COMPANY REGISTRATION NUMBER: N10571Y73 CHAIUTY REGISTRATION NUMBER: NIC101043 Atlas Memorial Limited Company Lirnited by Guarantee Unaudited Financial Statements 31 January 202A
Atlas Memorial Limited Company Limited by Guarantee Financial Statements Year ended 31 Janllary 2024 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The folloiving pages do not forni part of the financial statements Detailed statement of financial activities 17 Notes to the detailed statement of financial activities 18
Atlas Memorial Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 January 2024 The trustees, who are also the directors for the purposes of company law. present their report and the unaudited financial statements of the charity for the year ended 31 January 2024. Reference and adn)inistrative details Atlas Memoria] Limited Registered charity name Charity registratxon number Company registration number N1057073 Principal office 86 Filey Avenue London N16 6JJ NIC101043 Registered office The Ewart 3 Bedford Square Belfast BT2 7EP The trustees Berish Gross Israel Gross Joel Gross Abraham Gross Company secretary Structiire? 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. 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 beneficia] 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 £1.081,000 (2023: £1.213.500) in aid of such activities. The charity's wholly-owned subsidiary undertaking. Wharf properti Limited. is engaged in property development and the tTllStees consider its results for the year ended 31 January 2024 to be satisfactory. Berish Gross
Atlas Memorial Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 January 2024 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 tlyoughout the world. ii. other charitable activities that the trustees may from time to time detennine. Aill, 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 aDd organisations, which themselves are growing worldwide. The chlty is also supportive of organisationg which ar¢ solely committed to the re]ief of EK>verty. Such organisations assist needy Jewish families financially and also through 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 Uncoryorating the Director's Report) (¢onrinu8d) Year ended 31 January 2024 Aehievements and perforniance During the year, the chwity 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 in the forthcoming years subject to incoming resoUrS being maintained at a satisfactory level. It is the trustees, aim to ensure future income stream by the acquisition of investments. the income of which will reduce 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 regular 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 the charity's position and needs in respect of the investment policy. Reserves policy The reserves of the charity are represented by the unr¢stricted 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 comrnitments of the chIlY 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 stat¢ments. Investments The company owns 100% of the ordinary share capital of Wharf Properties Limited and 25% of the ordinary share capital of Chester Beech Limited. These ate a property development company and property investtnent company respeclively, and both are incorporated in Great Brltain and registered in England. The income and expenditure derived from these investments are reflected in Atlas Memoriaj Limited's financial statements. The charity also PTeviously had an investment held by Wakefield Investments (UK) Limiied, which acted as a bare trustee. This investment was sold in the previous accounting perid and the company was dissolved after this accounting period. Financial review The ChltY receives income from its investments and from volUntY donations. The charity's incoming resources were £171.364 for the year (2023: £303.825).
