COMPANY REGISTRATION NUMBER: N1057073 CHARITY REGISTRATION NUMBER: NIC101043 Atlas Memorial Limited Company Lirnited by Guarantee Unaudfited Financial Statements 31 January 2023
Atlas Memorial Limited Company Limited by Guarantee Financial Statements Year ended 31 January 2023 Page Trustees, annual report (IncoOratIng the director's report) Independent exaTniner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 16 Notes to the detailed statement of financial activities 17
Atlas Memorial Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 January 2023 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statsments of the charity for the year ended 31 January 2023. Reference 2nd administratlve details Registered charity name Charity registration number NICIO1043 Company registration number N1057073 PrincipaI office 86 Filey Avenue London N166JJ Atlas Metnorial Limited Registered otrice The Ewart 3 Bedford Square Belfast BT2 7EP The trustees Berish GTOSS Israel Gross Joel Gross Abraham Gross Company secretary Structures governance and management The charity is constituted as a company limited by guarantee and as such. its governing documents are its Memorandum and Articles of Association. Berish Gross The organisation is run by the governors who are trustees. Every trustee holds office for life or shall cease to hold office by virtue of Article 35 of the Articles of Association. None of the trustees have any beneficial interest in the company. This charity was set up to support the activities of organisations promoting and advancing Orthodox Judaism and during the year distributed grants totalling £1,213,500 (2022: £590,500) in aid of such activities. The charity's wholly-owned subsididry undertaking, Wharf Properties Limited. is engaged in property developTnent and the trllstees consider its results for the year ended 31 January 2023 to be satisfactory.
Atlas Memorial Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (Èonrfnued) Year ended 31 January 2023 Objectives and activities The objects of the charity are: i. the advancement and furtherance of the Jewish Religion and Jewish religious education and the alleviation of poverty among the Jewish Community throughout the world. ii. other charitable activities that the trustees may frotn time to time determine. Ain, objectives and activities for public benefit The trustees confIrm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grant making policy for the year. This charity was set up to support the activities of religious Jewish organisations especially in the field of education. The trustees identify institutions and organisations which meet its criteria and regularly support a number of these institutions and organisations, which themselves are growing worldwide. The charity is also supportive of organisation5 which are solely committed to the relief of poverty. Such organisations assist needy Jewish families financially and also rhrough distribution of basic needs. The income of the charity is derived from investments and donations. The trustees continued their support of those organisations deemed to promote the objects of this charity.
Atlas Memorial Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (eonthued) Year ended 31 January 2023 Achievements and performance During the year. the charity continued its activities and maintained its SUPPOrt of religious educational and other charitable institutions in the United Kingdom and abroad. Plans for future periods The charity plans continuing the activities outlined above ill the forthcorning years subject to incoming resources being tnaintained at a satisfactory level. It is the trustees, aim to ensure future income stream by the acquisition of investments. the income of which will Teduce its dependence on voluntary donations. Grant making policy The charity accepts applications for grants from representatives of various charities. which are reviewed by the trustees on a Tegular basis. Investment powers and policy In accordance with the governing document, the charity has the power to make any investments. which the trustees see fit. The trustees regularly review th¢ charity's position and needs in respect of the investment policy. Reserves policy The reserves of the charity are represented by the unrestricted funds. It is the policy of charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year. Fixed Assets The movements in investments are fully reflected in note 10 to the financial statements. Investments The charity's investment properties are held by Wakefield Investments (UK) Limited, which act as bare trustee. The income and expenditure derived from this property investment is reflected in Atlas Memorial Limited's financial stateTnents. The cotnpany also owns 100% of the ordinary share capital of Wharf Properties Limited and 25% of the ordinary share capital of Chester Beech Limited. These are a property development company and property investment company respectively. and both are incorporated in Great Britain and registered in England. Financial review The charity receives income from its investments and from voluntary donations. The charity's incorning resources were £303,825 for the year (2022: £190,663).
