Charfty reglstr4tk>n number 801967 Company wegl$trath)n numbgr 01962841 {England and Wale8) PREMIERQUOTE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
PREMIERQUOTE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustses M. W8101d Chlaf Ex•cutr40 Offic•r Secretsry Joy Green Charlty numbor 801957 Company numbor 01952841 Prlnclpal address 18 Green Walk Audltor Harold Everett IMeford LLP Portland Sute AlleY HoLtse 12.12a Margaret Street London W1W8JQ Bankorn Bardays Bank PLC Sollcltors Bude Nathan thnier 1-2 Temple Fcffiune Parade Bridge Lana Lond( NW11 OQN
PREMIERQUOTE LIMITED CONTENTS Page T18es, r&port IrKlep8ndent auditorfs report Staterne of financial acbvilies Balgnce sheet Statement of cash ttovfd Notes to the ffinarKid statements 10-17
PREMIERQUOTE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 The Iru8tees present their annuJ rert and fiCl atements for the year énded 30 September 2023. The financial statements have been prep8red in 1rdance wth th8 accounting rA)licies set txrt in rKste 2 to the financial statements and comply with the charity's Memorandum and Articles of Associatiors, the Companies Act 20 ané 'Accounting and Repting by Charities.. Stat8menl of ReccAnm8nd8d Practic8 applica& to tharitias preparing their accourrts in accordance wilh the FInaaal RetM)rting Standard applicable in the UK a1 Republic of Ireland {FRS 1021" leffgXNe January 2019) Obj8ctlve5 and actlvltles The charity's object and Rs principal activity continued to be the aarement of religion in a¢dance wtth the Orthodox Jewish Faith and the relief of pov.The tst88S confim that th8y have referred lo the guidance LLntsined In the Chartty Commission's geneKal guidance on public benefit when reewIng the charrvs aims and objectives. The policies apied in furtherarKe of Itwe objects are to th&J(e the lunds as and when the Iruslees see fil. The aim of thé d)aty is the advancw)enl oflhe Je•4ish Faith. There has been no change In the policy durirYJ the year. The strat8gKgs 8mploy8d to achieve the chanty's obiedives were to pThide grants and donati8 to those organIs'on¥¢hWIS who a5SiSt thè drity in meetirvJ those aims. The trustges have paid du8 regard to guidance issued by the Chlty CommissKin in d6ciding what acthvities tre charity should undertoke. The charity has managed to achieve its ObCVe$ by receiwrvJ income from its P110 of investment properbes and listed investments, th)nations frcrfn related paty companies detailgJ in n¢)te 20 to these arKounls and Inte$1 incom8 from bank deposits. The tru88s' pdicy is to build thr asseis to a level wh8feby the trust Iorne fr¢Jn their assets can be M8Mised and arUed on a regular, suStainae and IreasIng lèvèl In order lo be able lo apply this inc(¥ne to meet the requirements of the tharitys objerts. Achl&vem&nts and perfom)anco The charty is satisfied wth its overall achievements aThJ pthrnan during the year and has confnued lo meet ts objectives with regard to the lev81 of donations made durir4J the ygar to wortFMhile charitable cause5. Flnanclal rnvlew The reserves held at 30 September 2023 shcml a surplus of £10,508,38812022 - £10,719,004). The trustees have revalued the tharity's investment PTQFerlw in the year ended 30 September 2023 to £9.600,00012022 - £9.970,000}. The tW8tees are not aware of any materid changes nce tFis vauation. Donations trom companles and income aring on investments were considered reaSonae and the trustees fed that the present level of income is suffident to permit the charity to ¢wb'nue in businessfor Ihe fteab1e fvbjre. Reserves pollcy It is the policy of the charity to maintain unr8Str7ra8d fiJn(Is, vlhich are the fre8 SerV&S of th8 charity, at a level which the Ifustees think appropriate, after cfmsidering the future commilments of the charity and lik8ty 8dminlstralNe costs of the charty for the forthtThiirKJ year. The trustees are confident that there are sufficient funds awLqble to Mnt8 the ruming of the charity. Invèstmant pollcy Under the Memorandum arKI Artides of Ass1, the charity ha5 the pw to make any investment In whlth the tharity Sees fft. Th8 trusts consid8r ts retum on investments to b8 satisfactory. Rlsk Management The InJ8tees have assessed the m8jor risks to whith the chartty is exwsed, In partitxlar those related lo the operations and finances ofthe charfty and are satisfied that systems are in sAace to miugate exposwe to the major risks.
