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REGISTERED COMPANY NUMBER: 04121882 (England and Wales)
REGISTERED CHARITY NUMBER: 1097328



















BENYIMO LIMITED
(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

BENYIMO LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022




Page

Reference and Administrative Details 1

Report of the Trustees 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 11

BENYIMO LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 30 JUNE 2022



TRUSTEES M A Cymerman
P M Noe
Mrs S Cymerman
Mrs S Noe


COMPANY SECRETARY M A Cymerman


REGISTERED OFFICE First Floor
94 Stamford Hill
London
N16 6XS


REGISTERED COMPANY
NUMBER
04121882 (England and Wales)


REGISTERED CHARITY
NUMBER
1097328


INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS


BANKERS Bank of Scotland plc
Threadneedle Street
London
EC2R 8AY

BENYIMO LIMITED (REGISTERED NUMBER: 04121882)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2022


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 2022. 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).

REFERENCE AND ADMINISTRATIVE INFORMATION
The information is shown on page 1 of the financial statements and forms part of this report.

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are to alleviate poverty and the promotion of Jewish Religious education both in the United Kingdom and overseas.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees are pleased with the results for the year. This year the charity received various donations. There was an increase in investment income. The trustees increased grantmaking substantially and there was a surplus for the year.

FINANCIAL REVIEW
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities
of the charity. Reserves at the year end were £575,009 (2021 - £537,677) being net assets, including unrealised reserves of £335,791.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 5 December 2000.

Organisational structure
The power to appoint new trustees is vested in the continuing board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.

Risk management
The trustees have reviewed the major risks that the charity is exposed and confirm that they have established systems to mitigate them.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 17 October 2023 and signed on its behalf by:





M A Cymerman - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
BENYIMO LIMITED

Independent examiner's report to the trustees of Benyimo Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2022.

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:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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.








E Meyer FCA BSc

Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

17 October 2023

BENYIMO LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 JUNE 2022

2022 2021
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 13,298 -

Investment income 3 86,463 71,419
Total 99,761 71,419

EXPENDITURE ON
Raising funds 4 28,987 32,518

Charitable activities 5
Charitable activities 31,035 17,000
Support 2,407 2,307
Total 62,429 51,825

NET INCOME 37,332 19,594


RECONCILIATION OF FUNDS
Total funds brought forward 537,677 518,083

TOTAL FUNDS CARRIED FORWARD 575,009 537,677

BENYIMO LIMITED (REGISTERED NUMBER: 04121882)

BALANCE SHEET
30 JUNE 2022

2022 2021
Total Total
funds funds
Notes £    £   
FIXED ASSETS
Investment property 10 823,600 823,600

CURRENT ASSETS
Debtors 11 34,723 946
Cash at bank 24,431 42,440
59,154 43,386

CREDITORS
Amounts falling due within one year 12 (22,696 ) (25,760 )

NET CURRENT ASSETS 36,458 17,626

TOTAL ASSETS LESS CURRENT
LIABILITIES

860,058

841,226

CREDITORS
Amounts falling due after more than one year 13 (285,049 ) (303,549 )

NET ASSETS 575,009 537,677
FUNDS
Unrestricted funds:
General fund 575,009 537,677
TOTAL FUNDS 575,009 537,677

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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.


BENYIMO LIMITED (REGISTERED NUMBER: 04121882)

BALANCE SHEET - continued
30 JUNE 2022

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 17 October 2023 and were signed on its behalf by:





M A Cymerman - Trustee

BENYIMO LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

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, as modified by the revaluation of certain assets.

Income
Income from investments is included in the year in which it is receivable.

Expenditure
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.

Raising funds comprise investment management costs relating to the investment properties.

Grants are only recognised in the accounts when paid.

Support costs are those incurred to assist the work of the charity but are not direct charitable activities.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. It is revalued to its fair value at each reporting date any changes are
transferred to the Statement of Financial Activities. No depreciation is provided in respect of
investment properties applying the fair value.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.
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 amount expected to be received or paid and not discounted.

Going concern
There are no material uncertainties about the charity's ability to continue.


BENYIMO LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2022

2. JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.

The valuation of investment properties is inherently subjective, depending on many factors, including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions. Therefore, the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.

3. INVESTMENT INCOME
2022 2021
Unrestricted Total
funds funds
£    £   
Rents received 86,463 71,419

4. RAISING FUNDS

Investment management costs
2022 2021
Unrestricted Total
funds funds
£    £   
Management charges 10,606 11,209
Ground rent 100 100
Insurance 3,689 2,568
Repairs and maintenance 6,432 15,464
Bank loan interest 2,033 1,946
General and water rates 489 425
Light and heat 268 732
Professional fees 5,370 74
28,987 32,518

5. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
(see note costs (see
6) note 7) Totals
£    £    £   
Charitable activities 31,035 - 31,035
Support - 2,407 2,407
31,035 2,407 33,442


BENYIMO LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2022

6. GRANTS PAYABLE
2022 2021
£    £   
Charitable activities 31,035 17,000

Achisomoch Aid Company Ltd 19,330
Pardes House 3,525
Others under £3,000 8,180
31,035

7. SUPPORT COSTS
Governance
Management costs Totals
£    £    £   
Support 96 2,311 2,407

Support costs, included in the above, are as follows:

Management
2022 2021
Total
Support activities
£    £   
Bank charges 96 82
Governance costs
2022 2021
Total
Support activities
£    £   
Independent examiner's fee 480 480
Independent examiner's other fees 1,320 1,320
General expenses 511 425
2,311 2,225

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2022 nor for the year ended 30 June 2021.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2022 nor for the year ended 30 June 2021.



BENYIMO LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2022

9. AVERAGE NUMBER OF STAFF

The average number of staff in the year was Nil (2021 - Nil)

10. INVESTMENT PROPERTY
£   
FAIR VALUE
At 1 July 2021
and 30 June 2022 823,600
NET BOOK VALUE
At 30 June 2022 823,600
At 30 June 2021 823,600

The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the trustees who are considered to have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same or similar locations.

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Rental agent-Parkmead 946 946
Rental agent-Greatglen 33,777 -
34,723 946

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts (see note 14) 17,314 16,158
Accruals and deferred income 5,382 9,601
Accrued expenses - 1
22,696 25,760


BENYIMO LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2022

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans (see note 14) 59,424 77,924
Trustees' account 225,625 225,625
285,049 303,549

14. LOANS

An analysis of the maturity of loans is given below:

2022 2021
£    £   
Amounts falling due within one year on demand:
Bank loans 17,314 16,158
Amounts falling due between two and five years:
Bank loans - 2-5 years 59,424 64,632
Amounts falling due in more than five years:

Repayable by instalments:
Bank loans more than 5 years - 13,292

15. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 76,738 94,082

The bank loan is secured on the charity's investment property.

16. RELATED PARTY DISCLOSURES

The charity received donations of £3,298 from a company in which a trustee has an interest.