OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-accounts

01438829 (ENGLAND & WALES)

CHARITY REGISTERED NUMBER: 279382

EVELAND LIMITED

(A COMPANY LIMITED BY GUARANTEE)

UN-AUDITED

DIRECTOR'S AND TRUSTEE'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

LEONARD FINN & CO. SERVICES LIMITED CHARTERED ACCOUNTANTS BRENTMEAD HOUSE BRITANNIA ROAD LONDON N12 9RU

EVELAND LIMITED

(A COMPANY LIMITED BY GUARANTEE)

FOR THE YEAR ENDED 31ST MARCH 2024

CONTENTS

Page
Legal and administrative information 1
Directors' and Trustees' report 2
Independent Examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes 9

EVELAND LIMITED

(A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Company Number: 01438829 (England&Wales)
RegisteredCharityNumber: 279382
Director: Mrs Goldi Jacobwitz
Trustees: Mrs Goldi Jacobwitz
Mr Moshe Grosz
Mr Yechiel Steinmetz
Registered Office: BrentmeadHouse
BritanniaRoad
London
N129RU
Accountants: Leonard Finn&Co.ServicesLimited
Chartered Accountants
BrentmeadHouse
Britannia Road
London
N12 9RU
Bankers: BarclaysBankPlc
MarbleArch Branch
127-131Edgware Road
London
W22HT

Page 1

EVELAND LIMITED

(A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' AND TRUSTEES' REPORT

FOR THE YEAR ENDED 31ST MARCH 2024

The trustee, who is also the director of the charity for the purposes of the Companies Act, presents his annual report with the financial statements of the Charity for the year ended 31st March 2024. The trustee has adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity.

Structure, Governance and Management

Trustee and Organisational Structure: The charity is constituted as a company limited by guarantee and is therefore governed by a Memorandum and Article of Association. The Director of the company is also trustee of the charity and there are no other trustees. All of the trustees named above served throughout the year. The board has power to appoint additional trustees as and when he considers fit to do so.

Appointment of trustees

The trustee is responsible for the administration and investment policy of the Scheme. Trustees are appointed and removed by the sponsoring employer. The sole trustee is: -

Mrs. Goldi Jacobowitz

Secretary

Mrs. Goldi Jacobowitz

Objectives and activities

The charity's object and principal activities of the company, in the year under review, were that of a charitable organisation, whose purpose is to advance religion in accordance with the orthodox Jewish faith.

The charity is organised so that the director and trustee meet regularly to manage its affairs and deal with day-to-day administration.

Achievements and performance

During the year, the charity continued to receive rents from its investment properties and received donations and dividends from subsidiaries and associated companies. During the year, the charity made various charitable contributions totalling £274,730 (2023 - £262,610)

The statement of financial activities is provided on page 6. The Trustee reports that a deficit of £234,255 (2023 - £67,524 deficit) was incurred.

The total incoming resources were £341,757 (2023 - £268,321) and t he total resources expended were £576,158 (2023 - £335,894).

The Trustee believes that the Investment in assets is sufficient to support the needs of the charity.

Page 2

EVELAND LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' AND TRUSTEES' REPORT

FOR THE YEAR ENDED 31ST MARCH 2024

Financial review

Investment policy

The Trustee's investment policy is to protect the real value of the charity's funds and to provide an increasing income to support the charity's activities. The investments are held in a broad mix of freehold and leasehold properties, which provide rental income and investment in subsidiaries, which in turn also invest in rental properties.

Freehold land and buildings

The investment properties were revalued by the director on the basis of an open market value during the year ended 31st March 2024.

Risk management policy

The trustee has assessed the major risks to which the charity is exposed, in particular, those related to the operations and finances of the charity and is satisfied that systems are in place to mitigate exposure to major risks accordingly. The trustee always ensures that the charity holds a diverse property portfolio.

