REGIsfERED COMPANY NUMBER: 00750459 (England and Wales) REGISTERED CHARrrY NUMBER: 313677 Report of the Trustees and Unaudlted Flnanclal Ststements for the Year Ended 31 Marth 2024 for SHELLIX CO.LIMrrED Mellnek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 IDH
SHELLIX CO.UMrrED Contents of the Flnancial Statements FOR THE YEAR ENDED 31 MARCH 2024 Pag• Report of the Trustees Independent Examlner's Report ststement of Financlal Artlvltle9 Balance Sheet Notss to the Flnanclal Statements 6 to 9
SHELUX CO.LIMrrED (REGISTERED NUMBER: 00750459) Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also dlrectors of the charlty for the purposes of the Companies Act 2006, present their report with the finaTrclal statements of the charlty for the year ended 31 March 2024. The trustee5 have adopted the provisions of Accounting and Reportlng by Charities: Statement of Recommended Practlce appllcable to charitles preparing thelr accounts in accordance with the Flnanclal Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJEcfivES AND AcfivmES Objectives and aims The charity exlsts lo support rellglous and charltsble institutlons in Great Britsin and abroad and may recelve donations from any person, organisation or company, Slgniflcant artlvltles During the year the company contlnued its phllanthropic actlvitles and has maintalned its support of rellglous, educational and other charltable Instltutions both in Great Brltaln and abroad. Publlc benefit The Trustees confirm that they have referred to the guidance contained 5n the Charity Commisslon's general guidance on publlc benefit when reviewing the Company's alms and objectives and in planning future activltles and setting the grant maklng policy for the year. Grantmaklng The company Is contlnulng Its policy of making grants In the main to Jewlsh charltles that further the advancement of educatlon in the Jewish faith. Approxlmately 830/0 (2023: 970/0) of donations were to UK charities. FINANCIAL REVIEW Investment pollcy and objectlves Under the Memorandum & Articles of Assoclation, the charlty has the power to make any investment whlch the trustees see fit. Reserves pollcy The trustees maintaln reserves in order that they can contlnue a reasonable level of distrlbutlons and grants should the charlty's Income not remaln at the current level. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity Is controlled by Its governlng document, a deed of trust, and constitutes a Ilmlted companyi Ilmlted by guarantee, as deflned by the Companles Act 2006. Organlsatlonal structure The organisation Is run by the Trustees. Every Trustee holds office untll helshe shall die or shall cease to hold Offi by virtue of Article 47 of the Articles of Association. None of the trustees have any beneficlal Interest in the company. Regular infomial meetings are held to conslder particular larger applications and grants. Rlsk management The Trustees have considered the major rlsks fad by the charity and they have taken appropriate steps to mitlgate any rlsks that have been identified. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 00750459 (England and Wales) Registered Charity number 313677 Registsred offlce Cohen Amold New Burlington House 1075 Finchley Road London NWII OPU Page I
SHELUX CO.LIMITED (REGISTERED NUMBER: 00750459) Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024 Trustees Mr M Broner Mrs S Cohen Mrs C W Henry Company Secretary Mrs R Lichtensztan Independent Examiner Mr Danny Flne, FCA Melinek Flne LLP Chartered Accountsnts First Floor, Winston House 349 Regents Park Road London N3 IDH Approved by order of the board of trustees on . and 51gned on Its behalf by: Mr M Broner - Trustee Page 2
