REGISTERED COMPANY NUMBER: 02328974 REGISTERED CHARITY NUMBER: 803149
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
Holdville Limited
Purcells Chartered Accountants 4 Quex Road London NW6 4PJ
Holdville Limited
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | to | 5 |
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
Holdville Limited
for the Year Ended 31 March 2023
Report of the Trustees
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 31 March 2023. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
02328974 (Not specified/Other)
Registered Charity number
803149
Registered office
4 Quex Road London NW6 4PJ
Trustees
Mrs. H. Rokach (deceased 2.7.22) Mrs. E. Hoffman Mrs. M. Feingold Mrs. A. Gefilhaus Mrs. N. Brenig
Company Secretary
Independent Examiner
Purcells Chartered Accountants 4 Quex Road London NW6 4PJ
Approved by order of the board of trustees on 11 March 2024 and signed on its behalf by:
Mrs. M. Feingold - Trustee
Page 1
Independent Examiner's Report to the Trustees of Holdville Limited
Independent examiner's report to the trustees of Holdville Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
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.
D. Zaroovabeli, A.C.A
Purcells Chartered Accountants 4 Quex Road London NW6 4PJ
Date: .............................................
Page 2
Holdville Limited
Statement of Financial Activities for the Year Ended 31 March 2023
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Charitable activities Charitable donations paid Support costs Investment management costs Total Net gains on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.23 Unrestricted fund £ 249,664 5,485,377 4,140 55,033 5,544,550 160,971 (5,133,915 ) 7,088,684 1,954,769 |
31.3.22 Total funds £ 287,567 |
|---|---|---|
| 227,147 353 93,432 |
||
| 320,932 | ||
| 73,661 | ||
| 40,296 7,048,388 |
||
| 7,088,684 |
The notes form part of these financial statements
Page 3
Holdville Limited
Balance Sheet 31 March 2023
| Notes FIXED ASSETS Tangible assets 6 Investments 7 CURRENT ASSETS Debtors 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
31.3.23 Total funds £ 1,150,011 7,544 1,157,555 4,112 966,075 970,187 (172,973) 797,214 1,954,769 1,954,769 1,954,769 1,954,769 |
31.3.22 Total funds £ 5,825,014 7,311 5,832,325 4,039 1,422,493 1,426,532 (170,173) 1,256,359 7,088,684 7,088,684 7,088,684 7,088,684 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.
The notes form part of these financial statements
continued...
Page 4
Holdville Limited
Balance Sheet - continued
31 March 2023
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 11 March 2024 and were signed on its behalf by:
M. Feingold - Trustee
The notes form part of these financial statements
Page 5
Holdville Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Rents received Dividend income Interest receivable |
31.3.23 £ 245,748 278 3,638 249,664 |
31.3.22 £ 286,845 458 264 |
| 287,567 |
Page 6
continued...
Holdville Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
3. GRANTS PAYABLE
4.
| CHARITABLE DONATIONS | 31.3.23 | 31.3.22 |
|---|---|---|
| Achisomoch Aid Company Limited | 11,500 | |
| Before Trust | 5,000 | |
| Beis Chinuch Primary School Limited | 2,250 | |
| Beis Soroh Schenierer Seminary | 7,400 | |
| Belz Foundation | 500 | |
| Comet Charities | 29,000 | |
| Hatzolah Northwest Trust | 3,000 | |
| Kupat Gemach Chaim | 500 | |
| Keren Amha | 1,778,000 | |
| Kisharon Limited | 3,600 | |
| L & N Brenig Trust | 1,844,000 | |
| Matan Esther Limited | 1,779,800 | |
| Meonorah High School | 3,050 | |
| Misaskim | 500 | |
| Moreshat Hatorah | 5,000 | |
| North London Welfare & Educational | 5,000 | |
| Sassov Beis Hamedrash | 100 | |
| VHLT Limited | 2,500 | |
| Widow Charity & Rehabilitation Trust | 4,000 | |
| Other | 396 | |
| Total for the year | 5,485,096 | 220,763 |
NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
31.3.23 £ 3 |
31.3.22 £ 4 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
continued...
Page 7
Holdville Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
6. TANGIBLE FIXED ASSETS
| COST At 1 April 2022 Disposals At 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 |
UK freehold and leasehold properties and improvements £ 5,825,000 (4,675,000 ) 1,150,000 - - - 1,150,000 5,825,000 |
Fixtures and fittings £ 40,998 - 40,998 40,984 3 40,987 11 14 |
Totals £ 5,865,998 (4,675,000 ) 1,190,998 40,984 3 40,987 1,150,011 5,825,014 |
|---|---|---|---|
The UK freehold and leasehold properties and improvements are shown at valuation. Their original cost/transfer value is £3,819,732.
7. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Quoted | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 April 2022 | 12,643 |
| Revaluation for this year | 233 |
| At 31 March 2023 | 12,876 |
| PROVISIONS | |
| At 1 April 2022 and 31 March 2023 | 5,332 |
| NET BOOK VALUE | |
| At 31 March 2023 | 7,544 |
| At 31 March 2022 | 7,311 |
There were no investment assets outside the UK.
The fixed asset investments are recognised at valuation.
continued...
Page 8
Holdville Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments & accrued income 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Rent received in advance Related party loan - Rokach Family Charitable Trust Directors' loan account Accruals 10. MOVEMENT IN FUNDS At 1.4.22 £ Unrestricted funds General fund 7,088,684 TOTAL FUNDS 7,088,684 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 249,664 (5,544,550 ) TOTAL FUNDS 249,664 (5,544,550 ) Comparatives for movement in funds At 1.4.21 £ Unrestricted funds General fund 7,048,388 TOTAL FUNDS 7,048,388 |
31.3.23 £ 4,112 31.3.23 £ 6,250 119,514 38,749 8,460 172,973 Net movement in funds £ (5,133,915 ) (5,133,915 ) Gains and losses £ 160,971 160,971 Net movement in funds £ 40,296 40,296 |
31.3.22 £ 4,039 31.3.22 £ - 119,514 35,213 15,446 170,173 At 31.3.23 £ 1,954,769 1,954,769 Movement in funds £ (5,133,915 ) (5,133,915 ) At 31.3.22 £ 7,088,684 7,088,684 |
|---|---|---|
continued...
Page 9
Holdville Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 287,567 287,567 |
Resources expended £ (320,932) (320,932) |
Gains and Movement losses in funds £ £ 73,661 40,296 73,661 40,296 |
|---|---|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 10
Holdville Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| INCOME AND ENDOWMENTS Investment income Rents received Dividend income Interest receivable Total incoming resources EXPENDITURE Charitable activities Charitable donations paid Investment management costs Rates Insurance Light and heat Repairs,maintenance & cleaning Telephone,pps & advertising Collection expenses Management expenses Legal & professional fees Depreciation of fixed assets Support costs Other Audit fees Accountancy fees Bank charges & interest Total resources expended Net expenditure before gains and losses Realised recognised gains and losses Realised gains/(losses) on investment property Unrealised gain on revaluation of fixed assets investments Net (expenditure)/income |
31.3.23 £ 245,748 278 3,638 249,664 249,664 5,485,096 (8,743) 6,284 25,429 16,997 2,184 1,352 10,397 1,130 3 55,033 - 4,140 281 4,421 5,544,550 (5,294,886 ) 160,738 233 (5,133,915 ) |
31.3.22 £ 286,845 458 264 287,567 287,567 220,763 14,732 5,609 10,205 44,337 2,132 1,248 15,165 - 4 93,432 1,440 4,944 353 6,737 320,932 (33,365) 71,996 1,665 40,296 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 11