COMPANY REGISTRATION NUMBER: 01609299 CHARrrY REGISTRATION NUMBER: 295554 DENCOMMON LIMITED COMPANY LIMITKD BY GUARANTEE UNAUDrrED FINANCIAL STATEMEiYrs 31 MARCH 2024 COHEN ARNOLD Clwtered Accountants New Burlington HOse 1075 Finchlcy Road London NWI I OPU
DENCOMMON LIMtTED COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 PAGES Trnst¢¢s' Annual Report (IncoLTrorating the Direclof s Rq)ort) Independent Examiner's Report to the Trustees Statement of Financial Activities (Including Income and Expenditure Account) Statement of Financial Position Ito3 Notes to the Financial Statements 7t014
DENCOMMON LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEESI ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 MARCH 2024 The trustees, who are also th¢ direetors 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 ADMINISTIL4TIVE DETAILS Registered charity oame Ch8rity registralion number Company registration number 01609299 Principal Olee reEiStered 34 Princes Park Avenue office London NWII OJT D¢ncommon Limited 295554 THE TRUSTEES Mr L H Bondi Mrs H F Bondi Mr S Bondi Mr H Bondi COMPANY SECRETARY Mrs H F Bondi ]NDEPEI¥DELYt EXAMINER B Le1 FCA New Burlington House 1075 Finchley Road London NWII OPU STRUCTURE. GOVERNANCE AND MANAGEMENr The charity is constituted as a company limited by guardntse, and is therefore governed by its Memorandum and Articles of Asso¢iation. The governors (trustees) adniinisler 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 th¢ 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.
DENCOMMON LIMITED COIIqPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (1Tr4CORPORATING THE DIRECTOR'S REPORT) (coNlihMed) YEAR ENDED 31 MARCH 2024 OBJECTIVES AIW ACTIVITIES The charity is established to further those purwses boih in the United tQin8dom and abroad r¢¢ognised as charitable by English Law and in fijrtherance of the aforernentioned objts. The charity receives income mainly from it5 property investments and ¢haritable receipts under gift aid, whi¢h it utilises in the provision and distribution of grdnts and donations. The ehArity's principle activity throughout the y¢8r was the provision and distribution of donations and grants to organisations, no change is envisaged in the immediate future. The trustees cottfirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when revi¢win8 the charitys aims and objectives and in planning future activities and settin8 the grant Tnaking policy for the year. ACHIEVEMENTS AND PERFORMANCE During the year the company continued to pursue its philanthropic objects in support of educational. religious and other charitable organisations and aggregate donations of £69,310 (2023-. £70.700) were paid. FINANCIAL REVIEW The financial results of the Charitys activities for the year to 31 March 2024 are fully reflected in the attached Financial Statements together with the notes thereon. Regerve Pollcy It is the policy of the charity to maintain unrestricted funds, which includethe free reserves ofthe charity, at a level which the trustees think appropriate. after considering th¢ tre commitments of the charity and the likely costs of the charity for the next year. The trLbSte¢s have not und¢rtak¢n any fornial charitable ¢omtnilments and consider that the charity will generate suffici¢nt income from its investment prop¢rti¢s and froTn donations to fund its ongoing a¢tivities. At 31 March 2024 the charity had unrestricted funds aggregating £925.981. Grant Making Policy Grants are made lo charitable institutions and organisations which accord with the objects of the charity- The trnstees are approached for donations by a wide vari¢ty of charitable institutions operating &ll over England. The trnstees consider all requests which they receiv¢ and make donations based on th¢ level of funds availabl¢. Investment Powers and Policy The charity has powers to make investments in accordance with its constitution&l documents. The trustees consider appropriate and judicious investtments which could generate income and capital growth in the tnedium tern) to enable the charity to continuc its charitable activities into the future whilst maintaining free reserves to enable it to cany out its activiti¢s in the immediate lenn.
