REGISTERED COMPANY NUMBER: 01549594 (England and Wales) REGISTERED CHARITY NUMBER: 803104
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 June 2021
for
Nagrys Limited
Martin+Heller 5 North End Road London NW11 7RJ
Nagrys Limited
Contents of the Financial Statements for the Year Ended 30 June 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
Nagrys Limited
Report of the Trustees for the Year Ended 30 June 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity was formed for the advancement of orthodox Jewish faith and the relief of poverty in the orthodox Jewish community.
The charity is also involved in raising funds for relief of poverty and other religious activities and for this there were grants made during the year.
Significant activities
There were no significant activities to report this year.
Public benefit
The trustees confirm their compliance with the duty to have regard to the public benefit guidance published by the Charity Commission when reviewing the charity's aims and objectives in planning future activities.
ACHIEVEMENT AND PERFORMANCE Charitable activities
The trustees consider the performance of the charity this year to be satisfactory. Substantial funds have been granted to institutions during the period from contribution received from donors.
The Statement of Financial Activities shows a net deficit of £74,532 after making total grants of £149,710 and the reserves stand at deficit of £52,387.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the memorandum and articles of association and constitutes a limited company, limited by guarantee as defined by the Companies Act 1985.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
01549594 (England and Wales)
Registered Charity number
803104
Registered office
5 North End Road London NW11 7RJ
Trustees
Mrs H R Rokach Mrs M S Monderer E Feingold R Nevies
Page 1
Nagrys Limited
Report of the Trustees
for the Year Ended 30 June 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Martin+Heller 5 North End Road London NW11 7RJ
Approved by order of the board of trustees on 20 May 2022 and signed on its behalf by:
R Nevies - Trustee
Page 2
Independent Examiner's Report to the Trustees of Nagrys Limited
Independent examiner's report to the trustees of Nagrys Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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 accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters 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.
F Martin ICAEW Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
Nagrys Limited
Statement of Financial Activities for the Year Ended 30 June 2021
| 30.6.21 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 76,884 EXPENDITURE ON Charitable activities Grants to institutions 149,710 Other 1,707 Total 151,417 NET INCOME/(EXPENDITURE) (74,533) RECONCILIATION OF FUNDS Total funds brought forward 22,146 TOTAL FUNDS CARRIED FORWARD (52,387) |
30.6.20 Total funds £ 38,185 11,080 1,147 12,227 25,958 (3,812) 22,146 |
|---|---|
The notes form part of these financial statements
Page 4
Nagrys Limited
Balance Sheet 30 June 2021
| 30.6.21 | 30.6.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Investments | 5 | - | 1,680 |
| Cash at bank | 3,134 | 77,546 | |
| 3,134 | 79,226 | ||
| CREDITORS | |||
| Amounts falling due within one year | 6 | (55,521) | (57,080) |
| NET CURRENT ASSETS/(LIABILITIES) | (52,387) | 22,146 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | (52,387) | 22,146 | |
| NET ASSETS | (52,387) | 22,146 | |
| FUNDS | 7 | ||
| Unrestricted funds | (52,387) | 22,146 | |
| TOTAL FUNDS | (52,387) | 22,146 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 20 May 2022 and were signed on its behalf by:
R Nevies - Trustee
The notes form part of these financial statements
Page 5
Nagrys Limited
Notes to the Financial Statements for the Year Ended 30 June 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. GRANTS PAYABLE
| GRANTS PAYABLE | ||
|---|---|---|
| 30.6.21 | 30.6.20 | |
| £ | £ | |
| Grants to institutions | 149,710 | 11,080 |
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continued...
Nagrys Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2021
2. GRANTS PAYABLE - continued
The total grants paid to institutions during the year was as follows:
| Menorah Foundation School Donations less than £1,000 Shir Chesed Beis Chasdei Sholom Chasdei Aharon Limited Start Upright Tchabe Kollel Limited The College Keren Chochmas Schloma trust Keren Hatzolas Doros |
30.6.21 £ 3,750 1,210 28,000 16,000 10,000 27,750 27,500 4,000 12,000 19,500 149,710 |
30.6.20 £ 6,600 2,480 2,000 - - - - - - - |
|---|---|---|
| 11,080 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 38,185 |
| EXPENDITURE ON | |
| Charitable activities | |
| Grants to institutions | 11,080 |
| Other | 1,147 |
| Total | 12,227 |
| NET INCOME | 25,958 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | (3,812) |
| TOTAL FUNDS CARRIED FORWARD | 22,146 |
continued...
Page 7
Nagrys Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2021
5. CURRENT ASSET INVESTMENTS
| Sundry loans 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accrued expenses 7. MOVEMENT IN FUNDS At 1/7/20 £ Unrestricted funds General fund 22,146 TOTAL FUNDS 22,146 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 76,884 TOTAL FUNDS 76,884 Comparatives for movement in funds At 1/7/19 £ Unrestricted funds General fund (3,812) TOTAL FUNDS (3,812) |
30.6.21 £ - 30.6.21 £ 54,501 1,020 55,521 Net movement in funds £ (74,533) (74,533) Resources expended £ (151,417) (151,417) Net movement in funds £ 25,958 25,958 |
30.6.20 £ 1,680 30.6.20 £ 56,180 900 57,080 At 30/6/21 £ (52,387) (52,387) Movement in funds £ (74,533) (74,533) At 30/6/20 £ 22,146 22,146 |
|
|---|---|---|---|
continued...
Page 8
Nagrys Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2021
7. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 38,185 | (12,227) | 25,958 |
| TOTAL FUNDS | 38,185 | (12,227) | 25,958 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/7/19 | in funds | 30/6/21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (3,812) | (48,575) | (52,387) |
| TOTAL FUNDS | (3,812) | (48,575) | (52,387) |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 115,069 115,069 |
Resources Movement expended in funds £ £ (163,644) (48,575) (163,644) (48,575) |
|---|---|---|
8. RELATED PARTY DISCLOSURES
During the year the company received grants of £36,884 , (2020 - £23,185) )from Chilgrange Ltd and £40,000, (2020 - £15,000) from Hartington Estates Ltd. The director Robert Nevies is also a director of both of these companies.
Page 9