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REGISTERED COMPANY NUMBER: 01734425 (England and Wales)
REGISTERED CHARITY NUMBER: 1089593



















SILVERQUOTE LIMITED
(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

SILVERQUOTE LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Reference and Administrative Details 1

Report of the Trustees 2

Statement of Financial Activities 3

Balance Sheet 4 to 5

Notes to the Financial Statements 6 to 9

SILVERQUOTE LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2023



TRUSTEES Mrs T Lipschitz
N Lipschitz
A Lipschitz


COMPANY SECRETARY Mrs T Lipschitz


REGISTERED OFFICE 153 Holmleigh Road
London
N16 5QA


REGISTERED COMPANY
NUMBER
01734425 (England and Wales)


REGISTERED CHARITY
NUMBER
1089593


BANKERS Barclays Bank plc
240 Whitechapel Road
London
E1 1BJ

SILVERQUOTE LIMITED (REGISTERED NUMBER: 01734425)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023


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).

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 the advancement of religion in accordance with the Orthodox Jewish Faith and the relief of poverty.

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 satisfied with the results of 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 £474,997 (2022 - £472,552).

STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The charity is constituted as a company limited by guarantee, incorporated on 24 June 1983 and is governed by its Memorandum and Articles of Association,

Organisational structure
The day-to-day affairs of the company are administered by the trustees. It is not the intention of the trustees 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 confirmed that there are no major risks to which the charity is exposed.

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 22 January 2024 and signed on its behalf by:





Mrs T Lipschitz - Trustee

SILVERQUOTE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 300 490

Investment income 2 7,048 4,401
Total 7,348 4,891

EXPENDITURE ON
Charitable activities 3
Grantmaking 3,942 1,844
Support 961 772
Total 4,903 2,616

NET INCOME 2,445 2,275


RECONCILIATION OF FUNDS
Total funds brought forward 472,552 470,277

TOTAL FUNDS CARRIED FORWARD 474,997 472,552

SILVERQUOTE LIMITED (REGISTERED NUMBER: 01734425)

BALANCE SHEET
31 MARCH 2023

2023 2022
Total Total
funds funds
Notes £    £   
CURRENT ASSETS
Debtors 8 170,000 170,000
Cash at bank 306,074 303,448
476,074 473,448

CREDITORS
Amounts falling due within one year 9 (1,077 ) (896 )

NET CURRENT ASSETS 474,997 472,552

TOTAL ASSETS LESS CURRENT
LIABILITIES

474,997

472,552

NET ASSETS 474,997 472,552
FUNDS
Unrestricted funds:
General fund 474,997 472,552
TOTAL FUNDS 474,997 472,552

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.


SILVERQUOTE LIMITED (REGISTERED NUMBER: 01734425)

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 22 January 2024 and were signed on its behalf by:





T Lipschitz - Trustee

SILVERQUOTE 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.

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

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.

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

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

2. INVESTMENT INCOME
2023 2022
Unrestricted Total
funds funds
£    £   
Deposit account interest 2,798 151
Loan interest 4,250 4,250
7,048 4,401


SILVERQUOTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
(see note costs (see
4) note 5) Totals
£    £    £   
Grantmaking 3,942 - 3,942
Support - 961 961
3,942 961 4,903

4. GRANTS PAYABLE
2023 2022
£    £   
Grantmaking 3,942 1,844
The total grants paid to institutions during the year was as follows:
2023 2022
£    £   
Advancement of religion 510 431
Advancement of education 1,800 500
Relief of poverty 1,525 640
Social welfare 107 273
3,942 1,844

Talmud Torah Belz 1,100
Beis Yaakov 500
Others under £500 2,342
3,942

5. SUPPORT COSTS
Governance
Other costs Totals
£    £    £   
Support 108 853 961


SILVERQUOTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:

Other
2023 2022
Total
Support activities
£    £   
Bank charges 108 99
Governance costs
2023 2022
Total
Support activities
£    £   
Accountancy fees 840 660
General expenses 13 13
853 673

6. 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.


7. AVERAGE STAFF NUMBERS

The average number of employees during the year was Nil (2022 - Nil)

8. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other debtors 170,000 170,000


SILVERQUOTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trustees' account 236 236
Accruals and deferred income 841 660
1,077 896

10. RELATED PARTY DISCLOSURES

A loan was made to a company in which has a connection to a trustee. Interest received in the year was £4250. The balance due to the charity at the balance sheet date was £170,000.