COMPANY REGISTRATION NUMBER: 00999987 CHARITY REGISTRATION NUMBER: 262170
Koleiss Zedokoh Limited Company Limited by Guarantee Unaudited Financial Statements
5 April 2021
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Koleiss Zedokoh Limited
Company Limited by Guarantee
Financial Statements
Year ended 5 April 2021
| Pages | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 to 3 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 to 14 |
Koleiss Zedokoh Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 5 April 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 5 April 2021.
Reference and administrative details
Registered charity name Koleiss Zedokoh Limited Charity registration number 262170 Company registration number 00999987 Principal office and registered Heaton House office 148 Bury Old Road Manchester M7 4SE The trustees H Weiss R Ollech P Kohn Z Weiss B Weiss (Died 29 October 2020) Independent examiner D Schwarz FCCA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Structure, governance and management
Koleiss Zedokoh Limited is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 18 January 1971 as a company and the company number is 999987. It was registered as a charity on 5 March 1971 with a charity number 262170.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
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Koleiss Zedokoh Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 5 April 2021
Objectives and activities
The objectives of the charity are:-
a) to foster, assist and promote the charitable activities of any institutions professing and teaching the principles of traditional Judaism
b) to advance religion in accordance with the Orthodox Jewish Faith
c) to give aid to and support needy persons in general.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to charitable institutions and organisations which accord with the objects of the charity.
Investment Policy
The Trust Deed authorises the Trustees to make and hold investments using the general fund of the charity.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
During the year a total of £23,850 was donated to various charitable institutions in accordance with the objects of the Charity.
Financial review
As at 5 April 2021 the charity held reserves of £1,055,370 (2020:£982,098).
Reserves Policy
The Unrestricted Fund represents the unrestricted funds arising from past operating results.
The trustees are satisfied that the balance of the Fund is an acceptable level of reserves. It is the policy of the charity to hold investments sufficient to generate the average annual grants made by the charity. For this purpose, reserves are maintained to enable the charity to take advantage of any possible investments arising.
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Koleiss Zedokoh Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 5 April 2021
The trustees' annual report and the strategic report were approved on 2 February 2022 and signed on behalf of the board of trustees by:
H Weiss Trustee
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Koleiss Zedokoh Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Koleiss Zedokoh Limited
Year ended 5 April 2021
I report to the trustees on my examination of the financial statements of Koleiss Zedokoh Limited ('the charity') for the year ended 5 April 2021.
Responsibilities and basis of report
The trustees are also the directors of the company for the purposes of company law are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
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 charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements 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
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the financial statements 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.
D Schwarz FCCA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
2 February 2022
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Koleiss Zedokoh Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 5 April 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Investment income | 5 | 98,408 | 98,408 | 124,646 |
| ---------------------------- | ---------------------------- | -------------------------------- | ||
| Total income | 98,408 | 98,408 | 124,646 | |
| ============================ | ============================ | ================================ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | 25,136 | 25,136 | 19,949 |
| ---------------------------- | ---------------------------- | -------------------------------- | ||
| Total expenditure | 25,136 | 25,136 | 19,949 | |
| ============================ | ============================ | ================================ | ||
| ---------------------------- | ---------------------------- | -------------------------------- | ||
| Net income and net movement in funds | 73,272 | 73,272 | 104,697 | |
| ============================ | ============================ | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 982,098 | 982,098 | 877,401 | |
| ----------------------------------------- | ----------------------------------------- | -------------------------------- | ||
| Total funds carried forward | 1,055,370 | 1,055,370 | 982,098 | |
| ========================================= | ========================================= | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 14 form part of these financial statements.
