om• for th• yearl N•t nbw•mont In funds (1.146) 15,177 Fund balonces at 1 ApMI 2022 841.887 826,690 Fund balancvJ at 31 March 2023 840,n1 841,867 The $18lemenl of finanrAal aclwiti¢s in¢lud&s all gain5 ar lo$ses recognised Sn the yeai. All Inccffie and expendhurg d9Tive from ¢onllnulng acti¥iti8s. The $latemenl of financAal altleS also complle6 th the requirements fcrf an income and expènditure account under the Companies Act 20(.
HENDON ADATH LIMITED BALANCE SHEET AS AT31 MARCH 2023 2023 2022 Fix•d ass•ts Investment Fyoperty 950.000 950,000 950,000 950.000 Currnnt a88•ts Cash at bank 8nd in hand 41,967 41,967 Cr•dllovs: amounts falllng due wlthln one year 10 {151.248) {150,1CK]I Nel current &abilitie8 (109,279) 1108,133) Total ass•ls less CUnEnt liabllM•s 840,721 841.867 Income fund$ Unrestricted funds 840.721 841,867 840.721 841,867 The mpaThy is entitled to thè exemption from the audit requirement contained in sethon 477 of the Companies Ad 2006, for the year oniled 31 March 2023. The directors acknowledge thelr responsibilities for complying with the requirernenl$ of the Companie$ Acl 2006 with respect lo accounting records and the preparation offinanc481 slalements. Th& members have not required the company to obtsin an audit of fts IlnanLi31 statements for thg year in question In acwdance wf(h sec*ton 476. These financial stslements have been prepared in accordance with Ihg provisions appli¢abla to companies subject lo the small companies regime. finanaal sLitemenls were approv•d by the Trustees on ............... ......... A M Jacobs Trustee C4)mpany R•gi#trdtlon No. 11568671
HENDON ADATH LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accowlng pollcl•• Charfty Infommtlon Hgndon Adath mrted i% a private company limited by guarantee incorporated in England arwj Wales. The registered offico is 11 Brent Sl, Hendon. LorHlon, NW4 2EU. Unrted Kingdom. 1.1 Accounting Conventlon The financial statements have been prepared in a¢¢ord8nc8 with the ch#rfty'$ lgoveming docum&ntl, the Companies Aci 2006. FRS 102 "The Finanaal Reporting Stsndaré applicable in the UK and Republic of Ireland. I'FRS 102.1 and the Charities SORP 'Accounling and Reporting by Charitses.. Stalem&nt of Recommended Practice applicablt lo ¢haritiès preparing their 8¢¢ounts in accordan¢& with the Finantyal Reporting Standard ¥pplicabk8 in the UK and Rèpublic of Ireland IFRS 102)" (effective 1 January 20191. The c4)arity is a Public Benefft Entity as defined by FRS 102. The finan¢ial statèmènts are prepar in slethng, whh Is tr¢ functional trjrfency of the ch¥rty. Mon8lary amounts in thèse financial statements are rounded lo the nearest £. The financial staleThenl$ have been preparèd under the historical cost conV9nt. modlfied lo indude the revaluation of investment prOpeaS at fair value. The prinupal accoun1ing policies adopted aro set oui below. 1.2 Going c¢>n¢•m Al the time of appmving the fitiancAal slalemenls, the trustees have a ieasonable expectation Ihal th& chaiity has du3¢8 resources lo continue in operational existen¢& for the foreseèable future. Thus the trustees continue to adopt th8 going con¢ém basis of accounting in preparing the financial stslements. 1J Ch•rlt•bl• funds Unrestricted funds are avallable for use at the dls¢rgtJn of the trustees in furtheran of their charitable cl)je¢tNe$. Restricted funds are subje¢t to specific conilions by donors as lo how they may be used. The purposes and $ ol th& restricted funds ar8 set out in the notes lo the nancIal 8tal•menls. Endowment lunds aro subj'ect to specific coNJrfI'ons by donors that tho capital musl be malntained by the ¢harity. 1A Incom• Income is recognised when th¢ ¢h8rity is legally enlrkd to il after any performane¢ cond09 have been met. the amount$ ¢an be measured reliably. and rt is probat4e Ihat income will be re(lved. Cash dOn?on$ aro recognis¢d on raceipt. Other doftations are recognised once the chanty has bgen notifd of the donation, unless performan¢e ¢ondrtions requiro d&feThal of the amount. Income tax ra¢0rabIa in relation lo donations received under Gift AJ or deeds of eov8nant is reCgniSed at the time of the donaty'on. Le98¢i¢s are recognised on roceipt or otherwise if the charfty has been nofjfie¢ of an impending distrljution. the afflounl 1$ known, and receipt 1$ gxpected. If the amounl is not knLw4n, the legacy is treated as contingent as$&t
HENDON ADATH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 A¢¢oynllng pollcle Icontlnu•dl 1ts Expendlthr• Expenditure is recognised once there 1$ a legal or constructive obfv'gation to make a payment to a third party. il is probable that setdemenl wll be required and the amount of the obligation can be measured reliabty. Expenditure 1$ dassified under the following activity headings.. Costs of raising funds comprise of costs inCued by the tharilabl& ¢ompany in inducing third parties to make volunl8ry contributions lo it, as well a$ the cost of any activtkne$ with a fvndralsing purpose. Expenditure on tharitabl8 actiMti&s include8 thg ¢osts of delivering services undertaken lo fvrther the purposès of the charity and Ihair associated 3UPPOrt ¢08ts. Other expenditure represents those itoms not falling into any other heading. 