DENCOMMON LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEESI ANNUAL REPORT ONCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 MARCH 2024 PLAY4S FOR FUTURE PERIODS In deterniining the level of charitable grants and donations that the charity may make, the trustees consid¢r the income available for such PUTpose8 from its investment properti¢5. PRINCIPAL RISKS AND iJNCERTAINTIES Risk Management The trustees plan to continue to make distributions in accordance with their grant making policy and to ensure that an appropriat¢ level of reserves is maintained. The trustees have identified and reviewed the major risks to which the charity is exwsed, in particular ihose relat¢d lo the operations and finance of th¢ charity, and aff satisfied that systems in place to mana¥e those risks. SMALL COMPANY PROVISIONS This report has been prepared in accordance with the provision5 applicable to companies entttled to the small companies exemption. The trustees, annual retK)rt was approved on Ig.0%Cc..%. and signed on behalf of the board of trustees by: MrH Trustee
DENCOMMOIY LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DENCOMMON LIMITED YEAR ENDED 31 MARCH 2024 I report to the trustees on my examination of the financial statements of Dencommon Limited ('the charity,) for the year ended 31 March 2024. RESPONSIBILITIES AND BASIS OF REPORT As the charity's trustees of the c()mpany (and also its directors for the purposes of Company law) you are r¢sponsible forthe preparation ofthe a¢¢ountS In accordance with the requiretllents ofthe Companies Act 2006 ('Ihe 2006 Act.). Having satisfied myself that the OUnt5 of the company are not requitEd to be audited under Part 16 of the 2006 Act and are eligible for ind¢p¢ndent ¢xamination, I report in respect of my examinatiOD of your Charity's accounts as cTled out under section 145 of the Charities Aci 2011 ('the 201 l Act.). In carrying out my examination I have followed the Directions given by the Charity Commission und section 145(5) (b) of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. l ¢onfirni that no matters have Come to my attention in connection with the examination giving me cause to believe.. accounling records were not kept in resp¢ct of the charity as required by section 386 of the 2006 ACL or the financial statements do not accord with those records" or 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 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recomm¢nded Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordan¢e with thc Financial Reportin8 Standard appli¢able in the UK and Republic of Ireland (FRS 102)- I have no concerns and have come rO$S no other matter5 in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. B Leigh FCA Indepdent Examiner New Burlington House 1075 Finchl¢y Road London NWII OPU
DENCOMMON LIMITED COMPANY LIMITED B Y GUARANTEE STATEMENf OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2024 2024 Unrestricted funds Total fund5 Total funds 2023 Note Income endowments Donations and l¢ga¢i¢s Investment income 6,000 118,538 6,0(Kl 118,538 30,000 103,122 Total income 124,538 124038 133.122 Expenditure Expenditure on Taising funds- Investment management costs Expenditure on charitable activities Total expenditure (39.120) (39,120) (54.468) (79,384) (79J84) (80.983) (118,504) (118,504) (135.451) Net gainsl{loss¢s) on investments 193 193 (272) Net illcome/(expenditure) and net movement in funds 6,227 6,227 (2,601) ReconeiliY41ion of funds Total funds brought forward Total funds ¢arried forward 919,754 919,754 922,355 925,981 925,981 919,754 The statement of financial activities include5 all gains and losses recognised in the y¢ar. All income and expenditure derive from continuing activities. All movements wer¢ in Unrestricted Funds. The notes OD pays 7 to 14 form part of th¢$t fiThantiAI ststernents.
DENCOMMON LIMITED COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL POSITION 31 MARCH 2024 2024 2023 Note FIXED ASSETS Tangible fixed assets Investments 16 17 1,075,954 2,006 1.076,068 1,813 1,077.881 1.077,960 CURRENT ASSETS Debtors Cash at bank and in hand 18 17.148 9814 19.171 .497 26.962 20.668 CREDITORS". amounts falling due within one yur NET CURRENT LIABILITIES 19 (178,941) (178.795) (151979) (158,127) TOTAL ASSETS LESS CURRENT LIABILITIES 925,981 919,754 919,754 NET ASSETS 925,981 FUNDS OF THE CHARITY Unrestricted funds 925,981 925,981 919,754 Total charity funds 20 919.754 For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small cofflpanies. Directors, responsibilities= The Tnemb¢rs have not required the company to obtain an audit of its financial statements for the year in question in accordance with se¢tion 476- The directors acknowledge their r¢sponsibilities for complying with the requirements of the Act with re$ct to ac¢ountin8 records and the pr¢pardtion of financial statements. These financial statements hav¢ been prepaffd in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statevnents were approved by the ly)ard of trustees and authorised for issue on Iin£(£tthi...4 and are si on beh&lf of the board by.. Mr H Bondi Trustee The notss on pxge5 7 to 14 forni pArt of thes¢ fin*ne•g1 statemeTrts.
