ENTINDALE LIMITED LIMITED BY GUARANTEE Company No: 1392462 Charity No.: 277052 CONSOLIDATED FINANCIAL STATEMENTS for the year ended 30 June 2024 COHEN ARNOLD CHARTERED ACCOUNTANrs REGISTERED AUDITORS LONDON NWI I OPU
ENfJiyDALE LIMITED IiiirrED BY GUARATrrfEE FOR THE YEAR ENDED 30 JUNE 2024 INDEX TO THE FIPIANCIAL STATEMENTS Page Reference and Administrative Infonnation Trustees. ReFM)rt 6-10 Auditors, Report Consolidated Stst¢m¢nt of Financial Activities 12- 13 Consolidated Balance Sheet 12-13 Company Balall She¢t 14 Consolidate41 Ststement of C&sh Flows 15-29 Notes to the Financial Statem¢nts
ENTINDALE LIMITED IMITED BY GUARATrrrEE REFERENCE AIYD ADMINISTILaTIVE DET.AILS FOR THE YEAR ENDED 30 JUNE 2024 Name: Entindale Limited Statlls: Incorporated: 4 October1978 Company Number.. 1392462 Registered Charity Numb¢r: 277052 Principal oifice: 64 Ballards Lane IA)ndon N3 2BU Registered Addres8'. 64 Ballards Lane London N3 2BU Chartty Trnstees: Mr J P¢arlman Mr A C Be¢ker Mrs B L Peter5 Mr D Toledano Seeretary: Mrs B L P¢t¢rs Auditors: Cohen Arnold New Burlington House 1075 Finchley Road London NWI I OPU
EwfINDALE LIMITED LIMITED BY GUARANTEE REPORT OF THE TRUSTEES CORPORATING THE DIRECTORS, REPORT FOR THE YEAR ENDED 30 JUNE 2024 The Trustees. who ar¢ also the directors forthe purpos¢s of Company Law, presenttheir Reporttogether with the consolidated Financi81 Statements of the Charity and its Subsidiary for the year ending 30 June 2024. The Financi&l StAtements comply with the Charities Act 2011. the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appIlble in the UK and Republic of Jreland (FRS102) (effective l January 2015). REFERENCE AND ADMtNISTRATIVE INFORMATION Ref¢r¢nce and Administrative Infornlation of the charity is shown on Page l of the Financial Statements and forms part of this report. ORGANISATION STRucfuRE, GOVERIYANCE AND MANAGEMENT The charity is constituted as a company limited by guarantee and a registered charity governed by its Memorandum and Articles of Association. The day-to-day affairs of the company are administered by the trustees whose ¢hairnian is Mr A C Becker. It is not currently the intention of the trn$tS of the charity to appoint new trustees. Should the situation change in th¢ future. the trustees will apply suitabl¢ r¢Gruitment training and induction procedures. Group Sirudure andReloi41nships The charity has a wholly owned subsidiary. R(Mlsham Properties Limited, a property inv¢stment ompany which gifts its pmfits to the charity. Risk Management The Trustees hav¢ ass¢ssed the major risks to which the charity is exposed, in particular those relatsd to the operations and finance of the charity, and are satisfied that systems are in pla¢¢ to mitigate its exposure to thos¢ risks. 0ECTIVEs AND ACTIVITIES The object of the ch8rity 15 to advance religion in accordance wilh the orthodox Jewish faith. To achieve its objective th¢ oharity makes grants to charitable institutions with similar objectives. The trustees conflrni that they have referred to the guidan¢¢ contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aim and objectives and in planning firture activities.
EINDALE LI[r[ED LIMITED BY GUARANTEE REPORT OF THE TRUSTEES INCORPOIL4TtNG THE DIRECTORS, REPOR FOR THE YEAR ENDED 30 JUNE 2024 ACHIEVEMENTS AIYD PERFORMANCE During the year the charity distributed £1,825.181 (2023.. £2,156,201) in furtherance of its obj¢ctives and the knistees plan to continue making similar charitable distributions in the forthcoming years. FINANCL4L REVIEW FinancialPosilion The financial results of the charity and its Subsidiaryundertaking forthe year ended 30 June 2024 are fulty reflected in the attached Financial Statements togeth¢r wtth the Notes thereon. Reserves Policy It is the policy of th¢ ¢harity to maintsin unrestricted funds which are the free reserves of the charity, at level which provides sufficient resources to cov¢r management and administration and direct charitable expenditure. As at 30 June 2024, the Chwity had £E6,092,296 of unrestri¢t¢d fid5. Invuimentpolicy andobjeetives Under the Memorandwn and Articles of Association, the chlty has the power to make any investtnent which the trustees See fit. Th¢ clwity's investment policy is to maximise the income and gains so that its charitable objectives be maiDt&ined and expanded. PLANS FOR FUTURE PERIODS The oharity plans to continue the activities outlined above in the forth¢oming years subject to sufficient income. FIXED ASSETS The movements in Fixed Ass¢ts ar¢ fully reflected in Not¢ 14 to the Financial Statements. INVESTMENTS The charity's investmeTht in its subsidiary undertaking are included in the Financial Statements at valuation, based on the market value of its underlying assets less liabilities. The valuation of properti¢s and other assets in the Subsidiary bos been made by the trustees of this charity. TRUSTEES? RESPONSIBILITIES STATEMENr The trustees (who are also the directors for the purposes of Company LAW) are responsible forpreparing the Trustees. Annual Report and Financial Statsments in accordance with applicable law and Unit¢d Kingdom Accounting Standards (United Kingdom Genernlly Accepted Accounting Practice).
