Company registration number: 14173480 Charity registration number: 1204047
SPICE UP LTD TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 AUGUST 2025
Spice Up Ltd Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2—3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities (including Income and Expenditure Account) | 5 |
| Statement of Financial Position | 6 |
| Notes to the Financial Statements | 7—11 |
Spice Up Ltd Reference and Administrative Details For The Year Ended 30 August 2025
Trustees Yoel Berkovits - Chair Rivka Gluck Michael Schwartz Charity Number 1204047 Company Number 14173480 Registered Office Flat A, 118 Osbaldeston Road London N16 6NJ Independent Examiner C Weberman Weberman Ltd 44 Fairholt Road London N16 5HW
Page 1
Spice Up Ltd Company No. 14173480 Trustees' Report For The Year Ended 30 August 2025
The trustees present their report and the financial statements for the year ended 30 August 2025.
Objectives and Activities
Aims and Objectives
The charity aims to relieve the needs of disadvantaged young people and to improve their life prospects through:
(a) The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life;
(b) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
(c) To further such charitable purposes as the trustees see fit from time to time.
Public Benefit
The main activities undertaken to further the charity's purposes for public benefit are detailed within the accompanying notes to the financial statements.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit, as well as obligations under the Equalities Act 2010. The trustees are satisfied that they have met their obligations.
Achievements and Performance
Main Achievements
The charity is dependent on income from voluntary donations and grants. Total incoming resources during the year were £129,158 (2024: £40,390.) Expenditure amounted to £51,354 (2024: £29,299.)
Financial Review
Reserves Policy
The charity's policy is to maintain reserves equivalent to at least 3 months of core running costs. This level of reserves is intended to provide financial stability, ensuring that the charity can continue its essential operations in the event of unexpected funding shortfalls or unforeseen expenses. This level of reserves has been maintained throughout the year. The Reserves Policy is reviewed annually to ensure it remains appropriate for the charity's needs and circumstances.
Structure, Governance and Management
Governing Document
The charity is controlled by its governing document, its memorandum and articles of association, incorporated 15 June 2022, as amended by special resolution on 18 July 2023, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Trustee Selection Methods
The trustees who served during the year and up to the date of signature of the financial statements were: Yoel Berkovits- Chair
Michael Schwartz Rivka Gluck
The day to day affairs of the Charity are administered by the Board of Trustees. It is not currently the intention of the Trustees of the Charity to appoint new trustees. Should the situation change in the future, the Trustees will apply suitable recruitment and training procedures. None of the trustees has any beneficial interest in the charity.
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Spice Up Ltd Trustees' Report (continued) For The Year Ended 30 August 2025
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Yoel Berkovits Trustee 10/04/2026
Page 3
Spice Up Ltd Independent Examiner's Report to the Trustees of Spice Up Ltd For The Year Ended 30 August 2025
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 August 2025.
Responsibilities and Basis of Report
As the charity 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
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 Company as required by section 386 of the 2006 Act; or 2. 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 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.
C Weberman Weberman Ltd
44 Fairholt Road London N16 5HW
26/04/2026
Page 4
Spice Up Ltd Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 30 August 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 4 EXPENDITURE ON: Raising funds 5 Charitable activities: 5 Charitable Activities NET INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 13 The notes on pages 7 to 11 form part of these financial statements. |
2025 Unrestricted funds £ 129,158 |
2024 Unrestricted funds £ 40,390 |
|---|---|---|
| (500 ) (50,854 ) |
- (29,299 ) |
|
| (51,354 ) | (29,299 ) | |
| 77,804 | 11,091 | |
| 77,804 15,941 |
11,091 4,850 |
|
| 93,745 | 15,941 | |
Page 5
Spice Up Ltd Statement of Financial Position As At 30 August 2025
| Notes CURRENT ASSETS Debtors 11 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 12 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY Unrestricted Funds TOTAL FUNDS 13 |
2025 Unrestricted funds £ 365 96,135 |
2024 Total funds £ - 16,841 |
|---|---|---|
| 96,500 (2,755 ) |
16,841 (900 ) |
|
| 93,745 | 15,941 |
|
| 93,745 | 15,941 |
|
| 93,745 | 15,941 |
|
| 93,745 | 15,941 | |
| 93,745 | 15,941 |
For the year ending 30 August 2025 the charitable company was entitled to exemption from audit 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 trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of trustees on 10 April 2026 and were signed on its behalf by:
Yoel Berkovits Trustee
The notes on pages 7 to 11 form part of these financial statements.
Page 6
Spice Up Ltd Notes to the Financial Statements For The Year Ended 30 August 2025
1. General Information
Spice Up Ltd is a company limited by guarantee, incorporated in England & Wales, registered number 14173480 and registered charity number 1204047 . The registered office is Flat A, 118 Osbaldeston Road, London, N16 6NJ.