Atlas Memorlal Lin)Ited Company Limited by Guarantee Thtees, Annual Report (Tncorporating the Director's Report) {¢oNlimied) Year ended 31 JAnuary 20 Small compally provtslons This reoort has been ep8ttd in accordance with the provisions applicable to companies entided to the small companies exemption. The trustees, annual report was approved on 8 October 2024 8nd Sied on behalf of the board of tSteeS by: JoeI Gross Trnstee
Atlas Memorial Limited Company Limited by Guarantee Independent Examiner's Rep)rt to the Trnstees of Atlas Memorial Limited Year ended 31 January 2024 I report to the trustees on my examination of the financiaI statements of Atlas Memorial Limited ('the Chlty,) for the year ended 31 January 2024. RÉsponsibilities 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 fjnancial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the .2008 Act,) and the Companies Act 2006 ('the 2W6 Act,). You are satisfied that the accounts of the company are not 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 iequired to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I ieport in Tespect of my examination of the chaiity's financial statements as cattied Ollt under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland undei section 65(9)(b) of the 2(K)8 Act. Independent examiner's statement I have completed my examination. I confirm that no matt¢rs have come to my attention in connectioIi with my examination giving me cause to believe that in any nthterial respect: accounting records were not kept in respect of the charity as requir¢d 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 accouThting 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 preping their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I CODfinn that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Mr Dov Hatris FCA Independent Examiner Cohen Arnold New Burlington House 1075 Finchley Road London NWI I OPU 8 October 2024
Atlas Memorial Limited Company Limited by Guarantee Statement of Financial Activities (induding income 2nd expenditure account) Year ended 31 January 2024 2024 Unrestricted funds Total funds Totaj funds 2023 Note Income and endowments Donations and legacies Investment income 200,OC() (28,636) 200,000 (28,636) 171,364 102.500 201,325 Total income 171,364 303.825 Expenditure Expenditure on charitable activities Total expenditure 7,8 1.090.41XI 1,090,400 1,090,400 1,090,400 1.222,908 1.222,908 Net gains on investrnents (28,602) (28,602) (408.492) Net expenditure and net movement in funds (890,434) (890,434) (510591) Reconciliation of funds Total funds brought forward Total funds carried forward 2,852,476 2,852,476 1,962,042 3.363,067 1,962,042 2,852.476 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pag&% 8 to 15 form part of these financial statements.
Adas Memorial Limited Company Limited by Guarantee Statement of Financial Posltion 31 Janu2ry 2024 2024 2023 Notr Flxed assets Investments 13 546,178 799,755 Current ets Debtors Cash at bank and in hand 14 1,429J82 1.187 1,430,569 2,295,709 49,216 2,344,925 Creditors: amounts falling due within one year Is 14,705 292.204 Net current assets 1,415,864 1,962,042 2.052.721 2,852.476 Total &ssets less Current liabilitles Funds of the charity Unrestricted funds I l)(12.ll42 1,962.042 2.852,476 2.852,476 Total chaty funds 16 For the y¢ar ending 31 January 2024 the ChIlY was entitl¢d to exemption from audit under section 477 of the Companies Act 2006 relating to small colnpanies. Directors, r¢sponsibilities: The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476: The directors acknowledge th¢ir responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prcpared in accordance with the provisions applicable to cornpanies subject to the small companies, regime. These financial statements were approved by the board of tThtees ad authorised for issue on 8 October 2024. and are signed OD behalf of the board by: Joel Gross Trnstee The notes oh pages 8 to 15 forni part of ¢hese financlal statements.
Atlas Memorial Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 January 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Northern beland and a registered charity in Northern Ireland. The address of the registered office is The Ewart, 3 Bedford Square, Belfast. BT2 7EP. Statement of compliance These financial statetnents have en prepated jn compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicitble to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepad on the historical cost basis, as modified by the revaluation of certain financiaj assets and liabilities and investment properties measured at fair value through income or expenditure. The financioj statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainti&s 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 Section 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 assurnptions that affect the atnounts 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 teasonable under the circutnstallces. Fund accounting Unrestricted funds aTe available for use at the discretion of the trustees to further any of the charity's puiposes. Designated funds are unrestTiCted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the tern]s of an appeal, and fall into one of two sub-classes= iestricted income funds or endowment funds.
Atlas Memorial Limited Company Limited by Guarantee Notes to the Financial Statements (corttinued) Year ended 31 January 2024 Accounting policies (contixlltd) Incoming resources All incon]ing resources are included in the statement of financial activities when entitlement has passed to the charity. it is probable that the econotnic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particulat categories of income: income from donations or grants is iecognised when there is evidence of entitlement to the gif¢ receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income frorn donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in wbich case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and seTvices are Tecognised in the accounts when Teceived if the value can be reliably measured. No amounts are included for the contribution 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 theTe is a contractual requirement for it to be spent orl a particular purpose and returned if unspent, in which case it may be regarded as restricted. Rosources 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 Telates: 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 activities includes all costs incunEd by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. including those support costs and costg relating to the governance of the charity apportioned to charitable activities. other expenditure includes all ex[ndItuTe that is neither related to raising funds for the charity nor part of its expendituie on charitable activities. All costs are allocated to expenditure categoTies reflecting the use of the resource. Direct costs attriblltable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable. justifiable alld consistent basis. Investments Shareholdings acquired are initially T¢corded at cost and subsequently included at trustees, best estimate of fair value based on the net &8set valu¢. The net assets of the Subsidiary Undertakings reflect fair values of its underlying properties held for investtnent. any surplus OT deficit on revaluation is recogtLised in the SOFA.