ENfINDALE LIMITED iIMITED BY GUAIUTrITEE REPORT OF THE TRusfEES tNCORPORATING THE DIRECTORS, REPORT FOR THE YEAR ENDED 30 JUNE 2024 TRUSTEES, RESPONSIBILITIES STATEMENT {ContinuedJ Company law requires the trustees to prepare Financial Statements for eaeh financial year which give a true and fair view of the state of affairs of the Charitable coJnpatLy and th¢ group and of the incoming r¢sources and application of resources. including the income and expenditure of the group for shat period. In pr¢paring these Financial Statsments, the Trustees are required to: s¢lect Suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP" make judgements and accounting estimatss tILat are reasonable and pruden( and prepare the FiDaneial Stat¢ments on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees ar¢ responsible for keeping adequate accounting re¢ords that are sufficient to show and explain th¢ charity's and the group's transactions and disclos¢ with reasonable accuracy at any time the financial position of the charity and the group and enable them to ensure that the Financial Statements comply with the Companies Act 2006. They are also responsible for safeguarding th¢ assets of the charity and the group and hence for taking re&sonable steps for the prevention and detection of fraud and other irregularilies. AUDrroR Cohen Arnold are deemed to be re-appointed under Section 487(2) of th¢ Companies Act 2006. Each of the persons who is a lrnstee at th¢ date of approval of this r¢port confllm5 that: so far as each trustee is aware, there is no relevatrt audit inforn)ation. being infomiation needed by the auditor in connection with preparing their report, of which the group's auditor is unawar¢. and ¢ach trustee, has tsken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit infornation and to establish that the group's auditor is aware of that infonnation.
ENnNDklLE LThIITED IP+lJTFD BY C.UARANTEE RF.PORT OF TFtF. TRUSTEES INCORPOILITINC. THE DIRF.CTORS' REPOR FOR THE YEAR FNDED 30 NE 2024 SMALL COMPANY PROVISIONS This reprt h&s been prepared in accordance with the provisions applicable to ¢ompanie8 entided to the small companie5 exemption. By Order of the Thte Mr A C Beeker 17 December 21124
ENTINDA[ LIM]TED COMPANY LIMrrED BY GUARANTEE JI4DEPENDENT AUDITOR'S REPORT TO THE MEMBER OF ENTINDALE LIMITED YEAR ENDED 30 JUFIE 2024 Opinion We have audited the financial statements of Entindale Limited (the 'charAtyJ for the year ended 30 June 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated aDd Parent Charity Balance Sheets. the Group Cash Flow Statements and the related notes, including a summary of significant accounting policies. The financial reporting fratnework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion th¢ financial statements: give a true and fair view of the state of the group's and the charity's affairs as at 30 June 2024 and of the group's incoming resources and application of resources, including its income and expenditure, for the year then ended. have been properly prepared in accordance wilh United Kingdom Generally Accepted Accounting Practice. have been prepared in accordance with the requirements of the Cotnpanies Act 2006 and Charities Act 2011. Basis for opinion W¢ conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further d¢scribed in the auditor's responsibilities for th¢ audit of the financial statements section of ow report. We arc independent of the group in accordance with the ethical requirements that are relevant to our audit of the fmancial statements in the UK, including the FRC'S Ethic Standard, and we have lfilLed out other ethical responsibilities in accordance with these requiiements. We believe that the audit evidence we have obtained is sufficient and appmpriate to provide a b&8iS for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the trustees, usc of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perforn]ed, we have not identified any material uncertaintie5 relating to events or conditions that. individually or GoLle¢tively. may cast significant doubt on the group or the charity'5 ability to continue as a going concern for a period of at least twelve months from when the financiaj statements are authoTised for issue. Our Tesponsibilities and the responsibilities of the tntstees with respect to going concern are described in the relevant sections of tbis report.
