Sokv Co. Limlted REPORT AND FINANCIAL STATEMENIS REGISTERED COWANY NUMBER: (MJ923876 REGlStERED CHARITY NUMBER: 254623 FOR THE YEAR ENDED 318t MARCH 2024
Sokv iimlted CONTEKKS Truslees, Annu31 Report Ind¢pend¢ntAuditoes R¢port Statrment of Adivi¢i Balance Sh¢¢t 10-14 Note5 10 the Fin•ncl Ststem¢nts
TRusfEES' ANNUAL REPORT FOR THE YEAR ENDED 31st PlARCH 2024 R¢ferMce •nd InforDut¥Jo TTUSte¢s MrRTa Mr Sl Taw (rt8igned (17min025) MrJP Tager (r¢si8ned 17101r2025) Mr MJ Blske18wxJintyl I511024) Mr PM {8Nx)u4I 15112n024) rJM3876 awity r¢8ist#ed numlr Rwtued offlce BridpJ*R(thd Nl8 ISY Indeid¢n1 Auditor ml Kinsstm Smith LLP 9 Apwsld Sirctt EQA 2AP
Solev C& Limited TRusfEES?ANNUALREPORT FOR THK YEAR ENDED 31sf MARCH 2024 financial Stat¢rnet wyd ind¢th ¥11t5 re[ ofthe dwithbk Compny ftir the year ended 31 March 2024 ObJectIV Alld Objects The company was estsblished to fiJrthe th¢ trn brAh in the Unitul KiD8kn and abroi which #r¢ re¢¢)gnised os ¢harithble by FJLglish law. The charity rec¢ives incom¢ frorn its inv¢5kn¢nts and from associ8d undertskin85, including 8hft aided donations which it thilis¢s in the provisi1 of dOtiatis to oth¢r tharities and no chwwe is VIsIBl in th¢ imnKdi8te firtu Pmblk b¢neJll Th¢ tn]ste¢s confwm that thry h•v¢ c(Knplied with the requirements of 5edion 17 of th¢ ClwitiesAd 2011 have due rewd to the publi¢ b¢fil Suidae publisiK41 by th¢ awtty Commission for England and Wthl¢J. Trte •od ollke The trus gnd offi¢en serving duriti8tho yearand sin( the yw ¢ttd wu¢ u foll Th18te¢s: MT R Tag Mr SJ Ta8er Mr JP Ta8er MJ Bloke Mr PM Krem S¢cretsry'. Mr CM Fromm N4fyre of80rnIn1 dK¥ffj•rAI Th¢ ¢ompw's governing docum¢rt is its 8ryJArticl¢s ofAs9)cil0n. Objeed The ¢hJrity's activities exw)s¢ it to i numbw of finan¢ial risks irtluding agjit risK wh flow ti5k and liquidity risk. The use of finan¢i81 deriV1Ve$ hs govern by thc tharity's )liCI¢S wTOv by the boArd of trugt¢e which provide written prilPleS on thc of finwnciji deriWiV¢S ty m•na8e these risks. The tharity does Dot us¢ deriY&liYe fll)81)I 1Th[Dents for speculalive The charity's adivities exp)s¢ it primars]y the fmwKiai risks of interest rat Interest be8rin8 ass¢ts 8nd li&bilities are held at fixed ratr to Lth1nty of flows. Pag& 2
Solev Cth L4mited TRUSTEES ANNUAL REPORT FOR ThEYEAR ENDED 315f MARCH 2fQ4 crd rtsk Th¢ charity's principal fin¢181ts arc bank b818DCW )d Lth trade •nd othu Te¢¢ivtibles. The charity's ¢redit risk is PThm3Tily attributhble to its trade rKeivable& The wunts 5MYnt¢d in the balanL* $It are net of allowances for doubtfid receivables. An allowznce for iM]MnI is made where there is an identified loss ev¢nt Whic bas oth prv4lo% is evid¢nc¢ of a Tedudion in the r¢coverAbility of the ¢&sh tlows. The charity no si8nifie4nt of ¢reditrisK with ¢xp)5ure SPTeAd ovtt its bank and relatively nall debtor Llquidity r&sk In order to m&intshn liquidity to ¢U(c tha¢ sufficient fuThts