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REGISTERED COMPANY NUMBER: 12071715 (England and Wales)
REGISTERED CHARITY NUMBER: 1185871



















BEIS SHULOIM LIMITED
(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

BEIS SHULOIM LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 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 11

BEIS SHULOIM LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 30 JUNE 2023



TRUSTEES J Hager
A Langberg
Z Roth
Y Z Sterngold
J Teitelbaum


COMPANY SECRETARY J Teitelbaum


REGISTERED OFFICE 6 Grosvenor Way
London
United Kingdom
E5 9NB


REGISTERED COMPANY
NUMBER
12071715 (England and Wales)


REGISTERED CHARITY
NUMBER
1185871

BEIS SHULOIM LIMITED (REGISTERED NUMBER: 12071715)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2023


The trustees present their report with the financial statements of the charity for the year ended 30 June 2023.

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 the Orthodox Jewish faith; the advancement of education; the relief of poverty, and such other object as are for the benefit of the public and are charitable according to the laws of England and Wales.

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 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 were £366,629 ( 2022 - £375,020 ).

STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity constitution
The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 26 June 2019.

Organisational structure
The power to appoint new trustees is vested in the board. 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 reviewed the major risks to which 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 16 April 2024 and signed on its behalf by:





J Teitelbaum - Trustee

BEIS SHULOIM LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 JUNE 2023

2023 2022
Unrestricted Total
funds funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies - 60,018

Investment income 2 1,000 -
Total 1,000 60,018

EXPENDITURE ON
Raising funds 3 3,610 2,999

Charitable activities 4
Grantmaking 4,328 60,450
Support 1,453 2,003
Total 9,391 65,452

NET INCOME/(EXPENDITURE) (8,391 ) (5,434 )


RECONCILIATION OF FUNDS
Total funds brought forward 375,020 380,454

TOTAL FUNDS CARRIED FORWARD 366,629 375,020

BEIS SHULOIM LIMITED (REGISTERED NUMBER: 12071715)

BALANCE SHEET
30 JUNE 2023

2023 2022
Total Total
funds funds
Notes £    £   
FIXED ASSETS
Investment property 9 2,911,107 2,721,196

CURRENT ASSETS
Cash at bank 272,711 10,302

CREDITORS
Amounts falling due within one year 10 (1,441 ) (1,221,418 )

NET CURRENT ASSETS 271,270 (1,211,116 )

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,182,377

1,510,080

CREDITORS
Amounts falling due after more than one year 11 (2,815,748 ) (1,135,060 )

NET ASSETS 366,629 375,020
FUNDS 14
Unrestricted funds:
General fund (29,489 ) (21,098 )
Fair Value Reserve 396,118 396,118
366,629 375,020
TOTAL FUNDS 366,629 375,020

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.


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


BEIS SHULOIM LIMITED (REGISTERED NUMBER: 12071715)

BALANCE SHEET - continued
30 JUNE 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 16 April 2024 and were signed on its behalf by:





J Teitelbaum - Trustee

BEIS SHULOIM LIMITED

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

Judgements and key sources of estimation uncertainty
In the application of the charity's accounting policies, the trustees 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. Actual results may differ from these estimates.

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.

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 as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

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.

BEIS SHULOIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. INVESTMENT INCOME
2023 2022
Unrestricted Total
funds funds
£    £   
Rents received 1,000 -

3. RAISING FUNDS

Investment management costs
2023 2022
Unrestricted Total
funds funds
£    £   
Portfolio management 643 -
Insurance 2,967 2,999
3,610 2,999

4. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
(see note costs (see
5) note 6) Totals
£    £    £   
Grantmaking 4,150 178 4,328
Support - 1,453 1,453
4,150 1,631 5,781

5. GRANTS PAYABLE
2023 2022
£    £   
Grantmaking 4,150 60,450
The total grants paid to institutions during the year was as follows:
2023 2022
£    £   
Advancement of religion 4,150 48,000
Relief of poverty - 12,450
4,150 60,450



BEIS SHULOIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. SUPPORT COSTS
Governance
Finance costs Totals
£    £    £   
Grantmaking 178 - 178
Support - 1,453 1,453
178 1,453 1,631

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

Finance
2023 2022
Total
Grantmaking activities
£    £   
Bank charges 178 196
Governance costs
2023 2022
Total
Support activities
£    £   
Independent examiner's fee 720 720
Independent examiner's other fees 720 720
General expenses 13 367
1,453 1,807

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.


8. AVERAGE STAFF NUMBERS

The average number of staff in the year was Nil (2022 - Nil)


BEIS SHULOIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

9. INVESTMENT PROPERTY
£   
FAIR VALUE
At 1 July 2022 2,721,196
Additions 189,911
At 30 June 2023 2,911,107
NET BOOK VALUE
At 30 June 2023 2,911,107
At 30 June 2022 2,721,196

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.

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 1 1,219,978
Accruals and deferred income 1,440 1,440
1,441 1,221,418

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 12) 2,815,748 1,135,060

12. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling between one and two years:
Bank loans - 1-2 years 6,807 1,135,060
Amounts falling due in more than five years:

Repayable otherwise than by instalments:
Bank loans more 5 yrs non-inst 2,808,941 -


BEIS SHULOIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

13. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 2,815,748 1,135,060

The bank loan is secured by a legal charge over the company's investment property.

14. MOVEMENT IN FUNDS
Net
movement At
At 1.7.22 in funds 30.6.23
£    £    £   
Unrestricted funds
General fund (21,098 ) (8,391 ) (29,489 )
Fair Value Reserve 396,118 - 396,118
375,020 (8,391 ) 366,629
TOTAL FUNDS 375,020 (8,391 ) 366,629

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 1,000 (9,391 ) (8,391 )

TOTAL FUNDS 1,000 (9,391 ) (8,391 )


Comparatives for movement in funds

Net
movement At
At 1.7.21 in funds 30.6.22
£    £    £   
Unrestricted funds
General fund (15,664 ) (5,434 ) (21,098 )
Fair Value Reserve 396,118 - 396,118
380,454 (5,434 ) 375,020
TOTAL FUNDS 380,454 (5,434 ) 375,020

BEIS SHULOIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 60,018 (65,452 ) (5,434 )

TOTAL FUNDS 60,018 (65,452 ) (5,434 )

15. RELATED PARTY DISCLOSURES

Ezer Bekoivoid Ltd and Millage Ltd are related parties having common trustees they provided finance for Beis Shuloim Ltd during the year. The amount owed to Ezer Bekovoid at the year end was £2,808,941.36 (2022 - £1,139,977) and to Millage Ltd NIL (2022 - £80,00).