Solev Co. Limited REPORT AND FINANCIAL ATEmENTs REGISTERED COMPANYNUMBER.. 00923876 REGISIEPED CHARifY NUMBER.. 254623 FOR THE YEAR ENDED 31st MARCH 21)23
coNrENr6 Ind¢pend¢ntAuditorfs Rert Slal¢m¢nt of Fin*n¢ial Adivilies Balance She¢¢ Notes to the Financial Statements 10-14
&)le¥ c iAmite TRusfEKs' ANNUAL RETORT FOR THE YEAR ENDED 31st MARCH 2 Reference adJDkntstrndv¢ IDfonDatkn Trust Mr R Tager Mr SJ Ta8er(re5iBned (17mir1025) MrJP Ta8er (resi8ncd 17101r2025) Mr MJ Blake (8tv)intd 15112r2024} Mr PM Kremen {aprM>inted 15112r2024) Company Srfretary C4)mpany re8iSt¢rvJ nurnbex (MTr)23876 arity r¢Bist¢red nwnbttr R¢8iSt¢red offic¢ l&) Bridpxt Ro*1 N18 ISY tndèpendeni Auditor Mc¥)re Kin8sM Srnith Ll 9 Awold Str B( 2AP
TRUS"IEES'ANNUAL REPORT R THE YEAR ENDED 31- hlARCH 21123 Th¢ t, are direLtrs for the purE¥is¢s of eompany law prewt the annual reporttogether with the finAt)cial stst¢ments and indep¢ndent auditorfs ryrt of the charitsbk L¥)mpw for th¢ye•T ended 31 March 2023 Obje¢tives nd 8¢tivltles Objeets The compffiy was estÈblish¢d to hjrtherthose both in the United Kingdom ttnd abroad. which recognised as charitable by English taw. The charity re¢eiYe5 income from its investments and fr( associated und¢rthkin8S, in¢l]Ing gift aided do[lI0n whieh it utilises in the provision of grants and donations to other charities and no change is envisag in the firtu Ptsbuc benefv The charity makes charitsble Brnnts and donatii)n& The trustees Confirn they have compli with the rtquÉrements of 5tIOn 17 ofth¢ CharitiesAd 201 I to have due r¢8ard the public benefft guidanct published by the Chartty Commission for Engld And Waies. Trnsteu and •ffJc•r5 The tnthe5 and offi¢¢rs servin8 during theye8T and since the y¢•rend wtre as ftsllows: Trustee$'. Mr R T4g¢r Mr SJ T4e Mr SPT4¢r Mr MJ Blak¢ Mr PM Kremen Se. Mr CM Fromm N4thre ofgobYrnlii8 docMmtNe The company's governin8 doaunent is its Memorandum and Articles ofAssocitition. objec11$ andpdld• Th¢ charity's activities expose it to a nwnber of finan¢ial risks includin¥ credit risL c&th flow risk and liquidity rtsk. The us¢ of fman¢ial deriviYes is wvemed by the charity's wlicics 4yroved by the knard of trusttts. which provid¢ written principle5 on the use of financial ts1vatiS manage these risks. The clwity thes not use d¢rtvativc financial instruments for spe¢ulativ¢ wrp CuJhfvw rts The ¢harity's activities expos¢ it prÈm8rily to the finanGial risks of intrSt knterest bearing 8nd liabilities are held at fjxed rate ty ¢trtainty of cash flthvs.
