Charity number: 275629 Company number: 01357295
(England and Wales)
Bulanstar Limited
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 March 2022
Bulanstar Limited Contents Page For the year ended 31 March 2022
| Report of the Trustees | 1 to 2 |
|---|---|
| Independent Examiner's Report to the Trustees | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 |
| Notes to the Financial Statements | 6 to 10 |
| Detailed Statement of Financial Activities | 11 |
Bulanstar Limited Report of the Trustees
For the year ended 31 March 2022
The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 March 2022. 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are to advance religion in accordance with the Orthodox Jewish Faith and to support other charitable activities as are recognised under English Law.
Each year the trustees review their objectives and activities to ensure that they continue to reflect the trustees' aims. In carrying out their review the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance, with focused regard towards the advancement of the Orthodox Jewish Faith and all its facets for the public benefit.
Statement on public benefit
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
ACHIEVEMENTS AND PERFORMANCE
Achievements against objectives
The charity has achieved its objectives during the year by supporting charitable causes and by maximising income from its available resources with the minimum of risk.
FINANCIAL REVIEW
The charity enhanced its overall asset position by maximising the income from its available assets.
The charity received donations to supplement its income. The charitable expenditure was increased from that of the previous year.
Reserves
The trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission and have concluded that the general surplus is sufficient to achieve its objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is governed by a the Memorandum and Articles of Association dated 13 March 1978, and formally registered with the Charity Commission on 31 July 1978.
Recruitment and appointment of trustees
The charity is managed exclusively by the trustees.
The charity's trustees periodically evaluate possible training requirement to best suit the charity's objectives.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity Bulanstar Limited Charity registration number 275629 Company registration number 01357295 Principal address Hallswelle House 1 Hallswelle Road London NW11 0DH
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Bulanstar Limited Report of the Trustees Continued For the year ended 31 March 2022
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mrs E Mayersohn Mr C Z Mayersohn Mr N Mayersohn Secretary Mrs E Mayersohn Independent examiners Clearfin Accountants Limited Churchill House 137-139 Brent Street London NW4 4DJ
Approved by the Board of Trustees and signed on its behalf by
............................................................................. 20 November 2022 Mr N Mayersohn
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Independent Examiners Report to the Trustees
Bulanstar Limited
For the year ended 31 March 2022
I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity Trustees, who are also directors for the purposes of company law, 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 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 examiners 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 that in any material respect:
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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 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.
Isaac Hajioff Chartered Accountant Clearfin Accountants Limited Churchill House 137-139 Brent Street London NW4 4DJ
20 November 2022
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Bulanstar Limited
Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 March 2022
| Notes Income and endowments from: Donations and legacies 2 Investments 3 Total Expenditure on: Charitable activities 4/5 Total Net gains/(losses) on investments Other recognised gains/losses Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 37,000 14,000 51,000 (74,395) (74,395) - (23,395) 757,112 733,717 |
2021 £ 40,000 1,875 |
|---|---|---|
| 41,875 | ||
| (166,778) | ||
| (166,778) | ||
| (7,250) | ||
| (132,153) | ||
| 889,265 | ||
| 757,112 |
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Registered Number : 01357295
Bulanstar Limited Statement of Financial Position
As at 31 March 2022
| Notes Fixed assets Investments 10/11 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Net assets The funds of the charity Unrestricted income funds 13 Total funds |
£ 2022 121 121 743,530 743,530 (9,934) 733,596 733,717 733,717 733,717 733,717 |
£ 2021 121 |
|---|---|---|
| 121 | ||
| 763,925 | ||
| 763,925 | ||
| (6,934) 756,991 |
||
| 757,112 | ||
| 757,112 | ||
| 757,112 | ||
| 757,112 |
For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance
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with section 476,
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The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting
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records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Mr N Mayersohn Trustee 20 November 2022
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Bulanstar Limited Notes to the Financial Statements For the year ended 31 March 2022
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Companies Act 2006.
Bulanstar Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Going concern
There are no material uncertainties about the charity's ability to continue.
Incoming resources
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure.
Foreign currencies
Assets and liabilities at the year end date in foreign currencies are stated at the rate of exchange ruling at the balance sheet date. Any exchange gains or losses are stated as a movement on reserves.
