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REGISTERED COMPANY NUMBER: 04501003 (England and Wales)
REGISTERED CHARITY NUMBER: 1101241



















V.H.L.T LTD
(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

V.H.L.T LTD






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




Page

Reference and Administrative Details 1

Report of the Trustees 2 to 3

Report of the Independent Auditors 4 to 6

Statement of Financial Activities 7

Balance Sheet 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11 to 15

V.H.L.T LTD

REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 AUGUST 2023



TRUSTEES Y Frand
A Streicher
Y Marmorstein
R Frand


REGISTERED OFFICE 61 Fairholt Road
London
N16 5EW


REGISTERED COMPANY
NUMBER
04501003 (England and Wales)


REGISTERED CHARITY
NUMBER
1101241


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


BANKERS The Royal Bank of Scotland plc
34 Station Road
Harrow
HA1 2XZ

V.H.L.T LTD (REGISTERED NUMBER: 04501003)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2023


The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2021

Reference and administrative information
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.

OBJECTIVES AND ACTIVITIES
Object for public benefit
The objects of the charity are to advance religion in accordance with the Orthodox Jewish faith and the relief of poverty, in particular by assisting individuals in need of food, clothing, shelter or medical services who are unable to afford these from their own means. The charity also supports educational and religious institutions and gives grants and scholarships to suitable qualified students.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.

Grantmaking
In general the trustees select the institutions to be supported according to their personal knowledge of work of the institution. Whilst not actively inviting applications, they are always prepared to accept any application which will be carefully considered and help given according to circumstances and funds then available. Applications by individuals must be accompanied by a letter of recommendation by the applicant's minister or other known religious leader.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity derives its income from donations. The trustees are satisfied with the results of the year. There was an decrease in income of about 3%, the trustees reduced grantmaking by some 14% leaving a surplus for the year. The charity continued its philanthropic activities and has maintained its support of organisations engaging in education, advancement of religion, and the relief of poverty. The charity also helped needy individuals and families.

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 £377,613 (2022 - £192,722)

FUTURE PLANS
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 1 August 2002.

Organisational structure
The power to appoint new trustees is vested in the continuing 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 that the charity faces and confirm that they have established systems to mitigate them.


V.H.L.T LTD (REGISTERED NUMBER: 04501003)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of V.H.L.T LTD for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS
The auditors, Sugarwhite Meyer Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

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 21 June 2024 and signed on its behalf by:





Y Frand - Trustee

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
V.H.L.T LTD

Opinion
We have audited the financial statements of V.H.L.T LTD (the 'charitable company') for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:
-give a true and fair view of the state of the charitable company's affairs as at 31 August 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
V.H.L.T LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
V.H.L.T LTD


Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In performing an audit, we exercise professional judgment and maintain professional scepticism throughout the audit.

We also identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. The risk of not detecting a material misstatement resulting from fraud is higher than one for one resulting from error, as fraud may involve collusion, forgery, intentional omissions misrepresentation or override of internal control.

We obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of charity's internal control.

We evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements

We concluded whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about charity's ability to continue as a going concern for a reasonable period of time.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.




E Meyer FCA BSc (Senior Statutory Auditor)
for and on behalf of Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

21 June 2024

V.H.L.T LTD

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

2023 2022
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 1,751,998 1,803,492

EXPENDITURE ON
Raising funds 2 28,068 24,189

Charitable activities 3
Grantmaking 1,537,528 1,773,762
Support 1,511 6,606
Total 1,567,107 1,804,557

NET INCOME/(EXPENDITURE) 184,891 (1,065 )


RECONCILIATION OF FUNDS
Total funds brought forward 192,722 193,787

TOTAL FUNDS CARRIED FORWARD 377,613 192,722

V.H.L.T LTD (REGISTERED NUMBER: 04501003)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Total Total
funds funds
Notes £    £   
FIXED ASSETS
Tangible assets 9 1 1

CURRENT ASSETS
Debtors 10 46,545 61,858
Cash at bank 353,818 154,114
400,363 215,972

CREDITORS
Amounts falling due within one year 11 (14,000 ) (9,500 )

NET CURRENT ASSETS 386,363 206,472

TOTAL ASSETS LESS CURRENT
LIABILITIES

386,364

206,473

CREDITORS
Amounts falling due after more than one year 12 (8,751 ) (13,751 )