Atlas Memorlal Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 January 2023 Small company provtsions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companics exemption. The trustees. annual report was approved on 20 October 2023 and signed on behalf of the board of trustees by". BcTish Gross Trustee
Atlas Memorial Linlited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Atlas Memorial Limited Year ended 31 January 2023 I report to the trustees on my examination of the financial statements of Atlas Memorial Limited ('the charity,) for the year ended 31 January 2023. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the fInancial statements in accordance with the requirements of Charities Act (Northern lTeland) 2008 (the .2008 Act.) and the Companies Act 2006 ('the 2006 Act,). You are satisfied that the accounts of the company are Dot required by charity or company law to be audited and have chosen instead to have an independent examination. 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 exaTnination of the charity's financial statements as Carled out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Con]mission foi Northern Ireland under section 65(9)(b) of the 2008 Act. Independent e91ner'S statement Since the charity's gross income exceeded £250.000 your exarniner must be a n]ember of a body listed in section 65 of the 2008 Act. I confinn that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which 15 one of the listed bodies. I have completed my examination. I confirm that llo matlers have come to my attention in connection with my examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act. or the financial statements do not accord with those records- or the financial statements 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 financial statements 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 Financia] Rewiting Standard applicable in the UK and Republic of Ireland (FRS 102). I confinn that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be Teached. Mr Dov Harris FCA Independent Examiner Cohen Arnold New Burlillgton House 1075 Finchley Road London NWI I OPU 20 October 2023
Atlas Memorial Limited Company Limited by Guarantee Statement of Financial Activities (induding income and expenditure account) Year ended 31 January 2023 2023 2022 Unrestricted funds Total funds Total funds Note Income and endowments Donations and legacies Investment income 102,500 201,325 102,500 201,325 303,825 75,(K)O 115,663 Total income 303,825 190.663 Expenditure Expenditure on charitable activities Total expenditure 70 1.222,908 1,222,908 1222,908 1222,908 601,676 601.676 Net gains on investments (408,492) (408,492) (314,231) Net expenditure and net movement in funds (510,591) (510,591) (96,782) Reconciliation of funds Total funds brought forward Total funds carried forward 3,363,067 3J63,067 2052,476 3,459,849 3,363,(7 2,852,476 The scatement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notcs on pages 8 10 14 form part of these financlal statements.
Atlas Memorial Limited Company LiD)fited by Guarantee Statement of Financial Posfition 31 January 2023 2023 2022 Note Fixed assets Invegtments 13 799,75S 337,513 Current assets Debtors Ca.%h at bank and in halld 14 2,295.709 49,216 3.524.803 35.826 2,344,925 3,560.629 Creditors: amounts falling due thin one year 15 291204 535.075 2,051721 2.852A76 3,025,554 Tolal 8&sets les5 current liabilities 3.363.067 Funds of the charlty Unrestricted funds 2,852,476 2,852,476 3.363,067 Total charity funds 16 3.363.17 For the year ending 31 January 2023 th¢ charity was entitled to exemption from audit under section 477 of the Companies Acr 2006 relating to small companAes. Direcrors, responsibilities: The member has not required the company ro Ob1 aT] audir of its financial statements for the year in question in accordance with section 476; The directors acknowledge their responsibilities for complying with the requirernents of the Act with reSpt 10 accounting records and the Preparation of financial si&temenls. These financial statements have been prepared in accordance wiih the provisions applicable to companies subject to the small cornpanies, regime. These financial stdtcments were approved by the board of trusiees and authorised for issue on 20 October 2023. and are signtd on bebalf of the board by". Berish Gross Truslce The notes oth pagt5 8 to 14 form part ot these financial sthtements.