ENTINDALE LIMrrED COMPANY LIMITED BY GUARANTEE INDEPEI NDENT AUDrfoR'S REPORT TO THE I1MBER OF ENTINDALE LIMITED CONTINUED YEAR ENDED 30 JtJNE 2024 Other inforniation The other infonnation comprises the infonnation included in the annual reporL other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infonnation. Our opinion on the fU1¢IaL ststements does not ¢ov¢r the other inforniation and, except to thc extent otherwise explicitly stated in our report, we do not express ally fomi of surance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other inf0mtion an(L in doing so, consider whether the other infonnation is materially inconsistent with the financial statements or our knowledge obt8ined in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we arc required to deterniine wheth¢r there is a material misstatement in the financial statements or a material misstatement of the other infom]ation. If. based on the work we have perforn]ed, we conclude that there is a material misstatement of this other inforniatio we are required to report that fact. We have nothing to report in this regard. Opinions on other matters pre$eribed by the CompaDi¢S Act 2006 In our Opinio based on the work undertaken in Ihe course of the audit: the infomiation given in the truste¢s' report for the financial year for wlllch the financial statements are prepared is consistent with the financial statement5. and the trustees, report has been PTepared in accordance with applicable legal requirements. Matters on whieh we are required to report by exception In the light of the knowledge and understanding of the group and the charity and its environment obtained in the course of the audiL we have not identified material Jnisstatements inthe trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 r¢quires us to report to you if. in our opinion: adequate accounting records have not been k¢pt, or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns" or certain disclosures of trustees, r¢muneration specified by law are not made. or we have not received all the inforniation and explanations we require for our audit. or
ENTJNDALE LJMITED COlPANy LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF ENTif4DALE LIMITED CONTINUED YEAR ENDED 30 JUIYE 2024 the tnjstees weTe not entitled to prepare the fjnancial statements in acrdanCe with the small companies regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the tNstees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the pr¢paration of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees detern]ine is ne¢¢ssary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. tnpreparing the financial statements, th¢ trustees are responsible for assessing the chaTity's and group's ability to continue as a golng 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 charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statsments as a whole are free from material misstatement, whether due to fraud or error. and t() issue an auditoi's report that includes our opinion. Reasonable assurance is a high l¢vel of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misslat¢ment when it exists. Misstatements can arise from fraud or em)r and are considered material if, individually or in the awegate, they could reasonably be expected to influence the ewnomic decisions of users taken on the basis of these financial ststements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to dete¢1 material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detsiled below: We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity through discussion with th¢ trustees and identified which were most significant with respect to the financial statements. We identified financial reporting legislation (including related companies legislation) and anti-bTibery legislation as being most significant to these financial statements. We communicated these identified frameworks amongst our audit team and remain¢d alert to any indications of non- compliance throughout the audit. We ensured that the engagement team had sufficienl competence and pabIlIty to identify or recognise non-compliance with laws and regulations.
ENTINDALE LIMITED COMPANY LIMITEIJ BY GUARAPaEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBER CONTINUED F EI NTINDALE LIMITED YEAR ENDED 30 JUNE 2024 We discussed with the tneS the policies and procedures regarding compliance with these legal and regulatory framewoTks. We assessed the susceptibility of the group's financial statements to material misstatement due to non-compliance with legal and regulatory frameworks, including how fraud rnight occur, by enquiry with the trnstees during the planning and finalisation phases of our audit. The susceptibility to such material misstatement was detern]ined to be low. Based on this understanding we d¢signed our audit procedures to identify non-compliance with the identified legal and regulatory frameworks, which w¢r¢ part of our procedures on the related fllwicial stalement items. Our procedures included reviewing the group's internal controls policies and procedures. COespondenCe with regulatory bodies including Charity Commission and HMRC, testing transactions outside the norn1 course of the business and journal entries, and discussions with the trustees. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though w¢ have properly planned and perfornied our audit in accordan¢¢ with auditing standards. For example, the furth¢r removed non-compliance with laws and regulations (iLTegularities) is from the events and transactions reflected in the financial statements. Ihe less likely the inherently limited procedures required by auditing standards would idenlify il. In addition, a5 with any audil there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentalions, or the override of internal controls. We are not Tesponsible for preventing non-compliance and cannot be expected to detect non- mpliance with all laws and regulations. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and nltaIn professional scepticism throughout the audil. We also: Identify and assess the risks of material misstatement of the financial statements. whether due to fraud or erroT, design and pertorni audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement r¢sulting from fraud is higher than for one resulting from error. as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or tbe override of interna] control. Obtain an understanding of inten1 control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
