Charity Registration No. 262352 Company Registration No. 01005565 (England and Wales) ARDINA LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
ARDINA LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Governors Mr Philip Weiss Mr Hyman Weiss Charlty number 262352 Company number 01005565 Principal address Healon House 148 BLJry Old Road Manchester M7 4SE Registered office Healon House 148 Bury Old Road Manchester M7 4SE Independent examiner Lopian Gross Barnett & Co 1 st Floor, Cloistèr Hous8 Riverside New Bailey Street Manchester M3 5FS
ARDINA LIMITED CONTENTS Page Governors. report Independent examiner's report statement of financial activities Balance sheet Notes to the financial slalements 6-12
ARDINA LIMITED GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The govemors present their annual report and fin8n¢ial statements for the year ended 31 hAarch 2025. The accounts have been prepared in accordance with the accounting policies sel out in note 1 to the a¢¢ounls and comply with the charills governing do¢umenl. the Companies Act 2006 and 'Ac¢ounling and Reporting by Charities.. Statement of Recommended Pra¢ti¢e applicable lo ¢harities preparing their aount$ in ac¢ordan¢e with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021. las amended for accounting periods commencing frDm 1 January 20161. Oblectlvès and actlvltlès The charity's objectives are to aid the advancement of religion in accordance with the Orthodox Jewish faith and the relief of poverty and other charitable purposes for the public benefit. The policies adopted in furtherance of these objects are lo identify Orthodox Jewish Charities which carry out activities such as providing Orthodox Jewish education and other activities which advance religion in accordance with the Orthodox Jewish faith or which relieve poverty and there has been no change in these during the year. Each year, the govgrnors ¢onfim that they have referred to guidance contained in the Charity Commission general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setling the grant making policy for the year. The ¢harity's income is generated from investment in¢ome and gains and charitable donations which is then distributed to meet the above objectives after allowing for funds required for investment in the charity joint property syndicates. The objective of the Charity for the year was to maintain a stable flow of donations going to worthy ¢aLJses in the Jewish MmunIty. The govemors also aim to expand the charity's investment portfolio whenever the opportunity arises. No paCUlar criteria or measures are used to assess success in achieving these aims or objectives. Th8 governors hava paid due regard to guidanc8 iSSLJed by the Charity Commission in d8ciding what activities the company should undertake. Achlevements and performance During the year the charity made donations to a variety of charities within the Jewish community. The governors are pleased with the performance of its own investments and with the level of donations given to worthy causes. Financial r8vi8w The govemors. investment powers are governed by the charity's Memorandum of Association which permits the charity lo invest as m8y be determined by the governors. The governors, are experi8n¢ed propety investors and have investgd the charity's funds in various properties with others in order to generate funds for distribLJtion. Investments are chosen on the basis of achieving a yield in excess of that available from cash deposits while maintaining a high degree of security of income and the underfying assets. The charitls investments generated income of £389,976 12024.. £180,477I and also had income of £46,000 12024.. £47,0001 from donations. Accordingly, the total of incoming resources was £435,976 12024.. £227,477) which left a surplus of £426,34812024'. £214,761) after expenses of £9,62812024'. £12,716). The charity distributed £138,300 12024.. £229,725> to various charities for the relief of poverty and the advancement of religion in accordance with the Orthodox Jewish faith, resulting in a £288,048 increase 12024.. £14,964 d8creasèl in resèrvès. There is no poli¢y to m8inlain 8 level of reserves other th8ll 8$ required for the charity's investment portfolio. The govemors. investment powers are govemed by the charity's memorandum of association that permits the charity to invest as may be determined by the governors.
