Company rnglstration number Oq962841 (England and Wales) Charity r8gi8trats.on numbèr 801957 (England and Wales) PREMIERQUOTE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
PREMIERQUOTE LIMITED LEGALAND ADMINISTRATIVE INFORMATION Trustee8 M. WBsenfeld H. Last Chlof Exocutlve Officer H. Last Socrotary Joy Green Charity number 801957 Company number 01952841 Principal addre88 8 Danes¢roft Gardens London NW4 2ND Registered offie8 Hallswelle House 1 Hallswelle Road London NW11 ODH Audltor Harold Everett Wreford LLP Hallswelle House 1 Hallswel@ Road London NW11 ODH Bankers Barclays Bank PLC Solicitors Bud8 Nathan hNanier 1-2 Temple Fortune Parad8 Brldge Lane London NW11 OQN
PREMIERQUOTE LIMITED CONTENTS Page Trustees, report Independ8nt auditorfs report statement of financlal acllvtties Balance sheel Statsment of cash flows Noles to the finan¢lal slalements 9-17
PREMIERQUOTE LIMITED TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Tha trustees pres8nt thelr annual report and financlal stslernents for the ye8r ended 30 September 2024. The financial statement5 have b@en prepared in accordance wlth the accounllng policies set out In note 2 lo the financial statements and comply with the charlty's Memorandum and ArtÉcle8 of Association, the Compani6s Act 20C6 and "Accountlng and Reporting by Charilies: Statement of Recommended Practice applicable to charitiés preparing their accounts in accordan with the Financial Reporting Standard appllcabl8 in the UK and Republic of Ireland (FRS 102)" (&ffectiv8 January 2019) Objectlves and actlvltles The charity's obJect and its principal activity continued to be the advancem8nt of r81igion in accordanc8 With the Orthodox Jewish Faith and the relief of pov8rty.Tha trustees confirm Ihal they have referred to the guidance contained in the Charity Commission's general guidance on publlc beneflt when reviewing the charity's aims and oble¢llves. The pollcies adopted in furtherance of these objects are to distribute thè funds as and wh&n tha trustees see fit, Th8 aim of th8 charity is the advancement of the J5h Faith. There has been no change in the policy during the year. The strat8gi8S 8mployed to achieve the charivs objectives were to provide grants and donations to thos8 organisation51schools who asslst the chatiiy in meeting those aims. The trustees have paid due regard to guidance Issued by the Charity CommissSon in deddlng what adlvitles the charity should undertake. The tharity has managed to achieve its obj8ctives by receiving incomè from its portfollo of Investment propertles and list8d inv85tments, donations from related party companies detailed in note 20 to these accounts and int8r8St income from bank deposlts. The trustees, pollcy is to build their assets lo a level whereby the trust income from their assels can be maxlmised and accrued on a regular, sustainable and increasing level in order to be able to apply all this income to meet the r8quirements of the charity's objects. Achlevements and performance The charity is satisfied wtth t$ overall athievemenls and p8rforrnan during the year and has continued to me8t ts objedives with regard to the level of donations made during the year to worthwhlle charitable causes. Financial review The reserves held at 30 September 2024 show a surplus of £11,010,848 (2023 - £10,508,388). The trustees have revalued the charity's investment properties in the year ended 30 September 2024 to £9,990,000 <2023 - £9,600,CQO}. The trnslees are not aware of any materlal Changes since this valuation. Donations from companies and income arising on Investments were considered reasonable and the trustees feel that the present level of income is sufficient to permil the chaiity to conlinue in business for the foreseeable fijture. Reserves polley It is Ihe policy of the charlty to maintain unreslricted funds, which are the free reserv8s of the charty, at a lev61 which the Iruslees thlnk appropriate, after considering the future commitments of the etharty and the likely administrative costs of th8 charity for the forthcoming y&ar, The trustees are confident that there are sufficient fijnds avallable to maSntsin tho running of the charity. Inveslment policy Under the Memorandum and Articles of Asso(aalion. the charity has the power lo make any Investment Sn whlch the charfty seas fit. The trustees consider the return on investment8 to be satisfactory. Risk Management Th@ trustees hav& assossed the major risks to which the charity is exposed, in particularthose related to the operations and finances of the tharfty and are satisfied that systems are in place to mitigate exposure to the major risk5.