Solev Umlknj TRUSTELS'ANNUALREPORT Credttrff The charity's principal financial sets aye bank balan and ttalk alld otheJ rtteivables. The charity's risk 1$ primarily attributable W its trk receiv8bles. The amunts p[rtted in the balance sheet are net of allowances for dwbtfi]I fEeeivable& An allowance foT ill)PAirnt is where there is an Identifi loss ev¢nt Whi¢ based on previous exp¥&e is CYence of a redudion tn th¢ retoverability of the cash flows. The thority b&% rto Signifi co1kn of Lyedit risL with exposure sPrd over its bank and relatively small debto LI4Mldlty rlsk In order to rnaintain liquidity trj ensure that gJfficiet fJnds aT¢ available for ongoing opttati0Tr8 futur¢ developmenty th¢ charity uses a mtxtiw¢ of l(xTr8.term 9Th1 Srt-ten deirt finet. Furthcr details regarding liquidity risk can be fouTha in the St*rnert of 11¢1¢5 in the financi81 stst¢m¢nts. Flnrfnctsl Reblew Qmethdlnz reyerveJpollry) The ouiytanding Pidom Exwjrt Ltsl debtor is lty 5ecuTed by the 8uarantr¢ of F•ir¢&%tie Ltsl aThl the loAn was r¢paid in full by February 2025. The interest paid on that loan amountrd to £307.433. Thert were ¢harifAbl¢ donations amountin8 to £314.664. Th¢re is c&sh balance of £46.137 bein8 held to firture 8ovemanc¢ and othw c4)sts and the charitable grants that the trusttts will be wlderin8 in the future. These reserves togdher with thE investhient itKome will more than sufficie¥rt to wver fire proposed ¢hwitsble rn. Pa8tt 3
Soley C& L4mited TRUSTELS. ANNUAL REPORT FOA THE YEAR ENDED 31st MARCH 21ll3 Statement of Tnuttts, r¢sponsilMIrtY The trustees {wbo are also direc of charity foT the puryh)s¢s of company law) are re5ponsil)le for preparing the Trustees, Reptsrt 8md the fll)an¢ial statements in a¢COrdan with applieable law alld United Kin8dorn AcCoLting Standar¢ts (Untted Kinsdom Generally Ac¢¢Med Aw)unting Prnthice). Company l&w requirtd tnthes to pr¢pw¢ fina1 staternents ftr fln8nci81 year 1¢h give 8 trne and f8irview of the slate of the affairs of the ¢h8ritable ¢omFany and of the ouwjing resourtts and 8ppliclOn of r¢50urc¢5, in¢ludin8 the income 8nd expenditure. ofthe charitable ¢ompaDy for that puifyl. In preyrin8 thue finAncial sthtrm the tntell ort requlred to.. select Suitsble a¢counting TM)lici&s and then 4Jpty them ¢onsigtently' comply with applicable aCutIng stsndard5. includÉn8 FRS 102. subjeKt to aDy material d• disclosed and explained in the fJn8llci31 statements. state a St8tem¢nl of ReCoulendd Practicc (SOR> applies and Iw be¢n followed. subject to any material departUTes whith we expiatned iti the f1¢$al $ements. ' make jud8em¢nts and ¢#im8ts that at¢ re&wtt&ble olld pnjdeot; ' prepth the financial siAt¢nKrts on • goiog ci•wi bsi$ uni8ss it is inappropriate to pr¢Jum¢ that the eharity will continue in business. Th¢ ¢ru8tees ve respomible for ke¢pin8 prw tY4 fteordq that di%los¢ with reWMle at any time the fin8ncial position of the ¢h8riiabl¢ company ond enable them ensure th81 the fman¢ia] siaiernents comply with the Companies A¢1 2006. 1.hty are also resp)nsible for Saft8UITh8the ets of the ch8ritable company henee for taking rOnable steps for the prevention and deiection of fraud #nd othtr irregulariti Each of thc persons who is a truste¢ ot th¢dat¢ of of this rwt lfiTh)s th - so far as the trusttt i5 aw8r< ihere is no relevant audit infornlltion of which th¢ company's audiior is un&w and - the irusiee has tsk¢n all the 5tep5 htjshe ought w have tsken • director in order to hiwtselfkrs¢lf aware of any r¢l¢vAnt audit infonnation and to estsblish that the Juditor is aware of that information. This r¢port h&5 been prepfired in with ¢h¢ sp¢rid provisirm rdatin8 to unall Companhès within P 15 of the Companies Act 2006.