Atlas Memorial Limited Company Limited by Guarantee Not£s to the Financial Statements (toled) Year ended 31 January 2024 Accounting policies (contiBued) Investments in associates Investments in associates accounted foi in accordance with the cost model are recorded at cost less any accumulated impairment 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 thtough incotne or expenditUTe. Where it is impracticable to measure fair value reliably without ulldue cost 01 effort, the cost model will be adopted. Dividends and other distributions received from the investent are recognised as income without regard to whether the distributions ate fiom accumulated piofits of the associate arising before or after the date of acquisition. Investments in joint ventures Investtnents in jointly controlled enlities accounted for in accordance with the cost model are recorded at cost less any accumulated impaitment losses. Investments in jointly controlled entities accounted for in accordance with the fair value m(K]el 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 incorne 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 distributions received from the investment are recognised as income without regd to whetber the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition. Impairment of fixed assets A review for indicators of impairnient 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 accoidingly. Ptioi impairments are also reviewed for possible ieversal at each reporting date. For the purposes of impairn)ent testing, when it is not possible to estimate the recoverable amount of an illdividual asset, an estin]ate is n]ade of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the srnallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the c&£h inflows from other assets or groups of assets. For impainnent testing of goodwill. the goodwill acquired in a business cotnbination 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 or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. io-
Atlas Memorial Limited Company Limited by Guarantee Notes to the Financial Statements {conlinrxd) Year ended 31 January 2024 Accounting policies (eontinued) Financial instnllnents (cortrfttued) Basic financial instruments are initially recognised at the amount receivable OT 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 subsequendy measured at amortised cost. Where investrnents in shares are publicly traded or their fair value can othetwise measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impaiment. Other financial instrun]ents, including derivatives. are initially recognised at fair valu& unless payment for an asset is deferred beyond nornial 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 va]ue of the future payments discounted at a market Tate of interest for a similar debt instrument. Other financlal instruments are subsequently measured at fair value. with any changes recognised 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 impairment at the end of each reporting date. If there is objective evidence of impaimient, an impairnient loss is recognised under the appropriate heading in the statement of financiaI 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 impairment. Other financial assets are either assessed individually OT grouped on the basis of similar credit risk characteristics. Any reversals of impaimient are reeognised immediately, to the extent that the reversal does not result in a caTrying amount of the financial asset that exceeds what the carrying amount would have been had the impairn]enl not previously been recognised. Limited by guarantee This cotnpany is limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10. Donatio$ and legaci£s Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations 200.0(X) 200,000 102,5(X) 102.500 li-