PREMIERQUOTE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 A remew of the risks the charity may face is carrted out annually. A key element in the management of financial risk is the setting of a reseThe policy and its regular revlew by the trustees. Plan for future poriods The charity intends lo continue making funds available for donation lo the worthy cause it supports for ils charitable purposes. With this in mind. the trustees and directors are constantly seeking to find means by which they are able lo increase the lavel of funds the charity is able lo dislribule. Structure. govemance and management The charity is a company limited by guarantee, and is therefore governed by ils Memorandum and Articles of Association. The trustees, who are also the directots for Ihe purpose of company law, and who served during the year and up to the date of signature of the financial slaternents were.. M. Wesenfeld H. Last New trustees are appointed by the existing Board of Trustees. The charity has the power lo appoint additional trustees as il considers fil lo do so. Should new trustees be appointed, the Trustees will apply suitable recruilmenl and training procedures. The charity is managed by its trustees. The charity is organised so that ils trustees meet regularly lo manage its affairs. Mr H Last has been appointed by the trustees to manage the day lo day operations of the charity. There are no restrictions imposed by the goveming dtscumenl concerning the way the charty can operate, other than that operations must be for the furtherance of the charity's objects. Statement of Trustees. responslbllltles The trustees, who are also the d1CtorS of Premierquote Limited for the purpose of company law, are responsible for preparing the Trustees, Report and the financial slalemenls in accordance with applicable law and Ullited Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Audltor In accordance with the company's articles, a resolution proposing that Harold Evorett Wreford LLP be reappointed as auditor of the wmpany will be put at a General Meeting. Ea¢h of the trustees has confirmed that there is no information of which they are aware which is relevant lo the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps lo identify Such fèlevanl information and lo eslablish that the auditor is aware of such information. The Trustees, report was approved by the 8oard of Tntstees. H. Last Trustee and director Dated.
PREMIERQUOTE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF PREMIERQUOTE LIMITED Opinion We hav8 audi18d the financial statements of Premierquote Limited {the 'charity') for the year ended 30 Sepl8mb8r 2024 which comprise the stalement of finanual activiti@s. th8 balance sheet, the statement of cash flows and notes lo the financial stat8m8nls, including Significant accounting Policies. The financial reportlng framework thal ha5 been appli8d in their preparation Is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financlal Ropothng Standard appliGabl8 In fhe UK and Republic of Ireland (United Klngdom Generally Accepted AOUntIng Prdctice). In our opinion, the financial statements: give a Irue and faSr view of the state of the charitable company's affairs as at 30 Sept8mber 2024 and of its incoming resources and application of resources. forthe year then ended,. have been properly prepar8d in accordanc8 with Unlled Klngdom Generally Accepted Accounting Practice,. and have been prepared in acGordance with the requirements of th8 Companies Act 2006. Basis for opinlon We conducted our audit in accordance with InlemalSonal Stsndards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Aiiditorfs r8sponsibilities ft)r th8 audit of the financial statements section of our report. We are ind8p8ndent of the charity In accordan¢e wllh the ethical r8quir8ments that are relevant to our audit of the ffnancial statements in the UK, Including the FRC'S Ethical standard, and we hav& fulfilled our other ethical responslbllities in accordance with Ihese requirements. We b81ieve that the audit evidence we have obtslned 15 sufficient and appropriale to provide a basis for our opinion. Conclusions relating to going concem In auditing thé financial statements, we have Concluded that the TNstees' us8 of th8 going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perform@d, we have not identified any material uncertalntles relaling to even15 or conditions that, individualty or Collectively, may casl significant doubt on the charity's ability lo continue* as a going concem for a period of at least twelve months from when the financial statement5 are authorised for issue. Our r8sponsibililie8 and the responsibilities of the trustees with respect to golng ¢oncern are described in the relevant sections of this report. Other information The other information comprises the information Included in the annual report other than the financial stalernents and our audttor's report thereon. The trustees are responsible for the other information contained within the annual report, Our opinion on the financial siatetnents does not COV8r the other informafjon and we do not express any fomi of assurance conclusion thereon. Our responsibilily is to read the other informatlon and, in doing so, consider wheth@r tha other information Is materially inconslstent with the financial statsments or our knowledge obtained in the course of the audit, or olheNise appears to be materially misstat8d. If we id8ntify such material inconsistencies or apparent material misstatements, we are required to det&miina wh8th8r this gives rise to a material misstatement in the financial statements themselv8s. If, based on the work wo have performed, we conclude Ihat there is a material misstatement of this other information, we are required to report that fa¢l. We have nothing to report In thls regard. Matters on whlch we are requlred to report by excepllon We have nothing lo report In respect of the following matters in relation to whlch the Charltles (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: Ihe information given in thé financial statements is inconsistent in any material respect with the Trustees, report. or sufficient accounting records hav& not been kept., or the financial statements are not in agreement with the accounting records., or we have not received all the informatlon and explanations we r8quir8 for our audit.