Reserves policy

The charity's policy is based upon the application within each period of a significant proportion of such unrestricted funds as are available whilst at the same time building up its income producing base. The intention is to strengthen the charity's ability to sustain a high level of charitable distribution for the foreseeable future.

Going concern

The financial statements have been prepared on a going concern basis as the trustee believes that no material uncertainties exist. The trustee has considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of resources for the charity to be able to continue as a going concern.

Principal funding sources

The main source of the charity's income are donations from subsidiary companies, property investments and return from other investment.

Plans for future periods

It is the intention of the charity to continue to advance religion to a wider Jewish community and to provide support for existing religious activities and the introduction of new subjects.

The trustees expect the subsidiaries to continue to generate profits at a satisfactory level such that the charity will be able to maintain a seasonable level of grants to charity institutions in furtherance of the charity's objects. The trustees also continue to seek ways to maximise the charity's income from its investments and activities to enable it to continue its charitable objectives.

Page 3

EVELAND LIMITED ~~(A COMPANY UMIED BY GUARANTEE)~~

DIRECTORS' AND TRUSTEES' REPORT

FOR THE YEAR ENDED 31ST MARCH 2024

Trustee's responsibilities in relation to the financial statements

The trustee (who is also the sole director of Eveland Limited for the purpose of company law) is responsible for preparing the Trustee's Report and fmancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 "The Financial Reporting standard applicable in the UK and Republic oflreland".

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including income and expenditure, of the charity for that period. In preparing these financial statements, the trustee is required to:

Select suitable accounting policies and apply them consistently;

Observe the methods and principles in the Charities SORP;

Make judgements and estimates that are reasonable and prudent.

State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

Prepare the ·financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustee is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. The trustee is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions of Pait 15 of the Companies Act 2006 relating to small companies

This report was approved by the director and trustee on 10[th ] January 2025 and signed on his behalf.

/ Mrs. Goldi Jacobowitz .Director L��

Date: 10.01.2025

Page4

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEE

OF EVELAND LIMITED

(A COMPANY LIMITED BY GUARANTEE)

Independent examiners report to the trustees of Eveland Limited

We report on the accounts of Eveland Limited for the year ended 31[st ] March 2024 which are set out on pages 6 to 14. The trustee considers that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Examine the accounts under section 145 of the 2011 Act;

Follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act; and;

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 seeking explanations from you as the trustee 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:

Leonard Finn & Co. Services Limited Chartered Accountants Brentmead House Britannia Road London N129RU

Page 5

EVELAND LIMITED (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024

Incoming resources
IncomingResources fromgeneratedfunds:
Voluntaryincome
2
Investmentincome
3
Total incoming resources
4
Resources expended
Charitableactivities
5
Costsof generatingfunds
6
Governance costs
7
Total resources expended
(Deficit)/Net resources
Unrealisedgains on assetsforcharityuse
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total fundscarriedforward		 Unrestricted
Total
Funds
Total
Funds
Funds
2024
2023
£
£
£
341,757
341,757
268,321
147
147
49
341,904
341,904
268,370
341,904
341,904
268,370
274,730
274,730
262,610
296,269
296,269
68,115
5,160
5,160
5,169
576,159
576,159
335,894
(234,255)
(234,255)
(67,524)
(234,255)
(234,255)
(67,524)
2,197,750
2,197,750
2,265,274
1,963,495
1,963,495
2,197,750
STATEMENT OF RECOGNISED GAINS AND LOSSES
2024
£
£
£
Surplus/(Deficit) for the year
(234,255)
(67,524)
Revaluationduring the year
Total RecognisedGainsand Losses
relating totheyear
(234,255)		 STATEMENT OF RECOGNISED GAINS AND LOSSES
2024
£
£
£
Surplus/(Deficit) for the year
(234,255)
(67,524)
Revaluationduring the year
Total RecognisedGainsand Losses
relating totheyear
(234,255)		 STATEMENT OF RECOGNISED GAINS AND LOSSES
2024
£
£
£
Surplus/(Deficit) for the year
(234,255)
(67,524)
Revaluationduring the year
Total RecognisedGainsand Losses
relating totheyear
(234,255)		 STATEMENT OF RECOGNISED GAINS AND LOSSES
2024
£
£
£
Surplus/(Deficit) for the year
(234,255)
(67,524)
Revaluationduring the year
Total RecognisedGainsand Losses
relating totheyear
(234,255)		 2023
£
(67,524)
£
(234,255)		 2024
£
(234,255)

All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above.

