COMPANY NUMBER: 01342362 (ENGLAND & WALES)
CHARITY REGISTERED NUMBER: 274896
COL-RENO LIMITED
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE GOVERNORS AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[th] APRIL 2023
COL-RENO LIMITED (A COMPANY LIMITED BY GUARANTEE)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[th] APRIL 2023
| Page | |
|---|---|
| Company Information | 1 |
| Report of the Governors | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 |
| Independent Examiner’s Report | 8 |
| Schedule of Grants and Donations | 9 |
COL-RENO LIMITED (A COMPANY LIMITED BY GUARANTEE)
COMPANY INFORMATION FOR THE YEAR ENDED 5[th] APRIL 2023
GOVERNORS:
M H Stern A E Stern Mrs R Davis K Davis C A Stern Mrs L Goldstein
SECRETARY:
Mrs R Davis
REGISTERED OFFICE: 2 Helenslea Avenue London NW11 8ND
COMPANY NUMBER: 1342362 (England and Wales) REGISTERED CHARITY NUMBER: 274896
ACCOUNTANTS: STERN ASSOCIATES Chartered Accountants 2 Helenslea Avenue London NW11 8ND
Page 1
COL-RENO LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE GOVERNORS FOR THE YEAR ENDED 5[th] APRIL 2023
The Governors (who are also the directors for Companies Act purposes) present their report with the financial statements of the company for the year ended 5[th] April 2023.
STRUCTURE, GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
The charity was constituted as a company limited by guarantee on 5[th] December 1977, and is governed by the Memorandum and Articles of Association dated 17[th] November 1977.
GOVERNORS
The Governors shown below have held office during the whole of the period from 6[th] April 2022 to the date of this report.
M H Stern A E Stern Mrs R Davis K Davis C A Stern Mrs L Goldstein
The Governors are appointed by the members in accordance with the company’s Articles of Association.
OBJECTIVES AND ACTIVITIES
The company is registered as a charity and its' principal activity in the year under review was to advance religion in accordance with the Orthodox Jewish Faith by the provision of grants and donations.
ACHIEVEMENTS AND PERFORMANCE
During the year the company continued to receive rents from its investment properties, totalling £128,586 (2022 - £135,082) and made grants and donations totalling £100,593 (2022 - £100,075).
FINANCIAL REVIEW
INVESTMENT POLICY
The charity continues to invest in freehold properties, which provide the charity with rental income to support its charitable activities. The Governors believe that, the investment in assets is sufficient to support the needs of the charity.
RESERVES POLICY
The Governors endeavour to maintain sufficient funds at all times to meet any foreseeable liabilities.
PLANS FOR FUTURE PERIODS
The company will continue to advance religion in accordance with the Orthodox Jewish Faith by the provision of grants and donations.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
ON BEHALF OF THE BOARD:
Mrs R Davis - Secretary
4 September 2023
Page 2
COL-RENO LIMITED (A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5[th] APRIL 2023
| Notes Incoming resources Investment Income 2 Total Incoming Resources Resources Expended Charitable activities 3 Costs of generating funds 4 Governance Costs 5 Total resources expended Net movement in funds Total funds brought forward Total funds carried forward |
Unrestricted Funds £ 128,586 128,586 100,593 32,233 3,336 135,162 (6,576) 730,418 723,842 |
Total Funds 5.4.23 £ 128,586 128,586 100,593 32,233 3,336 135,162 (6,576) 730,418 723,842 |
Total Funds 5.4.22 £ 135,082 |
|---|---|---|---|
| 135,082 | |||
| 100,075 20,599 1,902 |
|||
| 122,576 | |||
| 12,506 717,912 |
|||
| 730,418 |
The notes on pages 5 to 7 form part of these financial statements
Page 3
COL-RENO LIMITED (A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET AS AT 5[th] APRIL 2023
| Notes FIXED ASSETS Investment property 6 CURRENT ASSETS Other debtors Prepayments and accrued income Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS RESERVES Revaluation reserve 8 Unrestricted funds 8 |
5.4.23 £ £ 2,175,000 873 690 139,356 140,919 36,367 104,552 2,279,552 2,279,552 1,555,710 723,842 2,279,552 |
5.4.22 £ £ 2,175,000 400 1,721 145,760 147,881 36,753 111,128 2,286,128 2,286,128 1,555,710 730,418 2,273,622 |
5.4.22 £ £ 2,175,000 400 1,721 145,760 147,881 36,753 111,128 2,286,128 2,286,128 1,555,710 730,418 2,273,622 |
|---|---|---|---|
| 140,919 36,367 |
147,881 36,753 |
||
| 2,286,128 | |||
| 2,286,128 | |||
| 1,555,710 730,418 |
|||
| 2,273,622 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies for the year ended 5[th] April 2023.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 5[th] April 2022 in accordance with Section 476 of the Companies Act 2006.