Atlas Memorial Limited Company Limited by Guarantee Notes to the Finaneial Statements Year ended 31 January 2023 General information The charity is a public benefit entity and a private company limited by guarantee. registered in Northern Ireland and a tegistered chillity in Northern Ireland. The address of the registered office is The EwarL 3 Bedford Square, Belfast, BT2 7EP. Statement of compliance These financial statements have been prepared in compliance with FRS 102. The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of beland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value throu1 income or expenditure. The financial stat¢ment5 are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Consolidation The charity is not required to prepare consolidated accounts in accordance with the Charities Act 2011, and has taken advantage of the option not to prepare consolidated financial statements contained in Seccion 398 of the Companies Act 2006 on the basis that the charity and its subsidiary undertakings comprise a small group. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstallces. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's puryoses. Designated fund5 are unrestricted funds earmarked by the trustees for particular future project or commitfftent. Restricted funds are subjected to resttictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of two sub-classes- restricted income funds or endowment funds.
Atlas Memorial Limited Company Limited by Guarantee Notes to the Financial Statements (tolltinued) Year ended 31 January 2023 Accounting policies (condnued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity. it IS Probable that the economic benefjts associated with the transaction will flow to the charity and the avnount can be reliably measured. The following specifjc policies are applied to particular categories of income- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be me&qured reliably. legacy income i.s recognised when receipt is probable and entitlernent is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No arnounts are included for the contributlOD of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular pUOse and returned if unspent. in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities. events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable aclivities includes all costs incuffed by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expendituie categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistellt Investments Shareholdings acquired are initially recorded at cost and subsequently included at trustees, best estimate of fair value based on the net asset value. The net assets of the Subsidiary Undertakings reflect fair values of its underlying properties held for investment. any surplus or deficit on revaluation is recogni5ed in the SOFA.
Atlas Memorial Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 January 2023 Accounting policies (cOned) Investments in associates Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impaiment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distribulions received from the investment are recOASed as income without regard to whether the distributions are from accumulated profIts of the asslate arising before or after the date of acquisition. Investments in joint ventures Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairnient losses. Investrnents in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to rneasure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition. Impairnient of fixed assets A review for indicators of impaiment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairnient testing, when it is not possible lo estimate the recoverable amount of an individual asset, an estimate is made of the Tecoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the stnallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or 0upS of assets. For impairment testing of goodwill. the goodwill acquired in a business cornbination is. from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination. irrespective of whether other assets OT liabilities of th¢ charity are assigned to those units. Financial instruments A financial asset or a financial liabiliiy is recognised only when the charity becomes a party to the contractua] provisions of the instrument. io-
Atlas Memorial Limited Company Limited by Guarantee Notes to the Financial Statements (tontiKued) Year ended 31 January 2023 Accounting policies (conixrtuÉd) Finanei21 instnunents (continued) Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be tneasured reliably, the investment is subsequentIy measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at ost less impairment. Other fInaDcial instruments. including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate. in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other fInancial instruments are subsequently measured at fair value, with any changes reco]sed in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairnient at the end of each reporting date. there is objective evidence of impaim]erAt. an impairnient loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impaimient. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Limited by guarantee This company is limited by guarantee and has no share capital. The liability of each Tnember in the event of winding up is limited to £10. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Donations Donations 102,500 101500 75.IK)O 75.(K)O li