Atlas Memorial Limited Company Limited by Guarantee Notes to the Financial Statements (contirtuedl Year ended 31 January 2024 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable Other interest receivable Foreign exchange gainl(loss) 661 41.927 (71.224) (28,636) 661 41927 (71,224) (28,636) 72,253 129,072 72.253 129,072 201.325 201.325 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Charitable donations Support costs 1.081,000 9.400 1,081,000 9,400 1,090,400 1,213.5(K) 9,408 1,213.5(X) 9.408 1.090,4(X) 1,222,908 1,222,908 Expenditure on charitable activities by activity type Grant funding of activities Support costs Total funds 2024 Total fund 2023 Charitable donations Governance costs 1,081.0 1,081,0(M) 9,400 1,090,400 1,213,500 9,408 9.400 1.081,0(K) 9,400 1,222,908 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". 2024 Asser Bishvil Foundation Notzar Chesed Utry Litnited Low Cost Living Limited Atnounts no greater than £30K individually or in aggregate Total 224,OIM) 125,OIM 60,000 45,000 627,000 1,081,000 12-
Atlas Memorial Limited Company Limited by Guarantee Notes to the Financial Statements Itoptsinuedl Year ended 31 January 2024 Net gains on investments Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Unrealised gainsl(losses) on other investments 28,602 28,602 408.492 408.492 10. Independent examination fees 2024 2023 Fees payable to the independent examiner foi: Independent exarnination of the financial statements 8,700 11. Staff costs The average head count of employees during the year was Nil (2023: Nil). No employee received employee benefits of more than £60.(M)O during the year (2023: Nil). 12. Trustee remuneration and expenses No trustee received any remunderation during the year. The charity did not meet any individual expenses incurred by the trustees for services provided to the charity. 13. Investments Other investments Cost or valuation At l February 2023 Additions Fair value movements 799,755 (253577) 546,178 At 31 January 2024 Impairnlent At l FebrY 2023 and 31 JaDllYAry 2024 Carrying amount At 31 January 2024 At 31 Jalluary 2023 546,178 799.755 All investments shown above are held at valuation. 13.
Atlas Memorial Limited Company Limited by Guarantee Notes to the Financial Statements (conlinued) Year ended 31 January 2024 14. Debtors 2024 2023 Prepayments and accrued income Othet debtors 464 1,428,918 1,429,382 1,911 2,293,798 2,295,709 15. Creditors: amounts failing due within one year 2024 2023 Amounts owed to undertakillgs in which the charity has a participating interest Accruals and deferyed income Other creditors 75 10,000 282.129 10,000 4,679 14,705 292.204 16. Analysis of charitable funds Unrtricted funds At l February 2023 Gains and At losses 31 January 2024 Income Expenditure General funds 2,852.476 171.364 (1,090.400) 28,602 1,962,042 At l February 2022 Gains and At losses 31 January 2023 Income Expenditure General funds 3,363,067 303.825 (1.222,9)8) 408,492 2,852,476 14-
Atlas Memorial Limited Company Limited by Guarantee Notes to the Financial Statements (¢On¢iAaed) Year ended 31 January 2024 17. Analysis of net &ssets between funds Unrestricted Total Funds Funds 2024 Investments Current assets Creditors less than l year 546,178 1,430,569 (14,705) 1.962,042 546,178 1,430569 (14,705) 1,962,042 Net assets Unrestricted Total Funds Funds 2023 Investments Current assets Creditors less than l year Net assets 799,755 799.755 2,344,925 2.344,925 (292,2fy1) (292,2(H) 2,852,476 2,852.476 15.
Atlas Memorial Limited Company Limited by Guarantee Management Information Year ended 31 January 2024 The following pages do not forn] part of the financial statements. 16-
Atlas Memori81 Limited Company Limited by Gllarantee Detailed Statement of Financial Activities Year ended 31 January 2024 2024 2023 Income and endowments Donations and legacies Donations 200,000 102,5(K) Investment income Bank interest receivable Other interest receivable Foreign exchange gainl(loss) 661 41927 (71,224) (28,636) 72,253 129,072 201.325 Total income 171J64 303,825 Expenditure Expenditure on charitable activities Other establishment LegaI and professional fees Charitable donations 700 8,700 1,081,000 1,090,41MI 708 8.700 1,213,5 1.222.908 Total expenditure 1,090,400 1,222.908 Net gains on investments Unrealised gainsl(losses) on other investments (28,602) (408,492) Net expenditure (890,434) (510,591) 17-
Atlas Memorial Limited Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 January 2024 2024 2023 Expenditure on charitAble activities Charitable donations Gn7ntfvnding activities Charitable donations 1,081,000 1,2135( Governance costs Office administrative costs Accountancy fees 700 8,700 9,400 708 8,700 9,408 Expenditure on charitable activities 1,090,400 1,222.908 18-