are availabl¢ for ongotn8(qmiiorts and future developments, the charity Ug¢S I MIXti of lon8.tum and Srt.teThJ dth finance. Further details Y¢gardirt8 liquidity risk ¢an be fwrtd IA the S¢aWn¢nt of accounting wli¢ie5 in th¢ finan¢i81 ststem¢Dts. Flnan¢tsl Rthlew {thel¥dlng reJ¢rKspoUcy) The out5tsnding Pidom Exwt Ltd d¢btor is fully stre0 by the guarantee of Fair¢¢ Ltd Ltd gnd the108n W8s rep&id in 11 by February 2025. The inter¢st paid on that loan 8mountrd £276.951. There were ch8rithble dona¢ions OuntingtO £79,167. There is ¢8sh Wan¢e of £19.761 Ixin8 h¢1& to wver futurt govem&w¢ and other costs w)d the ¢tWbt#bl¢ 8r8nts that tht trustees will be considering in the fvttwe. Thes¢ res¢rv¢5 tog¢th¢r with the inv¢stsn¢nt iDcome and thc full r¢payment by Pidom Export Ltd will be than Suffici cov¢r fvbjre proposed charitable 8tants. The trustees will be forniu1in8 8 comprth¢nsive invesiment policy following the rwtipt of tht full Pidom Exp¢)rt Ltd loprt bg]an¢e. e:3
Solev Co. Limittd FOR THE YEAR ENDED3Ast MARCH 2Q24 Stltemeot 0fTrtea, rey1wl Illths Th¢ tNstees (who ate also dir15 of tharity for th¢ purpcw of eompany law) ar¢ resp)nsible forprtpaTingtheTrust¢es' Report ond the fittaDcial 51at¢ments ln accordat appli¢abl¢ law aNIUnited Kingdom Accounting Stand¥ds (United Kingdom GeThe]ally A•d AccountingPr¥li¢¢l. Cotnpwny18w f4UiT¢d trtr¢s to preparc fina111 ststements f(r wly tlnon¢ial ye4rwhich give atrue 8ThJ fair view of the si&t¢ of the affairs of the ¢lwit8ble compaDy and of the outgoing resour¢e5 and appli¢11 of resources. including the in¢om¢ and expendittlre, of th¢ charitable eompfiny forthat period. ID pr¢pKi08these financi Swe1 the trUSt¢es are reqUId to.. select $uttable ¥eountiDg plici¢s and then appty tkn ¢$1cty. compty with applicable awjwiting stat)dOTts, it)dudin8 FRS 102. sybje¢t to atty mateTia] depar disclosed and ¢xpl8ined ITh the financial statancn state whether a Statement of Re¢oJllnendd Prartic¢ ISORP) applies attd h8s been follow¢4 subjert w any matrrial departur¢5 wbich are ¢xpl8itied in the sutem¢n ' mAke judgetnents and estimS that we reoson&bl¢ and pnbdert ' pr¢pwe the fDC1 •8oin8mKan b•is unl¢ss 1¢ is to presume th¢ th8rity will coniinue in busin¢s5. The tNstee5 8r¢ rts)nSIble for keepin8 prow accowiting rdS disclos¢with re•6onable occurw ot any lim¢ the financial position of the charitable company and them to rnsure th81 th¢ fu)8nci81 swem¢nts comply wth the Companies Aci 2006. Th¢y aTe ttsponsibl¢ for s8fegufirding the &qsets of the cltle paTry and hence for tsking r¢a$Orle steps for th¥ pr¢v¢ntion grtd dd¢dion of frgud and other itte8ularill¢S. Each of the peTSOnS who is * trwiee at the d•Je of wroval of this Y¢FXt Conflnm that - $0 far a5 the trustee 1$ 3war< ihere 1$ no rel¢v*rtt audit infornutioD of which th¢ Ly)rop8ny'$ auditor is wiawart; ond - thc trustee has tak¢n ail the steps W5he ou8hl to Ve t8k¢D &8 a dir¢clor in order to mamak¢ himselflheT5elf •war¢ of any T¢levant audit in(iJMj1on aDd to ¢sthblish that the awliior is awwe of that inf0mtIOn. This Teport has be¢n prepared in with the SP¢CiAI provisions w¢118t0 th11 comp&Dies within P8rt 15 of the Componies Ad 2(K)6. Approved by the Trnstets on"........... ond signed on its behalf ty.... Romie Tager, Trustee
