Charity registration number 1130437
Company registration number 06930018 (England and Wales)
BHW LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
BHW LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr M Kahan
Mr A Pifko
Mr I Kahan
Charity number
1130437
Company number
06930018
Registered office
325-327 Oldfield Lane North
Greenford
Middlesex
UB6 0FX
Accountants
Landau Morley LLP
325-327 Oldfield Lane North
Greenford
Middlesex
UB6 0FX
BHW LIMITED
CONTENTS
Page
Trustees' report
1
Accountants' report
2
Statement of financial activities
3
Balance sheet
4
Notes to the financial statements
5 - 8
BHW LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 JUNE 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 30 June 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the the trust's [governing document], the Companies Act 2006 and "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).

Objectives and activities

The objectives of the charity are to promote the advancement of the Orthodox Jewish faith, and the advancement of Orthodox Jewish religious education, as well as advancement of other charitable purposes such as the relief of poverty, sickness and infirmity.

 

In setting the charity's objectives and planning its activities, the Charity's trustees have given careful consideration to the Charity Commission's general guidance on public benefit.

Achievements and performance

The charity continued to hold the investment property. The property was not rented during the year

Financial review

For the financial statements for the year ending 30 June 2023 see page 3.

The trustees have assessed the major risks to which the the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Charity is a company limited by guarantee, governed by its Memorandum and Articles of Association, incorporated 10 June 2009 as amended by Certificate of Incorporation on change of name dated 9 September 2009.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Mr M Kahan
Mr A Pifko
Mr I Kahan

It is not the intention of the trustees of the charity to appoint any new trustees in the near future. Should the need arise the trustees will apply suitable recruitment induction and training procedures.

The trustees' report was approved by the Board of Trustees.

Mr M Kahan
Trustee
31 January 2024
BHW LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BHW LIMITED FOR THE YEAR ENDED 30 JUNE 2023
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BHW Limited for the year ended 30 June 2023, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 17 February 2023. Our work has been undertaken solely to prepare for your approval the financial statements of BHW Limited and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BHW Limited and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that BHW Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of BHW Limited. You consider that BHW Limited is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of BHW Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Landau Morley LLP
31 January 2024
Chartered Accountants
325-327 Oldfield Lane North
Greenford
Middlesex
UB6 0FX
BHW LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Donations and legacies
2
2,074
2,113
Charitable activities
3
2,114
2,113
Net expenditure and movement in funds
(40)
-
Reconciliation of funds:
Fund balances at 1 July 2022
1,999,410
1,999,410
Fund balances at 30 June 2023
1,999,370
1,999,410

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

BHW LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 4 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
8
2,000,000
2,000,000
Current assets
Cash at bank and in hand
10
10
Creditors: amounts falling due within one year
9
640
600
Net current liabilities
(630)
(590)
Total assets less current liabilities
1,999,370
1,999,410
The funds of the the trust
Unrestricted funds
1,999,370
1,999,410
1,999,370
1,999,410

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 31 January 2024
Mr M Kahan
Trustee
Company registration number 06930018 (England and Wales)
BHW LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
1
Accounting policies
Charity information

BHW Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 325-327 Oldfield Lane North, Greenford, Middlesex, UB6 0FX.

1.1
Accounting convention

The financial statements have been prepared in accordance with the the trust's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The the trust is a Public Benefit Entity as defined by FRS 102.

 

The the trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4
Income
Income is recognised when the the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

 

1.6
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

BHW LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the the trust’s contractual obligations expire or are discharged or cancelled.

1.8
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
2,074
2,113
BHW LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
3
Charitable activities
2023
2022
£
£
Share of support costs (see note 4)
1,425
1,500
Share of governance costs (see note 4)
689
613
2,114
2,113
4
Support costs allocated to activities
2023
2022
£
£
Insurance
1,425
1,500
Governance costs
689
613
2,114
2,113
Analysed between:
Charitable activities
2,114
2,113
5
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the the trust during the year.
6
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
7
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

8
Investment property
2023
£
Fair value
At 1 July 2022 and 30 June 2023
2,000,000
BHW LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
8
Investment property
(Continued)
- 8 -

The valuation of the investment property was made as at 30 June 2023 by the trustees' on an open market basis. The historic cost of the property was £1,763,693.

9
Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
640
600
10
Analysis of net assets between funds
Unrestricted
funds
2023
£
Fund balances at 30 June 2023 are represented by:
Investment properties
2,000,000
Current assets/(liabilities)
(630)
1,999,370
Unrestricted
funds
2022
£
Fund balances at 30 June 2022 are represented by:
Investment properties
2,000,000
Current assets/(liabilities)
(590)
1,999,410
11
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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