COMPANY REGJSTRA TION NUMBER: OIIK121K)8
CHARITY REGISTRATION NUMBER.. 262185
BALSTRAW LIMITED
CoDipany Llmited by Guarantee
UNAUDrrED FINANCIAL STATEMENrs
31 MARCH 2024
COHEN ARNOLD
Chartered Accountanls
New Burlington House
1075 Finchley Road
London
Nwii OPU

BALSTRAW LIMITED
COMPANY LIMITED BY GUA114NTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
PAGE
Tru5tees' annual report (incorporating th¢ director's repori)
Independent examiner's report io the Inistees
Siatement of financial activities {including income and expendilurc
account)
Statement of finaT)cial position
Notes to the financial statement5

BALSTRAW LIMITED
COMPANY LIMITED BY GUARANfEE
TRUSTE￿, ANNUAL REPORT ONCORPORATING THE DIRECTOR'S REPORT)
YEAR ENDED 31 MARCH 2024
Thc Irusiees, who are also ihe direcior5 for the purposes of company law, presen( th¢ir report and ihe
unaudiicd financial sta(eJ])ents of the charity for the year ended 31 March 2024.
REFERENCE AND ADMINISTRATIVE DETAIIS
Registered charity name
Balstraw Limited
Charity registration nllmber 262185
Company reglstrgtion number 01002008
Principa] 0￿1CC and regfistered New Burlington House
office
1075 FinLhley Road
Lknndon
NWII OPU
THE TRUSTEES
Mr Leslie Frankel
Mrs Zisi FTankel
Mr Jack Frankcl
Mr Joel Frankel
Mr Ephraim Frankel
Mr Maurice Moishe Frankel
Mr Laurence Allan Foux
Mr Winston Samuel Gilbert
(Resigned 15 Octobcr 2024)
(Appointed 22 February 2024)
(Appointed 22 February 2024)
COMPANY SECRETARY
INDEPENDENf EXAMINER Dov HaThis FCA
Mrs Zisi Frankel
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charily is consiituted as a company limited by guardntee and as such, its governing docllment is
its Artieles of Association.
The organisation is run by thc trusiees, each of whom may serve for life and thall not be subject to
any reappoinm¢n( process.
None of ihe trus￿￿8 have any b¢neficia] in(erest in the charity. All tnJsiees give ihelr time voluntarily
and no bellefit or expenses weTe paid to them in ihe year.
The Lharity's wholly-owned Subsidiary undertaking, Nirlake Investments Limited, is engdged in
properry inves(ment and ihe trustces consider it5 results for the year ended 31 March ?0?4 to be
sat15factory.
Risk Management
The tnisf¢e5 have dssess¢d the major risks to which the chariry is exposed. in paI'iiLular those related
to the operations and finance of Ihe Charity, and are satisfied thai sysieins are in place to mitigaie its
exposure lo those risks.

