Charity Registration No. 262362 Company R*yl$tration No. 0100S565 (England and W&lo81 ARDINA LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
ARDINA LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Governors Mr Philip Weiss Mr Hyman Wei5S Charity number 262352 Company number 01005565 Principal address Healon House 148 Bury Old Road Manchester M7 4SE Registered office Healon House 148 Bury Old R08d Manchester M7 4SE Independent examinèr Lopian Gross Barnett & Co 1$1 Floor. Cloister House Riverside New Bailey Street Manchester M3 5FS
ARDINA LIMITED CONTENTS Page Governors, roport Independent examinerfs report Statement ol financial a¢tiwlies Balance sheet Notès lo the finanaal statements 6-12
ARDINA LIMITED GOVERNORS. REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The govemors present their annual report and financial slalernents for th6 yèar ended 31 March 2024. The a¢counls have been prepared in acwrdance with the accounts'ng policies set out in note 1 to the accounts and CQTnply with the charitys goveming document, the Companie5 Ad 2006 and 'Accounting and Raporting by Charities.. Statement of Recommended Practice applicable to charrties preparing their accounts in aceoTdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. las amended for accounting periods comrnencing frorn 1 January 20161. Obleetlve$ 8nd aCVItI•$ The charitls objectives are to aid the advanment of religion in a¢cordance with the Orthodox Jewish faith and the relief of poverty and other chaiitable purposes for the public benefit. The policies adopted in furtherance ol these objects are lo identify Orthodox Jewish Charities which ¢arry oul activities such as providing Orthodox Jewish education and other activitie5 which advance Teligion in accordance with the Orthodvx Jewish fath or whKh relièvè poverty and Iheie has been no change in these during the year. Each year, the govemors confirm that they have referred lo guidance contained in the Charity Commission general guidance on public benefit when reviewing the ch8rily's aims and objedives and in planning future activities and setting the grant making policy for the year. The charitws Income is generated from invèstment incorne and gains and charitable donations which is then distributed lo meet the above objectives atter allowing for lunds required for investment in the char¥ty joint propérty syndicatès. The objective of the charity for the year was lo maintain a slable ft(Iw ol donabons going lo worthy causes in the Jewish community. The govemors also airn lo expand the charity's investment portrolio whenever the opportunty aii8es. No particu18r uiteria or measures are used lo assess success in achieving these aims or objectives. The govemors h8ve paid due regard lo guidance issued by the Char(¢y Cornrnission in deading what activities the company should undertake. Achlevom•nts and perfom?an¢e During the year the charity made don3tK)ns to a variety of charitios within the Jewish community. The govemois are pJea5ed with the performance ol its own investments and with the level of donations given to worthy Gluses. Financial revlew The governors, investment pvwers are goveined by charity's Memorandum ol A550cialion which pern)ils the charity lo invest as may be determined by the govemors. The governors, are expefienced property investors and have invested the charity's funds in various properties with others in order to generate funds for dislTibution. Investments are ¢h05en on the basis of achieving a yield in excess of that available from cash dep0511s while maintaining a high degree of security of income and the undertying assets. The charily's investments genèrated income of £180,477 12023.. £321,199> and also had ineome of £47,000 12023.. £38,500) from donations. Accordingly. the total of incoming resources was £227,477 {2023.. £359,699) which left a surplus of £214,76112023'. £349.5111 after expenses of £12,71612023.' 10,1881. The charity distributed £229,725 12023.. £231,66011ts various charities for the relief of F)overty and the advanc&ment of ligIOn in accordance wth the Orthodox Jewsh faith, resulting in a £14.964 decrease12023." £117,851. increase) in reserves. There is no policy to maintain a lev&1 of reserves other than as requirèd for the (*)aritys investment portfolio. The governors. investment powers are governed by the charit15 memorandum of assoaalion Ihaf perniil$ the charity lo invest as may be detemiined by the governors.
ARDINA LIMITED GOVERNORS. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 MARCH 2024 The governors have assessed the major risks lo whSch the ¢harity is exposed. and are $8t¢sfied Ih8t systems are in place to mitigate exposure lo Ih05e major risk5. Structuro. govornance and management The charity is a cornpany limited by guarantee. 11 was incorporated on 23 March 1971 and registered as a charity on the same day. The company was established under a Memorandurn of Association which established the objects and powers of the tharilable company and is governed under ils Articles of association. The governors, who are also the directors for the purpose of company law. and who served during the year and up to the date of signature of the financial statements were.. Mr Philip Weiss Mr Hym8n Vveiss Governors are recommended Ond appointed by the board of governors. training would be offered lo new governors by the existing govemoig. None ol the governors has any beneficial interest in the company. All of the governor5 are members of the company and guarantee lo contribute an amount not exceeding £1 in the event of a winding up. The board of governors administers the charity. The governors. report was approved by the Board of Governors. Mr Hyman W815¥ Governor Dated..
