Bear Mordechai Ltd
(Limited by guarantee)
Financial Statements
For the year ended 31 March 2022
Company Number 1653221 (England and Wales) Charity number 286806
Whiteside and Davies Accountants 158 Cromwell Road Salford M6 6DE
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BEAR MORDECHAI LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 1653221
CHARITY NUMBER 286806
FINANCIAL STATEMENTS FOR PERIOD ENDED 31 MARCH 2022
Contents
| Page | |
|---|---|
| Charity Information | 3 |
| Report of the Directors/Trustees | 4 - 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes forming part of the financial statements | 10 - 12 |
| Detailed profit and loss account and Statement | |
| of financial activities | 13 |
Page 3
BEAR MORDECHAI LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 1653221 CHARITY NUMBER 286806 FINANCIAL STATEMENTS FOR PERIOD ENDED 31 MARCH 2022
Charity Information
Board of Trustees
Mr E S Benedikt Mr Y Benedikt Mr C Benedikt
Directors
Mr E S Benedikt
Secretary's
Mr J G Benedikt Mrs L Benedikt
Registered address
158 Cromwell Road Salford M6 6DE
Administration Address
29 Fountayne Road London N16 7EA
Charity Number
286806
Company Registration Number
1653221 (England and Wales)
Accountants/ Independent Examiner
David Pollak Whiteside and Davies Accountants 158 Cromwell Road Salford M6 6DE
Bankers
Bank of Scotland St Jame's Gate 14-16 Cockspur Street London SW1Y 5BL
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BEAR MORDECHAI LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 1653221 CHARITY NUMBER 286806
FINANCIAL STATEMENTS FOR PERIOD ENDED 31 MARCH 2022
Report of the Directors/Trustees
The Directors/Trustees have pleasure in presenting their Report and Financial Statements of the Company/Charity for the period ended 31 March 2022.
The Directors/Trustees have adopted the provisions of the Statement Of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005 in preparing the annual report and financial statements of the charity.
Trustees and Governors
The Trustees in office throughout the year were Mr E S Benedikt, Mr. C Benedikt and Mr Y Benedikt. E S Benedikt was also directors for the purposes of company law.
All trustees give of their time freely and no trustee remuneration was paid in the year.
Reference and Administration
Reference and Administration details are shown in the schedule of members of the board and professional advisers on page 2 of the financial statements.
Structure, governance and management
Bear Mordechai Ltd is a charity constituted as a company limited by guarantee and as such, is governed by its memorandum and articles of association.
The Directors/Trustees are responsible for the governance of the organisation and are active in all operational aspects of strategic management. Major policy decisions are decided at full directors'/ trustees' meetings.
Charitable Objects
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The advancement of religion in accordance with the orthodox Jewish faith.
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The relief of poverty.
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Such other purposes as are recognised by English law as charitable.
BEAR MORDECHAI LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 1653221 CHARITY NUMBER 286806
Page 5
FINANCIAL STATEMENTS FOR PERIOD ENDED 31 MARCH 2022
Report of the Directors/Trustees (continued)
Achievements
During the year, the charity received most of its income from the investment properties that it holds.
The charity is pleased to report this year exceptional receipts of donations by generous benefactors.
All grants made by the Charity were to other registered charities in accordance with the charity's objects totalling £100,110 was distributed (2021: £110,210) as follows:-
| Almat Ltd. American Friends of Yad Yemin Amud Hatzdokoh Trust Beer Miriam Forty Ltd Pinebent Ltd. T.Y.A. Tevini Ltd. Tzedaka Bchol Eis Yad Yemin |
£ 6,500 7,500 360 3,450 1,000 19,400 1,500 13,800 13,800 32,800 |
|---|---|
| 100,110 |
The trustees plan to continue making similar grants and to ensure that an appropriate level of reserves is maintained.
In setting objectives and reviewing the Charity's aims and plans, the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit. The trustees confirm that they have complied with their duty to have due regard to the guidance on public public benefit published by the commission in exercising their powers or duties.
The trustees are please that this year a nice
Investment policy and returns
Under the memorandum and articles of association, the charity has the power to make any investment which the trustees see fit to utilise the charity’s assets to their maximum in its best interest. Investments by their very definition do carry a risk of loss.
The trustees are pleased to report a significant surplus during the financial period. This was due to a) a healthy return on its investments; and b) exceptional increase in donations received as above. The trustees continue to be committed to ensure that the charity funds are used for its purpose and intend on distributing the extra funds to worthy charitable causes in accordance to its objects.