BAISTRAW LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES. ANNUAL REPORT ONCORPORATING THE DJRECTOR'S REPORT)
YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENTi¢wthiiii¢dJ
Appointment and Induction of New Trustees
Where there is a require]nen( for new trustees, these would be idenrified and appoinied by the
remaining (rustces. The chair of trustees would be respo115iblc for ihe ii)diiciion of any new trus(ee,
which involves awareness of a In]stce's re8pon5ibilitie5, the govcrsiing doctsmenl. adniinhsiraiive
proccdures, and thc hislory and phi1050phicli l approach of Ihe chariiy. A new irustee would receive
copies of the previous yearfs annual report 2nd aecounrs with detailed explwia(ion thereof.
Related party transactfio
Derails of iransacuoDS with "Related Parties" aTe disclos¢d in note 5 and 21 to the financial
statemenis.
OBJECTIVLS AND ACTIvrriES
The charily is cs(abli%hed 10 foster, assist and prO￿Ole Ihe chariiable activities of any insiiiutson
piof¢.5sing and leaching the principles of rr2dÈtional Judaism. to advance religion in ttccordancc with
Ihe Jewish faith and to give phi]anthropic aid to Ihe Jcwish needy.
The ch¢￿ilY rcceives income from ifs iSLvesimentb'. subsidiary undertakino and volullt2ry ineomc from
conipanies connected wilh Ihe Irustees which it Utilises in Ihe provi.sion and di.siribulion ol grants and
donE￿Il0￿S io organisations that fall within the objcctives of the charily.
The trustres coufirm (hai th¢y t]ave refenrd to (hc gllidaiice coniained in the Chariiy Commission,
gener21 guidat]ce on public benefil when reviewing the charily's aims and obj¢ctives and in planning
future aciiviiies seiiing thc gTanr making policy for the year.
ACHIEVEMENTS AND PERFORMANCE
Dllring the year the chariiy has continued i(s philanthropic activiiies and has Maintai￿ed its support of
religious, educational and othcr chari¢&ble instk(Ution5 boih in Great Briiain and abroad.
Th¢ demands on the Ch￿ity'S fvnd5 were more than ihose experienced lasi year with chatiiable
donations for the year lotalling £336,707 as against £189,063. The donations were met froJn Cu￿¢￿1
incom¢ and reserves of the chariiy.
The financial results of the charity and its subsidiary undertakL"ng for Ihe year eJJded 31 March 2024
are fully reflected in ihe aL(ach¢d Financial Statemenis iogeiher with the Notes thereon.
FINANCIAL REVIEW
The charity is reliant on th¢ income from investments, the COTLimercial activiLie5 of its subsidiary
uDdertaking and voluftiary income from comp(Inies connected wilh the trustees. Income from
cominerci21 aciiviiies of ihe subsidiary undertaking together with income from the inv¢sim¢nts and
voluniary donaiions have helped io boost the total incoming Tesource5.
Fin8llcial position
Thc financial p05iiion of the tharity is sat15faciory. The charity's statcment of fjndncial aciivilies
shows ioLal reserves of £3,175.553 (2023: £3,238,373).

BALSTRAW LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW(conttTrtt¢d)
Reserve Polity
li is Deces%ary thai the chariiy retains reserves in Drder to ensure that il is a posiiion io coiiiinuc ils
gr￿l-making activitie8 and cover contingencies of addi(ional ca]Is being made upon the chariiy for
suppori of organisations or insritutions in times of need.
The Trnsiees ronsidcr ]( appropriate to maintsin Free ReservGS' (unrestric(ed funds noi commiLied or
invGgted in Fixed Asset Investmenls) at a level which will not impinge on its ability ro support
Ch2ri(ablc ]nsututions.
The Free Reserves. of £520,090, which arc represenied by (part oo the liquid f￿ndS held by the
charity. are considered to be ad¢qu3tc and will be reviLwcd pcriodically by thc tru%tees of the charily.
Investn)ent Policy
Under the memorJndum and ariicles of 2sso¢iaiion, the charity has Ihe power to make any investmeni.
which the trusiecs see fi(. The rrnslees regul￿lY review ihe chaTity'S Position and need5 in rc5pecf of
Ihe invesimeni policy.
The trnsiees, having iegard io the liquidiry requiremenis of the charity and to ihc reserves policy, have
opeia(ed a ￿lIcY of keeplng available fund5 in an interesi bearing deposii account.
Grant Making Policy
Granis are made io charitable iDstiiutions and organisaiions both in fjreai Briiain and abroad which
accords with the objccts of the chuity. The trustees consider all requests which they reccive and
make donations based on ihe level of funds available.
PLANS FOR FUTURE PERIODS
The Lru%iees plan to contiTLue to mak¢ distributions in accnrdance with iheir grant rnaking policy and
lo eiisuie (h411 the ability to gencrate 5ufficicni lllcome is maintained 10 achieve Ihal end.
SMALL COMPANY PROVISIONS
This r¢poM has been prepared in accordance with the provisions applicable to companies enti(led to
the small companies exemption.
The (rusiees, annual report was approved on
twstecs by..
.z£/.o1 /£02
and signed on behalf of ihe board of
Mrs Zisi Frankel
Charity Secretary