INDEPENDENf AUDrroR'S REPORT TO THE TRusfEES OF SOLEV CO. LIMrrED FOR TIIE YKAR ENDED Jlst MARCH 2024 Opi#lon Wc hav¢ 8uditrJthe finaKiaJ st8tuNtsts of Solcv Co. Lirnitrd (tr ¢I)mpY'l forthe>r8r 31 Marth 2024 whi¢h cot))pris¢ the Stat¢ma)i of Finan¢ial Activiti¥ the SumDMry Incomc and EXDdIti Ac¢ouDL the Bakncc Sbeet 8Thd notes io the fujoncial 51atcmcnL%. in¢ludirt8 SigDifi(%nt accoth)tingpTrlicie& Ther11 rqthing th&h&% bcul Jppli¢d in theirpreparation is applicllble i&w and Unitsj Kild0M AccouDting StaDd8rd& iDcltyJingFRS 102'lthc bin80¢i81 Standd Appli¢abl¢ th¢ UK and Republk oflye1aT. (United KingdomGu• Awed Aco)UDting PtIce). In our opinion thc S¢•teM.. give 8tyue and fair view of the state of th¢ clmitsbk c•y'S affairs 29 * 31 March 2024. and of its iDtonllng re50U and wlie&tioTh ofre50wc&K the yvr thux cffjded. havE bew ryowly prcpAred in aLtordathce with Unitrd Kiugdom Gcnmity ActtM¢d Acwmlin8 PracticK and B•ils tor oplnloD We ¢ondu¢ted our audi¢ in rcoTdancc with kntrm8thonAI ¢Aandarts 00 Audilin8{UK) (ISAsIUK)) and applicabl¢ 18w. Our responsibilities und¢r those stsndards ¢ deKrilKd in the AditLY'S iliiic5 fw the 8udii of the fLn8ncia] ststyllcnts 8e¢tion of our repon. We arc ind¢rthdeJJl of the cban'tsbl¢ COTnpany in a¢£wdgntt with thE ¢thial rtquint)¢nts thal art rei¢vantto our audit of the fthan¢i•l 5thtcments irl th¢ UK in¢lwding th¢ FRC'S FAhic418tsTthrf aThJ have fulfilled our othcr cthi¢41 r¢spoDsibili(ies in aG¢oTdwrt¢c with the5C rtquir¢m¢n& We b¢li¢v¢ tha¢ thc wdit ¢vid¢Dcr c ha obthined is wtTKient and 8PPTOPri8t¢ to Provide a bl$fr ow opini CoA¢lus100s rtlltlni to iokni eoM¢ern In audiiitiB the hawe ¢oKlutsJ ththe TnJa¢d w of the 8ob)ge4Mwn b1$ of ITh the pr¢p¥a¢ionofth¢ rman¢1 ts wowi• B•1 on th¢ work we have perfomxd we h8ve 1 ideniifi¢d IDY mwcria] Un¢¢rtai reItiting events or condilhons th&L individually OT collcdivety. may cast SilfIeI doubt on the ¢huiry'S thility kn contsnuc a going ¢onc¢m fora pd of le&%¢ ¢wclve tTh)nths from when the f1ttl sye issu Our TeSPOn8ibilhi¢5 alld theresIbilitieS ofthe tnKs1th going are d¢xriboJ in the relevant s¢ction$ of this rerrt)Jt other Informtiom Th¢ other inform10 COTfor8C5 the inf0rnM in¢ltylrAJ ID theattoy rerrf otherthan the stat¢m¢nts and our audiwr's r¢port thcr¢on. Tr trUSt¢es LT¢ fe5ponsibie forthe oth¢r infonnWiOD. OuropiDion onth¢ fJnncial statunctlts do&% not cover the other InfOnT1V and. vb¢OPtto th otherwisc explicitly stht•l in wrTeporL we do no¢ ex%95 tyy fonn of t85uran¢e eon¢lusion thereth. The other infvrnwott ¢ompris¢sthe