Independent Examiner's Report to the Trustees of Shellix Co.limited (Registered number: 00750459) Independent examiner's report to the trustees of Shellix Co.limSted ('the Company.) I report to the charlty trustees on my examlnatlon of the accounts of the Company for the year ended 31 March 2024. Responsibilitie5 and basis of report As the charlty's trustees of the Company (and also its directors for the purpose5 of company law) you are re5pon5ible for the weparat40n of the accounts In accordance wlth the requwements of the Companles Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audlted under Part 16 of the 2006 Act and are ellglble for independent examination, I report in respect of my examinatbn of your charity's accounts as carried out under Sectlon 145 of the Charities Act 2011 ('the 2011 ACY). In carrying out my examlnatlon I have followed the Dlrectlons given by the Charity Commission under Sectlon 145(5) (b) of the 2011 ACL Independent examlner's ststement I have completed my examinatlon. I confimi that no matters have come to my attentlon In conne¢tlon with the examlnatlon glvlng me cause to belleve: accountlng records were not kept In respect of the Company as requlred by Sectlon 386 of the 2c6 Act. or the accounts do not accord with those records; or the accounts do not comply with the accountlng requirements of sl0n 396 of the 2006 Act other than any requ1 ment that the accounts glve a true and fair view whlch is not a matter considered as part of an Independent examinatlon, or the accounts have not i)een prepared In accordance wlth the methods and prlnclples of the Statement of Recommended Practice for accountlng and rewrtlng by charltles (applIcae to charitles preparing their accounts In accordan with the Financial Repjrting Standard appllcable In the UK and Republk of Ireland (FRS 102)). I have no contrrns and have come across no other matters In connectlon wlth the examlnatlon to whlch attentlon should be drawn in this report in order to enable a proper understandlng of the accounts to be reached. Mr Danny Flne, FCA Mellnek Flne LLP Chartered Accoyntants Flrst Floor, Wlnston House 349 Regents Park Road London N3 IDH Date.. Page 3
SHELLIX CO.LIMrrED ststement of Flnancial Actlvlties (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2024 2024 Unrestricted fund 2023 Totsl funds Notes INCOME AND ENDOWMENTS FROM Donations and legacie5 116,540 86,204 Investment Income Totsl 123 742 EXPENDrruRE ON Raislng funds 1,847 1,830 Charltable actlvltles Charitable Actlvltles 105 163 Totsl 107 010 Net galns on investments 296 200 NET INCOME 16,732 317,638 RECONCIUATION OF FUND5 Totsl funds brought fomard 564,586 246,948 TOTAL FUNDS CARRIED FORWARD 581318 564 586 The notes form part of these financlal statements Page 4
SHELLIX CO.LIMThED (REGIsfERED NUMBER: 00750459) Balance Sheet 31 MARCH 2024 2024 Unre5trlcted fund 2023 Totsl funds Notes FIXED ASSETS Investments Investments Investment property 296,250 296,250 192 644 488,894 488,894 CURRENT ASSETS Debtor5 Cash at bank 2,223 867 93,564 76,832 CREDrroRS Amounts falling due wlthln one year (1,140) (1,140) NEf CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABIUTIES 581,318 564,586 NEf ASSErs 581318 FUNDS Unrestricted fund5 581318 564 586 TOTAL FUNDS 581318 564 586 The charitable company Is entltled to exemption from audlt under Sectlon 477 of the Companles Act 2006 for the year ended 31 March 2024. The members have not requlred the company to obtaln an audlt of Its financlal statements for the year ended 31 Marth 2024 in accordance with Sectlon 476 of the Companles Att 2006. The trustees acknowledge thelr responslbllltles for (a) ensuring that the charltable company keeps accounting records that comply wlth Sections 386 and 387 of the Companles Act 2006 and preparlng financial statements which give a true and fair view of the State of affairs of the charltable company as at the end of each financial year and of Its surplus or deficit for each flnancial year in accordance with the requirements of Settions 394 and 395 and which otherwise comply with the requirements of the Companles Act 2006 relatlng to financial statements, so far as appllcable to the charitsble company. These finandal statements have been prepared in accordance wlth the provislons appllcable to charitable companles subject to the small companie5 regime. (b) The financial statements were approved by the Board of Trustees and authorlsed for issue on and were slgned on its behalf by: Mr M Broner- Trustee The notes form part of these financial statements Page 5