2. Statement of Compliance
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)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
3. Accounting Policies
3.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP ""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 charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
3.2. Going Concern Disclosure
The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charitable company's ability to continue as a going concern.
3.3. Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.
Restricted funds are to be used for specific purposes as laid down by the donor.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
3.4. Incoming Resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 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. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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Spice Up Ltd Notes to the Financial Statements (continued) For The Year Ended 30 August 2025
3.5. Resources Expended
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 are allocated on the portion of the asset’s use.
3.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other shortterm highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3.7. Taxation
The charity is exempt from tax as all its income is charitable and applied for charitable purposes.
3.8. Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows.
4. Income from Donations and Legacies
| . Income from Donations and Legacies | ||
|---|---|---|
| 2025 | 2024 | |
| Unrestricted | Total | |
| funds | funds | |
| £ | £ | |
| Donations and gifts | 129,158 | 40,390 |
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Spice Up Ltd Notes to the Financial Statements (continued) For The Year Ended 30 August 2025
5. Analysis of Expenditure
| Raising funds Charitable Activities Charitable Activities 6. Direct Costs Activities: Career Guidance and Skills Training Self Awareness Program and Mentoring Community Outreach Event Cultural and Heritage Exhibition Cultural Travel Program Youth Hub Sports Project Teamwork and leadership project Fundraising Costs Activities: Career Guidance and Skills Training Self Awareness Program and Mentoring Community Outreach Event |
Activities undertaken directly (see note6) £ 500 35,284 |
Grant funding of activities (see note7) £ - 12,000 |
Support costs (see note8) £ - 3,570 |
2025 Total £ 500 50,854 51,354 2024 Total £ 29,299 2025 Total £ 7,289 1,282 2,860 1,051 11,758 4,064 1,189 5,791 500 35,784 2024 Charitable Activities £ 2,256 5,663 4,228 ...CONTINUED |
|---|---|---|---|---|
| 35,784 | 12,000 |
3,570 |
||
| Activities undertaken directly (see note6) £ 25,692 |
Grant funding of activities (see note7) £ 2,000 |
Support costs (see note8) £ 1,607 |
||
| Raising funds £ - - - - - - - - 500 |
Charitable Activities £ 7,289 1,282 2,860 1,051 11,758 4,064 1,189 5,791 - |
|||
| 500 | 35,284 |
|||
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Spice Up Ltd Notes to the Financial Statements (continued) For The Year Ended 30 August 2025
| Educational and Experiential Retreat Cultural and Heritage Exhibition Cultural Travel Program 7. Grants Payable Charitable Activities Charitable Activities 8. Support Costs Employee costs General administration Governance costs General administration Governance costs 9. Independent Examiner's Remuneration Independent examination of the financial statements 10. Average Number of Employees Average number of employees during the year was: NIL (2024: NIL) |
Grants to Institutions £ 10,000 |
Grants to Institutions £ 10,000 |
Grants to Individuals £ 2,000 |
7,200 4,450 1,895 |
|---|---|---|---|---|
| 25,692 | ||||
| 2025 Total £ 12,000 |
||||
| Grants to Institutions £ - |
Grants to Individuals £ 2,000 |
2024 Total £ 2,000 |
||
| 2025 £ 1,200 |
2025 Charitable Activities £ 124 1,041 2,405 |
|||
| 3,570 | ||||
| 2024 Charitable Activities £ 265 1,342 |
||||
| 1,607 | ||||
| 2024 £ 900 |
||||
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Spice Up Ltd Notes to the Financial Statements (continued) For The Year Ended 30 August 2025
11. Debtors
| Due within one year Other debtors 12. Creditors: Amounts Falling Due Within One Year Trade creditors Accruals and deferred income 13. Movement in Funds Unrestricted funds General: General unrestricted fund Total funds Unrestricted funds General: General unrestricted fund Total funds |
As at 31 August 2024 £ 15,941 |
Income £ 129,158 |
2025 £ 365 2025 £ 1,555 1,200 2,755 Expenditure £ (51,354 ) |
2024 £ - |
|
|---|---|---|---|---|---|
| 2024 £ - 900 |
|||||
| 900 | |||||
| As at 30 August 2025 £ 93,745 |
|||||
| 15,941 | 129,158 |
(51,354 ) |
93,745 |
||
| As at 31 August 2023 £ 4,850 |
Income £ 40,390 |
Expenditure £ (29,299 ) |
As at 30 August 2024 £ 15,941 |
||
| 4,850 | 40,390 |
(29,299 ) |
15,941 |
14. Transactions with Trustees
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
No trustee expenses have been incurred.
15. Related Party Disclosures
There have been no related party transactions in the reporting period that require disclosure.
16. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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