PREMIERQUOTE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 A review of the risks Charity may frace is carried ¢Xrt annually. A key element In the management of financial risk is the setting of a reseTV8 pdicy and its regar review by Ihe trustees. Plan for future rI1)d$ Th8 charity intends to continue maknng availabte for thnation to ts worthy cause il supportg for it8 charitable purposes. With this in mind. the truslees and directc$ are ¢onstanUy kIng to find means by which they are able lo iwease the Ve1 of funds the charity is aNe io distrtiyjte. structure. governance and managèmènt The tharity is a cclnpany limited by guarantee. arKI is therefore go¥em8d by its MemorarKlum arKI Artides of Association. The trustees, who are also the directors for the purp)se of company w. and vtho served durrw th8 y83r and up lo the date of signature of the financAal siatemenls were.. M. Wesenfeld H. Lasi New injstees are appointgj by the eStiThJ Board of Tnjstees. Thé charity has the pcr•¥er to appoint additional trustees as it consid8rs fit to do so. Strbjuld new InJ5tees te apwnted, the Tr wll apply suitable recruitment and training procedures. The ch8rfty Is managed by its Iruslees. The tharity is organised so ihat its fwsiees meet wularfy lo manage its 8ffalrs. Mr H Last has boen apwlnted by the trLkStees to manage day to day cperations Ofthe charfty. There are no restri¢Xions imwsed by the g)veming dwJmenl conceming the vrdy the charity can owate. othèr than that operalions mu81 be for the furtherance of the charivs t*¥8ds.
PREMIERQUOTE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Statement of Tru5tees' responslbllltles The trustees, who are also thè diTeetors of Premierquole Limiled for the purpose of Gompany law, are responsible for preparing the Trustees. Report and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company Law requires the Iruslees lo prepare financial statements for each financial year which give a true and fair view of the stale of affairs ol the charity and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for Ihal yèar. In preparing these financial statements, the Iruslees are required lo.. Sgle¢l suitable accounting polbcies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that arfj reasonable and pnjdent., stsle whglher applicable UK Accounting Standards have been followed, subject lo any malerfal departure5 disclosed and explained in the finan¢i81 st8tements.' and prepare the financial statements on the going concern basis unless it is inappropriate lo pSuMe that the charily will continue in operation. The truste8s arè rasponsible for keeping adequate accountSng records that disclose with reasonable accuracy al any time the financial position of the charity and enable them lo ensure that the financial statements comply wllh the Companies Act 2006. They are aSso responsible for safeguarding the assets of th8 charity and hancè for taking reasonable sleps for the prevention and detection ol fraud and other irregularities. Auditor In accordance with the company's articles, a resolution proposing that Harold Everett Wreford LLP be reappointed as auditor of thè company will bè put at a General Meeting. Ea¢h of thè tnjstees has confimied Ihal there is no Information of which they are awar8 which is relèvant to thè audit, bul of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and lo establish that thg auditor is aware of such inlorTll8tion. Tha Truste8s' r8POrt was appfoved by the Board of Trustees. H. Last Truste8 and director Dated..
PREMIERQUOTE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF PREMIERQUOTE LIMITED Oplnlon We have audited the ffinanu81 slatsments of Premierquote Lirnited (the 'than) for the year ended 30 September 2023 1¢h comprise th& statement of finanraal a¢tiviti8s, th& balanck sheet, the statement of cash flow8 and notes to the financial slatemenls, incI11ng signifficanl accounting wli¢ies. The finarKial pOrtifty framework that ha8 been applied in their preparation is aprAic8bl8 law and Un1 lfjngdom Accounting Standarés, indudirig Finandal Reporting Standard 102 The Finanal Reporting Standarf applKable in the UK and Republic of Iland (United lQngdom GenerallyAccepted Acc(wnfing Plti}. In our opinion, th& finarrfl statemer.. give a true and fair wew of the slate of Ihe tharilae c¢ynpany's affairs as at 30 Septnber 2023 and of ils irKoming sourceS and applicakn'on of resourc, for the year Ihen ended,. have been propety prepared in aranrfi wrth Unried KirKJ¢SJm Generalty Acxepted AcLxJunting Practl¢', and have been prepared in aCCdance the requirements ofthe CompaniesAct 2006. Basis for oplnlon We conducted our audit in acrnrdance wth InternaOnal Slandards on Auditing {UK) IISAS {UK>} and applicable law. Our resp(SibIlitieS under those standard8 are fijrther descrlbed sn the Auditors responwbilities for audit ol the financial