BEAR MORDECHAI LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 1653221 CHARITY NUMBER 286806
Page 6
FINANCIAL STATEMENTS FOR PERIOD ENDED 31 MARCH 2022
Report of the Directors/Trustees (continued)
Risk Management
The Trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the investments and finance of the Charity. The Trustees are satisfied that these systems and procedures mitigate any perceived risks.
Reserves Policy
The trustees retain reserves of at leased £3,000 in cash at bank, consolidate funds in order to enable the charity to meet future needs or to make more substantial grants which they feel to be appropriate.
Responsibilities of the Directors/Trustees
Company Law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the Balance Sheet Date, and of its incoming resources, including income and expenditure for the financial year.
In preparing those financial statements, the Directors/Trustees should follow best practice and
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a. Select suitable accounting policies and apply them consistently.
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b. Make judgments and estimates that are reasonable and prudent.
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c. Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the financial statements.
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d. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The Directors/Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them as Directors/Trustees to ensure that the financial statements comply with the Company Law.
The Directors/Trustees are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.
Approved by The Directors/Trustees on 10 January 2023
E S Benedikt
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BEAR MORDECHAI LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 1653221 CHARITY NUMBER 286806 FINANCIAL STATEMENTS FOR PERIOD ENDED 31 MARCH 2022
Independent Examiner's Report to the Trustees
I report on the financial statements of Bear Mordchai Ltd for the period ended 31 March 2022.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements 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 financial statements 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.
David Pollak Whiteside and Davies Accountants 158 Cromwell Road Salford M6 6DE
Date: 10 January 2023
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BEAR MORDECHAI LTD
COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 1653221 CHARITY NUMBER 286806
FINANCIAL STATEMENTS FOR PERIOD ENDED 31 MARCH 2022
Statement of Financial Activities
| Turnover Expenditure Gross Income Overheads Loss on Investments Net loss for the year |
Notes 3 |
2022 £ 201,920 (100,110) 101,810 (3,835) 0 97,975 |
2021 £ 119,827 (110,210) |
|---|---|---|---|
| 9,617 (12,150) (83,901) |
|||
| (86,434) |
Page 9
BEAR MORDECHAI LTD
COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 1653221 CHARITY NUMBER 286806
FINANCIAL STATEMENTS FOR PERIOD ENDED 31 MARCH 2022
Balance Sheet At 31 March 2022
| BalaAbbreviated Balance Sheet | ||||
|---|---|---|---|---|
| Fixed Assets Investment Current Assets Cash at Bank Debtors Creditors Amounts due within one year Net current assets Total assets less current liabilities Creditors:Amounts falling due after more than one year Net Assets Accumulated Funds Unrestricted funds |
Notes 4 5 6 7 8 |
2022 2022 £ £ 431,815 87,023 459 87,482 (1,000) 86,482 518,297 (122,180) 396,117 396,117 |
2021 2021 £ £ 417,171 11,443 459 11,902 (2,000) 9,902 427,073 (128,931) 298,142 298,142 |
|
| 9,902 | ||||
| 427,073 (128,931) |
||||
| 298,142 | ||||
| 298,142 |
In approving these financial statements as directors of the company we hereby confirm:
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a. that for the year stated above the company was entitled to the exemption conferred by Section 477 of the Companies Act 2006 ;
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b. that no notice has been deposited at the registered office of the company pursuant to Section 476 requesting that an audit be conducted for the period ended 31 March 2022; and
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c. that we acknowledge our responsibilities for:
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ensuring that the company keeps accounting records which comply with Section 386 ; and
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preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the board and signed on behalf of them all.
11 January 2023
E S Benedikt - Director and Trustee
The notes on pages 10 to 12 form part of the balance sheet
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BEAR MORDECHAI LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 1653221 CHARITY NUMBER 286806 FINANCIAL STATEMENTS FOR PERIOD ENDED 31 MARCH 2022
Notes To The Accounts
1. Principal Accounting Policies
Basis of Accounting
The Accounts have been prepared under the historical cost convention in accordance with the Charities Act (Accounts and Reports) 2011, and the Financial Reporting Standard for Smaller Entities (Effective April 2008), and follow the recommendations in Accounting and Reporting by Charities: Statement of Recommended Practice (Issued March 2005).
Cash Flow
The accounts do not include a cash flow statement because the charity as a small reporting entity is exempt from the requirement to prepare such a statement.
Donations and Fund Accounting
Rental Income received for the general and main purposes of the Charity is included as unrestricted funds in the Statement of Financial Activities when receivable.
Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees.