g Approved by th¢ Tt$ ¢)n.' and signed on it5 behalf by:....-.................. .. Tnte¢ Romie Tager, Trustee
]NDEPENDEP¥t AUDITOR'S RgTrY)RT TO THE TRUSTELS OF SO[v CO. LIMITED FOR THE YFAR ENDED 31st MARCH 2023 Opinio We have au(btrd the financial ststenKnts of Sokv Co. Limi1 {tr o)mp8ny') forthe y¢&rend31 March 2023 ¢ompri5C th¢ Statemento(FinancJalAdivitie4 the Surntrmry IDcomeatyJ ExdIDJr¢ Acc(MmL th¢ Balance Sheet and notrs io the flnancial Statements. including sw)iftC4nt acrA)Wlting pJlicic& Tbc Twting fr8mcworkthath&% applted in thetrpr¢pffttion is awlitabl¢ and United Km8dom ActouJJling StaThdard4 incl118 FRS 102 Tr FinwnCi R¢wling Standard Appli¢abk in the UK otKi Republic of lrtlwLd' (Uniicd Kingd Grn¢rntly Accemed AccouMitiB Prttirel Ill ow opini¢MJ the finwial slaien . givc a true and Fair virw of the knof the ¢hfftritsbkconw's affairs 8$&31 M¢h 2023. and oftts In¢ing rcsou a1 applicNtion of rwurw th¢)rar thcn eD(W' . have been prortrty prepTrr in K¢ordao¢¢ with Unitcd Ktll8dom G•K¥ally Ac¢eFcdAccourytiD8 Pe. and . have bccn ryepared in ac¢ordwtt with the TequirertXllL8 of the CoJnparticsAct 2006 B1815 for oplnlo We conducted our audil itt 1cord with Illten AudilinglUK>{ISAs (UK}l and applic4ble law. Our sponsibilities wkder those startdwds •T¢ furthcrde5crilxd in th¢ AwlitsY'$ Rwnsibilitics for the akndi¢ of the financial statements section of our rep)rL We &r¢ de[deTrt of the ¢haTitsbl¢ rpAnY in acc{ with th¢ ejhioxl T¢qUint]ts rei¢vaTrt to ow audit of the financ1 s¢&tements in the UK includin8 th¢ FRC'S F.thical StsnW and w¢ b4ve fulfilled our other ethicAi Twnsibilities in accord8nr¢ with thtX Tcqurerrth W¢ ]1¢¥¢ th&th¢ wjdit evidr4Ke h8ve obtsitt¢d Li $utTicient and appropriate to provide a knis fff ouropuii( Con¢luiloni rekntinlto 4olm8 ton¢ lo &uditin8 the financial sw¢m¢nw we haff ¢oncJudcd thatthcTn¢& ofthe 8OitiB C4ML%rn knis of accounung iti thc preparation of thc financi ststerne4Jts is gpproprille. Bued on the work w¢ have perf¢>rrrd. we hv¢ nDt Mlemified ot1ymdted uneerrainties Tel&tin8w eThts ort0[ltOn5 thal individually OT collectivefy. may ¢ast sip)ifK&ni thyjbi on the charÈry's ability th ¢crfinu¢ as a going concern for 8 p¢riod ofat le¢ twelve nionth5 from wh¢n th¢ fmn¢ial are4Uth1j (or iw. Our r¢sp)nsibilitle5 WMI the resp)nsibilities of the trus¢swith r¢•thInge1ern are d¢xr¥J¢d in the re]cvant seaions of thij r¢tx)rL Other IAformAtlon The other infornwtion compTi5e5 the iThformwtion included in the annual report Oth the flnarK1 statrments ond ourAudiior's repon ther¢on. The trustccs arc Ttsponsible for th¢ other orMIl0. Ouropittion on the f]n8n¢i s(aments doe5 not coverthe other infi>Tmgti(m Rnd. exeeDt lo the othemwigt txplietstly JMJt&4 in rtytsrL dcj ntst exprew form rf co1510 thereon. Our resnsIbil 15 to re thc other infornution it) y), r(wid¢T wh¢thEr the othu infornmttort m4twi4ily inconsistent with the flnanciai stat¢tWts ¢)r our knowkllgc obtsincd in the crAJrse of the audii orithmvi% appears to be Matrrity misstaicd. Ir w¢ id¢rytify5uch matrriai incon9ieThcies or •pprnrt MAtcr1 MIS# weatt requirtd to d¢¢mune whcther there is a materia] mis51at¢Tncnt in the fmattth] atun¢nts thNny¢lv¢s. If. 0nthcW wehvc wforn¥4 wEwn¢lud¢ thcT¢ is a material in155t8icmettt of this dher infom13tio w¢ thwr rquircd to rcm ft W¢ hav¢ nothingto r in this rtwd. Oplnlons ott oth¢r rn•tt¢rs prtxribed by the Cornp*mies Art 21 In our opinioJL be on the work in th¢ C(15¢ of the audit . the inform2tion 8iven inth¢ tsiJste¢s' aDthual JrpLrt for the fjnancial ycarforwhich the are VrerAJ. consist¢nt with th¢ fLtwKhi1 statcrDent% and