NET ASSETS 377,613 192,722
FUNDS
Unrestricted funds:
General fund 377,613 192,722
TOTAL FUNDS 377,613 192,722

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 21 June 2024 and were signed on its behalf by:





Y Frand - Trustee

V.H.L.T LTD

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2023

2023 2022
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 204,704 67,935
Net cash provided by operating activities 204,704 67,935

Cash flows from financing activities
Loan repayments in year (5,000 ) (5,000 )
Net cash used in financing activities (5,000 ) (5,000 )

Change in cash and cash equivalents
in the reporting period

199,704

62,935
Cash and cash equivalents at the
beginning of the reporting period

154,114

91,179
Cash and cash equivalents at the end
of the reporting period

353,818

154,114

V.H.L.T LTD

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2023

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2023 2022
£    £   
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)

184,891

(1,065

)
Adjustments for:
Decrease in debtors 15,313 69,000
Increase in creditors 4,500 -
Net cash provided by operations 204,704 67,935


2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.22 Cash flow At 31.8.23
£    £    £   
Net cash
Cash at bank 154,114 199,704 353,818
154,114 199,704 353,818

Debt
Debts falling due within 1 year (5,000 ) - (5,000 )
Debts falling due after 1 year (13,751 ) 5,000 (8,751 )
(18,751 ) 5,000 (13,751 )
Total 135,363 204,704 340,067

V.H.L.T LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 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.

Donations are included in full in the Statement of Financial Activities when received.

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.

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

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.



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

Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value

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


V.H.L.T LTD

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

2. RAISING FUNDS

Raising donations and legacies
2023 2022
Unrestricted Total
funds funds
£    £   
Telephone 364 798
Postage and stationery 25,380 20,141
Advertising 2,324 3,250
28,068 24,189

3. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
(see note costs (see
4) note 5) Totals
£    £    £   
Grantmaking 1,528,470 9,058 1,537,528
Support - 1,511 1,511
1,528,470 10,569 1,539,039

4. GRANTS PAYABLE
2023 2022
£    £   
Grantmaking 1,528,470 1,771,825
The total grants paid to institutions during the year was as follows:
2023 2022
£    £   
Relief of poverty 38,300 1,698,189
Advancement of education 34,040 23,800
Advancement of religion 1,412,522 6,000
1,484,862 1,727,989

Vaad Harabonim Israel 1,412,522
Zera Aharon 23,900
Olam Chesed Yiboneh 20,300
Others under £20,000 28,140
1,484,862

The total grants paid to individuals during the year was as follows:
2023 2022
£    £   
Relief of poverty 42,208 43,836
Advancement of religion 1,400 -
43,608 43,836

V.H.L.T LTD

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

5. SUPPORT COSTS
Governance
Finance Other costs Totals
£    £    £    £   
Grantmaking 3,730 828 4,500 9,058
Support - 1,000 511 1,511
3,730 1,828 5,011 10,569

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

Finance
2023 2022
Total
Grantmaking activities
£    £   
Bank charges 3,730 2,261
Other
2023 2022
Total Total
Grantmaking Support activities activities
£    £    £    £   
Sundry expenses 828 1,000 1,828 1,043
Governance costs
2023 2022
Total Total
Grantmaking Support activities activities
£    £    £    £   
Auditors' remuneration 1,500 - 1,500 1,500
Auditors' remuneration for non audit
work

3,000

-

3,000

3,000

General expenses - 511 511 739
4,500 511 5,011 5,239

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£    £   
Auditors' remuneration 1,500 1,500
Auditors' remuneration for non audit work 3,000 3,000


V.H.L.T LTD

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

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.


8. AVERAGE STAFF NUMBERS

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

9. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 September 2022 and
31 August 2023

557

DEPRECIATION
At 1 September 2022 and
31 August 2023

556

NET BOOK VALUE
At 31 August 2023 1
At 31 August 2022 1

10. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other debtors 46,545 61,858


V.H.L.T LTD

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

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 13) 5,000 5,000
Accruals and deferred income 9,000 4,500
14,000 9,500

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 13) 8,751 13,751

13. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year on demand:
Bank loans 5,000 5,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 8,751 13,751

14. RELATED PARTY DISCLOSURES

The charity made a donation of £20,300 to a charity in which a close relative of a trustee has an interest.