ENTINDALE LIMITED COMPANY LIMJTED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBEROF ENTINDALE LIMITED CONTINUED YEAR ENDED 30 JUNE 2024 Evaluate the appropriateness of accounting policies used and th¢ reasonableness of accounting estimates aThd related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evid¢nce obtained. whether a material uncertainty exists related to events or conditions that may Cast significant doubt on the charity's or group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the fmancial statement5 or, if such disclosures are inadequate. to modify our opinion. Our conclusions are based on the audit evidence obtained up to th¢ date of our auditor's report. However, tUre events or conditions may cause the charity or group to cease to continue as a going ¢onc¢rn. Evaluate the overall presentatio structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and ¢vents in a manner that achieves fair presentation. Obtain suffIcient appropriate audit evidence regarding the finaTh¢ial infonnation of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and perforfflan¢e of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged wilh governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal Control that we identify during our audit. Us¢ of our report This report is made solely to the charity's member, as a Ix)dy, in accordance with Chapt¢r 3 of Part Part 16 of the Companies Act 2(106. Our audit work has been undertaken so that we might state to the charity's member those matters we are required to state to them in an audiiovs report and for no other purpose. To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than the charity and the Charity's member as a body, for our audit worL for this report. or foT the opinions we have fomLed. JOSHUA NEUMANN FCA (Senior Ststutory Auditor) For and on behalf of COHEN ARNOLD Chartered Accountants & Statutory Auditor New Burlington House 1075 Fiiichley Road London NWII OPU 17 December 2024 Cohen Arnold is eligible lo aci as an Audilor in terpns ofseclion J2J2 of ihe Companies Aci 2006. 10
E]YTINDALE LIMITED AND SUBSIDIARY UNDERTAKING CONSOLIDATED STATEMENT OF FJNANCIAL ACTIVITIES INCORPORATING THE IIYCOTrIE & EXPENDuRE ACCOUN[ FOR THE YEAR ENDED 30 JUNE 2024 2024 Total 2023 Total Notes INCOME AND ENDOWMENTS Donations and Legacies Inv¢s1ment Income 391.000 1556219 322,405 1,392,770 TOTAL INCOM 1947219 1,715,175 XPENDITURE Expenditure on Raising Funds: Investment Management Costs ExpenditUTe on Charitable Activities {460236) (385,312) (1046243) (2,173,613) 718 TOTAL EXPENDTfuRE {2?06,479) (2,558,925) Net valuation gatn on investhient property (30,000) Net gainl(loss) on disposal of investsnent assets (9,716) 543.768 NET JNCOME BEFORE TAXATION (36&976) (329.982) Taxation 62,000 (15,000) NET UqCOMT AIYD NET mOvEIENr OF FUNDS 1306976) (344,982) RECONCILIATION OF FUNDS Unr¢5tricted funds Brought Forward 16J99272 lQ744,254 TOTAL FUNDS CARRIED FORWARD 16Jb92296 £16,399,272 The Statement of financial activities includes all gains and losses in the ye8r. All of the above amounts relate to continuing activities. The notes on pag¢s 15 to 29 forni part of these Financial Statements. IA
ENTINDALE LIMITED AND SUBSIDIARY UNDERTAKtNG CONSOLtDATED BALANCE SHEET AND CHARITY BALANCE SHEET AS AT 30 JUNF. 2024 Group Charity 2024 2023 2024 2023 Y4oles FIXED ASSETS Investment proiKMi¢s Investsnent in subsidiary 14 14 14,831,013 15,147,768 14WI,013 14.897,768 248,673 432,487 I431,013 15,147,768 15,079,686 15,330.255 CURREiYf ASSETS Debtors Investtnents Cash at Bank and in hand 15 Is 189fj37 35,000 1362.140 228,018 30,000 1,364,735 189,637 35,000 lJ59?94 228,018 30,000 1,363,175 IA86.777 1,622,753 1584A131 1,621,193 LIABILTfiES Creditots fallin8 due within one 16 (328494) (309249) (571.421) (552,176) NET CURRENT ASSETS 1261283 1,313,504 1,012,610 1.069.017 TOTAL ASSETS LESS 16092296 16.461.272 16JI92396 16J99272 PROVISIONS FOR LIBILriEs & CHARGES 17 (62,(K)O) NET ASSETS 16.092296 £16,399,272 16,092,296 £16.399.272 18. 19 16,092296 £16J99272 16,092296 £16,399,272 The immediately following pag¢ fornis an integrnl part of this Consolidated and charity Balance Sheet 12-
ENTINDALE LI[[rED Af4D SUBSIDIARY UNDERTAKING COL¥ISOLIDATED BALANCE SHEET AND CHAIUTY BALANCE SHEET ASAT3 UNF. 2024 The The¢S have preped group accounts in [X)[danCe with Secti 398 of the Ci)mptinies Act 2006 and section 138 of the cIltIeS A¢t 2011. These Accounts arc prcpared in accordance with the special provisions of Part 15 of the Compallies Actrelating to small ¢omwlles and cOnstite the annual accounis required by the Companies Act 2tTh and arc foT circu]arion 10 members of the CoMp¥y. The FinancAal Statrmcnts were Approved by the lrnstees on 17 December2024 and Sied on its half by: Mr A C Becker Company No: 1392462 The notes on pages IS 10 29 fonn wt of these Fina¢10] Stst¢ments.