Details of Incoming resources and resources used are given in the notes to the financial statements.

Page 6

COMPANY NUMBER: 01438829 (ENGLAND & WALES)

EVELAND LIMITED

(A COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET

AT 31ST MARCH 2024

Tangible fixed assets
Note
InvestmentProperties
9
Investments
10
Current assets
Cash atbank
Creditors
Amounts fallingduewithin
one year
11
Netcurrentassets
Total assets less current liabilities
Net assets
Capital funds
Revaluation Reserve-Unrealised gain
12
Unrestrictedfunds
Total funds		 £
1,083,768
(4,920)		 2024
£
996,863
197		 £
463,109
(6)		 2023
£
1,846,863
197
997,060
1,078,848		 1,847,060
463,103
2,075,908 2,310,163
2,075,908 2,310,163
112,413
1,963,495
2,075,908		 112,413
2,197,750
2,310,163

The annexed notes form part of these financial statements.

Page 7

St Forthe year endiDg 31 Marrll 2024. Ibe thtrity ¢thitled kn exemption fronh audit uDd¢r s¢¢tion 477 of thc Compani¢s A¢t 2006 r¢J•ing io small a>mp•ni<%. The directt)r has not required the company to obtsin audii of its statements for the yemd¢d 3l# March 2024 in XCOTdanc¢ with Secty)n 476 of the CornpaDi¢5 Act 2006. The director 8cknowled8e5 hi5 resp)n5ibilitiesfor'. Ensuring that the dbawitsblc keep5 that ¢omply with S¢ctioM 386 snd 387 olih¢ Compani¢s A¢i 2(KJ6 gnd.. Preparing fiLwKial statements which give a true 4nd fatr view of the stste of atFdirs of tbe ¢hwitsbl¢ ¢ompany L8 at the end of financial year and of its surplus or deficit for each financial yw in a¢¢othn¢¢ with th¢ requiTements of the Comwiies A¢1 2006 relatin& to fllwicia] Jiatementy w f applicable ts) the thwitabl¢ wmpany. Thcsc finanrial ststem¢nts hw¢ be¢n pr¢F4ffd in ￿¢￿1￿￿¢¢ with th¢ prthis1￿ 4ppli¢•ble to th8ritsbl¢ ¢ompanie8 subje¢1 to th¢ small ¢omp4nie$ re8im< These accouThts h8ve been prepared in accorthc¢ with the speci￿ provision$ of P￿ IS of th¢ Componics A¢t 2006 A)IAtitk8 to small eomp•nits with Fina￿1￿ RwtiA8 Stsndvd (FRS 102) for SM￿ler Bntities (effective January 2015). The finart¢iAI smtements oft pa8es 6 to 14 wer¢ approv￿ gnd aLItI￿ for issue by the ITU5t¢e on ioth Jlnuary 2025 and si8o¢d on his bthoif by.. Goldi Jk¢oiswitt. Di[#￿¥ 8¢8

EVELAND LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

I. 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 2015)', 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.

Going Concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Consolidation

The company and its subsidiary companies comprise of a small group. As the company is subject to the small companies' regime, group accounts have not been prepared.

Company Status

The charity is a company limited by guarantee. The member of the company is the trustee named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustee.

Restricted funds can only be used for a 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.

Page 9

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

EVELAND LIMITED

FOR THE YEAR ENDED 31ST MARCH 2024

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 with reasonable accuracy. The donations received in the year were raised specifically for the purchase and maintenance of the associated properties.