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Koleiss Zedokoh Limited
Company Limited by Guarantee
Statement of Financial Position
5 April 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Investments | 13 | 1,080,246 | 1,022,048 | |
| Current assets | ||||
| Debtors | 14 | 12,812 | 11,531 | |
| Cash at bank and in hand | 74,920 | 59,917 | ||
| ---------------------------- | ---------------------------- | |||
| 87,732 | 71,448 | |||
| Creditors: amounts falling due within one year | 15 | 112,608 | 111,398 | |
| -------------------------------- | -------------------------------- | |||
| Net current liabilities | 24,876 | 39,950 | ||
| ----------------------------------------- | ----------------------------------------- | |||
| Total assets less current liabilities | 1,055,370 | 982,098 | ||
| ----------------------------------------- | -------------------------------- | |||
| Net assets | 1,055,370 | 982,098 | ||
| ========================================= | ================================ | |||
| Funds of the charity | ||||
| Unrestricted funds | 1,055,370 | 982,098 | ||
| ----------------------------------------- | -------------------------------- | |||
| Total charity funds | 16 | 1,055,370 | 982,098 | |
| ========================================= | ================================ |
For the year ending 5 April 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 2 February 2022, and are signed on behalf of the board by:
H Weiss Trustee
The notes on pages 7 to 14 form part of these financial statements.
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Koleiss Zedokoh Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 5 April 2021
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 Heaton House, 148 Bury Old Road, Manchester, M7 4SE.
2. 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.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported at the year end.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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Koleiss Zedokoh Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2021
3. Accounting policies (continued)
Incoming resources (continued)
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
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Koleiss Zedokoh Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2021
3. Accounting policies (continued)
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments in joint property syndicates
This represents capital introduced by the company into the syndicates plus accrued surpluses less deficiencies but without revaluing the syndicate properties.
Some of the syndicates in which the company is a participator have borrowings which are secured on the syndicate properties.
The company accounts for its syndicate investments under the 'equity accounting' basis and thus the company's share of such borrowings are not included in these accounts.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by guarantee
The charity is a company limited by guarantee and has no share capital.
5. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Income from investment properties | 98,408 | 98,408 | 124,603 | 124,603 |
| Bank interest receivable | – | – | 43 | 43 |
| ---------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| 98,408 | 98,408 | 124,646 | 124,646 | |
| ============================ | ============================ | ================================ | ================================ |
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Koleiss Zedokoh Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2021
6. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Charitable activities | 23,850 | 23,850 | 18,640 | 18,640 |
| Support costs | 1,286 | 1,286 | 1,309 | 1,309 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 25,136 | 25,136 | 19,949 | 19,949 | |
| ============================ | ============================ | ============================ | ============================ |
7. Expenditure on charitable activities by activity type
| Grant funding | Support |
Support |
Total funds | Total fund | ||
|---|---|---|---|---|---|---|
| of activities | costs |
2021 | 2020 | |||
| £ | £ | £ | £ | |||
| Charitable activities | 23,850 | – | 23,850 | 18,640 | ||
| Governance costs | – | 1,286 |
1,286 | 1,309 | ||
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | |||
| 23,850 | 1,286 |
25,136 | 19,949 | |||
| ============================ | ======================= | ============================ | ============================ | |||
| 8. | Analysis of support costs | |||||
| Analysis | of | |||||
| support costs | ||||||
| activity | 1 | Total 2021 | Total 2020 | |||
| £ | £ | £ | ||||
| Governance costs | 1,260 | 1,260 | 1,260 | |||
| ======================= | ======================= | ======================= | ||||
| 9. | Analysis of grants | |||||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Grants to institutions | ||||||
| Belz Merkaz Hatorah | 2,000 | 18,640 | ||||
| Choimel Dalim | – | 2,000 | ||||
| Deleine Ltd | – | 5,000 | ||||
| Shalsheles | – | 2,610 | ||||
| The Tsechenov Institutions Trust | – | 1,500 | ||||
| Yetev Lev | 5,850 | – | ||||
| Zorea Tzedokos | 10,000 | – | ||||
| Other Grants | 6,000 | 7,530 | ||||
| ---------------------------- | ---------------------------- | |||||
| 23,850 | 37,280 | |||||
| ---------------------------- | ---------------------------- | |||||
| Total grants | 23,850 | 37,280 | ||||
| ============================ | ============================ |
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Koleiss Zedokoh Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2021
9. Analysis of grants (continued)
The above grants were made to institutions and went towards the following purposes; the relief of poverty, relief of those in need by reason of ill health or disability, the advancement of Jewish religion and the advancement of Jewish religious education.