SHELLIX CO.LIMITED Notes to the Financlal Statements FOR THE YEAR ENDED 31 MARCH 2024 AccouNfING POLICIES Basis of preparing the financial statements The financial statements of the charitable companyi 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 charlties preparing their accounts in accordance with the Flnancial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) (effectlve l January 2019),, Finandal Reporting Standard 102 The Financial Reportlng Standard appllcable 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 exption of Investments which are included at market value, a5 modified by the revaluatlon of certain assets. Income All income Is recognlsed in the Ststement of Financial Actlvities once the charity has entitlement to the funds, It Is probable that the Income wlll be receSved and the amount can be measured rellably. Expendlture Llabilltles are recognised as expenditure as soon as there Is a legal or constructive obligatlon committing the charlty to that expendlture, It Is probable that a transfer of economlc benefits wlll be requlred in settlement and the amount of the obllgation can be measured rellably. Expenditure Is accounted for on an accruals basis and has been classlfied under headlngs that aggregate all cost related to the category, Where costs cannot be dirertly attrlbuted to particular headlngs they have been allocated to activities on a basis conslstent with the use of resources, Grants offered subject to condltlons whlch have not been met at the year end date are noted as a commitment but not accrued as expenditure, Znvestment property Investment property is shown at most recent valuatlon. Any aggregate surplus or deficlt arising from changes In falr value Is recognised In the Statement of Flnanclal Activities. Taxation The charity Is exempt from corporatlon tax on Its charltsble attivitles. Fund accountlng Unrestrlcted funds can be used In accordance wlth the charltable obJectlves at the dlscretlon of the trustees, Restrlcted funds can only be used for particular restrlcted purposes wlthin the objects of the charlty. Restrlctlons arlse when speclfled by the donor or when funds are ralsed for particular restrlcted purposes. Further explanatlon of the nature and purpose of each fund is included in the notes to the f1nancial statements. INVEsfMENT INCOME 2024 2023 Rents received Page 6 continued...
SHELLIX CO.LIMITED Notss to the Flnancial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024 RAISING FUNDS Investment management costs 2024 2023 Property repair5 Insurance Comrnlssion 92 741 271 667 892 GRANTS PAYABLE 2024 2023 Charltsble Actlvitles 103 676 Donatlons and grants comprlse amounts pald to institutions In accordance wlth the charity's objects. All donatlons were paid directly from the charlty to the Instltutlons, as follows: Grants made (£) Name of Instltutlon North London Welfare and Educational Foundatlon Achlsomoch Ald Company Mercaz Hatorah Netzach Ylsroel Merkaz Torannl Manor Drlve Torah Keren Llmited Shaarel Orah Ltd Sassov Bels Hamedrash The Beth Yisroel Organlsatlon Frlends of Galanta The Samuel & Leah Cohen Memorial Fund Other 18,600 9,000 8,600 8,157 7,500 5,000 5,000 5,000 5,000 5,000 26,819 Total 103,676 TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, remuneratlon or other beneflts for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. expenses trustees, expenses paid for the year ended 31 March 2024 nor for the year ended There were no 31 March 2023. Page 7 continued...
SHELLIX CO.LIMITED Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024 FIXED ASSET INVEsfMENTS Shares In group undertaklngs MARKET VALUE At l April 2023 and 31 March 2024 296 250 NEf BOOK VALUE At 31 March 2024 296 250 At 31 March 2023 296 250 There were no investment assets outslde the UK. Cost or valuatlon at 31 March 2024 15 represented by: Shares In group undertaklngs Valuatlon In 2024 Cost 296,200 50 296 250 INVESTMENT PROPERTY FAIR VALUE At l April 2023 and 31 March 2024 NEf BOOK VALUE At 31 March 2024 192 644 At 31 March 2023 DEBTORS: AMOUNTS FALLING DUE THIN ONE YEAR 2024 2023 Trade debtors 867 Page 8 contlnued...
SHELLIX CO.UMrrED Notes to the Financlal Statements - continued POR THE YEAR ENDED 31 MARCH 2024 CREDrroRS: AMOUNTS FALLING DUE WrnIIN ONE YEAR 2024 2023 Accrua15 and deferred Income 1,140 io. RELATED PARTY DISCLOSURES During the year £5,000 (2023: £5,600) was donated to charltle5 whlch have trustees in common with Shellix Co. Llmited Page 9