COMPANY REGISTRATION NUMBER: 01472619 CHARITY REGISTRATION NUMBER: 280555 Entwood Charities Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 GK & CO. LLP Chartered accountants Hallswelle House 1 Hallswelle Road London England NW11 ODH
Entwood Charities Limlted Company Limited by Guarantee Financlal Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the directorfs report) Chartered accountsnl's port to the board of trustees on the preparation of the unaudited statutory financial statements Statement of financlal actlvrties (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not forni part of the financial statsmonts Detalled statement of financial activtties 16
Entwood Charltles Llmited Company Limited by Guarantse Trustees. Annual Report (Incorporatlng the Dlrector's Report) Year ended 31 March 2024 The Iruslees, who are also the directors for the purposes of company law, psent their report and the unaudited financial statements of the charty for the year ended 31 March 2024. Refèrnnco and admlnlstratlvo d•tails Reglstered charity nama Entsvood Charilies Limtted Charlty reglstratlon numbor 280555 Company rggistration number 01472619 Prlnclpal Offi and reg18tered Hallswelle House office 1 Hallswdle Road London NW11 ODH Tho trustees Mr B. Feldman Mrs D. Feldman Mrs S Friedman Accountants GK & Co. LLP Chartered accounlanls Hallswdle House 1 Hallswelle Road London England NW11 ODH Structur•, 90Mance and managornellt The charity incorwrated under the Companies Act on 14th January 1980 and is govemed by ils Memorandum & ArtleS of ASslation. The apwintmenl and recruitment of new Trustees is laid out in the compan$ Memorandum & Articles of Association. New Trust8es would be trained as deemed appropriate. The charity is run jointly by all the Trustees who make any irnportant decisions in tandem. The Trustees meet regularly to manage the charitS affairs. All administration work is carried out on a voluntsry basi5 by the Trustees. The ¢h8rilVs Memorandum & Artides of Assoclatlon aulhorise the Trustees to mak8 and hokl investments. In light of current economlc conditlons the Trustees consKler it prudent to continue their existing investment policy.
Entwood Charities Limited Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) {¢Dnllnu•d) Year ended 31 March 2024 Ob1Ve$ and actlvltles The objects of the charity are to advanGg religion in accordance with the Orthodox Jpwish faith and to support other charilable activities as are recAwnised by English Law as charitablg. In furtherance of ils objects the charity C4)nlinued lo advance and donate money and support other Gharities wth objects similar to those detaded above. The Trustees consKler it pnjdent to plan to retain sufficient free reserves lo te able to meet any planned expenditure that may need to be Incurred on its funCtnal properties. On¢e sufficient reserves have been retsined to meet this planned future expenditure it is the Trustees intention to build up sufficient additional reserves to meet esllmaled future charitable Gommilments. Strateglc report The following sections for achievements ar F*rfcwman¢e financial review form the strategic report of the charty. Achlevements and performanco The results of Ihese activities during the year are reltected in the attached accounts.
Entwood Charltles Limited Company Limited by Guarantee Trustoes. Annual Report (Incorporating the Dirèctofs Report) (contrnu¢dJ Year ended 31 March 2024 Flnanclal roViOW The financial position is as reflected in the attached Slatemenl of Flnancial Position. There has been an increase in the rental income received from the charitys functional properties, but there 1$ still a net deficit this year due lo an increase in donations made. a5 opposed to a net surpiu$ last year. As a result there has been a decrease in the level of reserves. The retained distributable reserves are still at a level considered éesirable by the Trustees in aOrd0bce with Iheir ReseNes Pdicy. The charitys aclwities are considered lo be sallsfaclory in light of the extremely d[icUlt economic conditions exists'ng al this time. RESERVES POLICY It is the Trustees desire to build up and maintain free reserves al a level to meet any planned expenditure lo be incuThed on the charivs functional properties and thereafter lo increase by an additional amount which will equate to a level of at least 3 years average charitable distribulKJns. The charit$ reserves are represented by unrestricted funds arisi from past operating results. At the year end the charity had totsl unrestricted funds of £8,819,33412023 £8.844,849). RELATED PARTY TRANSACTIONS Donations have been made of £50,000 to Ahavalh Chessed Charitable Assticiation Ltd. £10,000 to North London Charities Ltd & £35,000 to Bels Efraim. all connected charities in relation lo which ther8 are common directorsllrustees. RISK MANAGEMENT The Govemors have assessed the major risks to whth the charfty is exposed and are satisfied that systems are in place to mitigate such risks. PUBLIC BENEFrr The Trustees have considered the guidance published by the Charity Commisslon and believe that the charity in caffwng out its objectives. fully complies with these reqUIrnents. In particular the provision of funding for educatson in accordance with the principles of traditional Judalsm and the support of associated communal charitable institutions such as synagogues and homes for the elderfy and infirm automatically gives rise to a public benefit. Each year the Trustee5 review the objectives and activities of the charity to ensure that they continue lo rdect these aiwn5. In carwng out this review the Trustees have considered the Charity Commission's general guidance on public benefit and in partlcular Its supplementary public guidance on the advancement of religion for the public benefit. FUNDING The charity do8s not partake in exlemal funding activities. Funds are derived on an annual basis from rental income received from its, functional properties and from donations from charities and companles directly or indirectly connected wth the trustees. Plans for future perfods The Trustees, objectives for the future are to continu8 to cary out the aCtNIt as detailed in their report.
