Company Reglstratlon Number: 1338655 Charlty Number: 287990 BRAVETREE LIMITED Company Limited by Guarantee Unaudited Financial Statements For the year ended 31 March 2023
BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 CONTENTS PAGE Trustees and professional advisers Trustees Annual Report 24 Statement of financial activities Statement of Financial Position Notes to the financial statements
BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES AND PROFESSIONAL ADVISERS Reglstered charlty name Brav8tree Limrf(ed Charlty number 287990 Company number 1338655 PrlnGlpal offlce 95 Osbaldeston Road London N16 6NP Trusteea MrYMRand Mrs R Rand Company Secretary Mrs R Rand Banker4 Bar¢lays
BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2023 The trustee, who are also ihe Directors for ihe purpose of company law. present their reTX)rt and the unaudited financial slaiements of the charity for the year ended 31 Mar¢h 2023. REFERENCE AND ADMINISTIL4TIVE DETAILS Reference and administrdiive detai15 are shown in the schedule of trustees and professional advisers on page l of the financial statements. STRUCTURE, GOVERNANCE AND MANACEMENT The charity is constituted as a company limited by guarantee. and is therefore govemed by its Mcmorandum and Articles of Association. The governors {trustees) administer the day - lo- day affairs of the charity. None of ihe trustees have any beneficial interesi in Ihe charity. It is not ¢urrenily the int¢ntion of the trustees of the charity io appoint new Iruslees. Should the situation change in the future, the trustees will apply suitable recruiiment training and induciion procedtsres. ORJECTIVES AND ACTIVITIES The ¢hariiy us established to further those purposes both in the United Kingdom and abroad recognised as charitable by English Law and in furtherdn¢e of the aforementioned objects. The Charity Teceives income mainly from its property invesiment5, which il ulilises in the provision and distribution of grants and donations. The charity's principle activity ihroug?hout the year was the provision and distribution of donations and ¥rantS to organisations, and no change is envisaged in the imm¢diate future. The trustees confirni that they have referred to the guidance contained in the Charity Commission s general guidance on public benefit wh¢n reviewing the charity's aims and objectives and in planning future activities and s¢lting ihe grant making policy for the y¢ar. STRATEGIC REPORT The following sections for achi¢vemenis and p¢rfomian¢e and finarkcial review from the strategic report of th¢ charity. ACHIEVEMENTS AND PERFORMANCE During the year the company continued io pursue its philanthropic objects in support of educational, religious And other ¢haritable organisation5. Income from investment5 aggregated £34,600. Total resour¢es expended were £29,168 resuliing in net surplus of £5,432.
BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT {continued) YEAR ENDED 31 MARCH 2023 FINAIYCIAL REVIEW The financial results of the charity's activities for the year to 31 March 2023 are fully reflecled 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 fe reserves of Ihe 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 nexl year. At 31 March 2023 the charity had unresiricted funds aggregating £126.331 As at 31 March 2023. the charity has free reserves of £21,331. GRANT MAKING POLICY Grants are made to charitable institutions and organisations which accord with ihe objects of ihe charity. The trustees are approached for donalions by a wide variety of charitable institutions operating all over England. The trustees consider all requests which they receive and make donations based on ihe level of funds available. RISK MANAGEMENT The trustees have examined the major strategic, business and operational risks which the charity faces and confimi that system5 have been estsblished to enable gUlar 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 SUPFKIrt in forni of grants and donaiions to educational, religious and other charitable organisation Signed on behalf of the trustees Mrs R Rand Charity Secretory 2011212023
BFiAVETREE LIMITED COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2023 Unreslricled Total Funds Funds 2023 2022 Notes INCOMING RESOURCES Incoming resources from generated funds Investment Income Total Incoming resources 34,600 34,600 34.600 34,61)0 33,41 S 33,415 RESOURCES EXPENDED Costs of chlritable 8ctlvitSes Investment management costs Expenditure on charitable a1vitIeS Govemance Cost 4,203 24,103 862 4.203 24,103 22,730 31 11 Total resources exp8nded 29,168 29.168 27,625 NET INCOMINGIIOUTGOINGI RESOURCES 5,432 5,432 5,7 RECONCIUATION OF FUNDS Total funds brought forward 120,899 120,899 115,109 TOTAL FUNDS CARRIED FORWARD 126.331 126,331 120,899 The Notes fomi part of the financial statements Page 4
