REGISTERED COMPANY NUMBER: 01359053 (England and Wales) REGISTERED CHARITY NUMBER: 275657
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
FOR
STARSCOPE LIMITED
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
STARSCOPE LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 13 |
STARSCOPE LIMITED (REGISTERED NUMBER: 01359053)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
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 31st March 2024. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's objects are specifically restricted to the following:
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The advancement of religion in accordance with the Orthodox Jewish Faith.
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Support of Jewish religious institutions of learning and synagogues, including schools and colleges.
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3.The relief of poverty and
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4.Other purposes as are recognised by English Law as charitable and in furtherance of the aforementioned objects.
Significant activities
The Charity has continued to make significant grants throughout the year, in accordance with its grant making policy.
Public benefit
The trustees continue to operate within the confines of the charity objectives namely the relief of poverty by providing grants in respect of the advancement of jewish education. The trustees provide grants to a variety of establishments. The trustees have also identified institutions which as a result of the economic downturn are experiencing a reduction in their fee income and have provided assistance to them in this respect as well.
Where the trustees make grants to institutions, they stipulate how these monies should be spent and constantly monitor the effectiveness of the allocation of the resources extended through the grant funding.
The trustees are of the opinion that this latter method of funding combines both objectives of the charity such that through the grants to the institution, students who are partly able or unable to pay their fees, are also assisted.
FINANCIAL REVIEW
Financial position
The Statement of Financial Activities shows a deficit for the year of £99,515 (2023:deficit £1,993) and total funds carried forward of £500,640 (2023: £600,155) which include an unrealised revaluation gain of £370,000. There were no restricted funds as at the year end.
Principal funding sources
The Charity continues to be dependant on voluntary donations and income from investment property.
Reserves policy
The charity's reserves policy is to maintain sufficient reserves to enable the charity to continue its activities and services at a meaningful level, should there be a drop in income. The trustees review this position on a regular basis.
In view of this the trustees aim to maintain a level of reserves sufficient to meet three months basic operating costs.
The Cash balances of £158,008( 2023: £192,367) as at the balance sheet date ensure that the charity is well able to maintain its operating capacity.
FUTURE PLANS
The Trustees are actively looking to make grants to UK Charities that satisfy the charity's objects and strict ethical criteria .
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STARSCOPE LIMITED (REGISTERED NUMBER: 01359053)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited company , limited by guarantee, as defined by the Companies Act 2006.
The Charity is registered with the Charity Commission.
The Charity is organised so that the Directors and Trustees meet regularly to manage its affairs.
Recruitment and appointment of new trustees
All Directors of the company are also Trustees of the Charity, and there are no other Trustees. All of the Trustees named above served throughout the year. The Board has the power to appoint additional trustees as it considers fit to do so.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01359053 (England and Wales)
Registered Charity number
275657
Registered office
1007 Finchley Road London NW11 7HB
Trustees
M Maslo Director Of Companies Mrs F Maslo Secretary (deceased 19.11.2024) A Maslo Retired Accountant
Company Secretary
M Maslo
Independent Examiner
Akiva Kahan FCA Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
DECLARATION OF PUBLIC BENEFIT
The Trustees have considered the Charity Commission's general guidance on public benefit in deciding what activities the charity should undertake.
The 'Objectives and Activities' section explains the charity's activities which are open to anyone of the Jewish faith and in promoting advancement of adherence to the Orthodox Jewish Faith the doctrines and codes of the Jewish religion, encourage its followers to conduct themselves in a socially responsible way in the wider community.
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STARSCOPE LIMITED (REGISTERED NUMBER: 01359053)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
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 28th January 2025 and signed on its behalf by:
M Maslo - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STARSCOPE LIMITED
Independent examiner's report to the trustees of Starscope Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2024.
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 2. 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.
Akiva Kahan FCA The Institute of Chartered Accountants in England and Wales
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE Date: January 2025
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STARSCOPE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Charitable activities 4 Advancement and promotion of Jewish education and relief of poverty Net gains on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 3,000 54,160 57,160 156,675 - (99,515) 600,155 500,640 |
Restricted fund £ - - - - - - - - |
2024 Total funds £ 3,000 54,160 57,160 156,675 - (99,515) 600,155 500,640 |
2023 Total funds £ - 45,569 |
|---|---|---|---|---|
| 45,569 | ||||
| 47,562 | ||||
| 370,000 | ||||
| 368,007 232,148 |
||||
| 600,155 |
The notes form part of these financial statements
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STARSCOPE LIMITED (REGISTERED NUMBER: 01359053)
BALANCE SHEET 31ST MARCH 2024
| Notes FIXED ASSETS Investment property 9 CURRENT ASSETS Debtors 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds TOTAL FUNDS |
Unrestricted fund £ 400,000 13,614 158,946 172,560 (71,920) 100,640 500,640 500,640 |
Restricted fund £ - - - - - - - - |
2024 Total funds £ 400,000 13,614 158,946 172,560 (71,920) 100,640 500,640 500,640 500,640 500,640 |
2023 Total funds £ 400,000 8,749 192,367 201,116 (961) 200,155 600,155 600,155 600,155 600,155 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.
