REGISTERED COMPANY NUMBER: 01243006 (England and Wales) REGISTERED CHARITY NUMBER: 271251
SANHORN LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
SANHORN LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 | |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 | |
| Notes to the Financial Statements | 6 to | 9 |
SANHORN LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2021
TRUSTEES S Horovitz M Horovitz A Horovitz Mrs R Klein Mrs S Lipschitz REGISTERED OFFICE First Floor 94 Stamford Hill London N16 6XS REGISTERED COMPANY 01243006 (England and Wales) NUMBER REGISTERED CHARITY 271251 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS BANKERS Barclays Bank plc 1 Churchill Place London E14 5HP
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SANHORN LIMITED (REGISTERED NUMBER: 01243006)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).
Reference and administrative details
Reference and administrative details is shown on page 1 of the financial statements and forms part of this report.
OBJECTIVES AND ACTIVITIES
Objectives for public benefit
The objects of the charity are the advancement of religion in accordance with the Orthodox Jewish Faith, the relief of poverty and such other purposes as are recognised by English Law as charitable.
The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities, and setting the grant making policy for the year.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
There was an increase in income of about 27% although the trustees increased grantmaking substantially from reserves held.
FINANCIAL REVIEW
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £438,716 (2019 - £480,616).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 4 February 1976.
Organisational structure
The power to appoint new trustees is vested in the current board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
Risk management
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 21 December 2021 and signed on its behalf by:
S Horovitz - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SANHORN LIMITED
Independent examiner's report to the trustees of Sanhorn Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts 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 accounts 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.
E Meyer FCA BSc Institute of Chartered Accountants in England and Wales Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
21 December 2021
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SANHORN LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 7,000 Investment income 2 21,395 Total 28,395 EXPENDITURE ON Raising funds 3 678 Charitable activities 4 Charitable activities 69,617 Total 70,295 NET INCOME/(EXPENDITURE) (41,900) RECONCILIATION OF FUNDS Total funds brought forward 480,616 TOTAL FUNDS CARRIED FORWARD 438,716 |
2020 Total funds £ - 22,774 22,774 - 30,443 30,443 (7,669) 488,285 480,616 |
|---|---|
The notes form part of these financial statements
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SANHORN LIMITED (REGISTERED NUMBER: 01243006)
BALANCE SHEET 31 MARCH 2021
| Notes CURRENT ASSETS Debtors 9 Investments 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds: General fund TOTAL FUNDS |
2021 Total funds £ 430,750 - 10,376 441,126 (2,410) 438,716 438,716 438,716 438,716 438,716 |
2020 Total funds £ 430,750 50,000 1,922 482,672 (2,056) 480,616 480,616 480,616 480,616 480,616 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 21 December 2021 and were signed on its behalf by:
S Horovitz - Trustee
The notes form part of these financial statements
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SANHORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Income from investments is included in the year in which it is receivable.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Going concern
There are no material uncertainties about the charity's ability to continue.
Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the amount expected to be received or paid and not discounted.
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SANHORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
| 2. INVESTMENT INCOME 2021 Unrestricted funds £ Deposit account interest 4 Loan interest received 21,000 Current asset investment income 391 21,395 3. RAISING FUNDS Raising donations and legacies 2021 Unrestricted funds £ Support costs 678 4. CHARITABLE ACTIVITIES COSTS Grant funding of activities Support (see note costs (see 5) note 6) £ £ Charitable activities 68,705 912 5. GRANTS PAYABLE 2021 £ Charitable activities 68,705 The total grants paid to institutions during the year was as follows: 2021 £ Advancement of education 15,841 Relief of poverty 24,000 Advancement of religion 18,414 General purpose 100 Medical - Social welfare 10,350 68,705 Netzach Charitable Trust 18,904 Wlodowa Charity 10,000 Edupoor Ltd 7,000 Donations below £5,000 32,801 68,705 |
2020 Total funds £ 12 22,075 687 |
|
|---|---|---|
| 22,774 | ||
| 2020 Total funds £ - Totals £ 69,617 |
||
| 2020 £ 28,973 |
||
| 2020 £ 16,479 10,750 1,476 100 168 - |
||
| 28,973 | ||
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SANHORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
6. SUPPORT COSTS
| SUPPORT COSTS | |||||
|---|---|---|---|---|---|
| Governance | |||||
| Finance | costs | Totals | |||
| £ | £ | £ | |||
| Raising donations and legacies | 96 | 582 | 678 | ||
| Charitable activities | - | 912 | 912 | ||
| 96 | 1,494 | 1,590 | |||
| Support costs, included in the above, are as follows: | |||||
| Finance | |||||
| 2021 | 2020 | ||||
| Raising | |||||
| donations | |||||
| and | Total | ||||
| legacies | activities | ||||
| £ | £ | ||||
| Bank charges | 96 | 162 | |||
| Governance costs | |||||
| 2021 | 2020 | ||||
| Raising | |||||
| donations | |||||
| and | Charitable | Total | Total | ||
| legacies | activities | activities | activities | ||
| £ | £ | £ | £ | ||
| Independent examiner's fee | - | 600 | 600 | 540 | |
| Independent examiner's other fees | - | 600 | 600 | 540 | |
| General expenses | 522 | (228) | 294 | 228 | |
| 582 | 912 | 1,494 | 1,308 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
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SANHORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
8. AVERAGE STAFF NUMBERS
The average number of staff during the year was Nil (2019 - Nil).
| 9. DEBTORS Amounts falling due within one year: Other debtors Amounts falling due after more than one year: Other debtors Aggregate amounts 10. CURRENT ASSET INVESTMENTS National Savings Income Bond 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accruals and deferred income |
2021 £ 10,750 420,000 430,750 2021 £ - 2021 £ 688 1,722 2,410 |
2020 £ 10,750 |
2020 £ 10,750 |
||
|---|---|---|---|---|---|
| 420,000 | |||||
| 430,750 | |||||
| 2020 £ 50,000 |
|||||
| 2020 £ 688 1,368 |
|||||
| 2,056 |
12. RELATED PARTY DISCLOSURES
Other debtors represents amounts due from companies of which one of the trustees of this charitable company is also a director.
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