BALSTRAW LIMrrED
COMPATr4Y LIMITED BY GUARANTEE
INDEPENDENT EXAMtNER'S REPORT TO THE TRUSTEES OF BALSTRA W
YEAR ENDED 31 MARCH 2024
I report to the trustees on my examination of the financi21 stalements of Ba15Lraw Limiltd I'the
charity) for thc year ended 31 March ?024.
RESPONSIBILITILS AND BASIS OF REPORT
As the trnSte￿ of the company (and also its direciors for the purposes of company lawl you are
responsible for the preparnlion of Ihe financial staiements in accordance with (he TequiremeTLlS of the
Compani¢s Act ?0061'the 2006 Act,).
Having satisfied Tnyself Èhat the accounts of the company are not reqllired 10 be audi(ed undur Pari 16
of the 2006 Act and are eligibl¢ for independen( ¢x2minaiiou, I nport in re.%peci af my exaTThinaliun of
(he charity's accounts as Ca￿led out under seciion 145 of the Chariiies Aci ?01 l ('Ihe ?01 l Aci'}. In
carrying out my examinaiion I have followed ihe D]"rections given by the Charity Cornmission under
Section 145(5)(b) of the 201 I Aci.
INDEPENDENT EXAMINER'S STATEMETrrr
Since ihe charity's gross income ex¢eeded £250.UOO yoyr cxarrliner musi be a member of a body
listed in sccuon 145 of the 2011 Act. l ¢onfirm Ihat l am qualified to underiake ihe exdi)3itLation
because l am a member of the Instituie of ChOMered Accouniaiits in Englttnd and Wllle& IICAEW),
V4hich is one of th¢ lisied bodi¢5.
I have completcd my examination. I confirn) Lhal no matiers have come to Tny atter]tion in connecuon
with the examination giving me ¢ause to believe".
accounting tecords wcre noi kept in respect of ihe Charity Os required by section 386 of the
2006 Acl. or
the financial statemen(s do noi accord with those records-. or
(he fina￿la1 5taietnents do not comply wilh ihe accouniing requiremenis of section 396 of
Ihe ?006 Act other than any requiremenl thai th¢ accounis give a 'true and fair. view which
is not a matteT considered as part of an independent examination. or
the financial siaiemcn15 have noi bcen prepared in accordance wilh the meihods and
principle5 of ihc Siat¢meni of Recotnmended Practice for accoiinting and repL)ning by
chariiies applicable to £haritics preparing their accounts in accordance wilh the Financi21
Reporting Siandard applicable in ihe UK and Republic of Ireland IFRS 102).

BALSTRAW LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BALSTRAW
LIMITED {¢4wrfKvéd}
YEAR ENDED 31 MARCH 2024
I h3vc no concerns and have come across no oth¢r matters in connection with the exwnination to
which al￿ntIOn should be drawn ID this report in order to enable a proper undersranding of tbc
accounts
be rca¢hed.
Dov Hatri
Independent Examiner
FCA
Date:y>.lQJ./.2ffW.............
COHEN ARNOL
Chart¢red Accounthnts
New Burlington House
1075 Finchley Road
LONDON
NWII OPU

BALSTRAW LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MARCH 2024
2024
Unrestricted
funds Total funds Toial funds
2023
Note
Income and endowments
Donations and legacies
Investment income
270,(M)O
26,623
270,(M)O
26,623
296,623
282,6(K)
15,228
297,828
Total income
296.623
Expendi¢ure
ExpBnditure on charitable activilies
Total expenditure
(359,112) (359,112) {212.865)
(359.112) (359,112) (212.865)
(93,717)
Net105ses on invesiment%
io
(331)
1331)
Net expenditure and net movement in funds
(62,820)
(61820)
<8,754)
Reconciliation of funds
Totai funds brought forward
Total funds carried forward
3,238.373
3.175,553
3238,373
3,J75&53
3,247.127
3.238,373
The statetn¢ni of financial activities Includes all gains and losses recogni5ed in the year.
All income and expendiwre derive from coniinuing activities.
The notrs on pygts 8 to J7 form Part of tILest llnanciÈl staleTrients.