INDEPENDENT AUDITOR'S REPORT TO THE IRUSTE&S OF SOLEV CO. LIMrrED FOR THE YEAR ENDED 31st MARCH 2023 MtteTJ o• fbleh wt are reqry1r ts r¢port by Ill the Itghtof the kno¢ and of the MPY and ltsenv1r( thiin¢d ID lkncouThc oftht authL we havenot idelltifled We have [thing Yetth trL r¢wt of the fo11n8 the Cni¢SACt 2( mwires us to r¢FKrtto you i£ itt our opinion.. vi8it¢d by u5- or . ¢¢nain disclosu5 of In¢¢8. remuneration by ate nol mwk: or -w¢ hav¢ ntsi ryeivcd all the infomwtion and exp]snations we wuire for ¢Jur awli¢ or . th¢ trus15 Wrye oot entI¢d to prcpart the financia] xeffllaew1th the ¢(Krq)9nies te8im¢ and ¢ak¢ R¢9ponslbllldu of Tb• Tnbrte As explained more fi]lty in the trus¢s' t¢Spor111tseS st8ltmeDI set iyJt(ffi p8ge 4, thctrustrts (who are also the directors of the Chil&b]e company for th¢ purp)s¢s of compfjny Jaw) are r¢stMTrnsibk forthe )X¢FwatiotL of the fInal81 statell and for bein8 tiSfIed that they a truc and fair view, and for such iTh¢ern Control as thc tru#ees dewmine is Dei%&8thy th¢ prepar of fift¢1 stst¢m¢nts that In preparin8 the styt¢t1 the are nSFthsibie forasqwin8the chtiritsbl¢ ¢ompny's ability to Gontinue goin8 ci)ncern, disclosin& R5 Appli¢4bl4 matters [¢ted 1n8¢onCrrn 4r¥J th¢ 8oing ¢on(tm basis of aLrouThtlngunl th¢ tru5 either itltend to Ikquidale the ¢haritsble ¢ompany OT to ¢¢w owat1¢ Lrhave realistic alknwiv¢ but do so. A¥dltor'i rejponslbllltks f•r the udit of the n•imd•l At•Aeits Our objective5 8Te to otrtlill ff8soDable lbow whetherthc fuwKlJl a whol¢ Att free from mtcri81 migthm¢nL wh¥ther due to fraud or ¢rmr. and to issuc an audiw'$ in¢lth OUT q)ini¢JL Rewthlable Surare is a high l¢v¢l of assyrancq but is noi g Ruarantcc tht audit conducted irt a¢¢ord8n¢e with ISA$ IUKI will 8Jway5 4 mtriaj misstatcrt%ni when it exists. Misstat¢mcThts cart Arise from fraud or ar¢ ¢ow8idend mtitu1 if, individualty or in •48reM they c4)uld r¢ason8bty be ¢Xpee to llthu¢n¢¢ the econom d1$)0 of Stakl on th¢ t•Si5 of thex As of an Audit it) a¢wrdanee ISAS IUK) exercise prof¢syonaJ JUdga and Thintain Professiottol 8c¢pticimthroughout the diL We also". - Id¢ntify Bnd $t$S the risks ormlltcn misswwniof thc sta1t4ty wh¢therdue fnlud or crror, desi8Th and perform audit pro¢¢dures responsive tothos¢ ris obtsin atyjii evide[ 1¢lent 4wr(yiat to proyidc a trAsis for ouropinion. The risk of no¢ detecting a Tnat¢ri81 mi&statcmrnt Trsultin8 from fra 15 ereSlI1n8 from emw. as fraud iDvolve ¢ollusloN lor8ery. intetLtiOn omis5irms wthe oThttride of ¢Th1. - Obtain an understsndingof Énternaj control relevaDtto th¢ in ordcrto desi audli procedurfs that oppropyiatt in the CiT¢urllstsn¢¢& but not for th¢ pu¥pr6es of cxpressiti88ll Opinion th¢ effeaivcnc&s of th¢ thitablc cornpany's intrmal