The notes form part of these financial statements
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STARSCOPE LIMITED (REGISTERED NUMBER: 01359053)
BALANCE SHEET - continued 31ST MARCH 2024
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 28th January 2025 and were signed on its behalf by:
M Maslo - Trustee
The notes form part of these financial statements
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STARSCOPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
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, as modified by the revaluation of certain assets.
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.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Financial instruments
The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
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STARSCOPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
1. ACCOUNTING POLICIES - continued
Financial instruments
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
2. DONATIONS AND LEGACIES
| 2. | DONATIONS AND LEGACIES | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Donations | 3,000 | - | ||
| 3. | INVESTMENT INCOME | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Rents received | 53,223 | 40,647 | ||
| Deposit account interest | 937 | 4,922 | ||
| 54,160 | 45,569 | |||
| 4. | CHARITABLE ACTIVITIES COSTS | |||
| Grant | Support | |||
| funding of | costs (see | |||
| activities | note 5) | Totals | ||
| £ | £ | £ | ||
| Advancement and promotion of Jewish | ||||
| education and relief of poverty | 23,048 | 133,627 | 156,675 |
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STARSCOPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
5. SUPPORT COSTS
| SUPPORT COSTS | ||||
|---|---|---|---|---|
| Governance | ||||
| Management | Finance | costs | Totals | |
| £ | £ | £ | £ | |
| Advancement and promotion of Jewish | ||||
| education and relief of poverty | 132,647 | 20 | 960 | 133,627 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023.
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
8.
| No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Investment income 45,569 EXPENDITURE ON Charitable activities Advancement and promotion of Jewish education and relief of poverty 47,562 Net gains on investments 370,000 NET INCOME 368,007 RECONCILIATION OF FUNDS Total funds brought forward 232,148 TOTAL FUNDS CARRIED FORWARD 600,155 |
2024 Restricted fund £ - - - - - - |
2023 Total funds £ 45,569 |
|---|---|---|
| 47,562 | ||
| 370,000 | ||
| 368,007 232,148 |
||
| 600,155 |
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STARSCOPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
9. INVESTMENT PROPERTY
| FAIR VALUE At 1st April 2023 and 31st March 2024 NET BOOK VALUE At 31st March 2024 At 31st March 2023 Fair value at 31st March 2024 is represented by: Valuation in 2024 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Short Term Loan Accrued expenses 12. MOVEMENT IN FUNDS At 1/4/23 £ Unrestricted funds General fund 600,155 TOTAL FUNDS 600,155 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 57,160 TOTAL FUNDS 57,160 |
£ 400,000 400,000 400,000 £ 400,000 2024 2023 £ £ 13,614 8,749 2024 2023 £ £ - 1 70,000 - 1,920 960 71,920 961 Net movement At in funds 31/3/24 £ £ (99,515) 500,640 (99,515) 500,640 Resources Movement expended in funds £ £ (156,675) (99,515) (156,675) (99,515) |
|---|---|
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STARSCOPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/4/22 £ Unrestricted funds General fund 232,148 TOTAL FUNDS 232,148 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 45,569 (47,562) TOTAL FUNDS 45,569 (47,562) |
Net movement At in funds 31/3/23 £ £ 368,007 600,155 368,007 600,155 Gains and Movement losses in funds £ £ 370,000 368,007 370,000 368,007 |
At 31/3/23 £ 600,155 |
|---|---|---|
| 600,155 | ||
| 368,007 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/4/22 £ 232,148 232,148 |
Net movement in funds £ 268,492 268,492 |
At 31/3/24 £ 500,640 |
|---|---|---|---|
| 500,640 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 102,729 102,729 |
Resources expended £ (204,237) (204,237) |
Gains and Movement losses in funds £ £ 370,000 268,492 370,000 268,492 |
Gains and Movement losses in funds £ £ 370,000 268,492 370,000 268,492 |
|---|---|---|---|---|
| 268,492 |
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STARSCOPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
13. RELATED PARTY DISCLOSURES
Mr A Maslo, a Trustee made charitable donations totalling £3,000 to Starscope Ltd during the year.
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