Entwood Charities Limited Company Limltod by Guarants• Trustees. Annual Report (Incorporating the Director's Report) (conthiuod) Year ended 31 March 2024 The trijstees, annual report and strategic resyxt were approved on 4 February 2025 and signed on b8half of the board of trustees by.. Mr B. Feldman Trustee
Entwood Charities Limited Company Limited by Guarantee Chartered Accountant's Report to the Board of Trustees on the Preparation of the Unaudited Statutory Flnancial Statements of Entwood Charltles Llmited Year ended 31 March 2024 As described on the statement of financial position, the trustees of the charity are responsible for the preparalK)n of the financial ststements for the year ended 31 March 2024, which comprise the stalemer¢t of financial activities {including irthme and expenditure account), statement of financial position and the related notes. You cortsider that the charity is exempt from an audÉt under the Companies Act 2006. In accor(lance with your instructions we have complled these financial statements in order lo assist you lo fulfil your statutory responsibilities, from the accountin9 records and from Information ar explanatioS supplied to us. GK & CO. LLP Chartered accounlanls Hallswelle House 1 Hallswelle Road London England NW11 ODH
Entwood Charities Limited Company Limited by Guarantee Statem•nt of Flnancial Activities (including income and expendlture account) Year ended 31 March 2024 2024 Unrestricted funds Total funds Total funds 2023 Nolo Incomo and endowments Donations and legacies other trading activities Total incom• 15,000 195,568 207,954 207.954 207,954 207.954 210,568 ExponditUlO Expenditur8 on raising funds: Costs incurred regarding other trading activlties Expenditure on CharItae aclivilies Total oxpandlture 41,800 191,669 41.800 191,669 39,749 96,521 233,469 233,469 136,270 Net (experhditurn)Ilncome and net movemenl In funds (25.5151 (2S.5151 74.298 Reconclllatlon of funds Total funds brought forward Total funds carrlod fonvard 8,844,849 8.8H849 8.770,551 8,819,334 8.819.334 8.844,849 The statement of fina181 aclNities include5 all gains and losses recognised in the year. All income and expenditure (lerive from continuing activities. Th• notes on ge$ 8 to 14 farni part of these financi•l 8tat•m¢nts.
Entwood Charities Limited Company Lirnited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Fixed assets Tangible fixed assets 12 7.861,461 7,861,461 Curronl assets Debtors Cash at bank and in hand 14 945.771 149.468 982,963 136,321 1,119,284 1.095.239 Cr•ditors: amounts falling due wilhln ona year Not Gurront assets 15 137,366 135.896 957,873 8,819.334 983.388 Total assots less current Ilabllities 8,844.849 Funds of thecharity Unrestricted funds 8,819,334 8,819,334 8,844,849 8,844,849 Total chaTity fund$ 16 For the year ending 31 March 2024 the Charity was entitled to exemption from audil under section 477 of the Companies Act 2006 relating to small companie5. Difethrs, responsibilities: The members have not required the company to obtaln an audit of ils financial 8ts1ements for the year in question in accordance wlh section 476. The directors aCknOedge their responsibilities for complwng with the requirements of th6 Acl with respect to accounting records and the preparalv)n of financial statements. Thes8 financial slalements have been prepared in ac¢ordan¢e wlh the provisions applicable to companies subject to the small companies, regime. These finanual statements were approved by th8 board of trustees and authorised for i$$ue on 4 February 2025. and are signed on behalf of the board by.. Mr B. Feldman Trustee The notes on pag•8 8 to 14 form part of th1 financlal statomonts.