ENTINDALE LIMITED AIW SUBSIDIARY UNDERTAKtNG CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Nol£s Cash flows from operatinE thctivities: Net cash used in operating activities 20 (1,529,641) (1.952,305) Cash flows from inv4stiDg activities: Net c&sh provided by investing activities 1.508,158 1,863.859 Cash Ilows from fill*llcing a¢tivities: Net cash provided by financing activities 18,888 (70.000) ChaDge tash and cash equivalents in the year (2.595) (158,446) Cash and cash equivalents at the beginnin8 of the year 1,364,735 1.523,181 Cash and ¢h equivalents at the end of the year 20 1,362,140 £1,364,735 The notes on pages 15 kn 29 forni part of these Financial Statements. 14-
ENTINDALE LIMITED NOTES TO THE FINANCIAL STA TF,mErS FOR THE YEAR EDED 30 JUNE 2024 GENERAL INFORMATION Entindale Limited is a priva1¢ comparAy limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 64 Baliards Lane, London, N3 2BU. STATEMENf OF COMPLL4Y4CE These financial statements have been prepared in compliaThce with FRS 102, 'The FiThancial R¢porting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)). the Charities Act 201 l and the Companies Act 2006. ACCOUNTJNG POLICIES BASIS OF PREPARATION The financial statements have been prepared on the historical cost basis, as modified by the revaluation of ¢¢rt2in financial asseÉ4 and investment properties measured at fair value through income or expenditure. The financial statements are prepared in Sterling whi¢h is th¢ fi]nctional currency of the group. The charity meets the definition of a public benefit entity under FRS 102. GOING CONCERN At the time of approving the financial statements, the trustees hav¢ a reasonable expe¢tstion that the charity has adequate resourc¢s to continue in operational existence for the foreseeable future. Thu5. the trustees continueto adoptthe going concern basis of accounting Tn preparing the financial statsments. 3J JUDGEMEIYTS AND KEY SOURCES OF ESTIMATATIOY4 UNCERTAUITY In the application of the group's accounting polici¢s, the trnstees are required to make judgements. ¢stimates and assumptions about the carying amounts of asKts and liabilities that are not readily pparent from other sources. The estimates and associated assumptions are based on historical experienc¢ and other factors that are wnsidered 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 perii)d in which the estimate is revised if the revision affwls only that period, or in the perlod of the revision and future periods if the revision affects both cent and future periods. 15-
ENTINDALE LIMITED NOTKS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES (Conlinued) Judgements made by the trnstees. in the application of these accountillg policies that have signifi¢ant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are discussed below. . Property valuations The group's property portfolio is valued by the trustees. The valuation of the group's properties is inherently subjective. depending on many factors, including the individual natur¢ of each property, its loc&tion and expected fure net rental values, market yields and comparable market transactions. Therefore the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to b¢ accurate. particularly in periods of difficult market or economic conditions. ii. Trdde debtors Management uses details of the age of trade debtors and the status of any disput¢s together with ¢xt¢rnal evidence of the credit slatus of th¢ ¢ounterpaty in making judg¢m¢nts concerning any need to impair the canying values. GROiJP FINANCIAL STATEMENTS The financial statement5 consolidate the resuhs of the charity and its wholly-owned subsidiaryg Rodsham Properties Limited, whose financi statements are made up to the same a¢counting dat4 on a line-by-line basis. A separate Statement of Financial Activities, and inwme and ¢xpenditure account d¢aling with the results of the charity onty, has not been presented because the charity has taken advantage of the exemption afforded by Sextion 408 of the Companies Act 2006. Of the net movement in funds of the group, a deficit of £306,976 (2023: deficit of £344.982) has been dealt with in the Statement of FinaD¢ial Activities of th¢ charity itself. INCOMtNG RESOURCES RecognitioD of Incoming Resourc¢s Income is derived on a receivable basis from property sales and renta]. donations and irnterest on short- terni deposits. The value of donated services is only included where the benefit to the charity is reasonably quantifiable and measurable. These resources are included in the Strtsmt of Financial Activities (SOFA) when all of the folloThqng criteria are met.. the charity or its subsidiaries have entitlement to th¢ funds. the receipt of the incotne is consid¢red probable" and the monetary value can be mvasured with sulyicient reliability. 16-