Consolidation
The charity is not required to prepare consolidated accounts in accordance with the Charities Act 2011, and 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 undertakings comprise a small group.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
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Bulanstar Limited Notes to the Financial Statements Continued
For the year ended 31 March 2022
2. Income from donations and legacies
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Unrestricted funds | ||
| Donations received | 37,000 | 40,000 |
| 37,000 | 40,000 | |
| nvestment income | ||
| 2022 | 2021 | |
| £ | £ | |
| Unrestricted funds | ||
| Income from listed investments | 14,000 | 1,875 |
| 14,000 | 1,875 | |
| osts of charitable activities by fund type | ||
| 2022 | 2021 | |
| £ | £ | |
| Unrestricted funds | ||
| Chartiable donations paid | 73,200 | 165,400 |
| Support costs | 1,195 | 1,378 |
| 74,395 | 166,778 | |
| osts of charitable activities by activity type | ||
| 2022 | 2021 | |
| £ | £ | |
| Activities undertaken directly | ||
| Chartiable donations paid | ||
| Chartiable donations paid | 73,200 | 165,400 |
| Accountancy fees | 960 | 960 |
| Legal fees | 235 | 235 |
| Other finance costs | - | 183 |
| 74,395 | 166,778 | |
| 74,395 | 166,778 |
3. Investment income
4. Costs of charitable activities by fund type
5. Costs of charitable activities by activity type
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Bulanstar Limited Notes to the Financial Statements Continued
For the year ended 31 March 2022
6. Analysis of support costs
| nalysis of support costs | ||
|---|---|---|
| Governance costs Accountancy fees Legal fees Other finance costs et income/(expenditure) for the year This is stated after charging/(crediting): Accountancy fees (Gain)/Loss on disposal of fixed asset investments articulars of employees Staff |
2022 £ 960 235 - 1,195 2022 £ 960 - 2022 0 0 |
2021 £ 960 235 183 |
| 1,378 2021 £ 960 7,250 |
||
| 2021 0 |
||
| 0 |
7. Net income/(expenditure) for the year
8. Particulars of employees
9. Comparative for the Statement of Financial Activities
The comparative year values on the Statement of Financial Activites are for unrestricted funds.
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Bulanstar Limited Notes to the Financial Statements Continued
For the year ended 31 March 2022
Investments
10. Analysis of movement of commercial investments
| Market value at 01 April 2021 Market value at 31 March 2022 |
Investments in subsidiaries £ 121 |
|---|---|
| 121 | |
11. Analysis of investments between funds as at year ended 31 March 2022
| Unrestricted funds Investments in subsidiaries and related undertakings Creditors: amounts falling due within one year Other creditors Accruals and deferred income |
2022 £ 121 121 2022 £ 7,292 2,642 9,934 |
2021 £ 121 |
|---|---|---|
| 121 | ||
| 2021 £ 4,292 2,642 |
||
| 6,934 |
12. Creditors: amounts falling due within one year
13. Movement in funds
| Unrestricted Funds | |||||
|---|---|---|---|---|---|
| Balance at | Incoming | Outgoing | Gains and | Balance at | |
| 01/04/2021 | resources | resources | losses | 31/03/2022 | |
| £ | £ | £ | £ | £ | |
| General | |||||
| General | 757,112 | 51,000 | (74,395) | - | 733,717 |
| 757,112 | 51,000 | (74,395) | - | 733,717 |
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Bulanstar Limited Notes to the Financial Statements Continued
For the year ended 31 March 2022
Unrestricted Funds - Previous year
| General General Purpose of unrestricted Funds General To fund the activities of the charity 14. Analysis of net assets between funds Unrestricted funds General General Previous year Unrestricted funds General General |
Balance at 01/04/2020 £ 889,265 889,265 |
Incoming resources £ 41,875 41,875 |
Outgoing resources Gains and losses Balance at 31/03/2021 £ £ £ (166,778) (7,250) 757,112 (166,778) (7,250) 757,112 Investments Net current assets / (liabilities) Net Assets £ £ £ 121 733,596 733,717 121 733,596 733,717 Investments Net current assets / (liabilities) Net Assets £ £ £ 121 756,991 757,112 121 756,991 757,112 |
Outgoing resources Gains and losses Balance at 31/03/2021 £ £ £ (166,778) (7,250) 757,112 (166,778) (7,250) 757,112 Investments Net current assets / (liabilities) Net Assets £ £ £ 121 733,596 733,717 121 733,596 733,717 Investments Net current assets / (liabilities) Net Assets £ £ £ 121 756,991 757,112 121 756,991 757,112 |
Balance at 31/03/2021 £ 757,112 |
|---|---|---|---|---|---|
| 757,112 | |||||
| 121 733,596 733,717 |
|||||
| Investments Net current assets / (liabilities) Net Assets £ £ £ 121 756,991 757,112 |
|||||
| 121 756,991 757,112 |
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Bulanstar Limited Detailed Statement of Financial Activities
For the year ended 31 March 2022
| INCOME AND ENDOWMENT Donations and legacies Donations Investments Income from listed investments Total incoming resources EXPENDITURE Charitable activities Cost of direct charitable activity SUPPORT COSTS Governance costs Governance costs Total resources expended NET INCOME BEFORE GAINS AND LOSSES Other recognised gains and losses Gains/(loss) on disposal of commercial investments Net income before gains and losses Net Expenditure |
£ 2022 37,000 37,000 14,000 14,000 51,000 (73,200) (73,200) (1,195) (1,195) (74,395) - - - (23,395) |
£ 2021 40,000 |
|---|---|---|
| 40,000 1,875 |
||
| 1,875 | ||
| 41,875 (165,400) |
||
| (165,400) (1,378) |
||
| (1,378) | ||
| (166,778) (7,250) |
||
| (7,250) | ||
| (7,250) | ||
| (132,153) |
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This page does not form part of the statutory financial statements