statements section of ¢JJr report. are indepwKlent of the charity in accordanc8 with thg ethical requirements that are fftlevant to our audtt of the financlal statements in the UK, induding the FRC'S Ethical Standard, arKI we have fulfilled our other ethal responsitM"SÉUes in &cordanco wilh these requiremerts. We believe that the audlt edence we have obtained 18 sulficient and appropriate to provid8 a basis for our opinion. Concluslons relatlng to going concern In audltng the financial stslements, we hav8 (dled that the Tnth, us8 of the going 0)nrn basis 01 accounting in the pparatIOn oflhe statements is appropriate. Based on the work we have performed. we have not identified ary material UnrtaIntieS relating to everrts or condltlons that, individualty or collectivdy. may cast signffKant dwbt the charity's ability to conlnue as a going concem a period of at18asl 1ve MthS fmrn the financ4al statements are authorised for issue. Our responsllilitles and the reSp(IlIaS of the twstoes with $Fed to going ¢rn are de5¢ribed In the relevant seclions of this report. Other Informatlon The other infomiation comprises the in1Ma. included in fhe onnual r8rth oth8r than th8 finarla1 statements and our auditors Teport Ihereon. The trustees are reswnsible for the other inforynation contained within thè amual report. Our opinion on the financi stal8ments does not cover th8 (rther information and we do not express any form of assurance condusion thereon. Our responSility is to read th8 Other informatson and, in doing 80, consider whether the other infomialion is maierialty inrJ)nsistent wth Ihe financial statements or our knovAedge obtained in the course of the audit. or othetwse appears lo be materially mi&siat8d. If w8 identify such material Inconslstencies or apparent maiedal mlsstatements, we are required to determine whether this gives rise to a materi41 misstatement In the fin8noal slalements themsetves. If. based on the we have rformed, we ¢onclude that there 18 mat&ial mis81atement of this Other infonmation, we are required to reFth that fa We have nothlng to report In this regard. Matter5 on Ythlch we arn r8qulrod to report by exceptlon We h8ve nothing to rep)rt in respect of the foll(Mng matters in reLqtion to whlch the Chariti8s (Acwunts and Reports) Regulalons 2008 requlre us to rewrt lo you IF. In wr okynion: the information given in the finan statements is irVxSIstent in ary mater(al with the Truste&8' rert,. or sufficient accounting re(J)rds have not been kepL or the financial statements are r?t in agreement ¥th the accounlirrfJ Twds., or we have not received all the infonnalion and explanations we require fcf our audit.
PREMIERQUOTE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF PREMIERQUOTE LIMITED Rospon5ibllltles of tNstees AS explained more fully in the stalement of Trustees. reSpOnbillbe$, Ihe trustees, who are also the directors of th8 charity for the purpose of CoMpY law, are responSie for the preparatr'on of the fin¥Jal ststements and for being satisfied that they give a true atKI fwr view, and lor swh inlemd ctrol as the trustee8 detemine Is necessary to enable the weparation of fanal statements that are fr from material misstatement. whether due to fraud or error. In prepariw the finanoal statements, the trustees are iesponsible for assessing the charitys abilty lo continue as a going m, tjisdosing. as applicable. matters to wirwJ corKm and using the going concem ba&s of 8ccxAJnting unless the trustees eilfrr Intend to INuidale the charitabk company or to cease operations, or have no realistsc a]temab've bLrt to th so. Audltorfs responslbllities lor the audlt of the financlal statements We have baèn apwinted as auditor under tIOn 144 of Ihe Ch¥iiles Act 2011 and rep in accwtsnce with the Act and relevant regUlatll$ made har effert thender. Our obJ"ectives are to obtain reasonats4e assurance abrmjt whthèr the finartval statements as 8 Who are free from material misstslement. whether duo lo fraud or error. to i8sue an aLKif(0rf8 fep)rt that includes our opinion. Reasonable assurance is a hh of assurarth trKrt is not a guarantee thal an audit conducted in accordance th ISAS IUK} I11 ahvays del1 a material misstatement vhen it exis Misstatements can arise from fraud or error and are congdered material rf, individualty or in the aggregate. they could reasonabty be expected to infiuencg the economic decisions of users taken on the basis ofthese finan(aal stateml& Irregularilies. indudirKJ fraud, are inStarS of rKYn-ccplkan and regulations. deslgn prry%dures in line wllh our fesponsibilities. outlined above. to detect material misstatements in speCt of irregularitiès, induding fraud. The extend to which our procedures are wabie of detecbry irregularitiès. including fraud is detailed below.. In Identtyng and asseswng the risks of material misststement in re8pecI of