EiYfiNDALE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR Ef4DED 30 JUNE 2024 ACCOUNtING POLICIES (Condnued) Ineoming Re8ource8 with Related Expenditure Where incoffting resources have related &NKndithr¢ (as with fitndraising Contract or inveslment income) the incoming r¢sourc¢s and related expenditure are reported gross itL the SOFA. Resourees expended All expenditure is accounted for on an accruals b&sis and allocated directly to the appropriate activity cost. IVerable VAT is in¢luded in the expendlture to which it relates. GTants to instithtions represent paymeTts to other charities il) furtherance of the charity's obj¢ctiv¢s. IDvestmellt Income This is in¢luded in the Accounts when receivable. 3.6 CHARITABLE ACTtvrriES Grants payable are only recOlsed in the accounts when paid. 3.7 INVESTMENT MANAGEMENT COSTS Investment management costs include costs relatin8 to the investment properties on an rUal basis. GOVERNANCE COSTS Governance costs includ¢ costs of the preparation and alldit of Finanoial Statements and cost of any legal advice to trustees on governance or Constitutional matsers. FUND ACCOUNTING General unrestrictd fvnds comprise the accumulated surplus or deficit on income and expenditur¢ account. They are availabl¢ for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are ndS subject to specific restricted conditions imposed by donors. There ar¢ no restricted funds as at the Balance Sheet date. Designated funds are fijnds. which have been set-aside at th¢ discretion of the trustees for specifi¢ purposes. There are no designat¢d funds as at the Balance Sheet date. 17-
EINTINDALE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES (Continued) 3.10 TANGIBLE FIXED ASSETS Freehold land and buildings ftLeld for charitabl¢ use are ststed at cost. No depreciation is provided as the assets are kept in good repair and have a very long useful life aDd the estimated residual values are not materialty different from the carrying values. An impairnient review was carried out which shows that th¢ r¢wverable atnounts are in ¢$$ of the cwing value. INVESTMENr ty SUBSIDIARY UM)ERTAKINGS Shareholdings acquired ar¢ initially recorded at C05t and subsequ¢ntly included at trustees, best ¢stimate of fair value based on the net asset value. The net assets of the Subsidiary Undertakings refl¢ct fair values of its underlying properties held for investment; any surplus or deficit on revaIuation is recognised in the SOFA and taken to Other Unrestricted Funds. 3.11 IPAIRMNT OF SIXED ASSETS review for indicators of impairnient is carried out as each balan¢¢ sheet date. with the recovernble amount being estimated where such indicators exisL WILere the ca]ng amount exceeds th¢ recoverable amounL the asset is impaired accordingly. Prior impainnents are also reviewed for possibl¢ r¢versal at each reporting date. 3.12 INVESTMEIYT PROPERTIES Investment properties 8re recognised initially at cosL Subsequent to initial r¢cognition'. i. Investtnent properties are held at fair value. Any gains or losses arising from changes in the fair value are reCOlSed in the income and expenditure account in th¢ period that they arise. and ii. No depreciation is provid¢d in respect of illvestment prop¢rties applying the fair valu¢ model. The fair value of r¢sidential units 15 based on the ttwtees, understanding of property mark¢t CODditions and the specific properties concerned usin8 a sales valuation approach, derived from recent comparable transactions on the market, adjusted by applying discounts to reflect status of occupation and condition. The fair value of commercial properties is detern)in¢d usin8 the income capitalisation method, requiring the application of an appropriate tnarket-based yield to net operating income. 3.13 ACQUISITIONS A]YD DISPOSALS OF PROPERTIES AcquisitiODS and disposals are considered to have taken plac¢ at the date of legal completion and are included in the financial statements accordingly. 18-
ENTINDALE LIMITED NOTEI S TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUY4TLNG POIICIES (Conlinued) 3.14 TAXATION The charity is ¢x¢mpt from tax on incom¢ and gains as it falls within th¢ various exemptions available to registered charities. Notwithstanding th¢ abov¢. deferred tax 15 recognis¢d in respect of all timing differences present in the non-charitable subsidiary undertaking which arise from the inclusion of income and expenses in tsx assessments in periods different from those in which they are recognised in the financial statements. DefetTed tsx is not recognised on pernianent differences arising because certain tsyes of income or expense are non-t&xable or are disallowable for tax or because certain tsx charges or allowances are greater or smaller than the corresponding incorne or expense. Deferred tax is measured at the tsx rat¢ that is expectsd to apply to the reversal of the related differenc¢. using tax rates enacted or substantively enacted at the balance sheet dale. For investment property that is measured at fair value. deferred tax is provided at the rate and allowances applicable to the sale of th¢ propety. 3.15 FtNANCtAL ll¥STRUMENTS Financial instruments are classified and accounted for. according to the substan¢¢ ofthe contractual arrangemenL as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the comparLy after deducting all of its liabilities. The group has financial assets and financial liabilities of a kiThd that qualify as basic financial irLStruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Trade and other debtors arn recognised at the settlement amount due. Prepayments ar¢ Valu at the atnount prepaid. Creditors and provisions are r¢¢ognised where the group has a present obligation resulting from a p8St event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation Can b¢ measured or estimated reli&bly. Cr¢ditors and provisions are nomially recognised at their settlement amount. Co[PANy LIMtTED BY GUARANTEE Th¢ charity is a colnpany limit¢d by guarantee and has no share capitsl. Ill the event of the charity being wound UP* the liability in respect of the guarantee is limited to £1 per member of th¢ charity. 19-