1.6 Inve¥lJn•nt prop•ty Investment property, whkh Is wopety held lo eam rentals andlor for capital appreaalion. is initially recognised at cosl, which includes Ihe purchase cost and any direclty attributable expanditure. Subsequently it is measured at fair value at the rèporting end date. The surplu$ or defiut on Tevaluation is Tewgnised In profil tr loss. 1.7 C•*h and Cash •quiYalents Cash and cash equiv8lenl$ indude cash in hand. deposrts held at call with banks, other short-lenn Ilquld nvestments with original matuwities of three months or less. Ond bank overdrafts. Bank overdrafts are shown within borrthwngs in current liabilities. Baslc Iln•n¢l41 •s$8ts Basic financial assels. which in¢ludo debtors and cash and bank balances. are initially meaSUd at transaction pri¢e in¢luding transaction costs and are SLbb$equenlty carried al amorbsed c4)st using the effective interest rnÈlho(l unless the arrangement ¢onstitutes a financing tr8nsathon, where the transadion is measured al the present value of the future r¢¢eipls discounted at a rnathel rate of interest. Finan assets dassified as receivable within one year are not amortlsed. 8a$l¢ Ilnanelal Ilabiliti Basic financial liabilities, induding creditors and bank loans are inrtialty recogni$èd at tfansadion pdce unless th8 arrangement constilules a financAng Iransaclion, where the debt in8lrument is maasured al the present value of the future payments discounted at a market iale of int8r8st. FinanrAal liabilities dassified as payable wthin one year are not amortised. Debt instruments are subsequ•nlly ¢arried at anNYtised cost, using the effective interest rate method. Trade creditors aro obligations to pay for 9oods gr services Ihal have been acquired in the ordinary course of operations from suppliers. Amounts p8yable are ejassffied as current li8bililies if payment is due within one year or less. If not. Ihey are presented as non-current liabilrties. Trade creditors are recognisèd inilialty al transaction Fxice and subsoqu•nlty measured * arnO.$6d cost using the off1Ve interest method. D•r•¢ognltlon of IlnancialllabRIII8$ Financial liabilities ara derecognised when Ihg chariiy's CntractUal obli9alion$ expire or are discharged or cancelled. 1.8 Employ•e benefits The o)si of any unu¥od holiday entitlement is re(y)gnisgd in the period in whith th¥ employee's seryi¢99 are r¢¢eiv•d. Termination beneffts are recognised immediately as an ense when the charity Is demonstrably ¢ommittod to lemiinale the employment of an employee or lo provide termination bgneffts.
HENDON ADATH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 CrlU¢al accountlng e8tim•ts¥ •ndJudgem&nts In the appllcath)n of the charity's accountlng policies. the tru51ees are requlrgd to make judgernents, estimates and assurrtptions about the carrying amount of assets and liabilities that arè not readity apparent from other sourc8s. The eslim8tes and aSSOCAated assumptions are based on historical experience and olheT factors that are corldered to be relevant. Actual SUltS may diffei from thgse estirnale5. The estbmates and underfying as8umpts.ons are rewewed on an ongoing basis. Revisions lo accounting estirnales are recognised in Ihe period in whi¢h the estimate 15 iewsed where the revision affeeAs only that period. or in the period of the revision an(J future pedods where the revision affects both current and fulure periods. Invlm•t Income Unro8trl¢ted Unr•$tslct•d fLrnd$ lund$ 2023 2022 Rental income 41.497 39,121 Charil•bh a¢tivitieJ Charitable Charitsbl• Expènditure ExndIture 2023 2022 DonalKJns to Hendon Adath Ylsroel Congregation CIO 38.500 20,000 Share of support ¢osls {see note 51 Share of govemaneè costs (see note 51 4,120 23 280 42.643 23,944
HENDON ADATH LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2023 Support Costs SupportGovgrnanc• Total 2023 eosts SupportGovern8nce Total 2022 costs C051$ Insurance Managemenl fees Property expenses Sundry 1.148 2,490 1,146 2.490 484 13 520 2,347 797 520 2.347 797 13 13 L8gal and professional Bank charges 10 10 4.120 23 4,143 3,664 280 Analyseil betsyeen Charitsble activrties 4.120 23 4.143 280 Trustees None of the trustees {OT any persons connected wrth them) T¢d any remuneration or b8nefts from the thartty dIng th8 yar. EmployM8 The tharily did not employ any staff during the year. Taxalon The charitable company 1$ x8mpt from corporation tax as all its ino)me Is chaviiable and Is applied for Charitable pu$se8. Invo•lm•nt prop•rty 2023 Falrvaluo Al 1 April 2022 31 March 2023 950.000 The fair value of Ihe investment property has been arrived al on the ba$ls of a valuatlon carried out in the ffinancial year 2018 by ¢hartered suvveyors, who ar8 not connected wrth the charity. The valuation was made on an open marftet value basis by r8ference 1¢ market evidence of trans8dlon wices for $Smllar properttes and the trustees confim this is the current fair walue.
HENDON ADATH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 10 Creditorn: amounts falliw dug within yr 2023 2022 Oth8r cr8dilors 151.246 150.100 11 R•latsd party transaetions During the year the charity made a donation of £38,5CKI 12022: £20,000) to Hendon Adath Yisroel Congregation CIO, a conn&¢led charity. -10-