cffltrol. .Evaluale tbe appropri8w% of accouthliti8l1cIts •lldth¢reawn8bknts5 of a¢£owthg&4imftt¢s amd ]011 diw10r¢S m&d¢ by thetru5t¢¢& . Concltsde ot) the zpmiri&trnes3 of thc trusw. of the ¢fjrrn basi% of WAmtiD8 and on the evidence Obtaine Ivhcth¢r &m&teriDi u[l(ty1ty exists tElad events or collditw that may caa $ilfiel doubt otl the charitsbk company'5 Ibility to continue 8goin8 conce If w¢ CODcludethat a mtri81 tiocertsinty OiSt% wc arc tequirc41 to dT8W atteTrti(Trn in our4uditor'$ r¢port to the relat discloswrs io thc fin•rtiai or. if such discJogJr¢5 we inadequal4 to ow opinion. OurcoD¢lusions bd on thc wdit E*id¢nce obtsind up to the datc of ¢Jur wyJithr'$ repxL Howe¥tt. fikn evt4Lts or ty)nditiODS may cau the . Evaluate the thve¥a]I prtsenwiw sknLcbJre and ¢on¢entof the fllMn¢ial slatsmty including thc disclog]re& theJherth¢fin4nciai
INDEPETffiEKT AlJDOR.s REPORT FOR THE YKARENDED318t h4RCH 21123 it hJtho88, iD¢lthg t<01 itknts.fy ¢knr¢ow•wliL dEtt¢tiD8 ille1.#. itttlthg frud li dali1 bdthw. Th¢ obj¢uiv¢s ofollr llL r¢8p of fraw( th." to and a5yc thr mbj ofmatyi Miryt•1¢ ofthe finaThC1 semE[ frzwl.. to obthin suffic¢ui PrOP¢ 4uth"i rrguthgthe I55¢dr oftiwtuial thTwgb aDd 80venrt ofth¢ dhtrLtable eompany. 0pPrCknWa ts follow8" . Wc obtsttied att wthranth'n8ofth¢ Iwl •MdTry]wy to the 7¢j£dththc mct s]uric¥t th¢ compan Act 21W (knt Ad 2011. the Cblniy SORP, and UK fwanG T¢PMtu% Es LWtd bytht harg¢dwJth how it m$8hl w¢ur. by boldLDsdkSLItsSiLW rknd with . Bag¢don thii UDthnt &si1 spe¢ific thth'fy inswpxs ofnonomplian¢Y with l&wB and rtguSati0tsg."Thi8 indudtd C4W4uiri¥ ¢bK8ed and0.nIngIddliIII ¢uroborati twdencc Tequir&l. The 4r¢ mh¢r¢D¢ limi¢•tiw irL the I111 pr¢&¥41n4bQ%. We we leu l&t]y ki becthne •WWE olin51w ofDonPIl with IAI d re8ulits)n8 CIcY rdat¢dto trtrdai(MT¢fle¢trd ststtthtlkts. Also, the riik of boi ¢kteth'Dg i matuial mi53¢ataDellt (bjc to fraud ts hi8kn thaD th¢ nsk of wt rtxthlw em. •s fr•ud w 0]vE delibcrntr ¢orIclMl by. for Use of ollr rqpwt This report Li m&& yolely to th¢ &blble ibjdy. ill wmb CTh4ty3 ofpart 16 of thr L(wnieg A¢1 20D6. Our audit %York bas been un(kTtaken yo ll¢ 910th¢ (Aw•ny's mtmkn th¢ rda¢¢crs art rtqvy¢d 10 51It¢tothem In 4u(U¥(Y'S ]tport End for noothw pwpc4¢ To the tles1 exkllt Nmrtied by l•w. rKd ¥CCPt [tyK$1bi1ity to 8ttypaw irthw than the it&ble AodcbujIe umbern ¥ tstrx•JdiiwtyK or Mtha forrrttd. ocrt QEkn LLP Adim Vullortoi 15tttior Sththtory ADdltsr) for a#d M btb*ltofMrw¢ 9 AlaS1r¢¢I EC2A W D•t<: 28 Febnjary 2(Y25
Solev c Umlted STATEMENT OF FINtlNCIAL ACnVITILS FOR Tltg YEAR ENDED31 MARCH 2023 -U•Tr8trleted Getrnl Fnmd 21n3 Totsl Funds 2023 Funds 2022 Note5 INCOME AIW ENDOWMENtS FROM: Investsnent income TOTAL INCOME 317972 317.9r2 317,972 301,832 301832 EXPENDITURE ON: Raising funds Charitsbl¢ 8¢tiviti¢5 TOTAL EXPENDITURE 39,635 314,664 354299 39.635 314,664 354.299 37.760 397,324 435,084 NET tNCOMEI(EXPFNDITURE) AND NET MOVEME1 IN FUNDS 136J2T) (36J27) (133352) RECONCILIATION OF FUNLKS Totsl funds brought forward as l Awil 5 959 832 5.959.832 6.093.084 BALANCFS CARIUED FORWARD AS AT31st MARCH 2•23 S923J05 S923J05 5 9S9.832 All amounts r¢l*e to continuin8 activities.