iDformati¢Jn iticludul in the 8Dnl rewl oth¢rthaD th¢ futhftcial 3tlltenKnlS our allditor's report thcr¢on. The trusts &re rrsFM>Dslh >lc fortht other inforniM cotsts1r withiD the annual rcport Our oplnion on tht finan¥ial 5wtrm¢nts doc5 t)otcovcr theothtr inflnon ¢xcO to the rxtthi oth15¢ cxplicitty in OUT let w¢ do not XPTess Any form of8s5uran¢¢ cisnClus thuew. Our responsibility is to read the oth<f infiKmtsoAw¥l in doIngr01der whetherth¢othtt infornlltion is materialty incon8iStenl with the fan¢1 stht¢mEnL5 or w ksjowltdge obtsiftul ID thc cours¢ of the audit or Othe7 appe4r5 to k rnatrrialty missttted. If we identify Such material inconsisleJKi¢s or appweThtn1al wc•rc 1fqu1T to detcrminc wh¢thcrther¢ is a matcrill misstatement in the fittaTL¢ial statrryKAts thcnwlve& Ir, b1 on the w(wk w¢havtFoftt we cooclud¢ thNi thrfe is &m&trrial rttisstatcmtritof thisoth¢r lftfonDatio wc •re wquir¢d to ryort Wc have nothin8to yert in this Oplnions other •tt¢n presthbed by the Companies Art21W]6 In OUT opinio]L b&%ed on the7th in the ¢e0f the•it ¢onsSSteDt withthe firtan¢1 and
INDEPENDENT AUDOR's REPORT
TO THE IRUSTKES OF SOLEV CO. LtrltfED
FOR ThE YFAR ENDED 31# MARCH 2024
MatstTS on hicb we Ire rtqulr¢d to Ttprt by exuptml
In the lighi of theknowltyl8eand urgOr the ¢oD¥my 2ryJits t4viron Obtsin in the of th a1( we hav¢nol id¢ntifir4J
We have nothinxto Én rnTe¢t of the foiknwiD8 m•ttas thecomwits 1[¢5 Usto report to you 1£ in our opinion".
visitcd by us" OT
. the fal swem¢nts 8rcnot in amrthtwiththe acc( Ttwds and
.£¢rtain dis¢losuM of trustee5' 1cmuneI0tt speGified by law are nol mwJ4 or
-we have Em>tr¢1¥ed all the infom10 and explaDaiion$ we 1¢ for our audiE or
. the trusteey wer¢ not ¢ntid¢d to prEpre the fitw¢thl sTrternrnts X¢ord8C with thE smll ¢OmPleS rEgime Jnd tyke
advHnta8e of thc small companies ex¢mption ID •D)&th¢ frfffl •itig 8 5ty8tegi¢ rcpoTL
RoMpoMiblllfi# ofTh• Truth
AsexplaiDed more fvlly in the trwieu. r•l>iJiiies statuwbi St OD p4e4, the tr(whO fjre also th¢ diredors of th¢ charitable
Company for the PUTFA)ge5 of comwy law) are Tcstthsibk forth¢ prepiiali¢)n of the fwanciDI sents 4nd for b¢ing tiSfied that they w've
atsue 8nd fair View. attd for such intern cLmtrtsl the tr¢¢$ detcrniin¢ L4nxc&$ to u¥ble prwwation of fiDan¢ig1 that
In PTtpwln8th¢ financial statttnett th¢ trtES •rewThk foT a$the thitsbk company's 4bility to coirtinu¢ 8oing con¢ern,
dis¢lo%ing, a5 wli¢abl4 maws related to 8oin8concem •nd thcgoing coaeun bAW of accountstig unies8the trUSte).
Audltor'l Tewniibllldm for tht ld of th¢
Our objectives ort w ¢Jblain ff&4wbl¢&8wT•tt¢¢ as a wbole &Te fttt from rnwial mi55tatctrtnL
whcth¢r due to fraud or error, Jnd to iSgLe auditor's rcwjrtthal irKludes ouropinion. R¢4ymable wuranc¢ 15 a bigh level ofwuran¢e. but
is no¢ a 8uar¥nke that aD AudiiLydvthJ iti acc(thce with ISA${UK) will 2Jwoy5 d¢tciX a m8trriaJ misstst¢rrni when it exists.