DENCOMMON LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 GENERAL INFORMATION The charity ts a public benefit entity and a private company limited by guarantee, registeJEd in England and Wales and a registered charity in England and Wale5. The address of the registered office is 34 Princes Park Avenue, LA)ndon. NWI I OJT. 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 applicabl¢ lo ¢harities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SOIiP (FRS 102)) and the Companies Act 2006. ACCOUNTING POLICIES Basis of preparation The financial statements have en prepared on the historical cost basis. as modified by the revaluation of ¢¢rtain fancial assets and liabilities and invesÉment properties measured at fair value through income or expenditure. The financial statem¢nts are prepared in sterling, which is the functional currency of the entity. The Charity meets the definition of a public benefit entity under FRS 102. GoiDg concern The financial ststements have been prepared in accordance with the accounting principles appropriate to a going concern, as the trustees have a reasonable expectation that the charity has adequate resources to continue in op¢rational existen¢¢ for the foreseeable future by meeting its liabilities as they fall due, based on suppN)rt from the principal creditor. Judgemettts and key sources of estim&tioD uneertaillty In the application of the chariws accounting policies, the trust¢es are required to make judgements. estimates and assumptions about the Carrying atnounts of assets and liabilities that are not readily apparent from other Sou¢5. These estimates and associated assumptions are based on historical experience and other factors that are considered io be relevant. Actual results may differfrom these ¢stimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estitnates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the r¢vision and future periods if the revision affects both current and future periods. The trustees do not consider ther¢ are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting pjlicies listed below.
DEIYCOMMON LIMITED COMPANY LIMITED BY GUAtL4NfEE NOTES TO THE FINANCIAL STATEMENfs YEAR ENDED 31 MARCH 2024 AcCOuNTG POLICLES Investment Properties Investment properties are properties which are held either to earn rental income or for capitsl appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition - (i) Investment properties are held at fair value. Any gains or losses arising from changes in the fair value are re¢ognised in the income and expenditure account in the period that they arise; and (li) 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 ¢onditions and th¢ specific properties concerned using a sales valuation approach, derived from recent comparable transactions on the markei adjusted by applying discounts to reflect ststus of occupation and condition. Acquisltions and disposab of properties Acquisitions and disposals of properties are considered to take pla¢e at the legal completion and are included in Ihe financial statements accordingly. Trade debtors The trustees use details of the age of trade d¢biors and the ststus of any disputes together with external evidence of the credit status of the counterparty in making judgements ¢on¢ernin8 any need to impair the carrying valu¢s. Taxation The charity is not liable to direct taxation on its income or gains. whether realised or not, as it falls within the various exemplions liable to registered charities. Accordingly, the charity does not recognise any deferred tax liability on property revaluations as no tu would be dv¢ in the event of a disposal as th¢ charity would benefit from the relevant exemptions. as it will apply oll funds for qualifying charitable putposes. Fund accoulltiog General unrestricted fund5 comprise ihe accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the trustees in furtherance of the general obje¢tives of the charity. Restricted funds are fi]nds subjeci to specific restricted condilions Imposed by donors. There are no restricted funds as at the balance sheet date. Designated funds are funds which have been set aside at the discretion of the trustees for specific purposes. There are no designatd funds as at th¢ Balance Sheet date. Ineoming resources All 1cOMe is included in th¢ statement of financial activities when enlitlement has passed to the charity, it is probable that the ¢¢onomic benefits associated with the transaction will flow to the charity and the amount can be reliably tneasured.