BAtANCE SHErr AS AT 31sr MARCH 2(123 21)23 2022 CURREiYf ASSETS Debtors Cash at Bank 5.924,671 6,682,539 5.970.808 6,755,499 CURRENT LIABILfnES Cr¢ditors- fallin8 due within orK ye4r 47,303 795.667 NET CURR ASSETS 5.923 505 5.959.832 Totsl ujets f urrmt Il•blilth¥ 5.923.505 5.959.832 NET ASSETS S923JOS 5.959.832 UNRF.s'fRicfED FUNDS General Fund 5.923J05 5,959.832 5,959,832 Approved by the TTwte¢$ 8nd for ISWE OIL I siTrJ its behalf by: TnL8t¢e Romie Tag
NOTES TO THE FINANCIAL sfATEME]YTS FOR THE YEAR ENDED 31sr MARCH 2023 I ACCOUNTING POLICIES (A) BJi$ of Prep8r8tion These fina18] ststanets are pvepftml 80iti8 ¢oncthi b¥14 ty¥l¢r th¢ hith11 conventio The financial ststements he been prepa1 in a¢COTdwv th¢ Financial Reporting Standard applicable in the UK and Republic of Ir¢land (FRS 102). The Charity is # pthlic bettfit entity for the purrrt)ses of FRS 102 and ther¢for¢ the Ch&rity also prepared its finatKiai St8t¢nY in ac(x)rd with the Siatnert of RecomMthed Practice appli¢thl¢ to Charities pr¢paring their &¢ctyJnts in acc¢xdae with the Financial R¢pryting Standard applicable in th¢ UK and RepublRc of tr¢l8nd (Th¢ FRS 102 Charities SORP), the CompaDie5 Ad 2( and Charities Ad 2011. The financial ststements are pyeprgj in Sterli 1¢h R$ fin111 ¢WTW ofthe dwity. MorKtary amounts irt these financial staiements are rowwjed to the rte4r¢st The princiFAI aottIng wJli¢i¢5 thpted in the preF•rnts of the financial xt below. (b) Fund Strnctsrn The General Fund is a fimd which the Tn ve free to in ¥earthc with th¢ ¢haTitabl¢ objects. (e) Ineome Ail income is re¢11¢d in the Stst¢mtrt of Fitt141 knivilies (SOFA) kn th¢ wnditions for receipt have beert mel the 4rnOWkt 1$ meuurabl¢ and relp¢ is probable. IDv4stJn•nt Ineom¢ Investh)ent inccne is e08ed in the SOFA when rxeivab (d) Exp•ndl¢ur• Liabilities are reniSed as expendittwe as soon as there is A le8al or constructive obl188t1 committing the dwity to the expenditure. All expendiiure is accounted for on accrufi]s bLsis and has been clL4sifi¢d under headings aggre8ate all costs r¢lated to the caiegory. The following accowrtin8 polieics are applied to thc differert gon¢S of expenditure.. Charltable Aetlvlt5Es Grants payobl¢ are rttognised when thry we approved by Tnk%¢s and the r&ipi¢nt of the grant Iw been infom)ed ofthe amouttt to be pAid. Support costs Support Costs tlUde ¢¢ntral functions and have be¢n allo to activity cost categories on a basis eongi5tent wth the use of rOT£e4 for ex8ry14 alloc8tin8 Pro cosL8 by floor8r¢4 or w wit4 st8ff ¢(tsts by the time spent at¥J other costs by their usage GovernAm¢¢ Co•ts Governare costs compris¢ all co5 involving th¢ pthli¢ ¥ntllity ofth¢ chrity and Ats ccnpli8nce with re8u]ation and (e) Golllg eottcern The Trust¢es have &ssessed whdhtr the use of the 80in8 conc¢rn bHsis i5 appropriate and has consid¢Ted possible