Misstat¢ments Ln arise frtyn frnud or t¥1 and COlded if, individu41ty or in 4rnal4 thcyeouid rt4sonably k exp¢¢tcd to
int)u¢ncc the ewlomic decisiong of OD th¢ the9e
A5 Part of fjn audit in &<ordw with TSAS (UK) we¢xau jtylg¢wuii •Thl uthit PTof¢ssiong1 gcepti¢iyn throughout thc
audit. We also..
. Identify and ss8¥ the rlsksof mtiter1 mis#0f th¢ fiyWici Whetherd to frBud or ¢rror. design 4nd p¢rform audil
pro¢cduTes T¢SFAX)siv¢ th05¢ and obtsin audit d¥¢that i8 &l¢tituftd wpriato provide a knis for our opinion. Th¢
risk of ry)t dctedin8 a Materi Mi55tht Ttsultin8fmm frwyj ishi8hff thErt for on¢ rtsultiTrg fromerror, fiwml MNY involve
¢ollusiot4 forg¢ry, intcn¢ional Omissity Mis¢[rfr8 or theovurlde of iDt¢rndctr0L
- ObtskD 8n widErSts1Thg ofititertt ctyltsvl Tel¢vBrtto th¢ wjdit in Order dc5igtL prrfduresth are appropTiJtr in thr
circutrthatLr btst not for thc purp(y¢s of fxPfEssll?Th Opini the ¢ffedivert95 of th¢ clthritsble compllny's innl control.
bythe trUSte¢s.
. Concludc on th¢ approprIat¢n ofth¢trustee5' ofthe going t45is of a¢coumingsn4 bh on the audi¢evidencc
Obtaine whether a mJteria] uncettsinty exiX8 ttlated to w¢onditioDsth&tmby caa sigriChnI dollbt OD the cl)aritthle company'5
ability to continlle &9 & goingeonctrn. If weconclude that artmtlI] uttcJtsinty cxiA% wcart reqllirnj th?w aitErttioD in our auditor's
repDrtto the related di4¢105WC5 in the fjllad stern¢nts or. if suthdi5c105Utcs are inadffju&4 to m(yJify our opiniort. Our con¢lusi)ILS
8T¢ bawl on the JLLditcvidence obtsincd up to th¢daie of our auditor's However. events or ¢ondilions Troy cause th¢
ctwitable cowanyto ct4se to CO1n *8 a gyjingconctm
. Evaluate the overnil prewtst10 Stru¢waT cthrtcnt of th¢ fm8nci81 ststctrtnty incllldiDgthe disclosurt& aThl wh¢thwthe finwKiBI
INDEPENDENf AIJDrroR'S REPORT T0TH£TR OV sOv CIX LIMfTKD FOR THE YEAR Ef4DEiI 31st MARCH 2D24 ntjes. Jndudm8 fr•u¢ &Te of trMplInc law8 Wo inlin¢withipJrrwibiliw. dccbng irt¢8uiaTiti¢4 froud 1$ &lAdlel0w. to oblaJrLiufti¢i¢Dt wopnJLe authi ¢vi&DC¢ wdn$kJ to frtwL through &siw8¥Dd impLem¢DtLDg tUP)DXS to to u&aDoof fiwjd fr1 Jdeniificdthrthg Our wo as follow'. $iwfit4rt trethe Compwes Act 20(& Ad2011. SORP, andUK f1 issutsj by th¢ Fina11 Reprytsn8 c11. . W¢ 8s%5scd the n5k ofrDatrthl ofthe •1¢1 irnatythll8theTi5k ofm441 th DDn-compli•nce with l•w8 •ndT¢ul#ityv. ¢videnc¢ are ItIlMt ID W¢¥eks8 l&ely ttwlrc 0focw0mpliz with lllws d rt8ullltion¥ thpt ar¢ no¢J05¢1yrtiatedw •MI •1¢plrrfkdJ ID th¢ 51trDlts. Al80. the Twk detediK8 a mawiol sstat¢DiCDI itr to fTJud 1$ b1gberth th¢mk rtsuiuD8 fm m. u frNlJMy itivol delibcr•tr tm¢T by. frx