ENTINDALE LIMITED NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 30 JUNE 2024 INVESTMENT tNCOTr Total Funds 2024 Total Funds 2023 Rents and charges receivable Interest receivable 1,532,086 24,133 ,377.990 14.780 £1,556,219 £1.392,770 ESTMENT MANAGEMEiYf COSTS Total Funds 2024 Total Funds 2023 Investment property managejnent costs £460236 £385,312 EXPENDITURE ON CHARITABLE ACTIVITIIS BY FUND TYPE Total FuDds 2024 Total Funds 2023 Donations paid Support costs 1025,181 21,062 2,156,201 17.412 £1046243 £2, 173,613 -20-
ENTINDALE LIMITED NOTES TO THE FINANCIAL STATEMENts FOR THE YEAR ENDEI D 30 JUNE 2024 EXPENDITURE ON CHARrrABLE ACTIVTTIES BY ACTIVITY TYPE Grant Fundillg Activities Support Total Funds CDSts 2024 Total Funds 2023 Donations paid Governance costs lJ25,181 1025,181 21,062 2,156,201 17,412 21,062 £1325,181 21,062 1046,243 £2,173,613 All donations were paid to charitable institutions whose objects are in line with the objects of the charity which include the relief of poverty, the advancement of education and the furtherance of religion. The following material donations were made during the year ended 30 June 2024.. Yesamach Levav Shir Ch¢sed Bels Yisroel Ben Amram Charitable Trust Keren Habinyan Limited Other donations less than £70,000 in 8gate or individually 128.000 84,350 83,100 70,000 1,459,731 Total donations £1.825,181 -21-
ENfINDALE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3n..Tt_JNF. ?(124 ANALYSIS OF SUPPORT COSTS Total 2024 Totsl 2023 Governance costs Audilors Remuneration Office Administrative Expenses 17,400 3,662 17,400 12 21,062 17,412 io. NET MOVEMENT IN FUNDS This is stated after charging.. Total 2024 Total 2023 Auditor's Remuneration 17,400 17.400 Amortisation of short leasehold properties 66,755 66.755 ii. TAXATION The Charity is not liable to current tax on its inwme as it falls within the various emptIonS available to registered charities. Accordingly. th¢ Charity does not recognize any deferred lax liability on pmperty revaluation5 as it will apply all funds for qualifying charitable purposes and b¢ eligible for tax exemptions available to regist¢r¢d ¢hariti¢s. The ¢harity's subsidiary company? Rodsham Properties Limited. donates its profits to the charty and therefore there is no liability to corporation lax. The mov¢m¢nt in the income and expenditure account represents the provision for deferred tax. -22-
NTINDALE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EI¥DED 30 JUNE 2024 12. STAFF COSTS AND EMOLUMENTS No salaries or wages have been paid to employees during the year. 13. TRUSTEE REMUNERATION AND EXPENSES There was no remuneration paid to th¢ trustees. The charity did not meet any Individual expenses incurred by th¢ tru5tee5 for services provided to the charity. 14. ]NVESTMENf PROPERTIES Freebold IAbng leasehold Short leasehold Interest Total Grou Costlvaluation At l July 2023 Additions Dispos&ls 14,266,965 405,0(KI 923.448 15,595,4l3 (250,000) (250,OIXI) At 30 June 2024 14.016.965 405.000 923,448 15.345,413 AmortisatlOD At l July 2023 £447,645 £447,645 Charge for tILe year 66.755 66,755 At 30 June 2024 405,000 514,400 514,400 Net book value At 30 JuDe 2024 At 30 June 2023 The historical cost of the freehold and long leasehold properties at 30 June 2024 is £l3.923.065 (2023- £13,923.065) and £409,048 (2023.. £475,803) respectively. 23-
ENfINDALE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENI)ED 30 JUNE 2024 14. INVESTMENT PROPERTIES (conlinued) Chari Illvestment Properties Subsidigry undertalaDg Total Costfvaluation At l July 2023 Additions Di5w)sals Revaluation Net assets 15,345,413 432,487 15,777.900 (183,814) (183.814) At 30 June 2024 15,345,413 248,673 15,594,086 Amortisation At l July 2023 Charge for the year Amortisation on disw)sal 447,645 66,755 447,645 66,755 At 30 June 2024 514,400 514,400 Net book value At 30 June 2024 At 30 June 2023 The historical cost of th¢ fehOld and long leasehold properties at 30 June 2024 is £13.923.065 (2023: £13,923,065) and £409.048 (2023.. £475.803) respectively. The freehold and long leasehold prop¢rties are stated at trustees, Valuatio ossisted by RICS qualified professionals, ai 30 June 2024. The valuation is based on the trustees. understanding of property market conditions and the specific properties concerned, using a sal¢s valuation approach, derived from recent comparable knnsa¢tions on the markeL adjusted by applying discounts to reflect status of occupation 8nd condition. The lrnstees have extensive experience in the field of property investment and valuation accumulated over a considerable period of time. -24-
