2025-03-31-accounts - Lakechance Limited

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REGISTERED COMPANY NUMBER: 01828545 (England and Wales) REGISTERED CHARITY NUMBER: 291522

LAKECHANCE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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Page
Reference and Administrative Details 1
Report of the Trustees 2 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Cash Flow Statement 7
Notes to the Cash Flow Statement 8
Notes to the Financial Statements 9 to 13
Detailed Statement of Financial Activities 14
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LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025

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TRUSTEES B D Stroh
S B Stroh
Mrs T Stroh
Mrs A C Stroh
REGISTERED OFFICE 357 City Road
London
EC1V 1LR
REGISTERED COMPANY 01828545 (England and Wales)
NUMBER
REGISTERED CHARITY 291522
NUMBER
INDEPENDENT EXAMINER STERN ASSOCIATES
Chartered Accountants
2 Helenslea Avenue
London
NW11 8ND
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LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

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 2025. 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 principal activity of the charity is advancement of religion in accordance with the Orthodox Jewish Faith, the relief of poverty and such other purposes as are recognised by English by the provision of funds and donations.

In order to further its objects, the company makes grants to various charities, mainly those involved in education and the relief of poverty.

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.

Grantmaking

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

STRATEGIC REPORT

Achievements and performance

Charitable activities

The Charity has extended grants totalling £361,580 (2024 - £588,675) from unrestricted funds, to a variety of charitable institutions; a list of these grants is available on request from the trustees at the registered office.

Fundraising activities

The charity was supported by donations from a wholly owned subsidiary Kendleville Ltd, and also received donations from companies that are controlled by the trustees.

Despite the difficult economic climate, the Charity received a total of £269,000 (2024 - £317,460) in donations.

Financial review

Reserves policy

It is the intention of the trustees to distribute the remainder of the unrestricted funds over the short term.

Future plans

No significant changes are planned to the operation of the Charity.

The Trustees intend to continue to extended grants to other charitable institutions in accordance with the objects of the Charity subject to satisfactory incoming resources.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, The Memorandum and Articles of Association of the Company, and constitutes a company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

New trustees are appointed at the recommendation of the board, based on personal competence, specialist skills and their ability to promote the activities of the charity.

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LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

The board of trustees must have at least three Trustees and not more than ten Trustees serving at any one time.

The entire board of trustees meets on a regular basis to discuss and direct the activities of the Charity.

Induction and training of new trustees

New trustees are inducted into the workings of the charity by the current trustees.

Related parties

The charity is supported by donations from a wholly owned subsidiary Kendleville Ltd, as well as a number of companies that are controlled by the trustees.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 20 January 2026 and signed on the board's behalf by:

B D Stroh - Trustee

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LAKECHANCE LIMITED

Independent examiner's report to the trustees of Lakechance Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

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 member of the Institute of Chartered Accountants in England and Wales, 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:

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.

Simon Stern, ACA

STERN ASSOCIATES Chartered Accountants 2 Helenslea Avenue London NW11 8ND

20 January 2026

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LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 269,000 Investment income 3 12,310 Total 281,310 EXPENDITURE ON Charitable activities 4 Grants to Charities 361,580 Other 13,084 Total 374,664 NET INCOME/(EXPENDITURE) (93,354) RECONCILIATION OF FUNDS Total funds brought forward 352,434 TOTAL FUNDS CARRIED FORWARD 259,080	Restricted fund £ - - - - - - - 322,000 322,000	31.3.25 Total funds £ 269,000 12,310 281,310 361,580 13,084 374,664 (93,354) 674,434 581,080	31.3.24 Total funds £ 317,460 12,889 330,349 588,675 2,746 591,421 (261,072) 935,506 674,434

The notes form part of these financial statements

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LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET 31 MARCH 2025

Notes FIXED ASSETS Investments 8 CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS	31.3.25 £ 100 187,520 394,780 582,300 (1,320) 580,980 581,080 581,080 259,080 322,000 581,080	31.3.24 £ 100 190,311 485,473 675,784 (1,450) 674,334 674,434 674,434 352,434 322,000 674,434

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

The financial statements were approved by the Board of Trustees and authorised for issue on 20 January 2026 and were signed on its behalf by:

B D Stroh - Trustee

The notes form part of these financial statements

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LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Notes Cash flows from operating activities Cash generated from operations 1 Net cash used in operating activities Cash flows from investing activities Interest received Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	31.3.25 £ (103,003) (103,003) 12,310 12,310 (90,693) 485,473 394,780	31.3.24 £ (282,302) (282,302) 12,889 12,889 (269,413) 754,886 485,473

The notes form part of these financial statements

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LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for: Interest received Interest received from subsidiary Decrease in debtors Decrease in creditors Net cash used in operations	31.3.25 £ (93,354) (12,310) (7,209) 10,000 (130) (103,003)	31.3.24 £ (261,072) (12,889) (6,931) - (1,410) (282,302)

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash Cash at bank	At 1.4.24 Cash flow At 31.3.25 £ £ £ 485,473 (90,693) 394,780
	485,473 (90,693) 394,780
Total	485,473 (90,693) 394,780

The notes form part of these financial statements

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LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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.