BALSTRAW LIMITED
COMPANY LIMITED BY GUARANTEE
STA TEMENT OF FINANCIAL POSITION
31 LIqARCH 2024
2024
2(Y23
Note
FIXED ASSETS
Invesunenls
14
2ffj55,463
2.650,353
CURRENT ASSETS
Deb(ors
Cash a( bank and in hand
16
20,000
577,140
597, 140
579210
579,210
CREDITORS: amounts falling dlle
withln one year
A7
(59,120)
19,120)
NET CURRENT ASSETS
TOTAJ. ASSETS LESS CURRENr
LIABILITIES
520,090
588,020
3,175553
3.238.373
FUNDS OF THE CHARITY
Unre5tsicled furlds
3,175,553
3,175,553
3,238.373
3,238.373
Total charity funds
For the year ending 31 March 2024 (he charity was eniitled (o exetnpLion from audit under sec(ion
477 01 the Companies Act 2006 relaung to small companies.
Direciors, responsibilities..
The member5 have nol required the company to obtasn an audii of its financia] statemen15 for the
year ITI queslion in accordance with scctson 476,.
The direclors acknowledge their responsibilities for complying wilh ihe requiTements of thc Aci
with respeci io accoun(ing records and ihe preparation of fjnancial statements.
These financial statements have beeyj pi¢pared in accordance with the pmvisions applicable 10
tompanies subject (o lh¢ small companie5, regime.
Th&8e f)nancial sta(emeniS were approved by the board of 1rn5¢ees and authorised for issue on
.t¥JO1fjfy.￿.. and are signed on behalf of the boatd by..
18
iankel
rusiee
Company R¢gislr41ti0n Nurnter.. 01(X>2008
Tht Dole5 pages ¥ to 17 fom pgrt rfihese fin3nrial 5¢*ltment&

BALSTRAW LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
GENERAL INFORMATION
The charily IS ts public benefii entity and a privare company IiTniied by guar8niee, regisieied in
England and Wa1&5 ttnd a iegisiered ch￿ilY iii England and W>Lies. The addrss of the regisier¢d
otfice is New Burlington Housc, 1075 Finchley Road, LondoD, NWI I OPU.
STATEMENT OF COMPLIANCE
Thc5¢ fin.Inciul siaiernenis have been prepared sn compliance with FRS 102. The Fin¢incial
Reporting Standard applicable in the UK at]d thc Republic of Ireland,. Ihc Siaiement of
Recofflmcnded PracLice applicable LO cbatities prep3ring Iheir accounis in accordllnL¢ with the
Financi￿1 Reporiing Siandard applicable in the UK and R¢public of Ireland IFRS 1021 IChdritie5
SORP (FRS 102)) and th¢ Companies Act 2006.
ACCOUNTING POLICJLS
3.1 Basis of prepargtion
The finaDCi21 statemen(s havc been pr¢paTed on Lhe lus(orical cost basis, as m(Klified by the
revaluation of certain fiT]ancial assets and liabilities at fair va]ue ihrough income or expendiiure.
The financial siatements are prepored in srerling, which is ihe funciional CUJTency of the entity.
The charity Jneeis Ihe definition of a public benefit ¢n(ity whder FRS 102.
3.2 Going concern
There are no matuial unceriainties about the charity'5 ability to continue.
3.3 Consolidation
The charity is noi required Lo prepare consolidaled accounts irt accordance with the Charilies Aei
2011. aiid lia.% Ill keli advaniage of the opiion noi 10 prepare consolidaied finanLial sldlcmcnls
coniained in Section 398 of the Companies Act ?006 on the basis Ihal the Lhariiy and its
subsidiary undertaking compTise a bma]I group.
3.4 Judgements and key sources of estlmatlon uncertainty
Thc preparation of the financial statements requires manageTr]ent to mak¢ judg¢menrs, &£(imaies
aJ)d assuJnpii0s)s tha( affect the atnounis reported. These e51imaies dnd judgemeii(.s are
cantInu￿1]Y reviewed and are based on experience and other faciors. including Lxpectsiions of
fuDJre evenls thai are bclieved to be reasonable under the circumstaTJces. There were no
signifi¢ant judgements or Cslimates made in ihe preparation of these finaT)¢ial statements.
35 Fund accounting
Unrestricted funds are available for use at ihe discretion of the trn5tees to further dmy of thc
charity'.$ purposes.