PREMIERQUOTE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF PREMIERQUOTE LIMITED Responslbilitles of trustee8 As explained mor& fully in the stal8ment of Trustees, responsibilities, the trustees. who are also the directors of the charity for the purp059 of company law, are responsib18 for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statéments that are fr8e from malerlal mlsstalement, whether due to fraud or error. In preparing th8 finan¢lal statem8nts, the trustees are responsSble for assessing the charit8 ability to conllnue as a golng concern, dls¢losing, as appllcable, matters related to going concern and using the going concern bas1$ of acthunting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic altemative but tc* do so. Auditorfs rasponslbllltles for the audlt of the financial statements We have been appointed as auditor under $8Giion 144 of th8 Charities Act 2011 and report In accordance with the Acl and relevant regulations made or having 8ff8ct thereunder. Our objectives are to obtain reasonable assurance about wheth8r th8 financial statements as a whole are free from material misstatement. wh8ther due to fraud or error, and to issue an auditols report that Includes our opinion. R8asonable assurance 18 a high level of assurance bul Is not a guarantee that an audit condud8d in accordance with ISAS (UK) will always detect a materfal mi5Statement wh8n it exists. Mis5talements can aris8 from frnud or error and are considered material if, individually or in the aggregat8. they could raasonably be expected to influence the economic decisions of us8rs taken on the basis of these financial statements, Irregularities, In¢ludlng fraud, are Instances of non-compliance with laws and regulations. We design procedures In line with our responslbllitles, oullined above, to detect material misstatemants In respect of irregularities, includlng fraud. The extend to which our procedures are capable of detecting irregularities, including fraud is detailed below.. In identifying and assessjng the risks of material misstatement in respect of irregularities, including fraud and non- compliance with laws and regulations, we considered the following.. Th8 naknre of the s8Ctor', Our discusslons with those charged with management and governance including whether they had knowledge of any actual, suspected or alleged fraud. Enquires of management, induding obtaining and reviewing supporting documentallon, concerning the charity's policies and procedures relating to.. identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-complianc&. detecting and responding to the risk of fraud and wheth8r they have knowledge of any actual, suspected or alleged fraud, internal ¢ontrols established to mitigate risks related to fraud or non- compllance of laws and regulations. Discussions among the engag8ment team regarding how and where fraud mlght occur in the financlal stalernents and any potential indicators of fraud. The engagement leam Indud8s audit partner and staff who have extensive experfen(t of working with charities in similar seclors and this axperienc& w8s relevant lo the discussions about where fraud risks might arisa. W@ also obtained an understanding of the legal and regulatory framework that the charity op8rate8 in. focusing on provlsion of those laws and regulations thal had direct eff8cI on th& determinatlon of malerial amounts and disclosures in the financlal slatemenls. Th8 key laws and regulations we considered In Ihls context included the UK Charities Act. Charities SORP and FRS 102. In addltlon. we considered provlsions of other laws and regulations that do not have a direct offgct on the llnancial statements but compliance with which may be fundamgnlal to the ¢harftles ability to operate or to avoid a material penalty.