Entwood Charitles Llmlted Company Llmited by Guarantee Notes to the Financial Statsments Year ended 31 March 2024 General Information The charity is a public benefit entity and a private company limlled ty guarantee. registered in England and Wales and a rwJistered charity in England and Wales. The address of the regislereil office is Hallswelle House. 1 Hallswelle Road, London, NW11 ODH. Statomgnt of compliance These financial statements have been prepared in complSance wlh FRS 102, The FinanGial Reporting Standard applicable in the UK and the Reputlic of Ireland,. the Slalement of Recommended Practice applicable to oharities preparing their accounts in accordanoe with the Finanrial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {Charities SORP IFRS 10211 and the Companies Act 2006. Accountlng policies Ba#is of prwaratlon The financial statements have been prepared on the historical cost basis, as modrfied by the revaluation of certain financial assets and liabilities and investment properties measured al fair value Ihrough income or exp8ndilure. The financpl statements are prepared In stediry, which is the functional Gurrency of the entity. Golng conGem There are Tr) material uncertainlies about the charit$ ability to continue. Judgements and key sourGg5 of tIMatIon uncertainty The preparatSon of the financial statements requires management lo make judgements, estimates and assumptions Ihal affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed lo be reasonable under the circumstan¢es. Fund a¢¢ountlng UnrestriGted funds are availa1e for use at the dlscretlon of Ihe trustee5 to further any of the harivs purposes. Designated funds are unrestricted funds earmarked by the trustees for partwlar future project or commilmenl. Restricted funds are subjected to reslriclion$ on thelr expenditure declared by Ihe donor or through terms of an appeal, and fall into one of Iwo sub-classes.. restricted income fuNls or Jowment funds.
Entwood Charltles Limited Company Llmited by Guarantee Notes to the Finan¢lal Statements (¢Mllftu*dJ Year ended 31 March 2024 Accountln9 pollclo8 (¢ontlnu6dJ Incoming Tesourc•s All incoming resources are Included in the statement of financial activities when entrtlement has P8ssed to the charity,- rt is probable that the economic benefit$ associated with the transactson will flow lo the charity and the amount can be reliably measured. The following $peCrf policies are applied to particular categories of income: income from donatSons or grant5 1$ cOgniSed when there is eVIdee of enlitlemenl to the grf( recelpt Is probable and ils amounl can be measured reliaity. legacy Income is recognised when receipt is probable and entitlement is established. Income from donated gcx)ds is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities atKI services are recogniged in the accounts hen received rf the value can reliably measured. No amounts are induded for the contribution of general volunteers. income from contra¢ts for the supply of services is recognlsed wlh the delivery of the contracted service. This is classified as unrestricted funds unless there is g contractual requirement for il lo be spent on a particular purpose and returned if unspwl. in which case it may be regarded as restricted. Rosour¢es expended Expenditure is recognised on an accruals basis as 8 liability is inc&Jrred. Expenditure includes any VAT which cannot be fully recovereé. and is classrfth under headings of the statement of financial adivities to which it relAtes'. expenditure Dn raising funds indudes the costs of all fundraising arltieS. events, non- charitsble trading activities, and the Sale of donated goods. expenditure on charitable activities includes all costs Irued by a charty in undgrtaking activtties that further its charitable aims for the benefit of ils berfiCIaTies, irKluding those support costs and costs relating to the governance of the charlty apportioned lo Charitable activities. other expenditure indudes all expenditure that is neither relatgj to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated lo expenditure categories rdecling the use of the re50uTce. Direct costs altributable lo a single aclivty are allocated direclty to that activty. Shared costs a apportioned between the activities they ¢ontribute lo on a reasonable. justlfiable and consistent basis. Tangiblè assets Tangible a55et5 are initially recorded al cost, and subsequently staled at cost less any accumulaled depreciation and impairment losses. Any tangible assets carried al revalued amounts are recorded at the fair value at the date of revaluation less any 8ubsequenl a¢Gumulated depreciation and subsequent accumulated impairment losses.
