**Charity registration number 274013** **Company registration number 01288811 (England and Wales)** # **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr. J. Schimmel| |---|---| ||Mr J. S. Cooper| |**Charity number**|274013| |**Company number**|01288811| |**Registered office**|6 Princes Park Avenue| ||London| ||NW11 0JP| |**Auditor**|Landau Morley LLP| ||325-327 Oldfield Lane North| ||Greenford| ||Middlesex| ||UB6 0FX| |**Solicitors**|Stone King LLP| ||91 Charterhouse Street| ||London| ||EC1M 6HR| ## **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) CONTENTS** ||**Page**| |---|---| |Charity's report|1 - 2| |Statement of Charity's responsibilities|3| |Independent auditor's report|4 - 6| |Statement of financial activities|7| |Balance sheet|8| |Notes to the financial statements|9 - 17| **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) CHARITY'S REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). ## **Objectives and activities** The charity objects of the Bettenhurst Charity Limited are to further those purposes recognised as charitable by English Law, including supporting religious, educational and other charitable institutions. There have been no changes in these objects during the year. These Financial Statements comply with current statutory requirements and the Charity's governing document. ## **Compliance with charity commission guidance** The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake as well as 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. ## **Grant making policy** Grants are made to charitable institutions and organisations after it has been satisfied that payments will accord with the objectives of the charity. The charity receives income from its investment properties, which it utilizes to provide grants. ## **Achievements and performance** During the year, the Charity continued its philanthropic activities and made grants to charitable causes supporting religious educational and other charitable institutions amounting to £308,187 (2023: £549,581). The charity's investments have achieved a return of some 4% based on current valuation of the properties. The charity does not engage in any fundraising activities. The charity's results have enabled it to achieve its objectives. The Trustees have continued the policy of making grants to charitable organisations and will pursue this policy in the future. ## **Financial review** The charity achieved pleasing results for the year, with rental income arising in the year of £91,768 (2023: £99,715), The total incoming resources for the year were £368,356 (2023: £437,405). The charity also made a foreign exchange loss of £19,750 (2023: gain £58,530) from its other investments. The net profit of the charity's subsidiary after property valuations was £24,663 (2023: £176,179). The subsidiary made a distribution under gift aid of £136,861 (2023: £236,742) in the year. Grants payable in the year were £308,187 (2023: £549,581). ## **Reserves policy** The charity has a reserves policy to ensure that it is in a position to continue its grant-making activities and to cover contingencies. As of 31 March 2024, the charity had free reserves of £299,993 (2023: £273,175) calculated by reference to the charity's net current assets as at that date. Significant grants were made during the year, which reduced free reserves to a level more consistent with the charity's objectives. The level of reserves are closely monitored to ensure that they are adequate to meet the obligations of the charity as and when they fall due. - 1 - ## **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) CHARITY'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **Investment policy** The trustees are permitted by the Memorandum and Articles of Association to invest in such assets as they consider appropriate. The investment policy is to make investments of the charity's free funds, which provide a secure stream of income with potential for increases in capital growth with particular preference for low risk secure and reversionary property investments. ## **Risk management** The Trustees have examined the major strategic business and operational risks which the charity faces and confirm that systems are in place to enable regular reports to be made available so that necessary steps can be taken to manage these risks. ## **Plans for future periods** The Trustees plan to continue to make distributions in accordance with the grant making policy and to ensure that the ability to generate sufficient income is maintained to achieve that end. ## **Structure, governance and management** The company is a registered charity (charity registration number 274013) and is governed by its Memorandum and Articles of Association. The charity is a company limited by guarantee (company registration number 01288811) and has no share capital. The liability of each member in the event of winding up is limited to £1. The Trustees meet regularly to review the finances of the Charity and to approve donations. Professional advice and assistance are sought when deemed necessary. The charity has a wholly owned subsidiary, Tareave Limited, whose