Rents receivable

Rents are recognised in the statement of financial activities when the conditions of receipts have been complied with.

Donations receivable Donations receivable are included in the accounts in the year in which they are receivable.

Investment income

Investment income is included in the accounts in the year in which they are 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.

Donations payable

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.

Tangible fixed assets and depreciation

Freehold land and buildings, held as investment properties are revalued annually and included in the balance sheet at their open market value. Surpluses and deficits arising on revaluation are dealt with in the Income statement, previously the statement of financial activities.

Depreciation is provided at the following annual rates in order to write off the value of each asset over its estimated useful life.

Investment Properties - Nil

No depreciation is provided on investment properties. Although this accounting policy is in accordance with the Financial Reporting Standards, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the trustee compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified quantified.

Page 10

EVELAND LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

Taxation

Eveland Limited is a charity, is exempt from taxation of income and gains falling within Section 478 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent they are applied to its charitable objects. No tax charge arises in any of the subsidiary entities included in the charity's accounts due to their policy of gifting taxable profits to Eveland Limited each year.

Deferred tax

Deferred tax is provided in full in respect of the taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Investments

The company's investments in subsidiaries are stated at cost.

Investments held for investment purposes are stated at Market Value.

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost.

Page 11

EVELAND LIMITED

( A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

2. Voluntary Income

Voluntary Income is attributable to the principal activity of the company and is earned entirely within the United Kingdom.

3.
Investment Income&Gains
Interest
4.
Incoming resources
Voluntary Income
RentReceivable
Donations Received
Gain on sale of property
InvestmentIncome
Interest
5.
Charitableactivities
Charitable donations paid		 2024
2023
£
£
147
49
2024
2023
£
£
241,757
223,321
-
45,000
100,000
-
341,757
268,321
147
49
241,904
268,370
2024
£
2023
£
274,730 262,610

Page 12

EVELAND LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

6.
Costs of generating funds
Expenses incurred onInvestmentProperties
Letting Fee
Insurance
Repairs
Legal&Professional
Rates

7.
Governance costs
Audit & Accountancy fees
Bank Charges		 2024
£
16,281
7,941
146,063
124,028
1,956
296,269
2024
£
4,920
240
5,160		 2023
£
4,466
6,951
41,070
12,640
2,988
68,115

2023
£
4,920
249
5,169

8. Trustee's remuneration

The trustee neither received nor waived any emoluments during the year (2023 - £Nil).

9. Tangible fixed assets


Cost or valuation:
At 1st April 2023
Addition
Disposal
At 31st March 2024
Depreciation:
At 1st April 2023
Charge for the year
At 31st March 2024
Net book value:
At 31st March 2024
At 31st March 2024		 Investment
Properties
£
1,846,863
-
850,000
996,863
-
-
-
996,863
996,863

Page 13

EVELAND LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

Cost or valuation at 31 March 2024 is represented by;

Valuation in 2024

 Investment
Properties
£
996,863
996,863

Investment properties are valued on an open market basis as at 31[st] March 2024 by the director and Trustee.

10. Investments

Investments
Holding in Lencity Limited - 100% holding
Holding in Arogol Limited - 100% holding		 2024
£
99
98
197		 2023
£
99
98
197

The charity owns the entire issued share capital of Lencity Limited and Arogol Limited, both being property dealing and investment companies. The taxable profits of the subsidiaries are donated to the charity.

11. Creditors

Amounts falling due within one year: -

y
Director's Current Account
Accruals
Prepayments

12.
Revaluation reserve
Balance at 1 April 2023

Balance at 31 March 2024
 2024
£
-
4,920
-
4,920
2024
£
112,413
112,413		 2023
£
12,042
9,964
(22,000)
6

The historical cost of freehold land and buildings included a valuation of £996,863 before 2023 it was £1,846,863.

Page 14