Resources Expended
Resources expended are accounted for on an accruals basis.
Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
The irrecoverable element of VAT is included with the item of expense to which it relates.
Depreciation
Depreciation has not been charged on fixed assets as they consist wholly of investment properties as allowed under SSAP 19.
Investment Properties
Investment properties are included in the balance sheet at their market value.
Surpluses and temporary deficits are transferred to the revaluation reserve and on realisation transferred to the Profit and Loss Account as a reserve movement. Deficits which are expected
to be permanent are charged to the Profit and Loss Account and subsequent reversals are credited to the Profit and Loss Account in the same way.
Valuation of Investment Properties
Investment Properties are included in the Accounts at a Valuation carried out by the Director in accordance with Statement of Standard Accounting Practice Number 19.
2. Taxation
The Charitable Company is exempt from taxation on its charitable activities.
3. Turnover
The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK.
BEAR MORDECHAI LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 1653221 CHARITY NUMBER 286806
Page 11
FINANCIAL STATEMENTS FOR PERIOD ENDED 31 MARCH 2022
Notes To The Accounts (continued)
| 4. | Investments 2022 £ Property Joint Ventures Balance brought forward 417,171 Net surplus from syndicate Investments Surplus from property joint ventures 136,669 Net capital loss from sale of property 0 Interest payable (10,253) 126,416 543,587 Net capital withdrawn (111,772) 431,815 The Company's interest in the property joint ventures are: Brandwell Estate Company 5% equity Centurion Estate Company 12.5% equity Clifford Estate Company 3% equity Dawlish Estate Company 20% equity Dolphin court Estate Company 25% equity Farmfield Estate Company 9% equity Highcrest Estate Company 10% equity Holmleigh Estate Company 10% equity Littlewick Estate Company 20% equity Mealhouse Estate Company 25% equity Motherwell Estate Company 25% equity Neston Estate Company 3% equity Omegacrest Estate Company 7% equity |
2021 £ 515,515 120,583 (83,901) (5,475) 31,207 546,722 (129,551) 417,171 |
2021 £ 515,515 120,583 (83,901) (5,475) 31,207 546,722 (129,551) 417,171 |
|---|---|---|---|
| 546,722 (129,551) |
|||
| 417,171 | |||
The above are mostly holdings in property syndicates entrusted and managed by the Urban & Rural Group of Heaton House, 148 Bury New Road, Manchester, M7 4SE.
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BEAR MORDECHAI LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 1653221 CHARITY NUMBER 286806
FINANCIAL STATEMENTS FOR PERIOD ENDED 31 MARCH 2022
Notes To The Accounts (continued)
| 2022 £ 5. Debtors Trade debtors 0 Other debtors 459 459 6. CreditorsAmounts due within one year Accruals 1,000 7. Creditors:Amounts falling due after more than one year Directors loan account and associated companies 122,180 Total Charitable funds £ 8. Unrestricted funds 298,142 Net deficit for the year 97,975 396,117 At 01 April 2021 At 31 March 2022 |
2021 £ 0 459 |
|---|---|
| 459 | |
| 2,000 | |
| 128,931 | |
9. Company limited by Guarantee
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
10. Control
The company is incorporated for charitable purposes and has no controlling party.
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COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 1653221
BEAR MORDECHAI LTD
CHARITY NUMBER 286806
FINANCIAL STATEMENTS FOR PERIOD ENDED 31 MARCH 2022
Detailed income and expenditure account and statement of financial activities
| Incoming Resources Donations received Net surplus from syndicate Investments Other rental income Interest received Resources Expended Charitable Activities Cost of Activities In Furtherance of the Charity's Objects Loss on Investment Governance Costs Accountancy Bank charges and interest Insurance Casual wages Postage, stationery and office costs Total Funds Expended Accumulated Funds Net surplus (deficit) for the year Balance brought forward Balance carried forward Grants and donations paid to UK registered charities |
Notes 4 |
2022 £ 100,110 0 |
2022 | 2022 | 2022 Total £ 72,900 126,416 2,602 2 201,920 (103,945) 97,975 298,142 396,117 |
2021 £ 110,210 83,901 |
2021 | 2021 Total £ 1,362 115,108 1,205 3 |
|---|---|---|---|---|---|---|---|---|
| £ | ||||||||
| 117,678 (204,112) |
||||||||
| 100,110 900 295 145 0 2,495 |
194,111 1,000 270 100 5,972 2,659 |
|||||||
| 3,835 | 10,001 | |||||||
| (86,434) 384,576 |
||||||||
| 298,142 |