principal activity is that of property investment. The results of the subsidiary are set out on page 15 of the financial statements. ## **Administrative details** The trustees, 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. J. Schimmel Mr J. S. Cooper ## **Recruitment and appointment of trustees** New trustees are appointed by the existing Board of Trustees. Should new trustees be appointed, the Trustees will apply suitable recruitment and training procedures. ## **Small Company Provisions** This report has been prepared in accordance with the provisions applicable to companies entitled to the companies' provisions. ## **Auditor** Landau Morley LLP are deemed to be re-appointed under section 487(2) of the Companies Act 2006. ## **Disclosure of information to auditor** Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The Charity's report was approved by the Board of Trustees. .............................. **Mr J. S. Cooper** Trustee 31 Dec 2024 Dated: ......................... - 2 - ## **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CHARITY'S RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ The trustees, who are also the directors of Bettenhurst Charity Limited for the purpose of company law, are responsible for preparing the Charity's Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 3 - **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BETTENHURST CHARITY LIMITED** ## **Opinion** We have audited the financial statements of Bettenhurst Charity Limited (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). - In our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Charity's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the Charity's report; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit. - 4 - **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BETTENHURST CHARITY LIMITED** ## **Responsibilities of trustees** As explained more fully in the statement of Charity's responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor's responsibilities for the audit of the financial statements** We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. ## **Extent to which the audit was considered capable of detecting irregularities, including fraud** Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations – this responsibility lies with management with the oversight of the trustees. The extent to which our procedures can detect irregularities, including fraud, is detailed below. - We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with management (as required by auditing standards). - We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items. - 5 - ## **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BETTENHURST CHARITY LIMITED** - Except for any known or possible non-compliance, and as required by auditing standards, our work in respect of these included enquiry of management about company's policies, procedures, and related controls regarding compliance with laws and regulations and if there are any known instances of noncompliance. - We tested the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business. - We performed analytical procedures to identify any unusual or unexpected relationships. - We examined supporting documents for all material balances, transactions and disclosures. - We evaluated the selection and application of accounting policies related to subjective measurements and complex transactions. Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements of the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). The potential effects of inherent limitations are particularly significant in the case of misstatement resulting from fraud because fraud may involve sophisticated and carefully organized schemes designed to conceal it, including deliberate failure to record transactions, collusion or intentional misrepresentations being made to us. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. ## **Use of our report** This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. **Landau Morley LLP** ......................... **Chartered Accountants Statutory Auditor** 325-327 Oldfield Lane North Greenford Middlesex UB6 0FX Landau Morley LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. - 6 - ## **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ |**Unrestricted**
**funds**
**2024**
**Notes**
**£**
**Income and endowments from:**
Donations and legacies
**3**
136,861
Investment Income
**4**
230,635
Other income
**5**
860
**Total income**
368,356
**Expenditure on:**
Raising funds
**6**
22,425
Charitable activities
**8**
319,113
**Total resources expended**
341,538
Net gains/(losses) on investments
**14**
(19,750)
**Net movement in funds**
7,068
Fund balances at 1 April 2023
3,923,897
**Fund balances at 31 March 2024**
3,930,965|Total
2023
**£**
236,742
196,740
3,923
437,405
19,453
560,584
580,037
58,530
(84,102)
4,007,999
3,923,897| |---|---| The statement of financial activities includes all 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 activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 7 - ## **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET** ## _**AS AT 31 MARCH 2024**_ |**Notes**
