REGISTERED COMPANY NUMBER: 01485537 (England and Wales) REGISTERED CHARITY NUMBER: 281047
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for
Elanore Limited
Martin+Heller 5 North End Road London NW11 7RJ
Elanore Limited
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
Elanore Limited
Report of the Trustees for the Year Ended 31 March 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity was established to support the advancement of the Jewish religion and Jewish religious education and the alleviation of poverty among the Jewish community.
Significant activities
During the year, grants to charitable institutions amounted to £68,216 (2020: £79,550).
Public benefit
The Trustees confirm their compliance with the duty to have due regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
01485537 (England and Wales)
Registered Charity number
281047
Registered office
5 North End Road London NW11 7RJ
Trustees
Mrs D Beck Miss M Beck Mrs Y Tesler
Company Secretary
Mrs D Beck
Independent Examiner
Martin+Heller 5 North End Road London NW11 7RJ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Page 1
Elanore Limited
Report of the Trustees for the Year Ended 31 March 2021
........................................................................ Mrs D Beck - Trustee
Page 2
Independent Examiner's Report to the Trustees of Elanore Limited
Independent examiner's report to the trustees of Elanore Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A Heller FCA Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
Elanore Limited
Statement of Financial Activities for the Year Ended 31 March 2021
| 31.3.21 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Investment income 2 67,991 EXPENDITURE ON Raising funds 3 1,480 Charitable activities Grants made 68,216 Other 1,164 Total 70,860 NET INCOME/(EXPENDITURE) (2,869) RECONCILIATION OF FUNDS Total funds brought forward 854,691 TOTAL FUNDS CARRIED FORWARD 851,822 |
31.3.20 Total funds £ 69,785 1,955 79,550 1,442 82,947 (13,162) 867,853 854,691 |
|---|---|
The notes form part of these financial statements
Page 4
Elanore Limited
Balance Sheet 31 March 2021
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Debtors 7 Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds TOTAL FUNDS |
31.3.21 Unrestricted fund £ 650,000 14,000 189,658 203,658 (1,836) 201,822 851,822 851,822 851,822 851,822 |
31.3.20 Total funds £ 650,000 5,000 202,091 207,091 (2,400) 204,691 854,691 854,691 854,691 854,691 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
The notes form part of these financial statements
............................................. D Beck - Trustee
Page 5
Elanore Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.21 | 31.3.20 | |
| £ | £ | |
| Rents received | 67,991 | 69,785 |
Page 6
continued...
Elanore Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
3. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| 31.3.21 | 31.3.20 | |
| £ | £ | |
| Insurance | 1,480 | 1,955 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Investment income | 69,785 |
| EXPENDITURE ON | |
| Raising funds | 1,955 |
| Charitable activities | |
| Grants made | 79,550 |
| Other | 1,442 |
| Total | 82,947 |
| NET INCOME/(EXPENDITURE) | (13,162) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 867,853 |
| TOTAL FUNDS CARRIED FORWARD | 854,691 |
continued...
Page 7
Elanore Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
6. TANGIBLE FIXED ASSETS
| COST At 1 April 2020 and 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income Accrued expenses 9. MOVEMENT IN FUNDS At 1/4/20 £ Unrestricted funds General fund 854,691 TOTAL FUNDS 854,691 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 67,991 TOTAL FUNDS 67,991 |
Freehold property £ 650,000 650,000 650,000 31.3.21 31.3.20 £ £ 14,000 5,000 31.3.21 31.3.20 £ £ 636 - 1,200 2,400 1,836 2,400 Net movement At in funds 31/3/21 £ £ (2,869) 851,822 (2,869) 851,822 Resources Movement expended in funds £ £ (70,860) (2,869) (70,860) (2,869) |
|---|---|
continued...
Page 8
Elanore Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/4/19 £ Unrestricted funds General fund 867,853 TOTAL FUNDS 867,853 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 69,785 TOTAL FUNDS 69,785 |
Net movement At in funds 31/3/20 £ £ (13,162) 854,691 (13,162) 854,691 Resources Movement expended in funds £ £ (82,947) (13,162) (82,947) (13,162) |
At 31/3/20 £ 854,691 |
At 31/3/20 £ 854,691 |
|---|---|---|---|
| 854,691 | |||
| (13,162) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/4/19 £ 867,853 867,853 |
Net movement in funds £ (16,031) (16,031) |
At 31/3/21 £ 851,822 |
|---|---|---|---|
| 851,822 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 137,776 | (153,807) | (16,031) |
| TOTAL FUNDS | 137,776 | (153,807) | (16,031) |
continued...
Page 9
Elanore Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
Page 10
Elanore Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
| 31.3.21 | 31.3.20 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Rents received | 67,991 | 69,785 |
| Total incoming resources | 67,991 | 69,785 |
| EXPENDITURE | ||
| Investment management costs | ||
| Insurance | 1,480 | 1,955 |
| Charitable activities | ||
| Grants to institutions | 68,216 | 79,550 |
| Support costs | ||
| Management | ||
| Sundries | - | 120 |
| Bank charges | (36) | 122 |
| (36) | 242 | |
| Governance costs | ||
| Accountancy fees | 1,200 | 1,200 |
| Total resources expended | 70,860 | 82,947 |
| Net expenditure | (2,869) | (13,162) |
This page does not form part of the statutory financial statements
Page 11