COMPANY REGISTRATION NUMBER: 01899297 CHARITY REGISTRATION NUMBER: 292282
WESTLEAGUE LIMITED
Company Limited by Guarantee
UNAUDITED FINANCIAL STATEMENTS
31 MARCH 2024
COHEN ARNOLD Chartered accountants New Burlington House 1075 Finchley Road LONDON NW11 0PU
WESTLEAGUE LIMITED
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
| PAGE | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities (including income and expenditure | |
| account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
WESTLEAGUE LIMITED COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
YEAR ENDED 31 MARCH 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name Westleague Limited Charity registration number 292282 Company registration number 01899297 Principal office 10 Newton Place Glasgow G3 7PR Registered office New Burlington House 1075 Finchley Road London NW11 0PU THE TRUSTEES
Mr A N Berkley Mrs N J Berkley Mr A R Berkley Ms K A Berkley COMPANY SECRETARY Mr A N Berkley INDEPENDENT EXAMINER Dov Harris FCA New Burlington House 1075 Finchley Road LONDON NW11 0PU
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 is established to further both in the United Kingdom and abroad those purposes recognised as charitable by English Law. To achieve these objects, the charity utilises its income to make grants and donations.
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Docusign Envelope ID.. 8EA73DOA-F60&4FAA-8142-F92D9F318D5D WESTLEAGUE LIMITED COMPANY LIMITED BY GUAIL4NTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) {coittinued) YEAR ENDED 31 MARCH 2024 ACHIEVEMENTS AND PERFORMANCE During thc year thc charity continued to pursuc its philanthropic objccls in support of cdiicational, religious and other charitable organisations which is in accordance with the guidance of the Charity Commission relating to Public Benefit. FINANCIAL REVIEW Net incoining resources aggregated £41,455. Total resources expended were £153,888 resulting iii net outgoing re50uices of £112,295. As at 31 March 2024 the charity had Unrestricted Funds of £2,581,061 (2023.. £2,693,355). SMALL COMPANY PROVISIONS This report has been prepared in accordance with the provisions applicable to companies entitled to the small companics cxemption. Thc trustecs, annual report was approved on 29 October 2024 and signcd on bchalf of the board of trustees by: C95W>53AE8C479 Mr A N Berkley Trustee
WESTLEAGUE LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WESTLEAGUE LIMITED
YEAR ENDED 31 MARCH 2024
I report to the trustees on my examination of the financial statements of Westleague Limited ('the charity') for the year ended 31 March 2024.
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 Charities and Trustee Investment (Scotland) Act 2005 (‘the 2005 Act’), the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.
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 carried out under section 44(1)(c) of the 2005 Act and section 145 of the Charities Act 2011 (‘the 2011 Act’) . In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
Since the charity is required by company law to prepare its accounts on an accruals basis and is registered as a charity in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I can confirm that I am qualified to undertake the examination because I am a registered member of the Institute of Chartered Accountants in England and Wales (ICAEW) 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:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act, section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; or
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the financial statements do not accord with those records or with the accounting requirements of Regulation 8 of the Charities Accounts (Scotland) Regulations 2006; or
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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
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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).
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LIMtTED(Lnrfwie YEAR ENDED 31 MARCH202A I have no con¢¢rns and have come across no oth¢r matters in connection with the examination to which attention should be drawn in this report in order ¢0 ¢nable a proper understanding of the accounts lo be reached. Dov Hall5 FCA Independent Examiner New Burlington House 1075 Finchley Road LONDON NWI I OPU Zg crr(w 20L
WESTLEAGUE LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MARCH 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | – | – | 445,058 |
| Investment income | 6 | 41,455 | 41,455 | 19,500 |
| ------------------------------- | ------------------------------- | ------------------------------------- | ||
| Total income | 41,455 | 41,455 | 464,558 | |
| =============================== | =============================== | ===================================== | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Investment management costs | 7 | 138 | 138 | – |
| Expenditure on charitable activities | 8,9 | (153,888) | (153,888) | (122,157) |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ||
| Total expenditure | (153,750) | (153,750) | (122,157) | |
| ===================================== | ===================================== | ===================================== | ||
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ||
| Net (expenditure)/income and net movement in funds | (112,295) | (112,295) | 342,401 | |
| ===================================== | ===================================== | ===================================== | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 2,693,356 | 2,693,356 | 2,350,954 | |
| ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ||
| Total funds carried forward | 2,581,061 | 2,581,061 | 2,693,355 | |
| =============================================== | =============================================== | =============================================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 13 form part of these financial statements.
