**REGISTERED COMPANY NUMBER: 01546635 (England and Wales) REGISTERED CHARITY NUMBER: 282386** ## **REPORT OF THE TRUSTEES AND** ## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **FOR** ## **OLLINGHAM LIMITED** DAS Accounting Services Ltd 105 Eade Road OCC Building A 2nd Floor Unit 11a London N4 1TJ **OLLINGHAM LIMITED** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|3| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Balance Sheet**||6|| |**Notes to the Financial Statements**|7|to|12| |**Detailed Statement of Financial Activities**||13|| **OLLINGHAM 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 activities for public benefit** The charity's objectives are to further those purposes both in the United Kingdom and abroad recognised as charitable by English law. In furtherance of the aforementioned objects, the charity receives income from its cash deposits, investments and voluntary income from companies connected with the trustees which it utilises in the provision and distribution of grants and donations to organisations that fall within the objectives of the charity. The charity's principal activities, although not restricted to, are promoting the charitable activities of institutions teaching the principles of traditional orthodox Judaism, and the giving of philanthropic aid to the needy. 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. ## **Grant making policy** The trustees are approached for donations by a wide variety of charitable institutions and organisations operating in the United Kingdom and abroad which accord with the objects of the charity. In making grants and donations, the trustees use their personal knowledge of the institution, its representatives, operational efficiency and reputation. The trustees consider all requests and make donations based on the level of funds available. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** During the year the charity has continued its philanthropic activities and has maintained its support of organisations which engage in education, advancement of the Jewish faith and the giving of philanthropic aid. The reserves remain available to organisations which accord with the aims and objectives of the charity. The trustees expect to receive an increase in such demand in future years. The financial results of the charity are fully reflected in the attached financial statements and the notes thereon. Income from donations aggregated £331,859 (2020: £537,270) and total grants and donations paid were £247,150 (2020: £430,925). ## **FINANCIAL REVIEW** ## **Financial position** The financial position of the charity is satisfactory. The charity's Statement of Financial Activities shows a net surplus of £79,483 (2020: £104,121) and total reserves of £1,084,768 (2020: £1,014,825). ## **Principal funding sources** The charity's principal funding sources in the year were from donations from its non charitable operating subsidiaries. |**Company**|**Nature of Business**|**Percentage Holding**| |---|---|---| |Laurence Property (Investment) Co. Limited|Property Investment|100%| |Bluehaven Estates Limited|Property Investment|100%| |Awardprop Limited|Property Trading|50%| ## **Investment policy and objectives** Under the Memorandum and Articles of Association, the charity has the power to make any investment which the trustees see fit provided any moneys are not immediately required for use in connection with any of its objects. The charity's investment policy is to maximise the income and gains so that its charitable objectives be maintained and expanded. Page 1 **OLLINGHAM LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** ## **FINANCIAL REVIEW** ## **Reserves policy** The reserves policy of the trustees is to maintain unrestricted funds, which are the free reserves of the charity, to ensure that it is in a position to continue its on-going grant-making activities and cover contingencies arising from additional calls made upon the charity for the support of organisations in times of need. The free reserves of the charity are considered to be adequate to support anticipated expenditure and is reviewed periodically by the trustees. ## **FUTURE PLANS** The trustees plan to continue making distributions in accordance with their grant-making policy and to ensure that the ability to generate sufficient income is maintained to achieve that end. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** Ollingham Limited is a company limited by guarantee and has no share capital. Its governing documents are its Memorandum and Article's of Association. ## **Organisation** The charity is administered by the governors who are the trustees. Every trustee holds office until he/she shall die or shall cease to hold office by virtue of Article 35 of the Articles of Association. The day-to-day affairs of the charity are administered by the trustees whose chairman is Mr I Gluck. As set out in the Articles of Association the number of trustees shall be not less then three but shall not be subject to any maximum. The charity may by ordinary resolution appoint a person who is willing to act to be a trustee either to fill a vacancy or as an additional trustee. New trustees are appointed based on personal competence, specialist skills, local availability and from those who are able to promote the charitable activities of the charity. Induction of new trustees into the workings of the charity is undertaken by the current trustees. The quorum for the transaction of the business of the trustees may be fixed by the trustees but shall not be less than the majority of their number. None of the trustees have any beneficial interest in the charity. All trustees give their time voluntarily and no benefit or expenses were paid to them in the year. ## **Risk management** The trustees haver identified and reviewed the major risks to which the charity is exposed in particular those related to the operations and finance of the charity, and are satisfied that systems are in place to mitigate those risks. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 01546635 (England and Wales) ## **Registered Charity number** 282386 ## **Registered office** 105 Eade Road OCC Building A 2nd Floor, Unit 11a London N4 1TJ ## **Trustees** Mr I Gluck Mrs H Gluck Mrs F Gluck Mr C Gluck Page 2 **OLLINGHAM LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** ## **REFERENCE AND ADMINISTRATIVE DETAILS Company Secretaries** Mr C Gluck Mrs H Gluck ## **Independent Examiner** Mr Pesach Davidoff FCCA DAS Accounting Services Ltd 105 Eade Road OCC Building A 2nd Floor Unit 11a London N4 1TJ This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 31 December 2021 and signed on its behalf by: Mr I Gluck - Trustee Page 3 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OLLINGHAM LIMITED** ## **Independent examiner's report to the trustees of Ollingham 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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCCA which is one of the listed bodies. 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: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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. Mr Pesach Davidoff FCCA DAS Accounting Services Ltd 105 Eade Road OCC Building A 2nd Floor Unit 11a London N4 1TJ 31 December 2021 Page 4 ## **OLLINGHAM LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021** |**Notes**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
3
Grants to Institutions
Governance Costs
**Total**
**NET INCOME**
**Other recognised gains/(losses)**
Gains/(losses) on revaluation of fixed assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**2021**
**Unrestricted**
**fund**
**£**
331,859
5
331,864
247,150
5,231
252,381
79,483
(9,540)
69,943
1,014,825
1,084,768|**2020**
**Total**
**funds**
**£**
537,270
28
537,298
430,925
2,252
433,177
104,121
(5,750)
98,371
916,454
1,014,825| |---|---|---| The notes form part of these financial statements Page 5 ## **OLLINGHAM LIMITED (REGISTERED NUMBER: 01546635)** ## **BALANCE SHEET 31 MARCH 2021** |**Notes**
**FIXED ASSETS**
Investments
7
**CURRENT ASSETS**
Debtors
8
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds:
General fund
**TOTAL FUNDS**|**2021**
**Unrestricted**
**fund**
**£**
37,514
140,175
936,756
1,076,931
(29,677)
1,047,254
1,084,768
1,084,768
1,084,768
1,084,768|**2020**
**Total**
**funds**
**£**
47,054
204,593
791,097
995,690
(27,919)
967,771
1,014,825
1,014,825
1,014,825
1,014,825| |---|---|---| 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 2 December 2021 and were signed on its behalf by: Mr I Gluck - Trustee The notes form part of these financial statements Page 6 **OLLINGHAM 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Preparation of consolidated financial statements** The financial statements contain information about Ollingham Limited as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. ## **Accounting estimates and judgements** In the application of the charity's accounting policies, the trustees are requires to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered 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 period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The trustees do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below. ## **Income** Income is recognised in the Statement of Financial Activities once the charity is legally entitled to the funds after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. ## **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 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 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. ## **Charitable activities** Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## **Governance costs** Governance costs include cost of the preparation and independent examination of financial statements and cost of any legal advice to trustees on governance or constitutional matters. continued... Page 7 **OLLINGHAM LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **1. ACCOUNTING POLICIES - continued** ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** General unrestricted funds comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are funds subject to specific restricted conditions imposed by donors. There are no restricted funds as at the Balance Sheet date. Designated funds are funds, which have been set-aside at the discretion of the trustees for specific purposes. There are no designated funds as at the Balance Sheet date. ## **Investments in subsidiary and associate undertakings** Investments in subsidiary and associate undertakings are recognised at cost less impairment. ## **2. INVESTMENT INCOME** |Deposit account interest
**CHARITABLE ACTIVITIES COSTS**
Grants to Institutions
Governance Costs
**GRANTS PAYABLE**
Grants to Institutions|**Grant**
**funding of**
**activities**
**(see note**
**4)**
**£**
247,150
-
247,150|**2021**