PREMIERQUOTE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED> TO THE TRUSTEES OF PREMIERQUOTE LIMITED Following our r8Vi8w, we have identFfied the following areas whith are deemed to have the greatest potential for fraud or material misstatement wtthln the financial statements du8 10 irregularities, including fraud.. The recognltion of rental income from freehold inv8Stm8nt propert18S Th@ valuation of eslimales in resp8Ct of freèhold invesknent properties Th8 ownership of freehold Investm8nt propartles The ownership of financial investments Grants made during the year Transactions with related parties NoTrcomplianc8 with Charlty Commission guidellnes Our procedures to respond to risks identified above Included the following,, Incoffle transaction testing was performed to test Completeness of income. This included agreeing rental Income to leas8s in r8spect of fraohold Investment properties. INhere there wa5 a period of no income in respect of freehold investment properties, we referred lo Trustee5 Board minutes to justify the reason for this. Wa tastsd the valuation of estimatss in respect of freehold investment properties by reviewing and lestlng procedur&s und@rtak8n by the trusteeldlrector to update this valuation including consideration of the use of an expert by comparing similar propertles In the same area. W8 verified the ownership of th8 investm8nt properties to the land registry searche5. Reviewing supporting documentation for grants made during Ihe y8ar, ensuring the purpose of grant is in line with the charily's objedive. Oblained a full list of related parties and verifying completeness of thls Ilst based on our knowledge. Perfomiing analytical prOdureS to identify any unusual or unexpected relationships what may indicate risk8 of material misstatements due to fraud. We remained alert to any indicatlons of fraud, malerfal misststement or non-complian with laws and regulations throughout the audit induding those relating to financial stslements. Awareness throughout the audit for noTrcompliance with Charity Commission guidelines including reviewing any correspondènce with the Charity Commission. A further description of our responsibilities is available on the Financial Reporting Council's website at: https:11 www.frc.org.ukjauditorsresponsibililies. This description fomis part of our auditorfs report. Use of our report This report is made solely to the charity's trustees, as 8 body, in accordanc8 with Part 4 of the Charities {Accounts and Reports) Regulations 2008. Our audit work has been undertaken so thal we might state to the charity's trustees those matters we are required to slate to them in an auditor's r@port and for no other purpose. To the fullest extent permitted by law, we do not acp1 or assume re8ponsibilily to anyon8 othar than the charity and the ¢harlty's trustee8 as a body, for our audit work, for this report, or for the opinions we have fonned. D J S¢ott (Senlor Statutory Auditorl for and on bbhalf of Harold Everett Wreford LLP 17 December 2025 Chartered Accountants Statutory Auditor Hallswelle House 1 Hallswelle Road London NW11 ODH Harold Everett Wreford LLP is eiigible for appointment as audrtor of the charity by virtue of its eligibility for appointment a5 auditor of a company under section 1212 of th8 Companies Act 2006.
PREMIERQUOTE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unrestrlct8d Unregtrlcted funds fund8 2024 2023 Notes Income and endowments from: Donations and legacies Invesbnent income Other incomo 40,000 70,000 1,242,920 1,364,644 31,637 Total Income 1,314.557 1,434,644 enditure on: Raising funds 175,865 202,547 Charitab18 adivitif*S 1.069.085 1,082,589 Other expenditure 15 1,132 320 Total expenditure 1.246,082 1,285,456 Net gainsl{losses) on investments 13 432,383 (367,969) Net incomin(outgolngI sOurceS before transfers 500,858 (218,781) Gross transfers be88n funds 1,602 8,165 Net movement in funds 502,460 P10,616) Fund balances at 2 October 2023 10,508,388 10,719,004 Fund balances at 30 September 2024 11.010,848 10,508,388 The statement of financial aclivilies includes all gains and losses recognised in the year. The stalemenl of financial activitles includes all gain5 and losses recognised in the year. All Income and expendSture derive from contlnuing activitie5. The statement of flnanclal a¢llvities also complies with the requirèments for an income and expenditure account under the Companies A¢t 21Kl6.