ARDINA LIMITED GOVERNORS. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The governors have assessed the major risks to which the ¢h8rity is exposed, and are satisfied that systems are in place to mitigate exposure to those major risks. StnJ¢ture, goveman¢e and management The charity is a company limited by guarantee. It was incorporated on 23 March 1971 and registered as a charity on the same day. The company was established under a Memorandum ofAssociation which established the objects and powers of the charitable company and is governed under its Articles of association. The govemors, 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 Hyman Weiss Govemors are recommended and appointed by the board of governors, training would be offered to new govemors by the existing governors. None of the governors has any beneficial interest in the company. All of the governors are members of the company and guarantee lo contribute an amount not exceeding £1 in the event of a winding up. The board of govemors administers the charity. The govemors. rety)rt was approved by the Board of Governors. ..qd.w. 29 J9nu?ry 2026 Mr Hyman Weiss Govemor Dated.29..JAriy.4ry..2026
ARDINA LIMITED INDEPENDENT EXAMINER'S REPORT TO THE GOVERNORS OF ARDINA LIMITED I report to the govemors on my examination of the financial ststements of Ardina Limited Ithe charity) for the year ended 31 March 2025. Re$ponsibilitie$ and basis of report As the govemors of the charity land also its directors for the purposes of company law}, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having sab'sfied myself that the financial statements of the charity are not required lo be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the Charities Act 2011. Independent examiner's statement Since the charity's gross income exceeded £250,000, the independent examiner musl be a member of a body listed in section 145 of the Chariliss Aol 2011. 1 ¢onlirm that l am qualified lo undertake the examination because l am a member of The Institute of Chartered A¢¢ounlanls in England and Wales, which is one of the listed bodies. I have completed my examination. l ¢onfimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any matèrial respect.. accountin9 records were not kept in respect of the charity as required by section 386 of the Companies Act 2006. the fin8nGial ststemenls do not acGord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination., or the financial slalements have not been prepared in accordance with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities appli¢able lo charities preparing their financial statements in a¢cordan¢e wvch the Financial Reporting Stsndard applicable in the UK and Republi¢ of Ireland IFRS 1021. I have no ¢on¢8ms and have Come across no other matters in Connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the finan¢ial slalements lo be reached. Daniel Rubinstein FCA Lopian Gros5 Bamett & Co Chatered Accounlanls 1st Floor, Cloister House Riverside New Bailey Street Manchester M3 SFS Dated.. 29/0 1 /2026
ARDINA LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Income from.. Donations and legacies Investment income 46,000 389,976 47,000 180,477 Total income 435,976 227,477 Ex enditure on.. Charitable activities 138,300 229,725 Other 9,628 12,716 Totsl resour¢¢s expended 147,928 242,441 Net incomel{expenditurel for the yearl Nèt movèmènt In funds 288,048 114,9641 Fund balances 8t 1 April 2024 1,172,798 1,187,762 Fund balances at 31 March 2025 1.480,846 1,172,798 The statement of financial 8clivilies includes 811 gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The statement of financial activities also cornplies wtth the requirements for an income and expenditure account under the Companies Act 2006.
ARDINA LIMITED BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Fixed assets Investments Property investments 10 11 100 2,097,526 100 1,913,630 2,097,626 1,913,730 Current a$$ets Debtors Cash 81 bank and in hand 12 39,493 223,722 39,493 127,694 263,21 S 167,187 Credltors: amount$ falllng due wlthln one year 13 1899,9951 1908,1191 Nel Current liabilities 1636,7801 1740,9321 Total assets less current liabilities 1,460,846 1,172,798 Income funds Unrestricted funds 1.460.846 1,172,798 1,460,846 1,172,798 The wmpany is entitled lo the exemption from the audit requirement contsined in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The directors a¢knowledgè their responsibilities for ¢omplying with the requirements of the Companies A¢1 2006 with respect to accoLJnting records and the preparation of financial statements. The members have not required the company lo obtsin an audit of ils fin8nci81 ststemenls for the ye8r in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small cornpanies regime. The financial statements were approved by the Governors on .M.28January 2026 Mr Hyman Weiss Governor Company Registration No. 01005565
ARDINA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng poll¢le$ Charity inforrnation Ardina 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 Accountlng convontlon The accounts have been prepared in accordan with the Companies Act 2006 and °Accounling and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from 1 January 20161. The charity is a Public Benefit Enlily 8s defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterfing, whi¢h is the functional currency of the charity. Monetsry amoLJnts in these finan¢ial statements are rounded to the nearest £. Th& financial ststemenls have been prepartrd undtrr the historical cost conv8nlion. The principal accounting policies adopted are set out below. 1.2 Going con¢ern At the time of approving the finanaal statements, the governors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable fulure. Thus the governors conts'nue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the govemors in furtherance of their charitable objectives. Funds held by the charity are all unrestricted. These being funds which can used in accordance with the charitable objects al the discretion of the governors. 1.4 In¢oming resour¢e$ Income is recognised when the charity is legally entitled to it after any performan conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Gash donations are recognised on reipl. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation lo donations received under GiftAid or de8ds of covenant is rewgnised al the lime of the donation. Legacies are recognised on receipt or othetwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. 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 2025 Accounting policies (Continued) 1.5 Resources expended Expenditure is recognised once there is a legal or constructive obligation lo transfer economic beneftt lo a third party, il is probable that a transfer of economic benefits will be required in selllemenl, and the amount of the obligation ¢8n be me8sured liablY. Expenditure is classified by activity. The costs ol each activity are made up of the trjtal of dittt costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single aclivity are allocated directly lo Ihal activity. Shared costs which conlribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Expenditure is recognised on an Jru81$ basis as a liability is InCurd. Charitabl8 èxp8nditure comprisès thosè costs incurred by th8 charity in the dalivèry of its activitiès and services for its beneficiaries. It inclLJdes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary lo support them. Other costs include all costs involving the public accountability of the charity and ils compliance with regulation and good practice. These include costs related to legal fees. Charitable distributions represent donations paid lo religious, educational and Similar charities, and are recognised when payment is made by the charity. 1.6 Flxed ass8t Inv8stm&nts A subsidiary is an entity controlled by the charity. Control is the power lo govern the financial and operating policies of the entity so as lo obtain benefits from ils aclivilies. 1.7 Cash and ¢a$h equivalènts Cash and cash equivalents include cash in hand and deposits held at call with banks. 1.8 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of its financial inslrumenls. Financial instruments are recognised in the charity's balance sheet when the charity becorlles party lo the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc financlal as$ets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method. Financial assets classified as re1vable within one year are not amortised. 8asic financial liabilities Basic finan¢i81 liabilities, including Creditors and b8nk108ns are ini11811y cOgnised al trans8Ction price unless the arrangement constitutes a financing transaction.
