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2021-03-31-accounts

Company Registration Number: 1338655 Charity Number: 287990

BRAVETREE LIMITED

Company Limited by Guarantee Unaudited Financial Statements

For the year ended

31 March 2021

BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

CONTENTS PAGE
Trustees and professional advisers 1
Trustees Annual Report 2-3
Statement of financial activities 4
Statement of Financial Position 5
Notes to the financial statements 6-11

BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE

TRUSTEES AND PROFESSIONAL ADVISERS

Registered charity name Bravetree Limited Charity number 287990 Company number 1338655 Principal office 95 Osbaldeston Road London N16 6NP Trustees Mr Y M Rand Mrs R Rand Company Secretary Mrs R Rand Bankers Barclays

- 1 -

BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

The trustee, who are also the Directors for the purpose of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Reference and administrative details are shown in the schedule of trustees and professional advisers on page 1 of the financial statements.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is constituted as a company limited by guarantee, and is therefore governed by its Memorandum and Articles of Association.

The governors (trustees) administer the day – to – day affairs of the charity. None of the trustees have any beneficial interest in the charity.

It is not currently the intention of the trustees of the charity to appoint new trustees. Should the situation change in the future, the trustees will apply suitable recruitment training and induction procedures.

OBJECTIVES AND ACTIVITIES

The charity us established to further those purposes both in the United Kingdom and abroad recognised as charitable by English Law and in furtherance of the aforementioned objects.

The charity receives income mainly from its property investments, which it utilises in the provision and distribution of grants and donations.

The charity`s principle activity throughout the year was the provision and distribution of donations and grants to organisations, and no change is envisaged in the immediate future.

The trustees confirm that they have referred to the guidance contained in the Charity Commissions general guidance on public benefit when reviewing the charitys aims and objectives and in planning future activities and setting the grant making policy for the year.

STRATEGIC REPORT

The following sections for achievements and performance and financial review from the strategic report of the charity.

ACHIEVEMENTS AND PERFORMANCE

During the year the company continued to pursue its philanthropic objects in support of educational, religious and other charitable organisations. Income from investments aggregated £33,117. Total resources expended were £38,030 resulting in net loss of £4,913.

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BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2021

FINANCIAL REVIEW

The financial results of the charity`s activities for the year to 31 March 2021 are fully reflected in the attached Financial Statements together with the Notes thereon.

RESERVE POLICY

It is the policy of the charity to maintain unrestricted funds, which include the free reserves of the charity, at a level which the trustees think appropriate, after considering the future commitments of the charity and the likely costs of the charity for the next year. At 31 March 2021 the charity had unrestricted funds aggregating £115,019.

As at 31 March 2021, the charity has free reserves of £10,109.

GRANT MAKING POLICY

Grants are made to charitable institutions and organisations which accord with the objects of the charity.

The trustees are approached for donations by a wide variety of charitable institutions operating all over England. The trustees consider all requests which they receive and make donations based on the level of funds available.

RISK MANAGEMENT

The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to manage these risks.

PLANS FOR FUTURE PERIODS

The aim is to continue to provide support in form of grants and donations to educational, religious and other charitable organisation

Signed on behalf of the trustees

.......................................................... Mrs R Rand Charity Secretary

10/04/2022

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BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2021

Notes
INCOMING RESOURCES
Incoming resources from generated funds
Investment Income
5
Total Incoming resources
RESOURCES EXPENDED
Costs of charitable activities
Investment management costs
6
Expenditure on charitable activities
7,8
Bank interest
11
Total resources expended
NET INCOMING/(OUTGOING)
RESOURCES
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Total Funds
Funds
2021
£
£
33,117
33,117
33,117
33,117
29,352
29,352
8,660
8,660
18
18
38,030
38,030
-4,913
-4,913
120,022
120,022
115,109
115,109		 2020
£
28,742
28,742
4,187
24,703
0
28,890
-148
120,170
120,022

The Notes form part of the financial statements

Page 4

BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE

2021
Notes
£
£
FIXED ASSETS
Tangible fixed assets
13
105,000
CURRENT ASSETS:
Debtors
14
16,562
Cash at bank and in hand
1,707
18,269
CREDITORS: amounts falling
due within one year
15
660
Net Current assets/(liabilities)
17,609
CREDITORS: amounts falling due
after more than one year
16
7,500
NET CURRENT ASSETS:
115,109
FUNDS
Unrestricted funds
115,109
TOTAL FUNDS
17
115,109
Statement of Financial Position
31-Mar-21		 2020
£
£
105,000
10,478
5,247
15,725
703
15,022
0
120,022
120,022
120,022		 2020
£
£
105,000
10,478
5,247
15,725
703
15,022
0
120,022
120,022
120,022
0
120,022
120,022
120,022

The Charitable company is entitled to exemption from audit under section 477 of Companies Act 2006 for the year ended 31 March 2021.