events or conditions might cast signifjc8nt doubt on the ability of the chtirity to c(¥ttitiue &% a 80in8 concern. The Trustees have nude this ass¢ssmMt for a peri¢)d of at l¢# year ftom the date of approval of the fin1&] staternetrts. After making cnqu]es the Trustees have corKluded that thue is a rable expectslion that the dwi.ty hos adequ8t¢ resources to Continue in op¢rntional existence for th¢ for¢sttthle fithtre. The clmriry thereth wntinues to adoptthe going concern bosis in pr¢paTing its siatenxrt Pa8e: 10
NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED31sf MARCH 2(123 l AccouNrtNG POLlCtES (Cortthiued) (O F5ttartdal lastrnnwits The charity has elected ts) appty the w)visiott% of Secticffi I I 'Basic Fitwid Instr, of FRS 102 w all of its financial scttlwnart value. (¥) Csh aDd f8sh equlvaltrtts Cash and c&sh equivalents include casb ID dep)wts held cau with bfiDks othu shr4¢Thn liquid invest[[ with oriwnal maturities of thre¢ Jrrt)nt or less. (h) Key EstImte$ IAd Judgemeryts In preparing fInala] stst¢mentS Lt is to certain eimths assun4)tions thot affxt the In the view of the Trustses in applyin8 th¢ rntin4 Nilicies adoMe4 no wY¥¢ required that h&ve a Significant effect on the amounts rew8nised in the financial atem do any estim or assunytiom m8d¢ carry a 5181]Lfi¢¥ni risk of mat¢rial adjustllK4& in rtxl finwial ye4T.
Soiev c limit NOTES TO THE FINANCtAL sfATEMENIS (CONllNUED) FOR IHE YEAR ENDED 31sr MARCH 2023 2 INVESTME INCOME 2023 2022 317.9T2 301.832 3 COST OF RAISING FUNDS 2023 2022 Loon interest 39.635 37,760 The thatity awarded doMtiott) * numbtt of iAStitirtions in of its chritable activities. 2023 2022 Ach&ifMiuch Bri14sh Friendy Bar Ilan Unibvnity Brt)Mdvbury PorkSynagog¥e Comp.fim¢l ca All Limiled Chai C'ancer Core G¢sher Trwt Hatzolah Irtiernatioth Beth Din JAMJ jeWh Ae1th1oIOr MentslJllK Jewuh Care Jneiies JW3 Kerex ChrtmQf Shloma Tr Kisharo 2,500 127.500 2,500 84.700 75 3.000 15,000 5,000 15.(y)O 3,000 3.000 12,500 5,000 4,000 2.500 3.Th)0 8,000 4,1)00 17.500 4,000 -34,000 2.500 25,(K)O 2.500 10.500 1.5C(I 16.$00 7.8 18.C(KJ New Israel Fw Nfinvond PripKe.f Tetxhing Injtitule Rimon Jewish PrimaryS¢loI Chorttoble Trlul Rina Chariiuble Trwt Sassov Bels Hamedrash Shir CAesedBei¥ Y¥sroel Siahl Mernoridl Tevini Lid 36.850 5.01)0 5.500 5,1)00 16,750 The Profesyionol TehIng1Itsf¢ The Reltabiliiatson Tr¥ UJIA UniledJew 15ruel appeal UnlvetsityJ¢wtsh ch)laIn¢Y Iyllo UK IYorldJewish Relf YeslwaAdler Memorm Grants < £2,S(K) 12.500 5.(N)O 10,001 3,000 5.000 5.1)00 49,948 395.199 2.125 397024 60,557 298W7 IS857 314,064 Support and 8ovemaNL c(*ts (s¢¢ note 5) Total Pag¢: 12