ARDINA LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.9 Investments in joint property syndicates The charity has a number of joint interests in various properties each of which is owned by a syndicate of similar participators. These investments ale ststed al the nel cost of participation in the syndicate plus 8ccumulated surpluses less deficiences and drawings from the syndicate. No revaluation of the underlying properties has been reflected in the accounts. 1.10 Group a¢¢ounts The financial statemenis present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts. Income from donations and legacies Unrastrictod funds 2025 Unr8strictod funds 2024 Donations and gifts 46,000 47,C>OO Donations include £ Nil12024.' £ Nil) from the company's subsidiaries. Incom8 from invastmènts Unr•strictèd Unr8strictèd funds funds 2025 2024 Syndicate surpluses Interest re1vable 388,931 1.045 179,637 389,976 180,477 4 Charitable activities Charltablo Charltablo distributions distributions 2025 2024 Grant funding of activities (see note 51 138,300 229,725
ARDINA LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Grants payable 2025 2024 Orthodox Jewish Education and religious studies Advancement of religion and the Orthodox Jewish faith Relief of hardsip and poverty in Jewish community 72,300 47,000 19,000 108,175 41,350 47,900 138,300 229,725 Material grants were paid to the following bDdies '. Friends of Mercaz Hatorah Belz Macnivka Bels Ruchel School Ltd Live & Leam The Yeshivas Ohel Shimon Trust 39,000 12,000 10,000 44,000 105,000 Other grants (not exceeding £5.0001 33.300 138,300 Governors None of the governors lor any persons connected with them) received any remuneration or expenses during the year. None of the governors lor any persons connected with them) received any benefits during the year. Employees The average monthly number of employees during the year was.. 2025 Number 2024 Numbèr 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 2025 Other 2025 2024 Legal and professional fees Accountsncy charges Sundry expenses Bank charges and interest Management charge 2,409 6,150 1,024 45 298 7,700 1,566 152 3,QOO 9,628 12,716 Taxation The activities of Ardina Limited are exempt from direct laxalion under part11 of Corporation Tax Act 2010. 10 Fixed asset investments Other inv•$tmènt$ Cost or valuation At 1 April 2024 & 31 March 2025 100 Carrying amount At 31 March 2025 100 At 31 March 2024 100 2025 2024 Other investments comprise.. Notes Investments in subsidiaries 16 100 100 11 Inv&$tmgnt$ In Jolnt property $yndl¢ate$ At 1 April 2024 Capital Introduced Surplus for the year Gain on disposal Capital repayments 1,913,630 39 175,036 213,895 1205,0741 At 31 March 2025 2,097,525 10-
ARDINA LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Investments in joint property syndicates (Continued) The joint property investments in which the charity is a participator has borrowings secured on the properties owned by the syndicates. The charity's share of such borrowings is not shown in the balance sheet in view of the extent of the security provided by the properties. 12 Debtors 2025 2024 Amounts fallSng due wlthln one year.. Other debtors 39,493 39,493 13 Crèdltors: amounts falllng duè wlthln onè yèar 2025 2024 Trade creditors AmoLJnts owed to SLJbsidiary undertakings Other creditors Accruals and deferred income 7,620 121,284 771,595 7,620 121,020 771,595 7,380 899,995 908,119 14 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been sel aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2024 Incoming resources Resources At 31 March expended 2025 General funds 1,172,798 435,976 1147,9281 1,460,846 Prevlou$ year.. At 1 April 2023 Incoming resources Resources Al 31 March expended 2024 General funds 1,187,762 227,477 1242,4411 1,172,798 15 R8latèd party transactlons Interest Free Loans 2025 2024 Localtrent Limited 30,000 30,000
ARDINA LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Related party transactions (Continued) 30,000 30,QOO The following amounts were outstsnding al the reporting end date.. Amounts owed to related parties 2025 2024 H Weiss P Weiss 283,229 383,231 283,229 383,231 666,460 666,460 16 Subsldlarlès Details of the charitls subsidiaries at 31 March 2025 are as follows.. Name of undertaking Registered office Nature of business Class of share5 held °h Held Direct Indirect Bermin Investments Limited England & Wales Property Investors Ordinary 100 The aggregate capitsl and reserves and the result for the year of subsidiaries excluded from consolidation was as follows.. Narne of undertaking ProfiUILossl Capital and Reserves Bemiin Invastmènts Limitad 53,588 12-