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Docusign Envelope ID.. 8EA73DOA-F60&4FAA-B142-F92D9F318D5D WESTLEAGUE LIMITED COMPANY LIMITED BY GUAIL4NTEE STATEMENT OF FINANCIAL POSITION 31 MARCH 2024 2024 2023 Note FIXED ASSETS Tdn¥ible fixed assets Jnvestments 12 13 280,000 1,450,000 1,730,000 280.000 1,500,000 1,780,000 CURRENT ASSETS D¢btor5 Cash at bank and in hand 14 1,409 921,916 864,017 864,017 923,325 CREDITORS: amounts falling due Ii'ithin one )'ear 15 (12,956) (9,970) NET CURRENT ASSETS 851,061 913,355 TOTAL ASSL'fs LESS CURRENT LIABILITIES 2,581,061 2,693,355 NET ASSETS 2,581,061 2,693,355 FUTr4DS OF THE CHARITY Unrestricted funds 2,581,061 2,581,061 2,693.355 Total eharity funds 16 2,693,355 For thc ycar cnding 31 March 2024 thc charity was cntitlcd to cxcmption from audit undcr scction 477 of the Companies Act 2(X)6 rclatislg to Small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statements for the y¢ar in question in accordance with section 476; The directors acknowledge their responsibilities for complying with the requirements of the Act with respcct to accounting records ]d Ihc prcparalion of financial statcmcnts. These financial statements have been prepared in accordance with the provisions applieable to companies subject to the small companies, regime. These tinancial statsments were approved by the board of trustees and authorised for issue on 29 October 2024, and are signed on behalf'ol'the board by.. C9SD9053AE8C479 Mr A N Berkley Trustee The notes pages 7 to 13 (orm part of these flnanclal statemenrs.
WESTLEAGUE LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England, Wales and Scotland. The address of the registered office is New Burlington House, 1075 Finchley Road, London, NW11 0PU.
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 Companies Act 2006.
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 measured at fair value through income or expenditure.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
In the application of the charity's accounting policies, the Trustees are required to make judgements, 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 judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
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.
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WESTLEAGUE LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2024
3. ACCOUNTING POLICIES (continued)
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.
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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.
Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Investments
Unlisted equity investments are initially recorded at cost and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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WESTLEAGUE LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2024
3. ACCOUNTING POLICIES (continued)
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.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
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.
5. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| DONATIONS | ||||
| Donations | – | – | 445,058 | 445,058 |
| ================ | ================ | ===================================== | ===================================== | |
| NVESTMENT INCOME | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Income from investment properties | 19,500 | 19,500 | 19,500 | 19,500 |
| Income from cash investments | 21,955 | 21,955 | – | – |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | |
| 41,455 | 41,455 | 19,500 | 19,500 | |
| =============================== | =============================== | =============================== | =============================== |
DONATIONS
6. INVESTMENT INCOME
7. INVESTMENT MANAGEMENT COSTS
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Bank Charges | (138) | (138) |
– | – |
| ================ | ================ | ================ | ================ |
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WESTLEAGUE LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2024
8. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Grants payable | 149,377 | 149,377 | 121,215 | 121,215 |
| Support costs | 4,511 | 4,511 | 942 | 942 |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------------- | |
| 153,888 | 153,888 | 122,157 | 122,157 | |
| ===================================== | ===================================== | ===================================== | ===================================== |
9. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Grant | ||||
|---|---|---|---|---|
| funding of | Total funds | Total fund | ||
| activities | Support costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Grants payable | 149,377 | – |
149,377 | 121,215 |
| Governance costs | – | 4,511 |
4,511 | 942 |
| ------------------------------------- | -------------------------- | ------------------------------------- | ------------------------------------- | |
| 149,377 | 4,511 |
153,888 | 122,157 | |
| ===================================== | ========================== | ===================================== | ===================================== |
All grants were paid to institutions in support of the relief of poverty, the advancement of health, the advancement of Jewish religion and the advancement of education.
Included in the charitable activities are the following material grants made during the year:
| 2024 | ||
|---|---|---|
| £ | ||
| World Jewish Relief | 12,250 | |
| United Jewish Israel Appeal | 10,000 | |
| Chai Lifeline | 10,000 | |
| Magen David Adom | 10,000 | |
| United Hatzalah | 10,000 | |
| Other donations individually and aggregately less than £5,000 | 97,127 | |
| ------------------------------------- | ||
| Total | 149,377 | |
| ===================================== | ||
| INDEPENDENT EXAMINATION FEES | ||
| 2024 | 2023 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,500 ========================== |
1,500 ========================== |
10. INDEPENDENT EXAMINATION FEES
11. TRUSTEE REMUNERATION AND EXPENSES
No salaries or wages have been paid to the trustees for services provided to the charity.