Soltv Cth 14wite41 N(YfKS TO TUE FINANCIAL YfATEMENTS (CONnNUED) FOR THE YEAR ENDED 31sr MARCH 2023 S SUPPORT AND GOVERNANCE 2023 2022 Bank charges Other 720 Accounting ¢h8r8¢s Audit fees Other govemAn¢e 2.880 11900 1,350 55 15 6 STAFF COSTS The charity had no ¢mployees during the yew or th¢ previouq p0 7 DEBTORS 21123 2022 VAT reeovtt8ble 540 6.681,999 6 682 539 5 924671 5 924,671 8 CREDITORS 2023 2022 Due wlthln oll¢ y¢*r lJh¢r eredilorn Accruals 32.603 14.7LKI 792.967 2,700 47 03 793 667 9 ANALYSIS OF NET ASSETS BETWEEN FUNDS Gener81 Fund 2023 C•rr¢Dt yur. Tot•1 Fundi 2023 Debtors Cash & B8nk 5.924,671 46,137 5.924.671 46.137 Creditors due within one ye4r (47.303) {47,303} 5,923,505 5923,505 Pa8e: 13
NOTES TO THE FINANCIAL sfATEMENfs {CONllNUED) FOR THE YEAR ENDED 31ST MARCH 2023 9 ANALYSIS OF ASSETS BEIWELN FUNDS (eotttl•ed) PrfTrr Yr. General Fwid Totsl Funds 2022 2022 D¢btors 6.681539 71960 6.681539 72,960 Creditors due within one ye 1795.667) 1795,667) Tothl 5 959,832 S,959032 10 RELATED PARTY TRANSAcrioNs Durin8 the y¢ar the chvity m&de the follow related party ¢raMx¢ions: Pldom Exptsrt Llmlt The company is releted to Pidorn Ext Limityj. & eompw in wthich Mr R Tager. Mr SJ TageT and Mr JP Tager were dirKtors in the current and previous fin&ncial ye8f. Interest is r¢c¢iv¢d under th¢ kn of a loan Ayeeiixnt betwe the compani¢s at a of 5% per arUM. The interest for this ye4r wos £307.433 (2022- £298.126). This loan is se¢n by the dir¢¢ior5 u 8 way of investsnent of 5UTplus fimd8 that will be required for chritable projects in the futtwe not immedi•t¢ly. the balwKe theet date the amount dut from Pidom Expm Limid £5.493.087 (2022- £6260,654). The whole of the outstandin8 arUnt due on th¢ lo to Pi&Mn Exwt LiMij and guanteed by Faircastle Ltd, (also a related party by virtue of the $8m¢ tr¢direCtorS.) has been by Faircastle Ltd under its guar4nte¢ since the bJlattt sl¢t de. Hatslocho Llmlt•d The CoMpY is related to HatZloCl Limityl thidj 1$ ry)ntThAled by the sp)uses of the Tager family tn of Sol¢v Co. Ltd. Interest of £39.635 {2022- £37.760) was CW charity by HatzlLKl¥) Limited in thc year. The loan Is due w b¢ Tep#ld b¢rtlxe J I MCkn 2024. At the bHIal SI<1 dw¢ thr wnount du¢ to MayJoGI Limited 2,603 (2022- £792.968). Tre Britljh Frfemds Of*• Utherdty During the yeu the Charity grarrts of £84.? (2022: £127.5(Kl) tt) British of Bar Ilan Untversity. Mr R Tager is a tnle£ of Brilish Friends of Bar I1 Univusiry. I I TIL4NSAcrIoNs wmi TrUSTEFS No TrLLStees received remurtr8tion durithe year or the priory¢8r. No expoLW re re1Mbsed to trustees in the current or prior year. 12 COMPANY STATUS The aty is a comparty limited by gwanttt aTrl hEs slw¢ witsl. In thE of the charity being wound up. the liability in Trspect of the gi18¢ is limitrd to £1 per rne4nkn of the Chlty. IJ C0Tr4TINGKNT IJABILrrY There is ongoing HMRC ellqillry into the clwity's tsx affair5. As the is owing the outcome is &Tkl atthis sla8e any polerthal addi1101 liabilitio% wbich tUld knclude plties. are Th)t nwurable. Pabr: 14