Entwood Charities Limited Company Llmlted by Guarantee Notes to the Flnancial Statements (conllnu Year ended 31 March 2024 Accounting pollclos (continu¢d) Tanglble assets (contlnu•d) An increase in the carying amount of an asset as a r8sult of a revaluOn. is recognised in other recognised gains and losses, unless il reverses a charge for impairment that has previously been recognised as expenditur8 within the statement of financial aclivilies. A decrease in the Garying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses. oxGepl to which it offsets any previous revaluation gain, in which case the loss is shown wthin other recognised gains and10$ses on the statement of financial activilles. Investm•nts Unlisled equity investments are initially recorded at cost, and sUbSequenY measured al fair value. If fair value &innot be reliably measured, assets are measured al cost less impaimienl. Listed investments are measured al fair value wth changes in fair value being recognised in income or expenditure. Impalrment of flxed a580ts A revlew for indicators of impairment is carried out at each reportlng dale, with the recoverable amount being eslimaled where such indicators exist. Where the carrying value exceeds Ihe recoverable amount, the asset is impaired accordingly. Prlor Impaimienls are also reviewed for possible reversal at each reporting dale. For the purposes of impairment lesling, vthen il is not possible to estimate the recoverable amount of an indwidual asset, an eslim8le is made of the reGovwable amount of the Gash- generating unil to 1¢ the asset belongs. The cash-generaling unit ig the smallest idenlifiable group of assets that includes the asset and generales cash inflows that largely independent of the ¢ash infiows from other assets or groups of assets. For impairment testing of goo(knll, the goodwill acquired in a business combination is, from the aUlSi110n dale, allocated lo each of the cash%enerating units Ihat are expe¢ted to benefit from the syrsergies of the combination, irrespeclive of whether other assets or liabilities of the charity are assigned to those units. Financial Instruments A financial asset or a finanGial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the 8mount recewable or payable including any related transacllon costs. Current assets and current liabilities are subsequenlly measured at the cash or other Consideration expected to be paid or received and nol discounted. Debt instruments a subsequently measured at amortlsed cost. Where investment$ in shares are publicly traded or their fair value olhernise be measured reliably, the investment is subsequently measured al fair value with changes in fair value recognised in income and 8xpendilure. Ml other such investments are subsequendy measured at cost le$$ impairn18nl. io-
Entwood Charities Llmlted Company Llmlted by Guarantee Not•s to the Flnanclal Statements (contlnwd) Year ended 31 March 2024 ounting policles (wJ6fnwdJ Flnanclal Instruments f¢ortlnu Other financial instruments, including derivatives, are initially recognised at fair value, unless payTnenl for an asset is deferred beyoné normal business terms or financed at a rale of inlerest that is not a market rate, in which Case the asset is measured at the present value of the future payrnen15 discounled al a market rate of interest for a similar debt instrument. Other financial inslruments are subsequently measured al fair value, with any Ghanges recognised in the 5talemenl of financlal activities. with the exception of hedging inslrumenls in a designated hedging relationship. Financial assets that are measured al cost or amortlsed cost are reviewed for objective evldence of impaimient al the er* of each reporting date. If there is objective evidenc8 of impairment, an impaimienl loss is recognised under the appropriate heading in the statement of fflnanclal activities in which the initlal galn was recognised. For all equity instruments regardless of significan. and other financial assets that are individually signrficant. these are assessed individually for impaimienl. Other financial assets are either assessed indtvidually or grouped on the basis of similar credit risk characterist. Any reversals of impaimienl are recognised immediately, lo the extent that the reversal doe5 Trjt result in a carrying amount of the financial 8ssel that exceeils what the carrying amount would have been had the impairment not previously been recognised. Llmltod by guarantae The charity is a limited company. limited by guarantee and accordingly has no Share capital. Donatlons and legacies Unrestricted Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Donation$ Donations received 15.