**REGISTERED COMPANY NUMBER: 11893636 (England and Wales) REGISTERED CHARITY NUMBER: 1186963** **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **FOR** ## **MOWBRAY BUILDINGS LTD** Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL **MOWBRAY BUILDINGS LTD** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Statement of Financial Position**|5|to|6| |**Statement of Cash Flows**||7|| |**Notes to the Statement of Cash Flows**||8|| |**Notes to the Financial Statements**|9|to|13| **MOWBRAY BUILDINGS LTD** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** 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 March 2022. 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). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The principal activities of the charitable company in the year under review were that of the advancement of education and religious practice in accordance with the teachings of the Orthodox Jewish faith,and the relief of poverty. The financial results of the Charitable Company's activities for the year ended 31 March 2022 are fully reflected in the attached financial statements together with the notes thereon. ## **Significant activities** Mowbray buildings have embarked on an ambitious rebuild of the Tashbar school site to be able to house 400 children with a new state-of-the-art building incorporating an assembly dining hall. This will greatly enhance the value of the property and will be a tremendous asset for the charity. Additionally, we are working on purchasing another site which will be able to house the sister school of Tashbar which is currently housed on the Mowbray Road site. ## **Public benefit** The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aim and objectives and in planning the charity's future activities. The aims of the charitable company for the public benefit are detailed in the Objectives and Activities section of the report. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The charity received generous donations during the period that amounted to £646,631 (2021: £60,800). ## **Investment performance** The investment income received during the period was income specifically in the form of rent from the investment property. Rental income received during the period under review amounted to £120,000 (2021: £120,000). ## **FINANCIAL REVIEW** ## **Reserves policy** It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year. ## **Going concern** The trustees are confident that the charity will be able to continue operating for the forseeable future. ## **FUTURE PLANS** The trustees intend to continue to pursue its objects, and continue its activities, as outlined above, for the foreseeable future. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 20 March 2019. ## **Recruitment and appointment of new trustees** The power to appoint new trustees vests with the current board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures Page 1 **MOWBRAY BUILDINGS LTD** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 11893636 (England and Wales) ## **Registered Charity number** 1186963 ## **Registered office** 8 Broadhurst Avenue Edgware Middlesex HA8 8TR ## **Trustees** J Bamberger Company Director M Cohen Company Director T Grosskopf Sales Director P Adler ## **Independent Examiner** Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL Approved by order of the board of trustees on 13 January 2023 and signed on its behalf by: J Bamberger - Trustee Page 2 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MOWBRAY BUILDINGS LTD** ## **Independent examiner's report to the trustees of Mowbray Buildings Ltd ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of A.C.A which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. M A Venitt A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL 13 January 2023 Page 3 ## **MOWBRAY BUILDINGS LTD** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Investment income
3
**Total**
**EXPENDITURE ON**
Raising funds
4
**Charitable activities**
5
Charitable activities
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|31.3.22
Unrestricted
fund
£
646,631
120,000
766,631
29,183
7,093
959
37,235
729,396
444,485
1,173,881|31.3.21
Total
funds
£
60,800
120,000| |---|---|---| |||180,800| |||29,218
-
794| |||30,012| |||150,788
293,697| |||444,485| The notes form part of these financial statements Page 4 ## **MOWBRAY BUILDINGS LTD** ## **STATEMENT OF FINANCIAL POSITION 31 MARCH 2022** |Notes
**FIXED ASSETS**
Investment property
9
**CURRENT ASSETS**
Debtors
10
Cash at bank
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
12
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
**TOTAL FUNDS**|31.3.22
Unrestricted
fund
£
1,428,205
161,000
593,338
754,338
(55,626)
698,712
2,126,917
(953,036)
1,173,881
1,173,881
1,173,881|31.3.21
Total
funds
£
1,331,785
-
163,341
163,341
(55,505)
107,836
1,439,621
(995,136)
444,485
444,485
444,485| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 5 continued... **MOWBRAY BUILDINGS LTD** ## **STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2022** 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 13 January 2023 and were signed on its behalf by: J Bamberger - Trustee M Cohen - Trustee The notes form part of these financial statements Page 6 ## **MOWBRAY BUILDINGS LTD** ## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of investment property