10. Independent examination fees
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,260 | 1,260 |
| ======================= | ======================= |
11. Staff costs
Nil
Nil
The average head count of employees during the year was Nil (2020: Nil).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
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Koleiss Zedokoh Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2021
13. Investments
| Investment | Other | ||
|---|---|---|---|
| properties | investments | Total | |
| £ | £ | £ | |
| Cost or valuation | |||
| At 6 April 2020 | 4,227 | 1,017,820 | 1,022,047 |
| Additions | – | 53,507 | 53,507 |
| Fair value movements | – | 98,126 | 98,126 |
| Other movements | – | (93,434) | (93,434) |
| ----------------------- | ----------------------------------------- | ----------------------------------------- | |
| At 5 April 2021 | 4,227 | 1,076,019 | 1,080,246 |
| ======================= | ========================================= | ========================================= | |
| Impairment | |||
| At 6 April 2020 and 5 April 2021 | – | – | |
| ========================================= | ========================================= | ||
| Carrying amount | |||
| At 5 April 2021 | 4,227 | 1,076,019 | 1,080,246 |
| ======================= | ========================================= | ========================================= | |
| At 5 April 2020 | 4,227 | 1,017,820 | 1,022,047 |
| ======================= | ========================================= | ========================================= |
All investments shown above are held at valuation.
Investment properties
The investment properties are stated at market value as per the trustees valuation at the year end.
Investments in joint property syndicates
Other Investments are joint property syndicates. This is comprised of capital introduced by the charity into the syndicates plus accrued surpluses less deficiencies but without revaluing the syndicate properties.
14. Debtors
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Other debtors | 12,812 | 11,531 | |
| ============================ | ============================ | ||
| 15. | Creditors: amounts falling due within one year | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Accruals and deferred income | 2,610 | 1,400 | |
| Other creditors | 109,998 | 109,998 | |
| -------------------------------- | -------------------------------- | ||
| 112,608 | 111,398 | ||
| ================================ | ================================ |
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Koleiss Zedokoh Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2021
16. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 6 | April 2020 | Income | Expenditure | 5 April 2021 | |
| £ | £ | £ | £ | ||
| General funds | 982,098 | 98,408 | (25,136) | 1,055,370 |
|
| ================================ | ============================ | ============================ | ========================================= | ||
| At | At | ||||
| 6 | April 2019 | Income | Expenditure | 5 April 2020 | |
| £ | £ | £ | £ | ||
| General funds | 877,401 | 124,646 | (19,949) | 982,098 |
|
| ================================ | ================================ | ============================ | ================================ |
17. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Investments | 1,080,246 | 1,080,246 |
| Current assets | 87,732 | 87,732 |
| Creditors less than 1 year | (112,608) | (112,608) |
| ----------------------------------------- | ----------------------------------------- | |
| Net assets | 1,055,370 | 1,055,370 |
| ========================================= | ========================================= | |
| Unrestricted | Total Funds | |
| Funds | 2020 | |
| £ | £ | |
| Investments | 1,022,048 | 1,022,048 |
| Current assets | 71,448 | 71,448 |
| Creditors less than 1 year | (111,398) | (111,398) |
| ----------------------------------------- | ----------------------------------------- | |
| Net assets | 982,098 | 982,098 |
| ========================================= | ========================================= |
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Koleiss Zedokoh Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2021
18. Related parties
Included in other debtors are amounts due from the following charities whose trustees are also trustees of this charity;
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Localtrent Limited | 11,500 | 10,500 |
| Other Creditors include amounts due to the following charities whose trustees are also trustees | ||
| of this charity; | ||
| 2021 | 2020 | |
| £ | £ | |
| Beis Yoel | 35,000 | 35,000 |
All the above loans are interest free and repayable on demand.
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