ARDINA LIMITED INDEPENDENT EXAMINER'S REPORT TO THE GOVERNORS OF ARDINA LIMITED I report lo the govemors on my examination ol the finan¢ial statements of Ardina Lirniled (the chartyl for the year endèd 31 March 2024. Re$ponsiblllties and ba$b of report As the governors of the charity land also its directors for thè purposes of company law}, you are responsible for thg preparation of the financial stalemgnls in a¢wrd3nce with th& requliemenls of the CompaniesA¢i 2006. Hawng sa115fied myself that the financial s181ements of the charity are not required lo be audited under Part 16 of the Companies Act 2006 and are eligible lor iridependenl examination, I repori in respect of my examination of the charity's financial statements carried out under sects'on 145 of the Charities Act 2011. In carrying out my exarllinalion I have followed the Directions given by the Charity Commission under seclh)n 145lSllbl ol th8 Charities Act 2011. Indende1)t 8xarninerf$ statement I have completed my examination. I confirm Ihal no matters have come lo my attention in conneclion with the examination givin9 rne cause lo believe that in any material respect.. attounting records were not kept in iespect of the charity as required by seclFon 386 of the Companies A¢1 2006. the financial $18lemenls do not accord wrth those records.. or Ihe financial statements do not wmply wrth the a0untIng requirements of section 396 of the Companies Act 20C6 othei than any requirernent that the financial statements give a true and fair view, which 15 not a matter consideied as part of an independent exarninalion.. or the financial slatements have not been prepared in accordance with the methods and piinciples of the Statemènt of Recommended Practicè for accounting and reportrng by charrtie5 applicable lo ¢harities prepaTing their finanaal slatemenls in a¢eordanee with the Finan¢l81 Reporting Standard 8ppIic8ble in the UK and Republic of llaland {FRS 102). I have no concems and have ctsrlle #cross no other m8tter5 in connection with the examination lo which attention should be drawn in this ieport in order lo enable a proper understanding of the financial statements lo be re8r.hg.rt Jason Selig BA FCA CTA DChA Lopian Gross Bainett & Co Chatèrèd Accounlanls 1st Floor, Cloister Housè Riverside New Bailey Strèet Manchester M3 5FS Dated.. 3.Ql.Q.1J2Q25..
ARDINA LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Donations and legacies Investment income 47,000 180,477 38,500 321,199 Total Incom• 227.477 359,699 Ex enditurg on: Charitable activities 229,725 231,660 Other 12.716 10,188 Total resources exp•nd•d 242,441 241,848 Ngt lexpenditur•)fin¢ome for the yearl Net moveFnent in funds 114,9641 117,851 Fund balances at 1 April 2023 1.167,762 1.069,911 Fund balances at 31 March 2024 1,172.798 1,187,762 The stalernenl of finan¢ial activities include5 all gains and losses Tecognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derivè from continuing adivilies. Th8 slatèmènl of financial activities also complies w&th the reouiremenls for an in¢ome and expendittsre account under the Companies Act 2006.
ARDINA LIMITED BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Flx•d assèts Investments Property investmants io 11 100 1,913,630 101 1,872,781 1,913,730 1.872.882 Currènt as$•ts Debtors Cash al bank and in hand 12 39,493 127.694 139,493 161.138 167,187 300,631 Creditors: amounts falling due wlthln ofle year 13 1908,1191 (985.751) Net current liabilities 1740,932 1685,1201 Totsl assèts l•$s current Ilabllllies 1,172,798 1,187,762 Income funds Un¥estricled funds 1.172,798 1,187,762 1,172,798 1.187,762 The company is entitled to the exemption from fhe audit requ1ment contained in section 477 of the Companies Acl 2006. for the year ended 31 March 2024. The diredors acknowledge their responsibililieg for complying with the requirernents of the Companies Act 2006 with respect to aecounling records and the pieparalion of financial slatemenls. The members have not r8quir8d the company lo obtain an audit of its financial statements for tho year in question in accordance with section 476. These finan¢ial statements have been prepared in accordance with tho provisions applicable to cornpanies subject lo the small companies regime. The financial statements were approved by Ihe Governors on . 3010112025 Mr Hyman Weiss Govemor Company Regl$tratton No. 01005565