irregularities, inckMlirwJ fraud and non- compliance wth laws and regulations. we COndered the fdk)vring.' . The nattJrè of the sector. . r disaJ85ions wth those charged vth management arKI govemm induding vtheth&r they had knowledge of any actual. Suspected or alleged fraud., Enquires of management, inLIng obtaining and r8vie*ing SUFWrting &JcLJm6niation, ¢>)nceming the charity's polioes and procedures reiatirvJ to.. - identifying, evaluating and complyiFVJ La and regulaticS and vthether they were aware of any inslances of now0mpl. - detecting and responding to the risk of fraLKI and ther they have knoedge of any actu, suspecled or alleged fraud. - inlemal controls established to mitigate ri5k$ relabJ to fraLbJ or nc4F compliance of laws and regulations. Discussi$ among the engagement team regarding and ¥Ae fraud might occur in the financlal statements and any potential indi&ors of fraud. The engagement team includes audit partner and staff vtho have ext8nsiv8 expertence of workiry wth chaiiti"e5 in similar sectors 8rKI thls exFerien¢e was r81evant to the disojssnS about where fraud risks mNJhl 8rise. We also obtained an ut)derstaTrding of the legal and regulat¢Jry fraMth¥ that the charty operates In, focuslryJ on provision of those laws and regulatitMS that had direcl effect on the determination of material amounts and disclosur&s in the financial statements. The key laws arkl reguLations w8 considered in this context Included the UK CharitiesAct. Charftses SORP and FRS 102. In addition. we o)nsldered provlsions of olher laws and regulations Ihat do rt have a diwt efft on the financial statements but Complian with whith may be fiJThdamental io the charities abltty to operate or to avdd a materiaj penalty.
PREMIERQUOTE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF PREMIERQUOTE LIMITED Following our review, we have idenlifd the fknng areas are deemed lo have the greatest potential for fraud or mal8rial misstatement within the finanLaal statements due to 1rreguhgrits. IncI1n9 fraud.. The recognition of rent inrAJme from freem investment woperties The Yalualion of estimates in respect of freehold inveslment WOFerties The ownership of freehold investmerrt properties The ownership of finanaal investm Grants made during the year Transactions wth rdated parties N1coMplIare Charity Commission guidelines Our procedures to resp)nd to risks identified above induded the followng: Income transackn'on testing was perfcThed lo test completeness of irthme. This incl agreeHYJ rental income lo lease8 in respect of freehold investment properties. thèrè was a period Of no inctsne in respect of freehold investment properties, we referr&J lo Trustees Board minute5 to justify the reason for this. We lested the valuation of estimates n spect of freehold InveStnt properties by reviewng and testing procedures undertaken by the trusteeldirector to update IIM8 valuthn inclu¢thng considerauon of th8 use of an expert by comparing similar proFerties in the same area. We verified th8 ownership of th8 investment proFerties to Ihe land registy searches. Reving surporting documentation for grarts rnade durirKJ Ihe year. ensuring the purpose of grant18 in line with the charty5 objective. Obtained a full list of related parties and verffying Cnpletess ofthL8 It based on our knlIedge. Performing an&tyc81 procedures to KIhty any unusual or ured relatK)nships what may indtsts risks of materf81 misstslements due to fraud. We rgmained alert lo any indlcauons of fraLKI. material misstatement or norFcompliance with law5 and regulatnS throug1 the autht KKluding those relaty'ng to finwKial statem8nts. Awareness throughcot the audit for non-complvance wth Clrity cnmISSIon guidelines induding r8vl8vng any corr8spondenc8 with th8 Charity Commission. A fiJrth8r description of wr responsibilities is aVaile on the Financial Re[#11 Coundl's website at.. https.'Il www.frc.org.uklaudrtorwnslbllhlès. Thls dascdWton fomis part of tyjr audltc¢s rewrt. Us• of our roport This report is made sdely to the CLxnpany's members, as a t#)dy. in axordance section 391 of the Companies Act 2014. Our 8udit work has been undertaken so ihat we might state to the companys m8mbers thosa matters we are required to state to them in an audrtovs report and for no cther wrpose. To the fvllesl exient permitted'by law, we do not aW or assume reSsibIlity ID anyone other than the cx)mpany and the company's members as body, for our audit work. for thls rewrt. or for the opini¢)n8 we have fcfftd. D J Scott (Senlor Ststutory Audltor) for and on behalf of Harold Everett Wreford LLP 0810112025 CharteThl Accountants Slatutory Audltor PortLqnd Suite Audley House 12-12a Margaret Street LdOTr W1W8JQ Harold Everett Wefd LLP is eligiNe for apwnknent as alit of the charity by virtue of its eligibility for 8ppolnlmenl as audttor of a company under Secti 1212 ofth8 Companie8 Act 20.