PREMIERQUOTE LIMITED BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 Fixed assets Investment property Investments Notes 2023 16 17 9.990,000 332.221 9,600,000 261.249 Current assets Debtors Cash at bank and in hand 10,322.221 9,861,249 18 436,129 394,853 746.090 78.693 Creditor5: amounts falllng due wlthin one year 830.982 19 824.783 (142.355) (177,644) Net current assets 688,827 647,139 Total assets less current liabilities 11,010,848 10,508,388 The funds of the charity Unrestricted funds 20 11,010.848 10,508,388 11,010.848 10,508,388 The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect lo accounting records and the preparation of financial statements. These financial slatements have been prepared in accordance with the provisions applicable to companies subjecl lo the small companies regime. The financial statements were approved by the trustees on 15 December 2025 H. Last rrustee and director
PREMIERQUOTE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 2023 Noto$ Cash flows from operdting a¢llvltie$ Cash absorbed by operations 23 {1.095,171) (1,329,976) Investlng acthitles Repayment of loans Purchase of investments Proceeds from disposal of Investments Investment income received 197,000 {54,088) 25,499 1,242,920 {275,7841 <25,8131 43,243 1,364,644 Nel cash generated from Investlng a¢tlvltles 1,411,331 1.106,290 Financing activities Repaym8nl of bank loans (37,500) Nel cash used in financing activities (37.500) Net in¢reasel(decrease) In cash and cash equfvalents 316,180 1261.188) Cash and cash equivalent8 at beginning of year 78,693 339,879 Cash and cash equivalents at end of year 394,853 78.693
PREMIERQUOTE LIMITED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Crltlcal a¢counllng estimates and Judgement8 In the application of the charity's accounting policles, the truslees are required to make judg&ment$, &slimales and assumptions about the carrylng amount of assels and liabilities that are not readily apparent from oth8r sources. The estimates and associated assumptions are based on historical experlen¢e and other factors that are considered lo be relevant. Actual r8sulls may dlffer from thes8 estimates. The estimates and underlying assumpb'on5 are revlewed on an ongoing basis. Revisions to accounting estlmates are recognised in the period in which the eslimat8 is r@Vlsed wh&re the revision affects only that perlod, or in the period of the revision and future periods wh8ro th8 revision affects both ourrent and future periods. The main ar8a of uncertainly is th@ valuation of Investment properties. Accountlng policies Company information Premi8rquote Limited Is a private company Ilmlted by guarantee incorporated in England and Wal8s. The registered Offi is Hallswelle House, 1 Hallsw&lla Road. London, NW11 ODH. 2.1 Accounting convention The accounts have been prepared in accordance with the charivs Memorandum and Arttcl8s of Association, the Companies Act 2006 ar)d Accounting and Reporting by Ch817tie8: Statem8nl of R8commended Practice applicable to charities preparing their accounts in accordan wtth the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016). The charlty is a Public Benefit Entiiy as defined by FRS 1D2. The financial statements are preparad in sterling, whickn is th8 functional currency of the charily. Monetary amounts in these financial statements ar& n)unded to the nearest £. The financial statements have been prepared under the historic81 cost convention, modified to includè the revaluation of freehold properties and lo include inv8stment properties and certaln financial instruments at fair value. The principal accounting polici8s adoptéd are set out below. 2.2 Golng concem At the time of approving the financial statements. the twstees have a reasonable expectation that the charily has adequate resources to continua in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basls of accounting in preparing the financial statement8. 2.3 Charitable funds Unrestricted funds are available for use at the discretion of the tNstees in furtherance of their charitable objectlves. 2A Incoming resources Income is recognised when the charity 18 legally entitled to it after any perfonnanc8 conditions have been met, the amounts C8n be measured reliably, and St is probable that income wlll be received, Cash donations are re¢ogDised on receipt. Oth8r donations are recognised once the charity has been notified of the donation, unless p8rformance condltions require deferral of the amount. Investment income is measured at the fair value of the consideration rec8iV8d or receivable and represents amounts receivable from the letting of investment properties. interest from bank deposit account and Interest from loan to connected undertaklng net of discounls, and VAT. Under operating lease agreements when the tmstees provide incentives to its tenants, the cost of th6 inc8nlives is recogni8ed over Ihe18as8 t8rm, on a slraight line basis, as a reduction in rental income.