ARDINA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Aeeounting pollci•s Charity information Aidina Limited is a private Company limited by guarantee incorporated in England and Wales. The registered office is Heaton House, 148 Bury Old Road, Manchester. M7 4SE. 1.1 Accounting tonvention The accounts have been prepared in accordance with the Companies Act 2006 and "Accounting and Reporting by Charities." Statement of Recornmended Practice applicable to charities pieparing their accounts in accordance with Ihfy Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" 135 arnended for accounting periods commencing from 1 January 20161. The charity is a Publi¢ Benefit Entsty as defined by FRS 102. The charity has tsken advantage of the prowsions in Ihe SORP for charities applying FRS IQ2 Upd8le Bulletin 1 nol lo prepaitr a Slalemenl of Cash Flows. The financial 8talements are prepared in sterlin9, which is the functional currency of the charity. Monetary amounts in these financial slalements are rotjnded to the nearest £. The financial statements have been prepared under the hi51oTical ox)sÉ convention. The principal accounting policies adopted are set out below. 1.2 Going concern Al the time of approving the financial statements, Ihe govemors have 8 reasonable expectation that the charrty has adequate resources to continue in opgialional existence foi the foieseeable future. Thus the governors continue to adopt the going ¢on¢em basis ol 8ccounts.ng In preparing the financial statements. 1.3 Charitsble funds UniestrFCted lunds are available for use al the di5¢relion of the governors in furtherance of their chaiitsble objectives. Funds held by the charity are all unrestricted. Th0 béing funds whi¢h ¢¥n used in accordance wtth the charitable objects at the discretion of the governors. 1.4 Incoming re¥our¢e¥ Incame is recognised when the charity is legally enlilled lo il after any perfoimance conditions have been mel, Ihe amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognisod on receipt. Other donations are recognised On the charity has been notified of the donatson, unless performanee conditior15 require deferral of the amount. Income tax recoveiable in relation lo donations received undei GiftAid or deeds of covenant Is recognised at the b'me of the donation. Legaaes a recognised on receipt or olhetwise if the tharty has been notified of an impending distribLrtion. the amount is known, and receipt is expe¢l8d. If the amount is not known, the legacy is treated as a contingent asset.
ARDINA LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ountlng poll¢les Icontinuedl 1.5 Resources gxpended Expenditure is recognisèd once there is a legal or constructive obligation lo transfer economic benefit to a third party, il Is probable that a transfer of economic benefi15 will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, in¢lEJding support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated diredly lo that activity. Shared wsts which contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basi5 consistent with the use of resources. Central $18ff costs are allocated on the basis of time spent. and depreciation charges are allocated on the portion ol the asset's use. Expenditure is r8eognised on an accruals basis as a liabilty is In¢uTr8d. Charitable expendtture comprises Ihose costs incurrod by the ch8rty in the delivery ol its aclivrties and 5eniice5 for its beneficiaries. 11 includes both costs that Can be allocated directly to such activities and those costs of an indirect nature necessary to support thèm. Other costs indude all costs involving the public accountability of the charity and its compliance with regulation and good practice. These indude Costs related lo legal fees. Charitable distributions represent dona*"ons paid lo religiou5, educational and similai charities, and are recognised when payment is madg by the ch8ri1y. l.fj Flxèd a$$et Invèstm¢nts A subsidiary is an entity Controlled by the charity. Control is the power to govem the financial and operating policies of the ents'ty so as to obtain benefits from its activihes. 1.7 Cash and cash equivalents Cash and cash equiv3len15 include cash in hand and deposits held al call with banks. 1.8 Financial instruments The chafity has elected lo apply the provisions of Section 11 'Basic Financial Inslrumenls, and Section 12 'Other Financial Instmmenls Issues, of FRS 702 to all of its financial instruments. Financial instruments are Tecognised in the charity's balance sheet when the charity becornes party lo the contractual pro$10n$ of the instrument. Flnancial assets and Iiabililies are offsel. with the nèl amounts presented in the finanaal statements, when there is a legally enforceable right lo set off the recognised amounts and there is an intention to settle on 8 nel basis or lo reali5e the asset and settle the IabIlitY Sitnultaneously. Basic financialassets Basic financial assets. which include debtors and cash and bank balances, are initially meaSUd at Iran5aclion pricè including transaction costs and are svbs8quenUy cairied al amortised cost using the effe¢tive interest method. Financial assets classified as receivable wrthin one year are not amortised. Basie financial liabilities Basic financial liabilities, induding craditors and bank loans are initially recognised at transaction price unless Ihe arTangemenl constitutes a financing trans8Ction.