BRAVETrEE LIMITED COMPANY UMITED BY GUARIJ4TEE Stalerrnl of FinwKial Position 31-Mar-23 2023 2022 FIXED ASSETS T8ngit4e fix•d assets 13 105,000 105.( CURRENT ASSETS.. Debtors Cash 8t bank In haThJ 14 20,245 4,225 24,470 27.883 CREDtTORS". amounts IlIng du• within on• y•ar 15 N•t Curr•nt ametsllllablllllm) CREDITORS: amounts falllng du• ltsr morè than on• y•ar 16 5.753 7,251 NET CURRENT SSErs: 120,899 FUNOS Unr6stri¢ted fuThJs 120.893 TOTAL FUNDS 17 128.331 120,899 The Charitatrkn company 1$ entit to exemrthi from wdit urthr secti 477 of Compani•8 Act 2006 lor the Or ended 31 Marth 2023. The trustee$ hove Th)t re{wi the crryorry to obtain an of il¥ flngroal staten8 the year entJe¢J 31 Morch 2023 in th tion 476 of Compan1&8 Act 2(. The Iru$le•s 4ckrKMf1oe Iheir re4h)rritxliI for al ensuring that the charitsb company k•ep8 a0)nting r$ Ihèt c1jm wrth Se(on 386 and 387 of the CompanE5 Act 2C(6 and b) preparing financsal statements whth give a lair ¥1 of the 81at• of affairs of th• thitable company as at th¢ end of finala1 r and ol its Surplus crf d•f¢rt for each fin8ncial year in accordance with the requirements ol Sartion 394 and 395 and which oth8wse wnply with all the requirements of the Companies Ad 2(Th relath"rJ to finwcla #ataments, so f a5 app1Kab to the charitable company. Appro¥gd by the bo¥d of TnJ8tees on.. And $4ned on irbe by.. Mr Tru$iee Mrs R Raryj Twstee Pag• 5
AVETREE LIMITED COMPANY LIMITEO BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS for th8 year ended 31 March 2023 1 GENERAL INFORMATION The charty 1$ 8 pnvate CoMnY limrted by guai•ntee, reglerad In England and Waks and registered charty in England and Wakrys. adOre81 of the rngbtered offlce k% 95 OsbabJe$lon Road. London. N18 6NP. 2 STATEMEPIT OF COMPLIANCE Thase fina81 $talemenls ha¥8 been prepared in cornplrdnc•with FRS 102, The Financkql Reporting Standard applicabb in the UK and th? Republi of Irglan¢', the Slalemtsni of Recommended Praclic 8ppli¢abkry lo chanlie$ prepariry their a¢count5 in accordanc6 Wrth the Fin8nrJal Reporting Sl8ndard applicab in the UK and RgpuNlc of If8j IFRS 1021 Icharrtkii SORP IFRS 10211 and tho Ch•rkN•i Act 2011. 3 ACCOUNTING POLICIES B•sl• of prwrntlon Tho financial sl•i•ments have been prepared on tho AlOrE•l co81 ba818, as modffjd by th• valualion ol Cerfain fin8n¢ial ¥$8818 and IrJbilrfkns and Inve$imenl yopertias measured al fair v8lue Ihiough Incom• or •yndrtur•. nn¥n¢til slatsm•nts ar• pr•par•d kn iterting, which 1$ th• iun¢lk)n•l ¢Ufr•ncy of th• onw. Golr4J Contorn Thera ow no mala01 nrtaInl$ about th• chartyi ablty to ¢Mtlnu•. Judy•m•nts and k•y •our¢o• of 08tlmatlon un¢•rtlnty Judgém•nlè mado by Iho directors in the 8ppIIc0tion of thase 8¢¢aunling polic$ thil hav• qnrficanl effect on thè financ1 $lal•rnenl$ and tttiMat ¥vilh a ionrfrcanl rilk ol mAiarl•l odlu$lm•nt in th• ne yegr ar• •$ follo.. 111 PraFwty v•luatle¢) Th• valuatkn of the ctAnpBnY$ inv•ItnI property portfollo Inh•r•ntty 8u¥•ctw•, dIF•Ing on mony facters Induding Indwidual nalur• of •ach proporty,111 localion •nd •¥p8cted fkrture nel rontal value$, mirkel yk1$ and compor•bkn market tr8nu¢tth8. Therefore valualior ¥re iubiocl lo • degroo of uncrtalnty and •re mlde on Ihe basis Olassumpts which rnoy not prove lo be 8ccur8t8, rtul8 in p•riod$ of dfficul markèt or onC conditions. (Wl Trnd• And olh•r d•btor8 I ne Iruiimi uae 0gi•ird 01 rne oge traae aeDwr• ana I[ or •ny aispurei 10o•inorwrn external eV6cO of the ¢r•dit status of lh• counteOrty in maklngludoements concomlng any need lo impair thè caFryitYJ values. P•w6
BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCLAL STATEMENTS for the year ended 31 March 2023 3 ACCOUNTING POLICIES {continuedl Fund accountlng Unreslricled funds are available for use at the diSCtion of the trustees to lurther any of the harws purposes. Designated lunds are unrestricted funds eamarked by th8 trustees for particular futu project or commrtment. Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an app8al, and f811 into one of two $ub<lasses'. reslricled income funds or endowment funds. Incoming Resources All income is included in the statement of financial aetivi(ies when enti(lement has passed to the charty, r( is probable that the economic benefits associated with the Iransaetion will flow lo the charity and the amount can be reliably measured. The follow¢ng Specif polieies are applied lo particuLai categories of income.. - income from donations or grants is recognised when there 18 eviden of entrtlemenl lo the grft, receipt is probable and rt$ amount can be measured reliably. Resources expended Expenditure is recognised on an aecruals basis as a liabilty is incUrd. Expen¢Jiture ineludes any VAT which cannot be fully recovered, and is classrfied under headings of the statement of financial tIVitIeS to whh it relates.. - expendrture on charf(abte ¥livilies includes all costs incurred by a charity in undertaking All eosls are alb¢ated lo expendf(ure c*egories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly lo that activity. Shared costs are apportioned beeen the aclimties they contribute to on 8 reasonable, justrfiable and consistent basis. Page 7
BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023 3 ACCOUNTING POLICIES Icontinuedl Investment properties Investment properb'es are properties which are held either lo eam rental income or for capf(al appreciation or for both. Investment properties are recognised initk8lly al cos1. Subsequent lo inrtial recognilK)n- li} Investment properties whose fair value can be measured relk8bly wrthout undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognisa in the income and expenditure account in the period that they arise., and lill No depreciatn is provided in re$pe¢t of investment properties apptying the fair value model. Investrment propety fair value is delemiined by the trustees based on Professional valuations. their understanding of property market conditions and the specrfic properties Conrned using a sales valL10n approach, derived form recent comparable transactions on the markel, adjusted by applying dIOunts lo reflect status of 0UpatIOn and Condit. Acquisitions and disposals of propertles Acquisrtions and disposals of properties are considered to lake pl&e ate the legal completion and are included in the financial $l*emenls accordingly. Flnanclal Instruments A financial asset or a financial liabilty is recc•Jnised only when the entity Womes a paty to the conlraclual provisions of the in$lrument. Basic financial instruments are Initial recs>Jnised al the amount r1Vable or payable including any reLated transaction eosls, unless the arrangement conslitules a financing transaction. where rt is recognised al the present value of the future payments discounted al a market rale of interest for a similar debt instrum8nl. 4 LIMITED BY GUARANTEE The charty is a Company Limrted by Guarantee and has no share capital. The liabilty of each Member in the event ol wnding up is limited lo £1 Page 8
BRAVETREE LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023 S INVESTMENT INCOME unreStrted Totsl Funds Unre5trict8d Total FurKIs Funds 2023 Funds 2022 Income for UK investrnent propert 6 INVESTMENT MANAGEMEpif COSTS UnrestrK#&l Total Funds UnreStrted Totsl Funds Funds 2023 Funds 2022 Otr investment management costs 7 EXPENDITURE ON CHARITABLE ACTMTIES BY FUND TYPE Unreslrthj Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Donations paKI Support costs 24,000 103 24.103 24.000 103 24,103 22,000 730 22.730 22,000 730 22,730 8 EXPENtXTURE ON CHARITABLE ACTivfTIES BY ACTIVI TYPE Grant funding of 8etNitEs Support costs Total Funds Total Funds 2023 2022 Donati(S paKY 24,0 103 24.103 22.730 9 ANALYSIS OF SUPPORT COSTS Total 2023 Total 2022 SupFLIrt costs Govemance cost 103 103 103 103 730 730 10 ANALYSIS OF GRANTS 2023 2022 Grants to institutions Kollel Rabinow Mesrfta Talmudul College 10,000 14.000 24,000 7,000 15,000 22,000 22,000 Total Grants 11 GOVERNANCE COSTS 2023 2022 countsncy Bank interest paKI 696 166 862 660 31 691
BRAVETREE UMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCiAL STATEMENTS for the year ended 31 March 2023 12 TRUSTEE REMUNERATION AND EXPENSES No salaries or wages have en paid to empk)yees. including the trustees. during the year. The charty dtrJ not meet any indNKlual expense5 irKurred by the trustees for services prowded lo the chaity. 13 TANGIBLE FIXED ASSETS Land arKI buildings Cost Al 1 April 2022 and 31 March 2023 105,000 Dep1311)n At 1 April 2022 and 31 March 2023 Carrying arnnt At 31 March 2023 105,000 The investments properties are statèj al GoNtmcrfs (Trustees) valLWtDn at 31 March 2023. The historical cost of the Compary"s in¥pslment prcperties al 31 March 2023 vras £30,261 14 DEBTORS 2023 2022 Trade debtor5 Prepayment and accrued inethie Agent Control- JS Estates 3,440 92 16,713 20.245 92 19.245 15 CREDITORS: AMouKfs FALLING DUE WITHIN ONE YEAR 2023 2022 Accruals 1,320 1,320 799 15 CREDITORS.. AMOUKTS FALUNG DUE yrHIN ONE YEAR 2023 2022 8ank k)an 5.753 5,753 7,251 7,251 P>Je10
BRAVETREE UMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023 MOVEMENTS IN FUNDS At 1.4.2022 Nel movement in funds At 31.03.2023 Unrestricted funds General fund 120.899 5,432 126,331 TOTAL FUNDS 120.899 5,432 126.331 Net movement in fund5, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unre8trlcted funds General fund 34,600 29,168 5,432 TOTAL FUNI)S 34.600 29,168 5,432 Page 11