BALSTRAW LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS IconliJr#d)
YFAR ENDED 31 MARCH 2024
ACCOUNfiNG POLICIES
3.6 Incoming re50urees
All income is included in thc sratement of finAncial activiiies when entstlernent has passed 10 Ihe
charity. it is probable that the economic benefits associated with the trdnsaction will f]ow to the
charity and the amouni can be reliably measured.
tncome from donations or grnn(s Is recogni5ed when th¢re is Cvidence of en(itlcTneni to rhe gif¢
receipt is probabl¢ and its amount can be me&Eured reliably.
3.7 Resourees expended
Expendicure is recognised on an accruals basis as a liabiliiy is incurred. Expendiiure includes
any VAT which cannoi be fully recovered. and is classified under headings of the s(at¢meni of
financial activities to which it relates.
Expenditure on chariiable activities includes all cosis illcurred by a ch4ri¢y in undtrtaking
aLliVities that fijrther its charitable aims for the benefit of ils beneficiaries, including those
support COSt5 and costs relating to the govemance of ihe chariiy apwrtioned to charitable
activlties.
All costs are alloeated to expenditure catcgorics reflecting the use of the resource. Direct costs
aiiributAble 10 2 single activity are allocated direcdy to thai activily. Shared costs are
apportioned bctween the activjties they ¢ontribute to on a reasonable, jllsLifiable and consist£n(
basis.
Grants and donations recognised when paid.
3.8 Investments
Unlisted equliy iJJvestmeniS are iniiially recorded at cost. and Subsequently me&sured at fair
value. If fair value canno( te rEliably mcasured, asseis are measured at cosi less impaiment.
Listed investh)enis are measured at fair value with changes in f2ir value beiT)8 recognised in
profAt or loss.
3.9 Financial instruments
A fiT)ancial asset or a fJnanci21 liabilily is recogniscd only when ihc ertiity becomes a party 10 the
contraciual piovisjon5 of the instrument.
Basic fiTTrancial instn]mEn(s arc iniually recognised at the amount receivablc or payxble iJJcluding
any rclated iransaction ¢thgts, unless the arrarlgemeni conslitllies a financing trai).¥aciion, whcre it
is recognised at the present value of the futur¢ payments discounted at a markcl rai¢ of inierest
for a similar debt Ansirument.
Cutrenl asseis and curren[ liabilitics arc subsequently measured al the cash or other
considcr3tion expected to be paid or receiv¢d and noi discounied.
Other financial instrnmenis are iniiially recognised al fair value and are 5ubsequenily measured
at fair value. wilh any changes recognised in profit or loss.
All equiiy iFLsirumenis att asses5¢d individually for impainlleni.

BALSTRAW LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE Fif4ANCIAL STATEMENTS 1¢
YEAR ENDED 31 MARCH 2024
JrhnM¢d)
Accouf4TING POLICIES (contirt4edJ
Finaneial iTr5truments (cl￿￿4￿8)
Any reversals of impairment arc recognised immediaLely. to the extcnl thaL the reversal do¢s nol
resuli in a carr), jno asnount of the finiincial d55et thai exceeds what ihe carrying amount would
have been had the imp￿rment nol previously b¢¢n recognised.
LIMITED BY GUARANTEE
The charity is a company limited by guarantee ayjd has no sharc capital. The liabiliiy of each
member in the cvent of winding up is limi(ed io £1.
DONATIONS AND LEGACIES
Unrestricted Totsl Funds Unresiricted Toial Funds
Funds
2024
Funds
2023
DONATIONS
Donations
270.CK)O
270,000
282,6(M)
282.600
Don21ions r¢ceiveil comprises an amount received from Nirlakc Investments Limiied, a
sub%idiary undenaking. of £270.OIM) 120?3.. £277.600)- The direciorate of Nirlake Investmenis
Limiied includes ceriain of the tN&iees of (he chariLy.
INVESTMENT INCOME
Unresiricted Total Funds Unrestricied Total Funds
Funds
2024
Funds
2023
Bank iniercsi received
Interest on fixed assei invesiments
Dividcnds received on fixed asset
investrnen
5.274
9.179
5,274
9,179
852
4,093
852
4,093
12.170
12,170
26,623
10,283
26,623
15.?28
FXPEf4DJTURE ON CHARITABLE ACTIVITIES BY FUND TYPE
Unrestricted Total Funds Unrestyicred Toial Funds
Funds
2024
Funds
2023
Donaiions paid
Support Costs
336,707
22.405
336,707
22,405
359.112
189.063
23.802
189,063
23,802
212,865
359,112
212.865
io-