PREMIERQUOTE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Unrestrlcted Unrostrfcted funds funds 2023 2022 Notss Dor)ations and legaaes Investment Incme 70,Tr]0 1.364,644 70,000 973,054 Total Income 1.434,644 1.043,054 Raising fvnds 202,547 153,743 Charitable activtties 1,082,589 904,608 other expendibjre 14 320 1,073 Total expendlturo 1.285.456 1,059,424 Net gainslllosses) on investments 12 1367.969} 1381,058) Net outgolng resourcés b•foM transfèrs 1218.7811 1397,4281 Gross transfers t*tsveen fUlS 8,165 7,807 Nèt movem•nt In funds (210,6161 (389,8211 Fund balan8 at 1 Octobw 2022 10,719,004 11,108,825 Fund balancos at 30 S•ptsmb•r 2023 10.508.388 10.719.004 The statement of finanaal activities induth all gains and losses in the year. The slalement of finandal tI¥leS IrK4udes 8ll gwns and losses recognised In th8 year. All irrome and expenditure derive from ntinUIng activities. The stslement of finanaal activiles also compliès with the requirements for an inc))me arvj expenditur8 acco1 under the Companies Act 2006.
PREMIERQUOTE LIMITED BALANCE SHEET AS A T30 SEPTEMBER 2023 2023 2022 Notès Flx•d assets Investmenl propety Investments 15 16 9.fj00,000 261,249 9,970,000 276,648 9,861,249 10,246,648 Current assets Debtors Cash at bank and in hand 17 746,090 78,693 628,650 339,879 824,783 968.529 Creditors.. amounts falling due withln one year 19 1177.6441 1468,6731 Net current assets 647,139 499,856 Total a55ets less currènt liab51itl•s 10,508,388 10,746,504 Cr8dltors: ¥mount5 falling due after moro than one year 20 127.5001 Net assets 10,508,388 10,719,004 The funds of tha ¢harlty Unreslricled funds 21 10.508,388 10,719.004 10,508,388 10,719,004 Tha company is entitled lo the exemption from the audit requirement contained in s$clion 477 of the Companies Act 2006, for the year ended 30 September 2023, although an audit has been carried out under section 144 of the Charities Act 2011. The directors acknowledge their responsibilities lor complying with the requirements of the Companies A¢1 2006 with respect lo accounting records and the preparation of financial 51alemenls. The membèrs have not required the company lo obtsin an audit ol ils financial statements undor the requirements of Ihe Companies Aci 2006, for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions appll¢able lo companies svbjecl lo the small companies regime. Th¢ financial statements were approverj by the INslees on . H. Last Trustee and director Company registration number 01952841 (England and Wales)
PREMIERQUOTE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2023 2023 2022 Notes Cash flovm from operating activltios Ca8h ab80Tbed by operations 24 {1,329,976) 1918,2661 Investlng aetlvlti88 Falr value108s on investrrents Repayment of loans Purchase of investmenis Proceeds fr¢Jn dlsposal of Investments Investment income received {381,058) 18.284 P75,784) {25,8131 43,243 1,364,644 225.030 973,054 Net eash generatsd from invegtlng actlvltle5 1.1[.290 835,310 Flnanclng actlvltle5 Repayment of bank108ns (37.500} (10,0001 Net cash usod In financlng admtlos I37,5)} 110,000) Net decrease In cash and cash oqulvalonts (261,186) 192,95e) Cash and cash equfvalents at beginnww of year 339,879 432.835 Cash and equlvalents at end of year 78.693 339,879
PREMIERQUOTE LIMITED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 crtdcal aunt1ftg estimates andjudgements In the aprlication of the charivs acetrJnlKo pcAKies. trl are required to make judgements, estimates and assumpiions aboui the carrying amount of assets and liabil8s that are not readily apparent from other sources. The estimates and assated assUmptn$ are based on histr¢01 experierte and other factors that are con&dered to be relevant. Actual resutts may diffw from th8se estimates. The estimates and Urmley1fig aSSUTnptiong rewff•EII on an QryLNng basis. Revls)ns to xcounting estimates are recognised in period in whth the esbme is revised vthere the rewsion affects IlY that Period, or in the period of the rew8ion and firture periods the re3n affects both cuffenl and future periods. The main area of UnrtaInty is the valuation ol investment properties. Accountlng pollclas Company Infonnallon Premierquole Limited