**£**
5
**Support**
**costs**
**£**
-
5,231
5,231
**2021**
**£**
247,150|**2020**
**£**
28
**Totals**
**£**
247,150
5,231
252,381
**2020**
**£**
430,925| |---|---|---|---| ## **3. CHARITABLE ACTIVITIES COSTS** ## **4. GRANTS PAYABLE** All grants and donations were paid to charitable institutions for the advancement of religion and education and relief of poverty. The composition of donations is shown below. |United Talmudical Associates Limited
Chasdei Yisocher Dov
Beis Aharon TT Activity Centre
Edupoor Limited
Tevini Limited
Support the charity worker
Care All Limited
Other donations less than £10,000|£
45,475
25,000
23,510
22,200
20,000
20,000
15,000
75,965
247,150| |---|---| continued... Page 8 **OLLINGHAM LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **5. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): ||**2021**|**2020**| |---|---|---| ||**£**|**£**| |Independent examiner's fee|1,800|1,700| ## **6. 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. ## **7. FIXED ASSET INVESTMENTS** |**Shares in**
**group**
**Listed**
**Unlisted**
**undertakings**
**investments**
**investments**
**£**
**£**
**£**
**COST LESS IMPAIRMENT**
At 1 April 2020
18,504
28,500
50
Revaluations
-
(9,540)
-
At 31 March 2021
18,504
18,960
50
**NET BOOK VALUE**
At 31 March 2021
18,504
18,960
50
At 31 March 2020
18,504
28,500
50|**Totals**
**£**
47,054
(9,540)
37,514
37,514
47,054| |---|---| There were no investment assets outside the UK. The company's investments at the balance sheet date in the share capital of companies include the following: ## **Subsidiaries** ## **Laurence Property (Investment) Co. Limited** Registered office: 105 Eade Road, OCC Building A, 2nd Floor, Unit 11a, London, England, N4 1TJ Nature of business: Property Investment |**Class of share:**|**%**
**holding**| |---|---| |Ordinary|100| |Aggregate capital and reserves|**31.3.21**
**31.3.20**
**£**
**£**
2,649,736
2,625,894| |Profit for the year|56,842
16,235| continued... Page 9 **OLLINGHAM LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **7. FIXED ASSET INVESTMENTS - continued** ## **Bluehaven Estates Limited** Registered office: 105 Eade Road, OCC Building A, 2nd Floor, Unit 11a, London, England, N4 1TJ Nature of business: Property Investment |Nature of business: Property Investment|||| |---|---|---|---| ||**%**||| |**Class of share:**|**holding**||| |Ordinary|100||| |||**31.3.21**|**31.3.20**| |||**£**|**£**| |Aggregate capital and reserves||4,177,274|4,135,196| |Profit for the year||125,078|17,987| ## **Rightway Property Trading Limited** Registered office: 105 Eade Road, OCC Building A, 2nd Floor, Unit 11a, London, England, N4 1TJ Nature of business: Property Trading |Nature of business: Property Trading||| |---|---|---| ||**%**|| |**Class of share:**|**holding**|| |Ordinary|100|| |Aggregate capital and reserves||**31.3.21**
**31.3.20**
**£**
**£**
1
1| |**Fieldway Property Trading Limited**||| |Registered office: 105 Eade Road, OCC Building A, 2nd Floor, Unit 11a, London, England, N4 1TJ||| |Nature of business: Property Trading|**%**|| |**Class of share:**|**holding**|| |Ordinary|100|| |Aggregate capital and reserves||**31.3.21**
**31.3.20**
**£**
**£**
1
1| ## **Associated company** ## **Awardprop Limited** Registered office: 105 Eade Road, Occ Building A, 2nd Floor, Unit 11a, London, England, N4 1TJ Nature of business: Property Trading |Nature of business: Property Trading||| |---|---|---| ||**%**|| |**Class of share:**|**holding**|| |Ordinary|50|| |Aggregate capital and reserves||**31.3.21**
**31.3.20**
**£**
**£**
573,687
559,194| |Profit for the year||203,919
187,469| The above reflects the charity's share of the aggregate capital and reserves and profit for the year of its associate company. continued... Page 10 **OLLINGHAM LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Other debtors
Loan debtors
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
Accruals and deferred income|**2021**
**£**
12,531
127,644
140,175
**2021**
**£**
26,077
3,600
29,677|**2020**
**£**
7,449
197,144
204,593
**2020**
**£**
26,119
1,800
27,919| |---|---|---| ## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** Other creditors is due to F.F.F. Estates Limited, directors of which are trustees of the charity. The loan is interest free and repayable on demand. ## **10. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are a
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|s follows:
**Incoming**
**resources**
**£**
331,864
331,864|**At 1.4.20**
**£**
1,014,825
1,014,825
**Resources**
**expended**
**£**
(252,381)
(252,381)
**At 1.4.19**
**£**
916,454
916,454||**Net**
**movement**
**in funds**
**£**
69,943
69,943
**Gains and**
**losses**
**£**
(9,540)
(9,540)
**Net**
**movement**
**in funds**
**£**
98,371
98,371|**At**
**31.3.21**
**£**
1,084,768
1,084,768
**Movement**
**in funds**
**£**
69,943
69,943
**At**
**31.3.20**
**£**
1,014,825
1,014,825| |---|---|---|---|---|---| continued... Page 11 **OLLINGHAM LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **10. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
537,298
537,298|**Resources**
**expended**
**£**
(433,177)
(433,177)|**Gains and**
**Movement**
**losses**
**in funds**
**£**
**£**
(5,750)
98,371
(5,750)
98,371| |---|---|---|---| ## **11. RELATED PARTY DISCLOSURES** Other than disclosed elsewhere in the financial statements, no transactions with related parties were undertaken such as are required to be disclosed under FRS102. Page 12