exhmple. for&¢ry Int11 iTv ofnr r¢prt Tblj M¥th• 4bt•ty. irL ChJpt¢r3 of Part 16 of tr¢ COMPAD Ad 2006. Ow audit work b¢¢n YA) th•t totr e(rftspw It •r• t• tn hern in •n Aiidiior'& ryTht and forDo oth#puTPW To th¢ fuUes(¢Xtrth FKfthLtsJby IAW. or4synn¢ ¥eswLsibilityto Illy pzrty th than chant&bl¢ tompaoy atsd Gbori¢abLesxw$0%Wb¥ 18 •lY. tsthiiryn ot the OPJDiOtts hiv¢ formcd ocrt t£Tr LLP Adam Fuilertmi IStDlor Stiu¢Ory AlIor} tOT and 00 kneb#lfof Mwr• Klwtox Smith LLP St*tstory •udltor 9 Arwldstreet ECIA 2AP DAtè.' 28 Fèbruary 2025
VOR THE YEAR ENDED 31sr MARCH 2024 G¢Dtral Fnttd 2(124 Totsl Funds 2024 Totsl Fund$ 2023 INCOME AND ENDOWMENTS FROM: 299.538 2W.538 299,538 317972 317 972 Investment inwme TOTAI, INCOME EXPENDrruRE ON: Raising funds Chlble aLtivities TOTAL EXPENDITURE NET INCOMFJ(KXPENDIIIJRE) AND NET MOVEM IN FUNDS RECONCILIATION OF FUNDS Totsl ndS brou8ht forward as It i# Awil BALANCFS CARIUED FORWkRD AS AT 31st MARCH 2024 147 79,167 79.314 l47 79.167 79J14 39.635 314.664 354.299 220324 220224 (36J27) 05 5 959.832 5 923 505 5 923 6 143.729 6 143 729 5.923 All Jmounts reet0 C4)ntitiUiD8 activiti¢S.
BALAN SHEET AS AT 31ST MARCH 2Q24 2023 CiIRRENT ASSETS Debtors Cash ht B8nk 6.153.908 19.761 5.924,671 6.173,668 5.970,808 CURRENT LIABILITIES Credilor5- fallin8 due within (tt ye 47.303 6 143 729 5 923 305 NET CURRENT A&SKTS Tot•1 Asmts Iw ¢•rY¢ttt Il•bllitl 6.143,729 5,923505 143,729 5 923.505 NET ASSETS UNRESTRICTED FUNDS G¢rttral Fund 5 923 505 143.729 Approved by the Trus¢e¢s atNI wthtyig¢d for OD: and si1 on its belf by.. TnLStee Romie ager
OTFS TO ThE FINANCIAL STATEMEMS FOR THE YEAR ENDED 31ST MARCH 2024 I ACCOUNTING POLICIFS (#) Bs$ls of Pr¢pr4tio• The financial sthternts have b¢¢n pryred in ar(rt with the Financial Rt¥ Stsndard applicable in the UK and RepublÉc of Jreld (FRS 102). The Chtrrty is a public bettfft entity for the purwjses of FRS 102 artd therefore the Charity liso prepared its f]nancial statenxrfs in accordance the Stnrt of ReconvrKIal Practi applicabl¢ to charities preporingtheir accounts in accordae with the FinwKial Reporting St4nd8rd applic4ble ID the UK and R¢publi¢ of Ireland (The FRS 102 Cljarities SORP). the Comkwni¢s Act 2(rf)6 and the Th8rities Act 2011. The financial statcments 8r¢ prepared in thrlin& which is fiw111 of thE chaTiry. Motxtsry 8m04mts in these ri]wiGi81 st&tem¢nts ar¢ rouTyJed to th¢ nearest uTh. Th¢ PTincip818¢¢ourth8 polici¢J thpted iti th¢ wepwrntion of the filmnci ate set out below. (b) Fund Strnct•r¢ The QeDeral Fw)d 1$ a fimd which th¢ Trustees aT¢ freeto ug¢ in 8Lt{ffdwlth the dwitable obi¢LXs. (e) Ikcome