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies Icontlnued) 2.5 Resources expended Expendllure 1$ recognised when a liablllly Is Incurred. Expendlture whlch is dir8cty attributable to specific activities has been included in these categories. Expendlture dlredy related to investment properties has been shown separa181y in the Statement of Financlal of financial activities under the heading 'Raising funds,. Charitable activities include expenditure of grants made for the advancement of religion in accordance wlth the Orthodox Jewish Faith and the rellef of poverty. 2.6 Investment properties Investment prop8rty. which is propety held to eam rentals andlor for capital appreciation. is initially re¢ognlsed at cost. which includes the purchase cost and any directly attributable expenditure. Subsequently il is measured at fair value at the rep)rting end dalè. The surplus or d8ficit on revaluation is recognlsed In profit or loss. 2.7 Flxed asset Investments Fixed ass6t inv8Stm8nts are initially measured at transactlon price excluding transaction costs, and are subsequ8ntly measur8d al falr value at each reporting date. Changes in fair value are recognis8d in n81 In¢omel(expenditure) for the year. Transaction costs are exp6ns8d as incurrBd. 2 Cash and cash equivalent8 Cash and cash aquivalents Include cash in hand, deposi15 held at call with banks, oth&r short-t8rm liquid Investments wtth original maturitles of three months or less. and bank overdrafts. B8nk overdrafts ar8 shown wlthln borrowings in current liabilitias. 2.9 Flnanclal Instruments The charity has elected lo apply the provisions of SlI0n 11 'Basic Financial Instruments, and Section 12 'Other Finanual Instrumenls Issues, Df FRS 102 to all of its financial Instruments. Financial instruments are recognised in the Charity's balance sheel when the ¢harty becomes party to the contractual provisions of the Instwmenl, Financial assets and liabiliti@s are offset, wlih the n8t amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an int8ntion to settle on a net basis or lo realise the asset and settle the liability simultaneously. Basic financlal assets BasiG financial assels. which include debtors and cash and bank balances, ar8 initially measured at transaction price including transaction costs and ar8 subsequently cathed at amortised cost using the effective interest method unless tha arrangement constitut8s a financlng transaction, where the transaction Is maasured at the present value of the future receipts discounled at a market rate of interest. Financial assets classlfied as receivable within one year are not amortised. 10-
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policlos {Continuodl Bas1¢ flnan¢ial liabilities Basic financial Itabilitie8. including cr8ditotE and bank loans are initialty re¢ognlsed at transactlon prfce unles5 th8 arrang8m8nt constitutes a financing transaction. where the debt instrument is measured at the present valu8 of the futur@ payments dlscounted at a markol rats of interest. Financial liabilities classified as payable wllhln one year are not amortlsed. Debt instrum8nls ar8 subsequently carried at amortlsed cost, using the effective Interest rats method, Trade creditors are obligations to pay for goods or services that have been acqulred in the ordlnary course of operatlons from suppliers. Amounts payable are classified as current liabilllles If payment Is due wllhln one year or less. If nol, th6y are presented as non-curr8nt liabilllies. Trade creditors are recognised initially al transaction price and subsequently measured at amortised cost usSng the effective interest method. Derecognition of financialjiabilities Financial liabilili@s are dere¢ognised when the charft$ contractual obligations expire or are dischargéd or cancelled. 2.10 Funds structure All funds h81d ar8 unréstrlcted Income funds. Income from donations and legacie8 Unre3tricted funds 2024 Unrestricted funds 2023 Donations and gifts 40,000 70,000 Income from Invesknents Unrestrlcted Unrestrlcted funds funds 2024 2023 Rental income Income from1Sst¥d investments Interest receivabl8 1,200,792 9,896 32,232 1,328,586 8,344 29,714 1,242,920 1,364,644 Investment income arises from Investment assets held in the UK. 11
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Othor income 2024 2023 Other income 31,637 Expondlturo on raising funds Unrestrleted Unre8trletèd fund8 funds 2024 2023 Trading costs Other trading activities staff costs 164,632 11,233 193.196 9,351 175,865 202.547 Charitable activities 2024 2023 Granl fijnding of aclivlties {see note 10) Govemance costs (see note 8) 1,053,583 15,502 1,066,829 15,760 1,C69,085 1,082.589 Support costs allocated to activities Total 2024 Total 2023 Governance 15,502 15.760 12-