ARDINA LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounting pollclg$ (Continuedl 1.9 Investrnents in joint property syndlcates The charity has a numi)er of joint interests in various properties each of which is owned by a syndicate of similar partiapalors. These investments are slated at the nel wsl of partiLypalion in the syndicate plus accumulated surplusès less defrciences and drawings from the syndicate. No revalLJation of the undertying properties has been reflected in the accounts. 1.10 Group accounts The financial statements present inforrnalion about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking compiise a 5malFsized group. The company has therefpre taken advantage of the exemptions provided by section 399 of the Companies Aot 2006 not lo prepare group account5. In¢ome from donations and legacles Unr•strletèd funds 2024 Unrestricted funds 2023 Donations and gifts 47,000 38,500 Donations include £ Nil {2023.' £ Nil) from the company's subsidiaries. Income from Investments Unrestricted Unrestrlcted funds funds 2024 2023 Syndicate surpluses Other income Interest receivable 179.637 320.362 837 840 180,477 321.199 4 Charitable actimlies Charitable Charitable dlstrlbutfion¥ dl8tributions 2024 2023 Grant funding of activities Isee note 51 229.725 231.660
ARDINA LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Grants payable 2024 X123 orthodox Jewish Educalion and religious studies Advancement of religion and the Orthodox Jewish faith Relief of h8rdsip and poverty in Jewish community 108.175 41.350 59,900 25.080 103.750 47,900 229,725 231,660 Material grants were paid to the following bodies.. Amud Hatzdokoh Trust 10,000 Friend5 of Mercaz Holarah Bek Machnovke 17,000 Bnos Yisroel School 10.000 Chernobel Shul 15.000 Kolei5s Zedokoh Ltd 21.750 The Yeshivas Ohel Shirnon Tru51 73.975 Zoreia Zedokos 9.000 Yelev Lev 21.500 156.725 52,700 Other grants (not exedIng £5,000) 229,725 Governors None of the govemor5 lof any persons connected with them) received any remuneralion OT expenses during the year. None of the govemors {or any persons connected with them) received any benefits during the year. Employ8è$ The average monthly number ol employges during the year was., 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60.000.
ARDINA LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Oth¢r 2024 2023 Legal and professional fees Accountancy charge5 Sundry expenses Bank charges and interest Management charge 298 7,70Q 1,566 152 3,000 1S0 7,250 2.683 125 12.716 10.188 Taxation The activities of Ardina Limited are exempl from direct taxation undei part11 of Corporation Tax A¢t 2010. 10 Flxèd assèt invèstmènts Other Invèstmènts Cost or valuatlon At 1 April 2023 Disposals 101 At 31 March 2024 100 Carrying amount Al 31 March 2024 100 At 31 March 2023 101 2024 2023 Other investments comprise.. Notss Investmènts in subsidiaries 16 100 101 10-
ARDINA LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Investhients in Jolnt property syndi¢ate$ Al 1 April 2023 Capital introduced Surplus for the year C8Pital paYmentS 1,872,781 1,067 179.637 {139.8551 At 31 March 2024 1,913,630 The joint property investments in whi¢h the charity is a participator has borrowings secured on the pioperties owned by the syndicate5. The charity'5 share of such borrowings is not $h(trwn in the balance sheet in wew of the extenl ol the security provided by the properties. 12 Debtors 2024 2023 Amounts falllng du¢ wEthln ona year. Other debtOlS 39,493 139,493 13 Cr•dltors: amounts falling du• within one year 2024 2023 Trade creditors Amounts owed to subsidiary undertakings other creditors AccTual$ and deferred income 7,620 121,284 771,595 7.620 6,900 121.556 851.295 8.000 908,119 985.751 14 Unre8tri¢ted funds The unreslricted funds of the charrty c¢rnpNse the unexpended balances of donations and grant5 which ar not subject to specific conditions by donors and granlors as to how they may btr used. These include designated funds which have been sel aside out of unrestricted funds by the trLJStees for specific purposes. At 1 Aprll 2023 Incoming resources Resources At 31 March •xp&nded 2024 General knnds 1.187.762 227,477 1242.441) 1,172.798 Pr•vlous year.. At 1 Aprll 2022 Incoming resources Resoureès At 31 March •xp•ndod 2023 GeneTal fvnds 1.069,911 359,699 1241.8481 1,187,762
ARDINA LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Related party transactions Interfrst Free Loans 2024 2023 Localtrent Limited 30,000 30,000 30,OOCI 30,CXJO The following amounts were outstanding al the reporting end date.. Amounts owed to related parties 2024 2023 H Weiss P Wei55 283,229 383.231 283,229 363,231 666.460 666,460 16 Subsidiariès Details of the charity's subsidiaries at 31 March 2024 are as follows.. Name of undertaklng Reglstered office Nature of buslness Class of % Held shares held Dlrect Indirect Bemiin Investments Limited England & Wales Pioperty Investors Ordinary 100 The aggregate caprtal and reserves and the resuK for the year of subsidiaries excluded from consolidation was as follows.. Name of und•rtaklng ProfiVILossl Capital and Reserves B8rn1in Inveslments Limed 53,720 12