The trustees have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with section 476 of Companies Act 2006.

The trustees acknowledge their responsibilities for

Approved by the board of Trustees on: And signed on their behalf by:

10 April 2022

Mr Y M Rand Trustee

Mrs R Rand Trustee

The Notes form part of these financial statements

Page 5

BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021

1 GENERAL INFORMATION

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 95 Osbaldeston Road, London, N16 6NP.

2 STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3 ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going Concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows:

(i) Property valuation

The valuation of the company's investment property portfolio is inherently subjective, depending on many factors including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions. Therefore the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.

(ii) Trade and other debtors

The trustees use details of the age of trade debtors and the status of any disputes together with external evidence of the credit status of the counterparty in making judgements concerning any need to impair the carrying values.

Page 6

BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021

3 ACCOUNTING POLICIES (continued)

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming Resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Page 7

BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021

3 ACCOUNTING POLICIES (continued)

Investment properties

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.

Subsequent to initial recognition -

(i) Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in the income and expenditure account in the period that they arise; and

(ii) No depreciation is provided in respect of investment properties applying the fair value model.

Investment property fair value is determined by the trustees based on professional valuations, their understanding of property market conditions and the specific properties concerned using a sales valuation approach, derived form recent comparable transactions on the market, adjusted by applying discounts to reflect status of occupation and condition.

Acquisitions and disposals of properties

Acquisitions and disposals of properties are considered to take place ate the legal completion and are included in the financial statements accordingly.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4 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

Page 8

BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021

5 INVESTMENT INCOME

5
INVESTMENT INCOME
Unrestricted
Total Funds
Unrestricted Total Funds
Funds
2021
Funds
2020
£
£
£
£
Income for UK investment properties
33,117
33,117
28,742
28,742
6
INVESTMENT MANAGEMENT COSTS
Unrestricted
Total Funds
Unrestricted Total Funds
Funds
2021
Funds
2020
£
£
£
£
Other investment management costs
29,352
29,352
4,187
4,187
7
EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE
Unrestricted
Total Funds
Unrestricted Total Funds
Funds
2021
Funds
2020
£
£
£
Donations paid
8,000
8,000
24,000
24,000
Support costs
660
660
703
703
8,660
8,660
24,703
24,703
8
EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
Grant funding
Total Funds Total Funds
of activities Support costs
2021
2020
£
£
£
£
Donations paid
8,000
660
8,660
24,703
9
ANALYSIS OF SUPPORT COSTS
Total
Total
Support costs
2021
2020
£
£
£
Governance cost
660
660
703
660
660
703
10 ANALYSIS OF GRANTS
2021
2020
Grants to institutions
£
£
Kollel Rabinow
4,000
12,000
Mesifta Talmudical College
4,000
12,000
8,000
24,000
Total Grants
8,000
24,000
11 GOVERNANCE COSTS
2021
2020
£
£
Accountancy
660
703
Bank interest paid
18
678
703		 Unrestricted
Total Funds
Unrestricted Total Funds
Funds
2021
Funds
2020
£
£
£
£
33,117
33,117
28,742
28,742
Unrestricted
Total Funds
Unrestricted Total Funds
Funds
2021
Funds
2020
£
£
£
£
29,352
29,352
4,187
4,187
Total
Support costs
2021
£
£
660
660		 Total
2020
£
703
660
660		 703
2021
£
4,000
4,000
8,000
8,000
2021
£
660
18
678		 2020
£
12,000
12,000
24,000
24,000
2020
£
703
703

Page 9

BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 March 2021

12 TRUSTEE REMUNERATION AND EXPENSES

No salaries or wages have been paid to employees, including the trustees, during the year. The charity did not meet any individual expenses incurred by the trustees for services provided to the charity.

13 TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Cost
At 1 April 2020 and 31 March 2021
Depreciation
At 1 April 2020 and 31 March 2021
Carrying amount
At 31 March 2021		 Land and
buildings
£
105,000
-
105,000

The investments properties are stated at Governors (Trustees) valuation at 31 March 2021.

The historical cost of the Company`s investment properties at 31 March 2021 was £30,261

14 DEBTORS
DEBTORS
Trade debtors
Prepayment and accrued income
Agent Control - JS Estates		 2021
£
3,440
92
13,030
16,562		 2020
£
3,440
92
6,946
10,478

15 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

15
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Accruals
660
660
15
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Bank loan
7,500
7,500		 2020
£
703
703
2020
£
0
0

Page 10

BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 March 2021

7 MOVEMENTS IN FUNDS

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.4.2020 Net movement
in funds
£
£
120,022
-4,913
120,022
-4,913		 At 31.03.2021
£
115,109
115,109

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
Resources
resources
expended
£
£
33,117
38,030
33,117
38,030		 Movement in
funds
£
-4,913
-4,913

Page 11