All income 1$ rOlS¢d In the St4iertKrt of Finwid Adiviiies (SOFA) th the condiuons for rec¢iO have be¢n nxl the Jrrlount is ITrable and receipt is probable. Inve$tmtnt incom¢ Investment income is rwiis¢d in the SOFA kn wivable. (d) ExpeDdltllr¢ Liabilit1¢5 are re0)lS¢d L8 ¢xpenditur¢ &8 SOC gs thue is a lyl or cons(ructiYe obli8aiiott C4Nnmitting the chpriry to the expenditure. All ¢xpendhtur¢ LS awunted for on 8n accruals b&8is and has classified under he4dinss thai ag8re8at¢ all c¢Jsts T¢lated to th¢ ¢at¢gory. Th¢ followin8 a¢tin8 policies are applid to the differEnt categories of expcnditur¢: Ch8rltAIAe A¢tlvlti Grants payable are reco8nisAI whffitlw ue aFvoved by th¢TnL¥e¢s the T&ipi¢nt of the 8r4Dt h8 been infomed f the #mount to be paid. SPpOrt eosty Support costs ilde central fUtIOns and lve been allocated to adivity Cost categoties on E4 basis consistenlwith the use of Tesour¢es, for ¢xatwJl< allLKatin8 Costs by tlow or peT staff costs by the time spent other ¢osts by th¢ir usa8e Gov¢rn#tyte Costs GovernAnce ¢0sts ¢ornpriye ¢J)#s involvir8th¢ publi¢ ac¢4xlltsbility of the clwity 8nd its compliance with regulation artd {e) Going eontern The TnLSt¢es have whets the we of the going COTKern b&sis is appropriate has ¢ortsidered possible events or cortditio that might cast significant doul on tt ability of the clwity to CODtinue as a going concern. The Trustees have rnwje this &5scsynent for 8 wiod of at l onc yew from th¢ d* of approval of the fin&n¢ial statcm¢nts. Aft¢r making enquiries the Tr1¢¢5 have Goncluded thatthere is a re&g)n&ble expedatioft thfitthe charity h&% adequate r¢sourtts ts) ¢ontinu¢ in operational existence for the fortse¢abk firture. Th¢ chprity thuefore &)ntinues to adopt the goiTLg conc¢m basis in prepanng its finan¢ia] 5tstement P4¢: 10
C(k IAwilTd FOR THE YEAR ENDED 31sr MARCH 21)24 I ACCOUNrtNG POUCtES Icfj#tiB•d) (D Fittan£ll InstrunKDts The charity elected to appty the wovisiorfj of sti I I 'B85ic FiDwKiai of FRS 102 to 811 of its financial s¢ttlemtht valu¢. (g) CJh Ind e4sh eq•iv•lents C and cash equi¥ents irtclwle in harf d¢F)sits atll with bfin othu short4erni liquid investment with original maturities ofthree or le&8. (h) K¢y Estlmates Judg¢m•nts ID prepBring flnancial statements it ts n¢c¢w to make catsin judgn eim&tes •ssuWions that affect the amounts re¢ognised in the finwial statem. lnthe view of the Tnjstees irt apptyin8the aC¢thmts pliiS adcot¢d no jtre requhred that hv¢ a Sl8nifJcant effKt on the aTMunts r#ogniwJ in th¢ financial Ststents do aDy or assumptio m•de wry
significant risk of m&t#iAI Jusme ID the n¢xt y¢•r.
