OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-10-31-accounts

COMPANY REGISTRATION NUMBER: 13692325 CHARITY REGISTRATION NUMBER: 1197961

BRID GARDENS

TRUSTEES' REPORT AND UNAUDITED ACCOUNTS

31 OCTOBER 2022

BRID GARDENS

BRID GARDENS COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS 31 OCTOBER 22

Pages
Trustees' Annual Report 2
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Accounts 7

Page 1

BRID GARDENS TRUSTEES ANNUAL REPORT

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the period ended 31 October 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 13692325

Charity No. 1197961

Principal and Registered Office

22 West Bank London N16 5DG

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law.

The following Directors and Trustees served during the year:

E Rothbart M Benedikt Y Z Sterngold

Accountants

Hirsh Accountants Limited 45 Stamford Hill London N16 5SR

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's objectives are to further those purposes both in the UK and overseas which are recognised as charitable under English Law.

The charity receives income from charitable donations and loan interest, which it utilises in the provision and distribution of grants and donations.

The charity's activity is principally, but not limited to, the provision and distribution of grants and donations to relieve those of the Jewish community, throughout the world, in need by reason of financial hardship, bereavement or other disadvantage.

ACHIEVEMENTS AND PERFORMANCE

During the year the charity pursued its philanthropic objects. Income from donations aggregated £484,644. Total resources expended was £3,969.

FINANCIAL REVIEW

Financial Position

The financial results of the charity for the year ended 31 October 2022 are fully reflected in the attached Financial Statements together with the Notes thereon.

Page 2

BRID GARDENS TRUSTEES ANNUAL REPORT

The charity did not engage in any activity during the year. In 2022 the charity's Statement of Financial Activities show a surplus of £480,675.

Reserves Policy

It is the policy of the charity to maintain Unrestricted Funds, which include 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 costs of the charity for the next year.

PLANS FOR FUTURE PERIODS

The future plans of the charity are to continue to support organisations and individuals for the relief of financial hardship, bereavement and other disadvantage amongst the Jewish community worldwide.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Charity is constituted as a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association.

New trustees are appointed based on personal competence, availability and knowledge and familiarity with the community which the charity serves. New trustees are inducted into the workings of the charity by the existing trustees.

The trustees administer the day-to-day affairs of the charity. None of the trustees have any beneficial interest in the charity.

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

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

Y Z Sterngold Trustee 17 July 2023

Page 3

BRID GARDENS INDEPENDENT EXAMINERS REPORT

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRID GARDENS

I report to the charity trustees on my examination of the financial statements of BRID GARDENS for the period ended 31 October 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the charity 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 financial statements 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

As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Association of Certified Chartered Accountants.

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

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 financial statements to be reached.

M Hirsh FCCA

Hirsh Accountants Limited

45 Stamford Hill London N16 5SR 17 July 2023

Page 4

BRID GARDENS STATEMENT OF FINANCIAL ACTIVITIES

FOR THE PERIOD ENDED 31 OCTOBER 2022

FOR THE PERIOD ENDED 31 OCTOBER 2022
Notes
Income and endowments from:
Donations and legacies
4
Total
Expenditure on:
Charitable activities
5
Other
Total
Net income
Net movement in funds
Reconciliation of funds:
Total funds carried forward		 Total funds
2022
£
484,644
484,644
1,800
2,169
3,969
480,675
480,675
480,675

Page 5

BRID GARDENS BALANCE SHEET

AS AT 31 OCTOBER 2022

Company No. 13692325 Notes 2022
£
Fixed assets
Investments 9 100
100
Current assets
Cash at bank and in hand 482,475
482,475
Creditors:Amount falling due within one year 10 (1,900)
Net current assets 480,575
Total net assets 480,675
The funds of the charity
Unrestricted funds
General funds 11 480,675
480,675
Total funds 12 480,675

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the period ended 31 October 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 17 October 2022

And signed on its behalf by:

Y Z Sterngold

Trustee

17 October 2022

Page 6

BRID GARDENS NOTES TO THE ACCOUNTS

FOR THE PERIOD ENDED 31 OCTOBER 2022

1 General Information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 22 West Bank, London, N16 5DG.

Statement of Compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Limited liability

In the event of a wind-up each member's liability is limited to £1.

2 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.

Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Page 7

BRID GARDENS NOTES TO THE ACCOUNTS

Income

Recognition of income Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.

Income with related Where income has related expenditure the income and related expenditure is reported gross
expenditure in the SoFA.
Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the the SoFA
when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the gift/donation to
donations and gifts which it relates.
Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot
expenditure be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on raising These comprise the costs associated with attracting voluntary income, fundraising trading
funds costs and investment management costs.
Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and services
charitable activities in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that
have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory
requirements of the Charity, including any audit/independent examination fees, costs linked
to the strategic management of the Charity, together with a share of other administration
costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, where applicable, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 8

BRID GARDENS NOTES TO THE ACCOUNTS

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

4 Income from donations and legacies

Donations
5
Expenditure on charitable activities
Governance costs
Accountancy Fees
6
Other expenditure
General administrative costs
Legal and professional costs
7
Net income before transfers
This is stated after charging:
Independent Examiner's fee		 Unrestricted
£
484,644
484,644
Unrestricted
£
1,800
1,800
Unrestricted
£
18
2,151
2,169
2022
£
1,800
1,800		 Total
2022
£
484,644
484,644
Total
2022
£
1,800
1,800
Total
2022
£
18
2,151
2,169

8 Trustee remuneration and expenses

None of the trustees have been paid any remuneration in the current or prior periods.

None of the trustees have been paid any expenses in the current or prior periods.

Page 9

BRID GARDENS NOTES TO THE ACCOUNTS

9 Investments

Cost or revaluation
At 20 October 2021
Additions
At 31 October 2022
Provisions and impairment
At 20 October 2021
At 31 October 2022
Net book values
At 31 October 2022
At 19 October 2021		 Total
£
-
100
100
-
-
100
-

Investment in Subsidiaries

The company has the following subsidiary undertakings:

Name of company
Country of
incorporation
(if not UK)
Class of
shares held
Brid Estates Limited		 % age of
shares held
Capital and
reserves at
end of the
relevant year
Profit/(loss)
for the
relevant
year
%
£
£
100
-
-
100
-
-

Brid Estates Limited was incorporated on 13 July 2022 and remained dormant during the year.

10 Creditors:

amounts falling due within one year

Amounts owed to group undertakings
Accruals		 2022
£
100
1,800
1,900

Page 10

BRID GARDENS NOTES TO THE ACCOUNTS

11 Movement in funds

11 Movement in funds
Restricted funds:
Unrestricted funds:
General funds
Total funds
12 Analysis of net assets between funds
Investments
Net current assets		 Incoming
resources
(including
other
gains/losses)
£
484,644
484,644		 Resources
expended
£
(3,969)
(3,969)
Unrestricted
funds
£
100
480,575
480,675		 At 31
October
2022
£
480,675
480,675
Total
£
100
480,575
480,675

13 Related party disclosures

Other than those mentioned above there are no related party transactions as require disclosure.

Page 11