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Support costs allocated to actlvltles {Contlnued) 2024 2023 Goveman¢g cosls comprise: Audlt fees Bookkeeplng fees Bank charges 13,000 2,400 102 12,000 2,400 1,360 15,502 15,760 Net movomont In funds 2024 2023 The net movement in funds is stated after chargingl{crediting)'. F888 payab18 for the audlt of the charity's financlal statements 13,000 12,(M)O 10 Grants payable Grants are payable In furtherance of the charity's objectives and are d8tai18d in a separate publl¢atlon which is available from the Registered Dffice address. 11 Trustees None of the truste@s lor any persons connected wlth them) received any remuneration during the year. Th trustees were not paid or reimbursed for expenses during the year. 12 Employees 2024 Number 2023 Number Employmont costs 2024 2023 Wages and salaries 11,233 9,351 Therè wéra no èmployees whose annual remuneration was more than £60.000. 13-
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 q3 Gains and108sgs on Investments Unrnstricted Unrestricted fund$ funds 2024 2023 Gainsl{losses) arislng on,, Revaluation of investments 432,383 1367,969> 14 Taxation The Gharily Is exempt from taxation on Its activities because all Its income is applied for charitable purposes. 15 Othor gxponditurn 2024 2023 Financing costs 1,132 320 Flnanclng costs represents interest paid on Boun Ba¢k Loan scheme. 16 Invo8tmont proporty 2024 Fair value At 2 October 2023 Net gains or losses through fair value adjustments 9,800,000 390,000 At 30 SoPt6mber 2024 9,990,000 Inveslrnent properties comprise fraehold and long leasehold properlles. The fair value of the investment PropereS al 30 Septsmber 2024 is £9,990,000 (2023 - £9,600,000) and has been arrived at on the basis of a valuation Carrled out at this date by H. Last, a truslee who is nol a professionally qualified valuer. The valuation was arrived al by r8ference to market evidence of transaction prices for similar propertiès in its localion and tskes into account tha state of the rental market in thg area whgre the property is situated. 14-
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 17 Fixed assot Inveslments Llsted Investsnents Cost or valuation At 2 October 2023 & 30 September 2024 261,249 Carrylng amount At 30 Sepiember 2024 261.249 At 01 October 2023 261.249 18 Debtors 2024 2023 Amounts falllng due within one year: Other debtors Prepayments and accru8d income 416,166 19,963 613,449 132,641 426,129 746.09D other debtors held by the charlly as at 30 September 2024 includes a bridging loan of £323,000 (2023 £520,000) given to third parties which was repaid in full tog8ther with th8 inter@st after the year end. 19 Credltors: amounts falllng due withln one year 2024 2023 Other taxatlon and social securily Other ¢redStors Accruals and deferred income 22,871 (1 CI,009) 129,493 27,680 12,051 137,913 142.355 177,644 20 Unrgstrictgd funds The unrestTiCted funds of the charity comprise the unexpended balan¢e$ of donatlons and grants which are nol subject to specifi¢ conditions by donors and grantors as to how they may be used. These include designated fijnds which have been set aside out of unrestricled fund8 by the trustees for spacific purposes. At 2 Octobèr 2023 Incoming Resources resourGes expended Transfers Gains and losses At30 Septembor 2024 General funds 10.508,388 1,314,557 <1,246,082) 1,602 432,383 11,010,848 15-
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 20 Unrestrlcted funds (Conllnued Prevlous yoar: At 2 October 2022 Incomlng reSoUrS Resourc88 expendod Transfer8 Gains and At 1 October losses 2023 General funds 10,719,004 1,434,644 (1,285,456) 8,185 1367,969) 10,508,388
PREMIERQUOTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 21 Related party trnnsactions Transactions viith rnlated partles DuTing the year the charity charg8d interest of £5,722 (2023 - £4,797) on a loan to Clalmworth Limited, registered UK ¢hartty. The loan is repayable on demand. The amount of loan outstanding al the balance sheet date included In debtors was £80,000 {2023- £80,0(X)l and accrued loan Interest included In debtors was £16,674 (2023- £10,952). H Last is the trustee and the director of both the charities, During the year the charity paid rent and service d)arges of £0 (2023 - £11,000) to Findlay Inveslm8nts Limit8d. 8 company in which H. Last, the trustee is also a director. At the year end the charlty owed £65,913 (2023 - £65,913) to Findlay Investments Limited. During the year the Charity receiv8d donations of £40,000 (2023 - £70,000) from Debenet Limited, a company in which H. Last, the trust8e is also a director, 22 Analysls of Changes In net funds The charity had no material debt during the year. 23 Cash generated from operations 2024 2023 Surplusl(d8ft¢it) for the year 502,460 1210,616) Adjustments for.. Investment income recognised in statement of financial activities Falr value gains and losses on investm&nts {1,242,920) (1,364,644) (432,383) 367,969 Mov8rn8nts in working capital: Decrease in deblors (Decrease) in credliors 112,961 (35,289) 158,344 (281.0291 Cash absoybod by operations (1,095,171) (1,329,976) 17-