is a wivate r4Jmpany limited by guarantee incorporated in England and les. The I1paI office address is 18 Green Walk, Lon(kni NW4 2AJ Ihe registered Offi 15 P. O. Box 7010, 2nd Floor, 38 waen Street, London, W1A2E 2.1 Accountlng convontlon Th6 accounts have been wepared in aC£Ordan wth the dHrilWs MeTnoRndum and Artides of Assoclation, the Companies Act 2006 aryj "Atxwntr'ng and Rewting by Charities.. Stslement of R8MMended Practice applicable to charfties preparing Iheir accnunts in accL)rdan with the Finan¢ial Rewrting stdar applicable in the UK and Republic of IrelarKI (FRS 1021. las amended for accounting periods oJnmenGing frorn 1 January 2016). The charity is a publ Bonefft Entity as defined by FRS 102. The financial staternenls are prepared In sterting. is Ihe furlI0n81 cjjrrerry of tt charity. Mongtary amounts in trse finane4al statements are rounded lo the nearest £. The finanaal statements have been prep8red under Ihe hiofical cost convention, modffjed to include tre revalualion of freehold properties and lo indude eStment propffb'es arKI certain financial InstrLments at fair value. Th8 principal accounting Frf)IiLyes adLWd are set ct bdow. 2.2 Golng conGgrn At the time of approving the finaal statements. Ihe trustees have a reasc)nablè eXpeCtstiC that the charity has adequate resourcés lo contfinue in operational exisl8n( for the foreseeabfe future. Thus the trtee8 onlinue to adopl the 90ing ¢x¥ncem basis of untirj in preparing ffinanaal statements. 2.3 Charltable funds Unreslricted are available for at dI¥tsOn of the trustees in fvrtherar8 of their charitable oli8ctiV8S. 14 Incomlng resourcos Inc¢me Is re¢ognised when the thaTity is legalty enknded to it after any performance condOn$ have b8en met, the amounts can b& measured reliably, arml it is that income wll be reved. Cash donatlons are recoJnised on reIpl. Other donations are recognised orKe ts tharity has b8en notified of Ihg donation, unless rerfom)ance oJndltlons require defe of the amount. Investment incrAme is measured al the fairvalue of the consSderation recwved or rl¥able and fewesents amounts re1vable from the letting of investment properties, inter8sI frcmn bank deposit account and Interest from loan to connected undertaking net ot discounts. and VAT. Under operating lease agreements when the trustees provide incentives to its tenants. bme c¥)sl of the irKentives is recognise(l over the lease tem, on a straight lire basis, as a redudion in rentat lThy)me. 10-
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accountlng polkles {contInu) 2.5 Resources expended Expenditure Is recogr)Ised when a liability is IrUrred. Expenditure which Is direcuy attributable to speufic actNitses has been included in these categories. Expenéilure directly related lo investynenl F¥opS has b88n saparatdy in th8 Statement of Flnancial of financial activities under the hea(ling'Raisiro ftmds.. Ch8ritsble aciwities indude expenditure of grants made for thg advarwnent of rdigion in accordarKe wth the Orthodox J8wish Fth and the relief of poty. 2.6 Inve8lment propertles Invesknent propety.. which is proFety held to rental$ an(Vor for capital appreclatlon. is initially recognised al cost, which includes the purchase cost and any diredly attributable expenditure. Subsequently it is measured al lair value al the reporb.ng end date. Thè surplus or deficit C revaluation is rteognised in offt or10sS. 2.7 Fix•d asset Investments Fix8d asset Snvesknents are initially measured * trawctijn price excluding transaction cosls, and are subsequently measured at fr valu8 al eath ratirJ dat8. Changes in faiT valu8 are recogrised in net inc0mel{eXpdrtUre) for the year. Tranwtion costs are eXPd as inrred. 2.8 Ca8h and ¢ash equlvalents Cash and cash equivalents Indle cash in hand. dew5its held at call with banks, other shc¥t4em liquid investments wth original maturities of three mcths cf ths, and bk overdrafts. Bank overdrafts are shMI within trx)rrowngs in current liabilities. 