The Governors acknowledge their responsibilities for:
-
(a) ensuring that the company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006 and
-
(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 Section 394 & 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 special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
The financial statements were approved by the Board of Governors on 4 September 2023 and were signed on its behalf by:
Mrs R Davis - Governor
The notes on pages 5 to 7 form part of these financial statements
Page 4
COL-RENO LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[th] APRIL 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS102, are prepared under the historical cost convention and in accordance with FRS102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS102 and the Companies Act 2006.
Incoming resources
All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Rents receivable
Rents are recognised in the statement of financial activities in the year that they relate to.
Interest receivable
Interest income is recognised in the statement of financial activities in the year in which it is receivable.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
Charitable activities
Donations payable are accounted for when the charity is committed to pay them.
Costs of generating funds
These comprise of insurance, repairs and other costs associated with rental properties
Governance costs
These relate to expenditure incurred in the management of the charity's assets, organisational administration, and compliance with constitutional and statutory requirements
Deferred taxation
No provision has been made for deferred taxation as in the opinion of the directors; there is reasonable probability that no liability will arise in the foreseeable future.
Investment property
The investment property (freehold land and buildings) is revalued periodically and the aggregate surplus or deficit is transferred to a revaluation reserve. No provision is made for depreciation of the freehold investment property.
Page 5
continued...
COL-RENO LIMITED (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5[th] APRIL 2023
| 2. INCOMING RESOURCES Investment Income Rental income 3. CHARITABLE ACTIVITIES Grants and donations 4. COSTS OF GENERATING FUNDS Property expenses Insurance Management fees Travelling 5. GOVERNANCE COSTS Accountancy fees Bank charges Sundry expenses Legal fees |
5.4.23 £ 128,586 5.4.23 £ 100,593 5.4.23 £ 11,210 1,012 15,866 3,145 31,233 5.4.23 £ 1,500 260 159 1,417 3,336 |
5.4.22 £ 135,082 5.4.22 £ 100,075 5.4.22 £ 4,962 310 14,329 998 20,599 5.4.22 £ 1,440 369 93 - 1,902 |
|---|---|---|
Page 6
continued...
COL-RENO LIMITED (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5[th] APRIL 2023
6. INVESTMENT PROPERTY
| COST OR VALUATION At 6thApril 2022 Additions during the year Revaluations during the year At 5thApril 2023 NET BOOK VALUE At 5thApril 2023 At 5thApril 2022 |
Total £ 2,175,000 - - |
|---|---|
| 2,175,000 | |
| 2,175,000 | |
| 2,175,000 |
The investment property (freehold land and buildings) was revalued by the Governors in 2023. The Governors consider that the cost of a current professional valuation would not be justified due to the fluctuations in the property market. If the investment property had not been included at valuation, it would have been included under the historical cost convention at £619,290 (2022: £619,290).
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other creditors |
5.4.23 £ 34,568 1,799 36,367 |
5.4.22 £ 31,568 5,185 |
|---|---|---|
| 36,753 |
8. RESERVES
| At 6thApril 2022 Surplus / (Deficit) for the year At 5thApril 2023 |
Unrestricted funds £ 730,418 (6,576) 723,842 |
Revaluation reserve £ 1,555,710 - 1,555,710 |
Totals £ 2,286,128 (6,576) 2,279,552 |
|---|---|---|---|
Page 7
INDEPENDENT EXAMINERS REPORT TO THE BOARD OF GOVERNORS ON THE UNAUDITED FINANCIAL STATEMENTS OF
COL-RENO LIMITED (A COMPANY LIMITED BY GUARANTEE)
I report on the accounts of the company for the year ended 5[th] April 2023, which are set out on pages 2 to 7.