Atv Cth UAittd NOTFS TO THE FINANCIAL StATEMENts (coNfiNUED) FOR ThE yER ENDED 31sr MARCH 2024 2024 2023 2 INVESTMENf INCOME 299.538 317972 Oth¢T inv#stment incont 21124 2023 3 COST OF RAISING FUNDS 147 Loan inttr¢5t 4 CHARABLE AcrivrriFS The charity awarded dtimlionsto a Aumberof inststtrtiorts in of its clwitsble a¢tsviti¢s. 2024 2023 6.250 84,700 7.500 15,000 5,000 8,400 3,D)O 10,500 16.500 7,800 18,000 36,850 Brrfil$h Frfendf Bar l&m Camp Simcha Chal Cancer Coye Hotsolah Inlernational Beth JAMJ Jewlyh Car¢ LV. New Isn*1 Fund Norwood RimonJewtsh Prthary Schod Chth7table Tnul The Lijo Wtnsl(M Fellowships Th8 PTI Stuhl hlémorlal rEvini Ltd The R¢hdbiliiarion Trnsl Iyorfdjfwish Reli¢f Y4.Ihqva Adler Memorial 5,(M)O 5,500 3.000 5.000 s.crfJo 5.0 3,000 5,000 34.620 62,057 ¢Jrants < £ISCK) 70 298,807 Suppjrt Bnd gov¢mat 5) 15 97 79,167 15.857 314,664 S SUPPORT AND GOVERNAIYCE 2024 2023 57 B8nk clw8L8 Governance wsts Ac¢ountin8 ¢lwg¢s Audit fees 2.340 12,900 2.880 12,900 I97 15,857 12
NOTES TO THE FINANCIAL STATEMEIYTS (CONfiNUED)
R YEAR ENDED 31ST MARCH 2024 6 STAFF COSTS 2024 2023 7 DEBTORS 6,153,9)8 6.153.8 5.924 671 5,924,671 Other debto 2024 2023 8 CREDITORS Du• wlthits on* yr 32,603 14.700 Other creditorn Accnmls 29,940 9 ANALYSIS OF NET Assrts BETWEEN TrVNDS G¢rternl Fund Total FllDd9 2024 21J24 Cumth¢ year. Current Assets D¢btors Cash & Bank 6,153.9)8 19.761 6.153,908 19,761 {29,940) Creditors due within one y {29.940) 6 143 729 6 143 729 Totsl Fund 2023 Total Funds 2023 Prlor ye•r: 5,924.671 46.137 5.924,671 46,137 DebtOT5 C35h & Battk (47.303) (47,303) Cr¢ditors dur within y 5 923.505 5,923505 Total Page: 13
NOTLS TO THE FINANCIAL sfATEMENfs ICONllNUED) FOR IHE YKAR ENDED 31ST MARCH 21124 10 RKLATED PARTY TRANSACTIONS During the ye4r the clty mad¢ the follow [¢l&t prty trans¥ti.. Pidom Export Unjited The eomFwny is related tts Pidom F40rt LimityL &¢ompw inThi¢h Mr KTagv. Mr SJ Tager and Mr JP Tager r¢ directors in the ¢urrellt 8tMI previous ye4r. Interest is receivcd under the of a Iofin SWI1 the cowoantes ata rate of 5%per antsur Th¢ Intert for this year £276.951 (2W23- £307,433). This IrAn is seen by th¢ dire¢tors u 8 way of investmenl or surplus fimds that will b¢ requId fw charitsble proje¢ts in thc fthTe M)t imMy. At th¢ balance sh¢et date the arnoum due from PidoniExw¢ Limitrd was £5,7W.038 (2023 - £5.493.087). The whole of the outstsnding anN)unt due on the lom to Pidom Export Limited •nd by Fairostle tttd, {als0 * rel8ted party by virtue of the saEM mmOn trUSteed1rt(oj has been repaid by Fair¢ Ltd tr its guarant¢e since the balance sheet datr. HAtslocho Llmlted Th¢ Company is relat to HatrIOd Limit¢d thi¢h ij ty)thlled by the Spo}9 of the Tw family trustees of Stslev Co. Ltd. Interest of £147 (2023- £39.635) w dwr8ed to the charity by H&ttlocho Limited in the year. At the balfi she¢t dA¢¢ InMxt due to H8tsIO¢ Limid was £nil (2023. £31603). Th• Brlil•h FrfeTrd$ of Br•ll*n Unlvenlty Durin8 the year the charity rnth 8rants of £625012023.. £84.700) th British Friends of Bgr Ilan University. Mr R Twr is a tnlee of British Friends of Bar Ilan Universiiy. AI TRANSAcfioNS wmi TRusfEFS No TNstees reL%ived r¢muneration durin8 the year orthe wioryear. No eN)ais¢s reimbursed tsu4tegs in the current or prior yur. 12 COMPANY ATUs The Charity is 8 company limited by 8uarall ¥twJ Iws shfir¢ ¢apital. In the of the ¢htirity 1$ wound up. the lbilIty In resp1 ofthc suarA[tt ia limit•d to £1 w rtmbtt of the clwity. 13 CONTINGETrrt LIABILTTY There is an ongoing HMRC enquiry into th¢ ¢hrity'stsX affahrn As th¢et¥4Uiry is 001ft8 the find otstcome is unc¢rtain 8nd ai this stsge 8ny #dditiotial liabiliti4 l¢b could I11c pNHIti¢s. are t nurable. P. 14