DENCOMMON LIMITED COMPANY LIMITED BY GUARANfEE NOTES TO THE FINANCIAL STATEMEIYTS YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES f¢oniillued) Incoming resources (¢oth#edJ Income from donations or grants is recognised when there is evid¢nee of entitlement to the gilL receipt is probable and 115 amount can be measured reliably. Resources expended Exp¢nditure is Charged on an accrual basis and allocated Éo the appropri&te headings in th¢ accounts. The Majority of costs are directly attributable to specific tIvIties. Costs incurred in respecl of the charitable activities include attributable support costs where applicable. Depretiatlon Depreciation is calculated 50 as to write off the cost or valuation of an ass¢L less its residual value. over the useful economic life of that asset as follows: Fixtures & Fittings Investments 200/0 reducing balance Listed investments are measured at fair value with changes in fair value being recognised in inwm¢ or expenditure. Financial instruments A financial ass¢t or a f&nancial liability is recognised only when the entity becoTnes a party lo the contrnctual provisions of the instrum¢nt. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the atTangement constitute5 a financing transaction, where it is recognised at th¢ present value of the future payments discounted at a market rate of interest for a sirttilaT debt instrument. Other financial instrum¢nts are subsequently measured at fair value, with any changes recognised in profit or loss. Debt instruments are subsequently measured at amortised cosl. Financial assets that ar¢ m¢asured at Cost or amort15ed cost are reviewed for objective evidence of impairnient at the end of each reporting dat¢. If there is objective evidence of impairn]ent, an impairnient1055 15 re¢ognis¢d under the appropriate h¢ading in the statetnent of financial activities in which the initial gain was reco8ni5ed. All other financial assets are assessed individually for impairnient. Any reversals of itnpairtnent are recognised immediatelyy to the extent that the reversal does not result in a carying amount of the financial asset that ex¢eeds what the ¢8rying atnount would have been had the impairment not previously been recognised.
DENCOMMON LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (cofftlnmed) YEAR ENDED 31 MARCH 2024 LIMITED BY GUARANTEE The charity is a company limited by guarantee and has no share capital. The liability of ¢h member in the event of winding up is limited to £1. DONATIONS AND LEGACIES Unrestricted Totsl Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 DONATIONS Donations received 6,000 6,0(Kl 30,000 30,000 INVESTMENT INCOME Unrestricted Total Fund$ Unrestrictsd Total Funds Funds 2024 Fund5 2023 Rent and charges receivable 118,538 118J38 103,122 103.122 INVESTMENT MANAGEMENT COSTS Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Investment property management costs 39,120 39,120 54,468 54.468 EXPEI¥DfTURE ON CHARrrABLE AcfIviTIES BY FUND TYPE Unrestricted Totsl FuDds Unrestricted Total Fund5 Funds 2024 Funds 2023 Donations paid Support costs 69,310 10,074 69,31 10,074 70.700 10,283 70.700 10,283 79,384 79J84 80,983 80,983 EXPENDfTURE ON CHARABLE ACTIVITIES BY AcTIvy TYPE Grant funding of activiti¢s Support costs Total funds 2024 Total fund 2023 Donations p&id Governance costs 69.310 69JlO 10,074 70.700 10,283 10.074 10.074 69.310 79J84 80.983 io