2.9 Flnanclal Instruments The tharity has elth to apply lh8 provisir of SvAlion 11 'BaC Financial Instruments. and Section 12 'Other Financial InstrUMts Issues. of FRS 102 to all of its fina1 instruments. Finandal instnjments are recognised in Ihe charivs balance whgn th8 charity bocorn8s paty to the ontrathjal prwsion$ ofthe inthmenL Finanaal assets and liabilities are offset, vthh the net amounts presented in Ihè financial stslèments, when there Is a legally enforceable right to set Off the reccgnised amounts and there 15 an inlention to setue on a nel basis or lo realise th8 asset and setue the liablity mUltaneou. Basic financlalassets Basic financ181 assets, which include debtors ond cash and bank balances. are initially meawr8d transaction price induding Iransaction costs and are subsequently Caled at amortised cost the effective interest meth¢xl unless the arrangement constittrtes a finan(ing transaction, where the transacfjon 1$ measured at the present value of the fure epts discounted at a market rat8 of interest. Finan1 assets dassrfied as recelvable within one year are not amortised. 11
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accountlng pollcles {Contlnuedl Basffc finartialliabllitles Basic financial Ilabillties. including uedilors arbj bank loans are initialty rewnised at transactiM price unless the 8ffangemenl conslitutes 8 frnancw transactiw. wfiere the debt Insirument is measLtred at the present value of the futur8 payments tliscouni8d at a market rate of interest. Financial li8bilities dassffied as payable vAthin one year are not amti$J. Debt instNm8nts ar8 subs8quentty carrkgd at amorti5ed 51. using Ihe effective Inte1 rale method. T8 creditors are obligations to pay for gooas servi11 have been acquired in the ordinary course ol opera'ons from suppliers. Amtyjnts paYae are dassified as ojrrent liabilities rf paymenl is due within one year or less. IF not, they are presented as nork<urrent liabilrties. Trade creditors are recognised inrfially al transaction and 8ubseqLEentty measurwj at amorkn"se(J cost u&ng the effective irrterest methoj. Derecognition of Ilnanclal liabilities Financial liabilities are derecognised wthen the chariws Contracal obligations expire or are dlscharged or ancelled. 2.10 Funds structurn AJI funds held are unr8stri(*8d Incom8 funds. Income from donatlons and legacles Unre¥trlcted Unregtrtctsd nds funds 2D23 2022 Donations and grRs 70,rx)o 70,000 Income from Investments Unrestrlcted Unr8strlct8d funds funds 2023 2022 Rentsl income Income from listed Investrnents Interest receivable 1.326,586 6,344 29.714 929,835 23,914 19,305 1,364.644 973.054 Investment InMe arlses from invesknent assets hdd In the UK. 12-
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Ralslng funds 2023 2022 Agents, fees and other property outgoirwds staff costs 193.196 9,351 147,542 6,201 Investment woperty exp1tle 202,547 153,743 Charltabl• actlvltles 2023 2022 Grant fvnding of actiwties Isee note 91 Go¥emance ox)sls (see rnte 71 1,C66,829 15,760 894,940 9,668 1,082,589 904,608 Support costs allocated to athltles 2023 2022 Goveman¢e ¢0 15.760 9,668 Anatysod between: Haading #a¢982 15,760 9,868 Net movemènt In funds 2023 2022 The nel movement in furKls is stated after tharg1(crediting)'. Fees payable for the audlt of the ¢harty's financlal statements 12,000 6,CK)O Grants payable Grants are payable in fUrtherar of the chariiws obJ'e(ves and are detailed in a separate public8on wh)Ic* is available Irom the Registered office address. 10 Trusteas None of the trustees lor any perSc$ connected with them} r8cewJ 8ny remun8ratK)n during the year. The truslees were not pald or reimburs&J for expenses duriThJ the year. 13-
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 30 SEPTEMBER 2023 11 Employoes 2023 Numbor 2022 Numbgr Employmentcosts 2023 2022 Wages ar salaries 9,351 6,201 There were no 8mFloye8s vthosé annual remuneration wa8 m(Ye Ihan £60.000. Remunera¢lon of key managgm•nt PO150nn&l 12 Galns and ktsses on Investments Unrgstrlctod Unrestrl¢ted funds funds 2023 2022 Gair/00$s8s} arfsirYJ on.. Revaluaticrf) of investments 1367.969) (381,0581 13 Taxatlon The charity is exempt from taxaliw on ts ¥blieS because all Its hKome Is apFlI for charitabLg purposes. 14 Other •xpendlturn 2023 2022 Financing costs 320 1.073 FinarKing costs rewesents interest paid on Bcrfjr Loan scheme. 14-