BALSTRA W LIMITED
COMPANY LIMITED BY GUARANTEE
coJrliJrts¢d)
NOTES TO THE FINANCIAL STATEMENTS (
YEAR ENDED 31 MARCH 2024
EXPENDITURE OTrI CHARITABLE ACTtVlTIES BY ACTIVITY TYPE
Grant funding
Total fuDds
of aciiyiiies Supprt costs
2024
Total fund
2023
Donations paid
Governance costs
336.707
336,707
22,405
359,112
189,063
23.802
22.405
336,707
22.405
212.865
ANALYSIS OF GRANTS
2024
2023
GRANTS TO INSTITUTIONS
Support of education and relief of poverty
Tothl grdnts
336,707
336,707
189,063
189,063
li

BALSTRA W LLVIITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (conlrntstd)
YEAR ENDED 31 MARCH 2024
ANALYSIS OF GRANTS (cojthnlled)
All granis and donaiions were paid io charitable insiitutions for the purposcs of Either the
advancemeni of education or thc alleviation of poverry.
The composiiion of donations is shown below.
Achssomoch Aid Cornpany Limiied
Amud Hatzdokoh Trust
Baer Hatora Lid
Bayis L£pleitf)S
Bels Ruchel D'saimar (London) Limited
Bels Yaakov Primary School Foundation
Beth Jacob Grammar Schth)I for Girls Lirniled
BTiiish Friends of Ycshivas Shaarei ChiKhmo
Chasdei Sorelc
Chevras MO'OL Ladol
Comei Chariiies Lid
Friends of Bei8 Chinuch Lebonos Trust
Friends of Beis Soroh Schneirer
Friends of Mercaz Haiorah Belz Macnivka
Kollel Abavas Torah
Mifal H&chesed Vehatz¢dokoh
Moreshc¢ Haiorah Ltd
Norih London Welfare and Educational Foundaiion
Siort Uprighi
Talmud Torah Educaiion Limited
The Freida Copc Communiiy Centre Trusl
The TMC Trust Limited
Unii¢d Talmudical Associates Lrd
YesaTnach Levav
Yeiev Lev London JenJ5alem Trust
Yishdya Adler MLmorial fund
Sundry dondLions Icss than £3.0(K) individually
7,575
8,712
12200
3,60(1
3,020
5,1)00
5,1)00
3,000
10,000
lJ,392
3,6QO
10,000
20,000
11,000
4,180
10250
40500
5,100
7,000
7,500
3,000
40,(MIO
7,820
3,350
9,180
3,000
81,728
336,707
12.

BALSTRAW LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCJAL STATEMENTS (<
YEAR ENDED 31 MARCH 2024
10. NET LOSSES ON INVESTMENTS
Unrestricled Total FuDds Unrestricted Total Funds
Funds
2024
Funds
2023
Gainslllosses) on revaluatio￿ of li.sted
invesimeT]ts
Gainsloosses) on revaluarion of
invesLments in group undertakings
Gainsl(losses) on disposal of listed
investments
72,804
71804
(37,975)
137.975)
(s7.0￿}
{87,0￿}
{77,IXK))
177,(K)O)
13.865
(331)
13,865
(331)
21.258
21,258
(93,717)
193,717)
11. INDEPENDENT EXAMINATION FEES
2024
2023
Fees payable to the independeni examin¢r for..
Independent examination of the financial stat¢menis
4,560
4,560
12. STAFF COSTS
The average head count of employees, including lrnstees, during ihe yur wa5 7 {2023.. 4).
No salaries. wages or bcnefiis have been paid to ¢mployces during ihe year.
13. TRUSTEE REMUNERATION AND EXPENSES
No remuneration or oiher benefits from employment with (he chariry or a relar¢d entity were
received by (he (rustees.
No tnlsiee expenses have been incurred.
13