Net cash (used in)/provided by investing activities
**Cash flows from financing activities**
Loan repayments in year
Net cash used in financing 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**|31.3.22
£
594,550
(26,033)
568,517
(96,420)
(96,420)
(42,100)
(42,100)
429,997
163,341
593,338|31.3.21
£
176,943
(26,155)
150,788
-
-
(22,403)
(22,403)
128,385
34,956
163,341| |---|---|---| The notes form part of these financial statements Page 7 ## **MOWBRAY BUILDINGS LTD** ## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022** |**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**| |---|---|---|---| |||31.3.22|31.3.21| |||£|£| ||**Net income for the reporting period (as per the Statement of Financial**||| ||**Activities)**|729,396|150,788| ||**Adjustments for:**||| ||Interest paid|26,033|26,155| ||Increase in debtors|(161,000)|-| ||Increase in creditors|121|-| ||**Net cash provided by operations**|594,550|176,943| 2. **ANALYSIS OF CHANGES IN NET DEBT** ||At 1.4.21|Cash flow|At 31.3.22| |---|---|---|---| ||£|£|£| |**Net cash**|||| |Cash at bank|163,341|429,997|593,338| ||163,341|429,997|593,338| |**Debt**|||| |Debts falling due after 1 year|(995,136)|42,100|(953,036)| ||(995,136)|42,100|(953,036)| |**Total**|(831,795)|472,097|(359,698)| The notes form part of these financial statements Page 8 **MOWBRAY BUILDINGS LTD** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Investment property** Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. DONATIONS AND LEGACIES** |Donations
**3.**
**INVESTMENT INCOME**
Rents received|31.3.22
£
646,631
31.3.22
£
120,000|31.3.21
£
60,800| |---|---|---| |||31.3.21
£
120,000| continued... Page 9 **MOWBRAY BUILDINGS LTD** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **4. RAISING FUNDS** ## **Investment management costs** |**Investment management costs**|||| |---|---|---|---| |||31.3.22|31.3.21| |||£|£| |Insurance||3,150|3,063| |Interest payable and similar charges||26,033|26,155| |||29,183|29,218| |**CHARITABLE ACTIVITIES COSTS**|||| ||||Direct| ||||Costs| ||||£| |Charitable activities|||7,093| |**SUPPORT COSTS**|||| |||Governance|| ||Finance|costs|Totals| ||£|£|£| |Other resources expended|119|840|959| ## **5. CHARITABLE ACTIVITIES COSTS** ## **6. SUPPORT COSTS** ## **7. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||Unrestricted| |---|---| ||fund| ||£| |**INCOME AND ENDOWMENTS FROM**|| |Donations and legacies|60,800| |Investment income|120,000| |**Total**|180,800| |**EXPENDITURE ON**|| |Raising funds|29,218| |Other|794| |**Total**|30,012| |**NET INCOME**|150,788| continued... Page 10 ## **MOWBRAY BUILDINGS LTD** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** |**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**9.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1 April 2021
Additions
At 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.3.22
£
Prepayments
161,000
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.3.22
£
Other creditors
54,786
Accrued expenses
840
55,626|Unrestricted
fund
£
293,697
444,485
£
1,331,785
96,420
1,428,205
1,428,205
1,331,785
31.3.21
£
-
31.3.21
£
54,785
720
55,505| |---|---| ||| continued... Page 11 **MOWBRAY BUILDINGS LTD** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** |**12.**|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE**|**THAN ONE YEAR**||| |---|---|---|---|---| ||||31.3.22|31.3.21| ||||£|£| ||Bank loans (see note 13)||953,036|995,136| |**13.**|**LOANS**|||| ||An analysis of the maturity of loans is given below:|||| ||||31.3.22|31.3.21| ||||£|£| ||Amounts falling due in more than five years:|||| ||Repayable by instalments:|||| ||Bank loans more 5 yr by instal||953,036|995,136| |**14.**|**MOVEMENT IN FUNDS**|||| ||||Net|| ||||movement|At| |||At 1.4.21|in funds|31.3.22| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|444,485|729,396|1,173,881| ||**TOTAL FUNDS**|444,485|729,396|1,173,881| ||Net movement in funds, included in the above are as follows:|||| |||Incoming|Resources|Movement| |||resources|expended|in funds| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|766,631|(37,235)|729,396| ||**TOTAL FUNDS**|766,631|(37,235)|729,396| ||**Comparatives for movement in funds**|||| ||||Net|| ||||movement|At| |||At 1.4.20|in funds|31.3.21| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|293,697|150,788|444,485| ||**TOTAL FUNDS**|293,697|150,788|444,485| continued... Page 12 **MOWBRAY BUILDINGS LTD** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **14. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
180,800
180,800|Resources
Movement
expended
in funds
£
£
(30,012)
150,788
(30,012)
150,788|Resources
Movement
expended
in funds
£
£
(30,012)
150,788
(30,012)
150,788| |---|---|---|---| ||||150,788| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.4.20
£
293,697
293,697|Net
movement
At
in funds
31.3.22
£
£
880,184
1,173,881
880,184
1,173,881| |---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
947,431
947,431|Resources
Movement
expended
in funds
£
£
(67,247)
880,184
(67,247)
880,184|Resources
Movement
expended
in funds
£
£
(67,247)
880,184
(67,247)
880,184| |---|---|---|---| ||||880,184| ## **15. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2022. Page 13