EiYfiNDALE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 14. INVESTMENT PROPERTIES (Continued) The inv¢stment in subsidiary at valuation is based on the underlyin8 value of assets less liabilities ofRodsh8m Properties Limited, a property investment company incorporated in Great Britain. Its registered address is 64 Ballards tAne, London N3 2BU. The aggregate amount of assets, liabilities and fimds of the subsidiary undeTtaking are as follows: 2024 2023 Investment income Propety letting Administration Net valuation loss on investment prop¢rty Loss upon disposal of investment property 9,932 3,728 (4299) (4,212) (30,000) (9,716) Net profitl(loss) for the year (4,083) (30,484) D¢fetT¢d taxation 62.000 (15,000) Net (lossyprofit Assets and liabilities Fixed Assets Current Assets Current Liabilities Provision for liabiliti¢s and charges 250.000 247,487 (3,000) 248,673 Net Assets 15. DEBTORS Grou Chari 21b24 2023 2024 2023 Other debtors and prepayments 189,637 228.018 189,637 228.018 -25-
EI¥TINDALE LIMITED NOTES TO THE FINANCtAL,STATF.MENTS FOR THE YEAR ENDED 30 JUNE 2024 Is. DEBTORS (Conlinued) CURRENf ASSET INVESTMEiYrs Gro Chari 2024 2023 2024 2023 Programme related investm¢nts 35,000 30.000 35,000 30.000 Progrdmme related investments are loans provided to charltable institutions with similar objectives to the charity. 16. CREDrroRS: AMOUNTS FALLING DUE THIN ONE YEAR Grou Chari 2024 2023 2024 2023 Amount owed to group undertakings Other creditors and accrnals 245,927 325,494 245,927 306,249 325,494 309,249 325,494 £309.249 571,421 £552.176 17. PROVISION FOR LIABtLITIES The movement in the deferred tsx provision during the year was: Group- Illvestment Property 2024 2023 Balance at l July 2023 62,000 47,000 Charge for the year 15.000 Movement in the year (62,000) Balall¢e at 30 June 2024 62,000 -26-
ENTINDALE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 17. PROVISION FOR LIABILITtES (Continued) Def¢ed tsx is recognised in respecl of timing differences arising from th¢ reVuatIon of &5S¢ts classified as investsnents in the non-charitable subsldiary undertakings. Although the provision has been recognised in aw)rdance with FRS 102, it is expected that the majority of the gains will be gifted for charitable purpos¢s and such tsx should not become payable. Deferred tax has not been recognised in resp¢¢t of revaluation of investjnents by th¢ parent charitable company on the basis that all such gains will be applied for charitable purposes. 18. Grou Funds Balance at l July 2023 16.399.272 Net deficit for the year (359.260) Profit on investments 52,284 Balance as at 30 June 2024 16,092.296 Chari Funds 16,399,272 Balance at l July 2023 (123,162) Net deficit for the year (183,814) LA)ss on investments Balance as at 30 June 2024 16.092,296 -27-
ENTINDALE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS Net Current Assets Fixed A5set8 Group Provisions Total Unrestrict¢d Income Funds 14031,013 1261283 16,092296 Net Current A$s¢ts Fixed Assets Charity Total Unrestricted Incon]e Funds 15,079,686 1,012,610 16,092296 20. NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS Reeoncili2tion of net Income to net cash flow from o eratin
ctivtties
2024 2023 Net illcome for the year (306.976) (344,982) Adjustment for: (Gain)/Loss on investment property Interest r¢¢¢ivable Net rents receivable (Increase)/Decrease in debtors Increasel(Decr¢as¢) in creditors Increasel(D¢cr¢ase) in provision for liabilities 9.716 (24,133) (1.138.605) (5.000) (2,643) (62,000) (513.768) (14,780) (1,059,433) (20,000) (14,342) 15,000 Net eash used ill operating aeilvilies (1,529,641) (1,952,305) -28-
ENTINDALE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 20. NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS (continued) 2024 2023 Cash flows from investin Interest received Rents received Proceeds from sale of investments activiti 24.133 1.243234 240,791 14,780 1,074,054 775,025 N¢t cash used in investing activities 1,508,158 1,863,859 Cash floivs from finauci activities Incr¢ase/(de¢rease) in Loan creditors 18,888 (70,000) Net cash used in fin8n¢ing activities 18,888 (70.000) Net decrease in c4sh and eash equivalents (2,595) (158.446) Cash and cash equivalents at beginning of year lJ64,735 1,523,181 Cash and e*sh equivalents at end of yeAr lJ62,140 1,364,735 21. ANALYSIS OF CHANGES IN NET DEBT At At l Jul 2023 Cash flows 30 Jun 2024 Cash at bank and in hand 1,364.735 (2,595) 1,362,140 22. RELATED PARTY TIi4NSACTJONS Charitsble donations received include donations aggregating £290,000 (2023: £164,000) from ¢ntities which have connections with this companys either through its board or through its Sh8h01ders. -29-
ENTINDALE LIMITED NOTES TO THE FINANCIAL sTATElErs FOR THE YEAR Ef4DED 30 JtNE 2024 Unrestricted Fullds INCOMING RESOURCES Donations Jnvestment income Interest receivable 632,731 1,522,236 24,051 TOTAL INCOMING RESOURCES 2,179,018 RESOURCES EXPENDED Investh)ent management charges Expenditure on charitsble activities Governance costs 460.236 1,825.181 16,763 TOTAL EXPENDITURE 2,302,180 Profit on disposal of investment property Net valuation gain on inv¢sttn¢nt propety Gainl(tA)ss) on investment in group undertakings {183,814) Net Expenditure alld Net Movement in Funds (306,976) Total Funds Brought Fonvard 16.399,272 Total Funds Carried Forward 16.092.296 None of the charity's activities was iniliated or dtscontinued during the financial year nor in the previous year. The charity has no other recognised gains or losses other than those refl¢ctsd in the above Stat¢m¢nt of Finan¢ial Activities for the finan¢ial year or for the previous year. -30-