Respective responsibilities of governors and examiner
The governors (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity's governors consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention to indicate that:
-
accounting records have not been kept in accordance with section 386 of the Companies Act 2006;
-
the accounts do not accord with the accounting records:
-
the accounts comply with the accounting requirements of section 396 of the Companies Act 2006 or a not consistent with the Charites SORP (FRS102)
-
any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts.
S. D. Stern
STERN ASSOCIATES Chartered Accountants 2 Helenslea Avenue London NW11 8ND
4 September 2023
Page 8
COL-RENO LIMITED (A COMPANY LIMITED BY GUARANTEE) SCHEDULE OF GRANTS AND DONATIONS FOR THE YEAR ENDED 5[th] APRIL 2023
| £ | |
|---|---|
| Keren Shmuel | 19,900 |
| Lubavitch of Liverpool | 11,740 |
| Chabad of Oxford | 8,300 |
| The Jerusalem Foundation | 8,000 |
| Laniado UK Shield House | 4,275 |
| Uk Friends of Shneider Hospital | 3,980 |
| Chabad of Southgate | 2,920 |
| Friends of Rabbinical College Kol Torah | 2,750 |
| Chabad of Islington | 2,200 |
| Hadassah UK | 2,160 |
| Lubavitch of Southgate | 1,880 |
| Hendon Adath Yisroel Cong | 1,860 |
| British Friends of Adi Israel | 1,800 |
| Chabad Lubavitch of Oxford | 1,600 |
| Amud Hatzdokah Trust | 1,440 |
| Chabad Lubavitch Brighton | 1,360 |
| JTrails | 1,125 |
| Sephardi Voices Uk | 1,000 |
| Oxford Centre for Hebrew and Jewish Studies | 1,000 |
| Strawberry Hill House | 1,000 |
| Britsh Emunah Fun | 1,000 |
| Prism the Gift fund | 1,000 |
| Camp Simcha | 1,000 |
| Sir martin Gilbert Learning Centre | 1,000 |
| Jewish Book Council | 1,000 |
| The Association of Jewish Refugees | 1,000 |
| Jewish Historical Society of Engalnd CIO | 1,000 |
| UK Toremet Ltd | 1,000 |
| Israel Guide Dog Centre | 792 |
| Friends of Yeshivat Lomdei Torah | 720 |
| UK Friends of Schneider Hospital | 720 |
| Magen David Adom UK | 720 |
| Magen David Adom | 720 |
| Friends of Lubavitch of Scotland | 720 |
| Shaare Zedek UK | 600 |
| The Jewish Centre for special educaion | 500 |
| Royal Society of Blind Children | 420 |
| Lubavitch of Islington | 360 |
This page does not form part of the statutory financial statements
Page 9
COL-RENO LIMITED (A COMPANY LIMITED BY GUARANTEE) SCHEDULE OF GRANTS AND DONATIONS CONTINUED FOR THE YEAR ENDED 5[th] APRIL 2023
| UK Friends of Keren Ohr British Friends of Rambam Medical Centere Marie Curie Breast Cancer Now Amud Hatzedokah Trust Together Against Cancer Nightingale Tzivos Hashem UK Friends of Yad Sarah Lev Ariel Zionist Federation Boys Town Jerusalem FD-UK Ohel Sarah Uk Boys Town Jerualem Brain Research Kollel Shomrei Hachamoth Acheinu Cancer Support Keren Lekinow Yisroel Beachshore Design Ltd re Shalom Susssex J Traits Diabetes Research & Wellness Foundation Ohel Sarah Strike A Light |
£ 360 360 360 360 360 360 360 360 360 360 360 180 180 180 180 180 180 180 180 161 125 120 120 105 |
|---|---|
| 100,593 |
This page does not form part of the statutory financial statements
Page 10