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.

Allocation and apportionment of costs

Trustees have allocated the support costs directly to the activity which they relate to.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

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2. DONATIONS AND LEGACIES
31.3.25 31.3.24
£ £
Donations 269,000 317,460
3. INVESTMENT INCOME
31.3.25 31.3.24
£ £
Interest receivable 12,310 12,889
4. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(see note
5)
£
Grants to Charities 361,580
5. GRANTS PAYABLE
31.3.25 31.3.24
£ £
Grants to Charities 361,580 588,675
6. SUPPORT COSTS
Governance
Management Finance costs Totals
£ £ £ £
Other resources expended 250 11,394 1,440 13,084
Support costs, included in the above, are as follows:
31.3.25 31.3.24
Other
resources Total
expended activities
£ £
Sundries 250 250
Bank charges 298 535
Foreign exchange losses 1,096 761
Bad debts 10,000 -
Accountancy and legal fees 1,440 1,200
13,084 2,746
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LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

8. FIXED ASSET INVESTMENTS

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||| |---|---| |Shares in| |group| |undertakings| |£| |MARKET VALUE| |At 1 April 2024 and 31 March 2025|100| |NET BOOK VALUE| |At 31 March 2025|100| |At 31 March 2024|100|

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There were no investment assets outside the UK.

The original cost of the investments was £100 (2024 - £100).

The company's investments at the balance sheet date in the share capital of companies include the following:

Kendleville Limited

Registered office: Nature of business: property trading

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|||| |---|---|---| |%| |Class of share:|holding| |Ordinary|100| |31.3.25|31.3.24| |£|£| |Aggregate capital and reserves|369,105|358,132| |Profit/(loss) for the year|11,042|(11,396)|

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The above figures are stated after charitable donations of £226,000 (2024 - £257,000) to Lakechance Limited

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continued...

LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

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9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£ £
Amounts owed by subsidiary 187,420 180,211
Other debtors 100 10,100
187,520 190,311
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£ £
Other creditors - 250
Accrued expenses 1,320 1,200
1,320 1,450
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.3.25 31.3.24
Unrestricted Restricted Total Total
fund fund funds funds
£ £ £ £
Investments 100 - 100 100
Current assets 260,300 322,000 582,300 675,784
Current liabilities (1,320) - (1,320) (1,450)
259,080 322,000 581,080 674,434
12. MOVEMENT IN FUNDS
Net
movement At
At 1.4.24 in funds 31.3.25
£ £ £
Unrestricted funds
General fund 352,434 (93,354) 259,080
Restricted funds
-
Expendable Endowents 322,000 322,000
TOTAL FUNDS 674,434 (93,354) 581,080
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 281,310 (374,664) (93,354)
TOTAL FUNDS 281,310 (374,664) (93,354)
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LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

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||||| |---|---|---|---| |Net| |movement|At| |At 1.4.23|in funds|31.3.24| |£|£|£| |Unrestricted funds| |General fund|613,506|(261,072)|352,434| |Restricted funds| |-| |Expendable Endowents|322,000|322,000| |TOTAL FUNDS|935,506|(261,072)|674,434|

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Comparative net movement in funds, included in the above are as follows:

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||||| |---|---|---|---| |Incoming|Resources|Movement| |resources|expended|in funds| |£|£|£| |Unrestricted funds| |General fund|330,349|(591,421)|(261,072)| |TOTAL FUNDS|330,349|(591,421)|(261,072)|

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13. RELATED PARTY DISCLOSURES

Included in the financial statements are the following transactions with Kendleville Limited a wholly owned subsidiary:

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31.3.25 31.3.24
£ £
Donations received 226,000 257,000
Interest received 6,209 6,931
Balance due from subsidiary 187,420 180,211
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The balance due from the subsidiary represents an unsecured loan, repayable on demand, bearing interest at 4% p.a.

Included in the financial statements are the following transactions with the trustees, companies controlled by the trustees and charities of which they are also trustees:

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|||| |---|---|---| |31.3.25|31.3.24| |£|£| |Donations received|-|317,000| |Other debtors|100|100|

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LAKECHANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Interest receivable Total incoming resources EXPENDITURE Charitable activities Grants to institutions Support costs Management Sundries Finance Bank charges Foreign exchange losses Bad debts Governance costs Accountancy and legal fees Total resources expended Net expenditure	31.3.25 £ 269,000 12,310 281,310 361,580 250 298 1,096 10,000 11,394 1,440 374,664 (93,354)	31.3.24 £ 317,460 12,889 330,349 588,675 250 535 761 - 1,296 1,200 591,421 (261,072)

This page does not form part of the statutory financial statements

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