¢XIO 15,000 Oth•r tradlng activities Unrestricted Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Rents receivable 207,954 207.954 195,568 195.568 Costs Inculrgd regarding other trading activities Unrestricted Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Costs of raising donations and legacies 41,800 41.800 39,749 39.749 11-
Entwood Charltles Limited Company Limited by Guarantee Notes to the Financial Statements (contlnuvdj Year ended 31 March 2024 Expèndlture on charitable actlvltles by fund type Unrestricted Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Charitable donations & grants Support costs 186.660 5,009 18fj,660 5,009 191,669 90,001 6,520 90,001 6,520 96,521 191.669 96.521 Expondlturo on charitabl• activltles by activity typè Acllvilie5 undertaken directly Support C06ts Total funds 2024 Totsl fund 2023 ChaTilable donations & grants Governance costs 186,660 186,660 5.009 .001 6.520 5.009 186,660 5.009 191.669 .521 10. Stsff w¥ts The total Staff cosls a1 employeg benefits for the reporting peried are analysed as follows.. 2024 2023 Wage5 and $alaries The average head count of employees duriry the year was 312023.. 3). The average number of full-time equivalent employees during the year is analed as foflows.. 2024 No. 2023 Number of stsff - Managern No employee receNed employee benefts of moro than £60,000 during the year12023.' Nill. 11. Trustee remunoratlon and expenses No remuneration or other benefits from employment with Ihe charty or a related enlity were receNed by the trustees. 12-
Entwood Charities Llmlted Company Limited by Guarantse Notes to the Financial Statements (¢ortthu•d) Year ended 31 March 2024 12. Tanglble fixod assèts Land and buildings Cost At 1 Aprll 2023 and 31 March 2024 D•preclallon At 1 Aprll 2023 and 31 March 2024 Carrylng amount At 31 March 2024 7,861.461 7,861,461 7,861,461 At 31 March 2023 13. Investments Total Carrying amount At 31 March 2024 Al 31 March 2023 An inveslm8nts shown ave are held al valuation. 14. Debtors 2024 2023 Amounts owed by group undertakings Other debtors 900,138 45,633 945,771 900.000 82,963 982,963 15. Credltor8: amounts falllng du• within one year 2024 2023 Other ¢redilcrfs 137.366 135.896 -13-
Entwood Charities Limlted Company Limlted by Guarante• Notes to the Financial Statements (¢Onllnu8d) Year ended 31 March 2024 16. Analysis of charitable funds Unrestrfctgd fund$ 31 March 202 1 April 2023 Income Expenditure General funds 8,844,849 207,954 {233,4691 8.819,334 At 31 March 202 1 April 2022 Income Expendllure General furK15 8.770.551 210,568 {136,2701 8,844.849 17. Analysis of nat assets betwfjon funds Unrestricle¢J Total Funds Furvjs 2024 Tangible fixed assets Current assets Creditors le5S than 1 year N•t assets 7,861.461 7.861,461 1,095.239 1,095,239 {137.3661 1137,366) 8,819,334 8,819,334 Unrestricted Totsl Funds FUMIS 2023 Tangible fixed assets Investments Current assets CrediloTs less Ihan 1 year Not a880ts 7,861,461 7.861.461 1,119.284 1.119,284 1135,8961 1135.896) 8,844,849 8,844,849 14-
Entwood Charities Llmlted Company Limlted by Guarantee Managoment Infomiation Year ended 31 March 2024 The following pago5 do not forni part of the financial statements. 15-
Entwood Charities Limited Company Limited by Guarantee Detalled Statement of Financial Activities Year ended 31 March 2024 2024 2023 InGomg and •ndowments DonationB and 1ogacle$ Donations received 15,000 Other tradlng actlvltlos Rent8 receivable 207,954 195,568 Total InGom• 207.954 210.568 Expendlture Costs Incurred rogardlng other tradlng actlvltlgs Wages and salaries Rates and water Light and heal Repairs and maintenanco InsuratKe Legal and professional fees Cleaning 494 5,537 3,700 691 32.336 3.042 {6.0511 39,749 37,180 4,620 41.800 Expendlture on charitabl• actlvlties Donations Legal and professional fees Other interest payable and simllar charges Loss on disposal of investment 186,660 4,998 11 90.000 6.503 17 191,669 96,521 Totsl expendituro 233,469 136,270 Net {expondituroifin¢ome (25.515) 74.298 16-