**Fixed assets**
Investment property
**16**
Investments
**17**
**Current assets**
Debtors
**18**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**19**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds
**TOTAL FUNDS (including fair value**
**reserve of £880,110 (2023: £880,110))**|**2024**
**£**
**£**
2,680,477
950,495
3,630,972
252,067
69,901
321,968
(21,975)
299,993
3,930,965
3,930,965
3,930,965|**2023**
**£**
**£**
2,680,477
970,245
3,650,722
139,276
161,656
300,932
(27,757)
273,175
3,923,897
3,923,897
3,923,897|**2023**
**£**
**£**
2,680,477
970,245
3,650,722
139,276
161,656
300,932
(27,757)
273,175
3,923,897
3,923,897
3,923,897| |---|---|---|---| ||||3,650,722
273,175| ||||3,923,897| ||||3,923,897| ||||3,923,897| ||||| The charity's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The Trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the charity to obtain an audit for the year in question in accordance with section 476 of the Act. However, an audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. The financial statements were approved by the Trustees on .........................31 Dec 2024 .............................. Mr J. S. Cooper **Trustee** ## **Company Registration No. 01288811** - 8 - **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 Accounting policies** ## **Charity information** Bettenhurst Charity Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 6 Princes Park Avenue, London, NW11 0JP. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. ## **Company status** The charity is a company limited by guarantee. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue 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 trustees in furtherance of their charitable objectives. ## **1.4 Incoming resources** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. ## **1.5 Resources expended** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Grants payable are charged in the year in which the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All resources expended are inclusive of irrecoverable VAT. - 9 - **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 Accounting policies** ## **(Continued)** ## **1.6 Investment properties** Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Fair value is determined by the trustees or external valuers and derived from the current market rents and investment property yields for comparable real estates, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Financial Activities. ## **1.7 Fixed asset investments** A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.8 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.9 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.10 Financial 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 instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to 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. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. - 10 - **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 Accounting policies** ## **(Continued)** ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.11 Consolidation** The charity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the Charity and its subsidiary undertaking comprise a small group. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Income from donations and legacies** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Donations and gifts|136,861|236,742| - 11 - **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **4 Investment Income** |||**Unrestricted **|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|2023| |||**£**|£| ||Rental income|91,768|99,715| ||Interest receivable|138,867|97,025| |||230,635|196,740| |**5**|**Other income**||| |||**Unrestricted **|**Unrestricted**| |||**funds**|**funds**| |||**2024**|2023| |||**£**|£| ||Other income|860|3,923| |**6**|**Raising funds**||| |||**Unrestricted **|**Unrestricted**| |||**funds**|**funds**| |||**2024**|2023| |||**£**|£| ||Property outgoings|22,425|19,453| |||22,425|19,453| ## **7 Charitable activities** |**Activities**
**undertaken**
**directly**
**£**
Grant funding of activities (see note 8)
308,187
Share of governance costs (see note 9)
-
308,187|**Support**
**costs**
**£**
-
10,926
10,926|**Total**
**2024**
**£**
308,187
10,926
319,113|**Total**
**2023**
**£**
549,581
11,003| |---|---|---|---| ||||560,584| - 12 - **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **8 Grants payable** |Grants to institutions:
Achisomoch Aid Company
Asser Bishvil Foundation
The Rabbi Sacks Legacy Trust Ltd
Farmwood Charitable Foundation
JNF Charitable Trust
Friends of Mosdos Torah Veyira
KKL Charity Accounts
Friends of Ohr Torah Ltd
Ahavat Yisroel UK
British Friends of Yeshivat Har Etzion Trust
Mizrachi UK Israel Support Trust
Yeshivas Ohel Shimon Trust
UK Toremet Ltd
UK Gives Ltd
British Friends of Igud Hakolelim B'Yerushalayim
Tikva UK
Others (less than £5,000 each)|**2024**
**£**
12,500
-
20,000
-
-
8,450
40,000
15,500
120,350
-
-
11,000
9,500
7,900
-
57,000
5,987
308,187|**2023**
**£**
77,000
79,000
-
80,000
25,500
-
-
16,500
102,700
124,000
18,000
-
-
4,050
6,000
-