DENCOMMOIY LIMITED COMPAIYY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {eontirt4e41 YEAR ENDED 31 MARCH 2024 10. ANALYSIS OF GIL4NTS 2024 2023 GRANTS TO INSTITUTIONS Furth¢rance of education, relief of poverty and advancement of religion Total grants 69,310 69JlO 70,700 70,700 The composition of donations is shown b¢low. Amud Hatzdokoh Trust Achisomoch Aid Company Limited Kolyom Trust Limited Keren H&torah Chevras Mo'oz Ladol One Heart- Lev Echod Yishaya Adler Memorial Fund Friends of Kupat Hakahal Kirhyat Seftr Friends of Gaon Yaakov Ichud Mosdos Gur Limited Colel Polen Kupath Ratnban Limited Sin&i Synagogue Koll¢l Zichron Shaul Institute for Higher Rabbinical Studies Yesamach t£vav l£ss than £l.000 12,6 8,500 8,0110 6,5110 6,180 5,000 3,540 3,050 2,500 2,500 2,000 2,000 iJoo 1,200 I,(0 Total 69,310 11. NET GAllYSI(LOSSES) ON INVESTMENTS Unrestri¢t¢d Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Gainsl(losses) on listed investtnents 193 193 (272) (272) 12. NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargIn(credItig). 2024 2023 Deprecialion of taDgible fixed asset5 114 142
DENCOMMON LIMITED COMPANY LIMITED BY GUARANfEE NOTES TO THE FINANCIAL STATEMEIYTS YEAR ENDED 31 MARCH 2024 13. INDEPENDENT EXAMINATION FEES 2024 2023 Fees payable to the independent examiner for.. Independenl examination of the financial statements 4,320 4,320 Oth¢r professional fees of £300 (2023.. £-) were paid to the independent examiner. 14. EMPLOYEE NUMBERS The avernge head count of employees. including thjstees, during th¢ year was 4 (2023.. 4). No salaries or wages have be¢n paid to employe¢s during the year. 15. 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 th¢ trustees for services provided to the charity. 16. TANGIBLE FIXED ASSETS Freehold Fixtures and properties fittings Totsl Cost At l April 2023 and 31 March 2024 Depreciation At l April 2023 Charge for the year At 31 March 2024 ,075,500 2,911 1,078AII 2,343 114 2J43 114 2,457 2,457 Carrying gmount Ai 31 March 2024 1,075,500 1,075,500 454 1,075,954 At 31 March 2023 568 1,076,068 The historical cost of the properties is £127,710. 12
DENCOMMON LIMITED COMPANY LIMITED BY GUAIL4NTEE NOTES TO THE FINANCIAL STATEMEI¥4TS YEAR ENDED 31 MARCH 2024 17. INVESTMENTS Llsted inveslments Cost or valuatio At l April 2023 Additions Fair value movements 1313 193 At 31 March 2024 2,01)6 Impairnient At l April 2023 and 31 March 2024 Carrying amount At 31 Mareb 2024 2,006 At 31 March 2023 1,813 All investments shown above ar¢ held at valuation. Listed investments Investments ar¢ me&5ured at fair value using quoted market share prices. 18. DEwfoRS 2024 2023 Trade debtors Prepayments and accrued income 17.148 18.414 757 17,148 19,171 19. CREDrroRS: amounts falling due within one year 2024 2023 Trnd¢ creditors Accruals and deferred income Other creditors 20 4,320 174,455 178,795 4J20 174,621 178,941 Included in other creditors are interest free loans of £140,000 due to companies with a director who is a trustee of the charity and £24,138 due to the trustees of the charity. 13
DEIYCOMMON LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENfs (cvntimuerf) YEAR ENDED 31 MARCH 2024 20. ANALYSIS OF CHARITAB1 FUNDS Ullrestrided fullds At l April 2023 At Gains and 31 March losses 2024 Income Expenditure General funds 919,754 124,538 (118,504) 193 925,981 At April 2022 At 31 March 2023 Gains and losses Income Expenditure General funds 922.355 133,122 (135,451) (272) 919.754 21. ANALYSIS OF NET ASSETS BETWEEP4 FUNDS Unrestricted Total Funds Funds 2024 Investtnents Current assets Creditor5 less than l year 1,077,960 1,077,960 26,962 26,962 (178.941) (178,941) 925,981 925,981 Net assets Unrestricted Totsl Funds Funds 2023 Investments Current assets Creditors less ihan l year Net 4S8ets I,077,881 1,077.881 20,668 20.668 (178,795) {178,795) 919,754 919,754 22. RELATED PARTY TRANSACTIONS During the year, donations of £6,000 were received from companieslcharities wtth wmmon dire¢torsltrustees. Donations of £6.500 were paid to charities of which a tntst¢e of this charity is also a trustee. 14