The charity did not meet any individual expenses incurred by the trustees for services provided to the charity.
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WESTLEAGUE LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2024
12. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |||
|---|---|---|---|
| Land and | |||
| buildings | |||
| £ | |||
| Cost | |||
| At 1 April 2023 and 31 March 2024 | 280,000 | ||
| ===================================== | |||
| Depreciation | |||
| At 1 April 2023 and 31 March 2024 | – | ||
| ===================================== | |||
| Carrying amount | |||
| At 31 March 2024 | 280,000 | ||
| ===================================== | |||
| At 31 March 2023 | 280,000 | ||
| ===================================== | |||
| INVESTMENTS | |||
| Cash or cash | Other | ||
| equivalents | investments | Total | |
| £ | £ | £ | |
| Cost or valuation | |||
| At 1 April 2023 | 500,000 | 1,000,000 | 1,500,000 |
| Additions | – | – | – |
| Other movements | (50,000) | – | (50,000) |
| ------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | |
| At 31 March 2024 | 450,000 | 1,000,000 | 1,450,000 |
| ===================================== | =============================================== | =============================================== | |
| Impairment | |||
| At 1 April 2023 and 31 March 2024 | – | – | |
| =============================================== | =============================================== | ||
| Carrying amount | |||
| At 31 March 2024 | 450,000 | 1,000,000 | 1,450,000 |
| ===================================== | =============================================== | =============================================== | |
| At 31 March 2023 | 500,000 | 1,000,000 | 1,500,000 |
| ===================================== | =============================================== | =============================================== |
13. INVESTMENTS
All investments shown above are held at valuation.
The fair value at 31 March 2024 of the investments is based on the underlying value of assets less liabilities.
The Company holds 3,900 ordinary shares (21.66%) in Methcroft Ltd, an unquoted Company. The historic cost of the investment is £3,900 (2023: £3,900).
14. DEBTORS
| DEBTORS | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Trade debtors | – | 1,409 |
| ================ | ========================== |
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WESTLEAGUE LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2024
15. CREDITORS: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 1,500 | 1,500 |
| Other creditors | 11,456 | 8,470 |
| ------------------------------- | -------------------------- | |
| 12,956 | 9,970 | |
| =============================== | ========================== |
16. ANALYSIS OF CHARITABLE FUNDS
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 April | 31 March | |||
| 2023 | Income | Expenditure | 2024 | |
| £ | £ | £ | £ | |
| General funds | 2,693,356 | 41,455 | (153,750) | 2,581,061 |
| =============================================== | =============================== | ===================================== | =============================================== | |
| At | At | |||
| 1 April | 31 March | |||
| 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| General funds | 2,350,954 | 464,558 | (122,157) | 2,693,355 |
| =============================================== | ===================================== | ===================================== | =============================================== | |
| ANALYSIS OF NET ASSETS | BETWEEN FUNDS | |||
| Unrestricted | Total Funds | |||
| Funds | 2024 | |||
| £ | £ | |||
| Tangible fixed assets | 280,000 | 280,000 | ||
| Investments | 1,450,000 | 1,450,000 | ||
| Current assets | 864,017 | 864,017 | ||
| Creditors less than 1 year | (12,956) | (12,956) |
||
| ----------------------------------------------- | ----------------------------------------------- | |||
| Net assets | 2,581,061 | 2,581,061 | ||
| =============================================== | =============================================== | |||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Tangible fixed assets | 280,000 | 280,000 | ||
| Investments | 1,500,000 | 1,500,000 | ||
| Current assets | 923,325 | 923,325 | ||
| Creditors less than 1 year | (9,970) | (9,970) |
||
| ----------------------------------------------- | ----------------------------------------------- | |||
| Net assets | 2,693,355 | 2,693,355 | ||
| =============================================== | =============================================== |
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
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WESTLEAGUE LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2024
18. RELATED PARTIES
Donations received of £– (2023: £445,058) were from companies which have directors in common with the trustees of the charity.
Included in other creditors is an amount of £9,956 (2023: £8,470) due to a company connected with the directors and shareholders. The amount is interest-free and repayable on demand.
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