16,831| |---|---|---| |||549,581| Grants to institutions above relate to grants to religious educational and other charitable institutions. ## **9 Support costs** |**Support costs**|||| |---|---|---|---| |Audit fees
Legal and professional
Other expenses|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
-
6,372
-
4,230
-
324
-
10,926|**2024**
**£**
6,372
4,230
324
10,926|2023
£
5,838
4,800
365| ||||11,003| During the year, the charity incurred governance costs of £10,926 (2023: £11,003) ## **10 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. - 13 - ## **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **11 Auditor's remuneration** |**2024**
**2023**
**£**
**£**
Audit of the annual accounts
6,372
5,838
**12**
**Employees**
The average monthly number of employees during the year was:
**2024**
**2023**
**Number**
**Number**
Total
-
-|**2024**
**£**
6,372|**2023**
**£**
5,838| |---|---|---| |||| The charity has no employees other than the Trustees. The Trustees did not receive any remuneration (2023: £nil). During the year no Trustee received any benefits in kind (2023: £nil). During the year no Trustee received any reimbursement of expenses (2023: £nil). No employee received remuneration amounting to more than £60,000 in the year (2023: none). ## **13 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## **14 Net gains/(losses) on investments** ||**Unrestricted**|Total| |---|---|---| ||**funds**|| ||**2024**|2023| ||**£**|£| |Revaluation of investments|(19,750)|58,530| - 14 - **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **15 PRINCIPAL SUBSIDIARY** ## **Tareave limited** Name of subsidiary Tareave Limited Company registration number 01251471 Equity shareholding % 100% Total assets as at 31 March 2024 £3,134,148 Total liabilities as at 31 March 2024 £599,307 Total equity as at 31 March 2024 £2,534,841 Turnover for the year ended 31 March 2024 £223,880 Expenditure for the year ended 31 March 2024 £62,371 **Profit for the year ended 31 March 2024 £161,509** Distributions to parent under gift aid £136,861 ## **16 INVESTMENT PROPERTY** |**Cost or valuation**
At 1 April 2023
At 31 March 2024
**Carrying amount**
At 31 March 2024
At 31 March 2023|**Freehold**
**investment**
**property**
**£**
2,010,477
2,010,477
2,010,477
2,010,477|**Long term**
**leasehold**
**investment**
**property**
**£**
670,000
670,000
670,000
670,000|**Total**
**£**
2,680,477| |---|---|---|---| ||||2,680,477| ||||2,680,477| ||||2,680,477| The investment properties were valued by the Trustees as at 31 March 2024 on the basis of fair value for existing use. The historical cost of the properties included above at valuation was £1,800,367 (2023: £1,800,367). - 15 - **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ |**17**
**Fixed asset investments**
**Cost or valuation**
At 1 April 2023
Valuation changes
At 31 March 2024
**Carrying amount**
At 31 March 2024
At 31 March 2023
**18**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**19**
**Creditors: amounts falling due within one year**
Other taxation and social security
Other creditors
Accruals and deferred income|**Unlisted**
**investments**
**£**
970,245
(19,750)
950,495
950,495
970,245
**2024**
**2023**
**£**
**£**
252,067
139,276
**2024**
**2023**
**£**
**£**
1,875
2,292
9,500
11,315
10,600
14,150
21,975
27,757| |---|---| ## **20 Unrestricted funds** ||**At 1 April**|**Incoming**|**Resources**|**Gains and**|**At 31 March**| |---|---|---|---|---|---| ||**2023**|**resources**|**expended**|**losses**|**2024**| ||**£**|**£**|**£**|**£**|**£**| |General funds|3,923,897|368,356|(341,538)|(19,750)|3,930,965| - 16 - **BETTENHURST CHARITY LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ |**20**|**Unrestricted funds**|||||**(Continued)**| |---|---|---|---|---|---|---| ||**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**Gains and**|**At 31 March**| |||**2022**|**resources**|**expended**|**losses**|**2023**| |||**£**|**£**|**£**|**£**|**£**| ||General funds|4,007,999|437,405|(580,037)|58,530|3,923,897| ## **21 Analysis of net assets between funds** |**Analysis of net assets between funds**||| |---|---|---| ||**Unrestricted**|**Total funds**| ||**funds**|| ||**2024**|**2024**| ||**£**|**£**| |Fund balances at 31 March 2024 are represented by:||| |Investment property|2,680,477|2,680,477| |Investments|950,495|950,495| |Current assets/(liabilities)|299,993|299,993| ||3,930,965|3,930,965| ## **22 Related party transactions** Donations of £136,861 (2023: £236,742) were received from Tareave Limited, the charity's subsidiary undertaking. Grants of £Nil (2023: £80,000), £20,000 (2023: £Nil) and £1,000 (2023: £Nil) were paid to Farmwood Charitable Foundation, The Rabbi Sacks Legacy Trust & UKI Charitable Foundation respectively, all UK charities with a trustee in common with this charity during the year. - 17 - ## **SIGNATURE CERTIFICATE** ## Document Name **AC - BETTENHURST FINAL 2024.pdf** Creator **Mike Haberfeld (mah@landaumorley.co.uk)** Date **31 December 2024 14:59:41 UTC** Identifier **e2d366c5-06b9-45b9-90a4-466a3c36b80b** ## Signers ## **jeffreyc@ukinvest.uk.com** E-mail **jeffreyc@ukinvest.uk.com** Signed **31 December 2024 15:46:14 UTC** IP address **188.28.38.222**