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2023 16 Invostment property 2023 Falr valufr At 1 Odober 2022 Net gaills or losses throu9h f8irvdue adjuslmenls 9,970,000 1370,000) At 30 September 2023 9,600.000 Investment properties comprise freehokl and k)ry leasehold propwtes. The fair Value of the investrngnt properties at 30 septemb 2023 is £9.600,(MJ) (2022- £9,970,1J)01 and has been arriv8d at on th8 bags of valuation carried out at this date by H. Lasl. 8 trustee who is not a professionally qualified valuer, The valuation was arrived at by referer to market evid8nc& of transatxion pric8s for similar properti&s in its Iculion and takes into account the stale of the rent market in the area vthere the property is situated. 16 Flxod et Investments Invgstmants Cost or valuatlon At 1 October 2022 Additions R8valuation Dlsposa18 276,648 25,813 2,031 {43,2431 AI 30 September 2023 261.249 Carrylng amount At 30 September 2023 281.249 At 30 Soptember 2022 276,648 17 Dobtors 2023 2022 Amounts falllng due wlthln one year. Other debtors Pr8paymenls and accrued income 613,449 132,641 327,878 300,772 746,09) 628,650 Other debtors by the charity as at 30 September 2023 indudes a bridging knan of £520,000 12022 - £244,216) glven to third parb'es which was repaid in full topther v•ith the interest after the year end. 15-
PREMIERQUOTE LIMITED NOTES TO THE FINANCIALSTATEMEKrs (coKriNUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 18 Loans and ovènlrafts 2023 2022 Bank loans 37,500 P8yabl& within y8ar Payable after one year 10,000 27.500 The Bounce Back Loan is rewd in frjll during Ihè yw. 19 Crndltors: amount5 falllng due Tthln one year 2023 2022 Note$ Bank loans Other taxation and social Snty Olh8r craditors Accruajs and deferrwj InMe 18 10.000 35.724 157,568 265.381 27,680 12,051 137,913 177,6U 468,673 20 Credltor¥'. amounts falllng duè after more than one year 2023 2022 Bank loan8 18 27,500 21 Unrestrlcted fund8 The unrestrieted funds of the dwlty comprise tr)e un8xwKled balan of thjnafions and grants whith are not subject to SplfIC conirrtions by donors and grantors as to they may be used. These indude designated funds which have been set aside (krt of unrestride(l fvnds by the trustee5 for specific purposes. At 1 Octob8r 2022 Incoming Resources r0ree$ eXndad Transfers Galns and At30 lossos Soptambèr 2023 General funds 10,719,004 1,434,644 11.285.456) 8.165 (367,9691 10,508.388 Pievlous yoar. At 1 Cktobgr Incomlng Rw1ueS 2021 resources expondad Transfe Galns and losses At30 S&ptsmbgr 2022 General fijnds 11,108.625 1,043,054 (1.059,4241 7,807 {381,0581 10,719,Ci74 16-
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 22 Rolated party transactlons Trjnsactlons wlth rnlatsd parties Duiing the year the tharity charged interest of £4,797 {21y22 - f2,181> on a loan tr) Claimworth Limited. a registwed UK charity. Th8 loan is r8payabk dem. The amount of loan outstanding at the balance sheet dale induded in debtors was £80,000 12022 - £80,0) arkl accrued loan interest indUdj in debtors was £10,95212022- £6,155). Mr H. Last is the trustee the director of both the Charities. During th8 year lh8 charity paid rent and service charges of £11.000 (2022- £11,000) to Findlay Investments LlmSted, a company in which H. Last, the Injstee is also a direct¢y. At the year end the charfty owed £65.913 12022 - £54,913} lo Findlay Inyesfments Limited. DurirKJ the year the charity reCved donations of £70,00012022 - £70,000) from Debenet Limited. a company in Ythlch H. Last. the trustee is also a dired(. 23 Anatysls of changes In noifunds All Ottotr 2022 ¢osh Iltsyts At 30 Septsmber 2023 Cash at bank and in hand 339.879 {261,1861 78.693 Loans falling due thfjn one yaar Loans falling due after more than one year (10,000) (27.500) 10,000 27,500 302.379 {223,686} 78.693 24 Cash genernted trom operntlons 2023 2022 Deficit for ihe year 1210,618) {389.6211 Adjustments tr.. Investment I[0e reccJnised in statement offirwKial acEivitie5 Fair value gains and losses on Investments 11.364,644) 367,969 {973.0541 381,058 Movements in worknng capital: Decreasellincrease} In debtors (DeCa$eincrea$e in ¢ye¢Jitors 158,344 (281,029) 1109.8411 173,192 Cash absorbed by oporatlons 11,329,976) 1918,2661 17-