Atlas Memorial Limited Company Limited by Guarantee Notes to the Financial Statements (¢onliR&ed) Year ended 31 January 2023 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Other interest receivable Foreign exchange gain 72.253 129,072 72,253 129,072 201,325 87.828 27,835 87.828 27.835 201.325 115,663 115,663 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Charitable donations Support costs 1,213,500 9,408 1,222.908 1213,500 9,408 I,222,8 590,500 11,176 601,676 590,500 11,176 601,676 Expenditure on charitable activities by activity type Grant funding of activities Support costs Total funds 2023 Total fund 2022 Charitable donations Governance costs 1,213.500 12135(K 9,408 1222,908 590,500 11.176 9,408 1,213,500 9,408 601,676 All grants were paid to institutions in support of the relief of poverty, the advancement of health, the advancement of Jewish religion and the advancement of education. Included in the charitable activities are the following material grants made during the year: 2023 Asser Bishvil Foundation Notzar Chesed Other donations less than £60.000 individually or in aggregate Total 393,01 178,0 642,500 1213,500 Net gal$ on investments Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Unrealised gainsl{losses) on other investments 408,492 408,492 314,231 314,231 J2-
Atlas Memorial Limited Company Limited by Guarantee Notes to the Financial Statements (cortdniiedj Year ended 31 January 2023 10. Independent examination fees 2023 2022 Fees payable to the independent examiner for: Independent examination of the financial statements 8,600 10,500 I l. Staff costs The average head count of employees during the year was Nil {2022: Nil). No employee received employee benefits of more than £60,0(M) during the year (2022: Nil). 12. Trnstee remuneration and expeeS No trustee received any remund¢ration during the year. The charity did not meet any individual expenses incurred by the trnstees for services provided to the charity. 13. Investments Other investments Cost or valuation At l February 2022 Additions Fair value movements 337513 462242 799,755 At 31 January 2023 Impairnlent At l February 2022 and 31 January 2023 Carrying amount At 31 January 2023 At 31 January 2022 799,755 337,513 All investment5 shown above are held at valuation. 14. Debtors 2023 2022 Prepayments and accrued income Ocher debtors J911 2293,798 2295,709 4,166 3,520,637 3.524.803 13.
Atlas Memorial Limited Company Limited by Guarantee Notes to the Financial Statements (Conted) Year ended 31 January 2023 15. Creditors: amounts falling due within one year 2023 2022 Amounts owed to undertakings in which the charity has a participating interest Accruajs and deferred income Other Creditors 75 10,000 282,129 292,204 75 I o,cK)o 525,000 535,075 16. Analysis of charitable funds Unrestricted funds At l February 2022 Gains and At losses 31 January 2023 Income Expenditure General funds 3,363,067 303,825 (1.222,908) 408,492 20S2,476 At l February 2021 Gains and At losses 31 January 2022 Income Expenditure General funds 3,459.849 190,663 (601.676) 314,231 3.363,067 17. Analysis of net assets between funds Unrestricted Total Funds Funds 2023 Investments Current assets Creditors less than l year 799,755 799,755 2,344,925 2J44,925 (292,204) (292,204) 2,852,476 2*52,476 Net assets Unrestricted Total Funds Funds 2022 Investments Current assets Creditors less than l year 337,513 337,513 3560,629 3,560,629 (535,075) (535,075) 3,363,067 3,363,067 Net assets 14-
Atlas Memorial Limited Company Limited by Guarantee Management Information Year ended 31 January 2023 The following pages do not form part of the financial statements. Is-
Atlas Memorial Llmited Company Limlted by Guarantee Detailed Statement of Financial Activities Year ended 31 January 2023 2023 2022 Income and endowments Donatlons and legacies Donations 101500 75,(DO nvestment income Other interest receivable Foreign exchange gain 72253 129,072 201J25 87,828 27,835 115.663 Total income 303,825 190.663 Expenditure Expenditure on charitable activities Other establishment Legal and professional fees Charitable donations 708 8,71M 1213500 1222,908 676 10,500 590,500 601.676 Total expenditure 1222908 601,676 Net gains on investments Unrealised gainsl(losses) on other investments (408,492) (314.231) Net expenditure (510,591) (96,782) 16-
Atlas Memori21 Limited Company Limited by Guarantee Notes to the Detailed Statement of Financlal Activities Year ended 31 January 2023 2023 2022 Expenditure on charitable actAvities Charitable donations Grantfunding activilies Charitable donations 1213500 590.51X) Governance costs Office admiThistrdtive costs Accountancy fees 708 676 10,500 11.176 Expenditure on charitable activities 1,222908 601.676 17-