BALSTRAW LIMITED
COMPANY LIMrrED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (co1￿1￿￿￿)
YEAR ENDED 31 MARCH 2024
14. INVFSTMENTS
Shares in
Listed
group
investments undertakings
Tolal
Valuation
AL l April 2023
Addition5
Disposals
Fair va]ue movemeDts
1.129,353
170.639
(151.333)
72,804
1,22L,463
1.521,(KKJ
2,650,353
170.639
(151J33)
114,196)
2,655,463
(87.000)
1,434.000
At 31 March 2024
Impairment
At l April 2023 and 31 Mareh 2024
Carrying aJJJount
At 31 March 2024
1.221.463
1.129.353
1,434.000
1.521.000
2,655,463
2.650,353
At 31 March 2023
All investments shown above are held at valuation.
Valuatlon techniques of fixed asset investments
The fair valu¢s of shares in group underrakings are deLeriTLiRed using Ihe D¢t assets of the
subsidiary underiakn"ngs. Listed invebimen15 havc been profebsiona]ly valued at the Balance
Sheel dale by lh¢ I￿￿est￿e￿I mdnagers at Quilter Investment Platfomi Limited.
Htslorical cost m(Mlcl
Th¢ hislorical cos( of fixed a6bei invesuncnts at 31 M8r¢h2024 is £1.057.991 (2023:
£1.038,685).
14-

BALSTRAW LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (
YEAR ENDED 31 MARCH 2024
oJrhJtueJ)
15. INVESTMENT ENTJTIES
Country of
Company No. inco￿Oration
Percentage of
shares held
Cjass of share
Subsidiary undertakings
NiFlake Fnvesimcnts Limited
Bybgland and
Wa]es
00714297
Ordinary
100
The registered address of thc subsidihry undertaking is New Burlington House, 1075 Finchley
Road. London. NWI I OPU.
The aggregate assets, liabiliii¢s, capiial and reseThes for the subsidiary as at 31 Match 2024 is as
follows..
Nirlake Investments
Limited
Fixed a5S¢ts
Current agsets
Currenl liabililies
Provisions
1,199941
317J63
(1&930)
(64,000)
IA34J74
Nel assets
Aggregaie capiial and reserves
1,434274
A summary of turnover, cxpcnditure aT)d profitl(loss) for (he year ended 31 March 2024 is as
follows=
Nirlake Investments
Limited
Thrnover
Cost ol sales
Administrative expenses
Other op¢r21ing income
Piofit on dispos21 of invesimeni property
Nei valualion gain on fixed asset invesimcnls
Net valllaiion deficit on inve8imeni property
In(er&5t receivable and similar income
Tax
133,465
(47,924)
(11,279)
3.842
86,498
23,591
15,749
(20537)
183A05
Profit for the year
16. DEJITORS
2024
2023
Oiher debtors
20,000
Other debtors include5 an inlcresi free loan for chariLable PUKposes of £Nil (2023.. £20,(M)O).
15

BALSTRA W LIMITED
COMPANY LIMITED B Y GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS [cDRrthu￿J
YEAR ENDED 31 MARCH 2024
17. CREDITORS: amouDts falling due within one year
2024
2023
Other creditors
59,120
9.120
OLher cred&tors include aT) interesi free loan receivcd for charitable purpose5 of £50,(NJ)12023..
£Nil).
18. ANALYSIS OF CHARITABLE FUNDS
U1)r￿trIcted funds
Gains 2nd
At
losses 31 Mareh 2024
Ai
l April 2023
Income Expenditure
General Funds
3,238.373
296,623
{359,112)
1331)
3,]75￿53
At
l April 2022
Gains and
At
losses 31 March 2023
Jncome Expenditure
General Funds
3,247.127
297,828
{212,8651 193.717)
3.238,373
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricred Total Funds
Funds
2024
Inve5tmen(s
Curreni assets
Credi(ors less Ihan l ye
2,655,463
579,210
(59,120)
3,175.553
1655A63
579,210
159,120)
3,175553
Net assets
Untestricled Total Funds
Funds
2023
Jnvestsnents
Curreni assets
CT¢diiors less than l year
2,650.353
597.140
19.120)
3,238,373
2,650.353
597.140
19.120)
3,238,373
Net assets
16-

BALSTRAW LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINATr4CIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
20. FINANCIAL INSTRUMENTS
The corrying amounl for each category of financial instrnment is as follows..
202A
2023
Financial assets measured at fair value through income and expenditure
Financi21 assets measured ai fair Value through income and
cxp£nditure
2,655,463
2,650.353
21. RELATED PARTIES
Income from donations comprises £270.000 12023- £277.61M)) receivable from a subsidiary
llndertaking, a company in which certain trustees are directors.
17