Caseware UK (AP4) 2023.0.135 2023.0.135 Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-3121128116211281162120380121203802211281172023-12-312023-01-01falseNo description of principal activity22 8684201 2023-01-01 2023-12-31 8684201 2022-01-01 2022-12-31 8684201 2023-12-31 8684201 2022-12-31 8684201 2023-01-01 8684201 2022-01-01 8684201 c:CompanySecretary1 2023-01-01 2023-12-31 8684201 c:RegisteredOffice 2023-01-01 2023-12-31 8684201 d:Buildings 2023-01-01 2023-12-31 8684201 d:Buildings 2023-12-31 8684201 d:Buildings 2022-12-31 8684201 d:FurnitureFittings 2023-01-01 2023-12-31 8684201 d:FurnitureFittings 2023-12-31 8684201 d:FurnitureFittings 2022-12-31 8684201 d:CurrentFinancialInstruments 2023-12-31 8684201 d:CurrentFinancialInstruments 2022-12-31 8684201 d:CurrentFinancialInstruments 3 2023-12-31 8684201 d:CurrentFinancialInstruments 3 2022-12-31 8684201 c:FRS102 2023-01-01 2023-12-31 8684201 c:IndependentExaminationCharity 2023-01-01 2023-12-31 8684201 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 8684201 b:Trustee1 2023-01-01 2023-12-31 8684201 b:Trustee2 2023-01-01 2023-12-31 8684201 b:Trustee4 2023-01-01 2023-12-31 8684201 b:Trustee6 2023-01-01 2023-12-31 8684201 b:UnrestrictedFundsGeneral 2023-01-01 2023-12-31 8684201 b:UnrestrictedFundsGeneral 2022-01-01 2022-12-31 8684201 b:UnrestrictedFundsGeneral 2023-12-31 8684201 b:UnrestrictedFundsGeneral 2022-12-31 8684201 1 2023-12-31 8684201 1 2022-12-31 8684201 b:TotalUnrestrictedFunds 2023-12-31 8684201 b:TotalUnrestrictedFunds 2022-12-31 8684201 b:TotalRestrictedIncomeFunds 2023-12-31 8684201 b:TotalRestrictedIncomeFunds 2022-12-31 8684201 c:FullAccounts 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 8684201
Charity number: 1154836











VELEHRAD LONDON
(A company limited by guarantee)








UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
VELEHRAD LONDON
 
(A company limited by guarantee)
 

CONTENTS



Page
Reference and administrative details of the company, its Trustees and advisers
 
 
1
Trustees' report
 
 
2 - 5
Independent examiner's report
 
 
6
Statement of financial activities
 
 
7
Balance sheet
 
 
8 - 9
Notes to the financial statements
 
 
10 - 23

 
VELEHRAD LONDON
 
(A company limited by guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023


Trustees
M Tomsky
A J Stane
M Mondry
K Kubackova

Company registered number
8684201

Charity registered number
1154836

Registered office
39 Lonsdale Road
London
SW13 9JP

Company secretary
L J Stane

Accountants
MWS Chartered Accountants
Accountants
601 London Road
Westcliff-on-Sea
Essex
SS0 9PE

Page 1

 
VELEHRAD LONDON
 
(A company limited by guarantee)
 
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report together with the financial statements of the company for the  1 January 2023 to 31 December 2023The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 
 

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
 

Objectives and activities
 

a. Policies and objectives
 

The charity's objectives are to provide relief and assistance, particularly in the fields of culture, education and religion, to migrants from the territory of former Czechoslovakia.
The Trustees have paid due regard to guidance in relation to Public Benefit issued by the Charity Commission in deciding what activities the charity should undertake. The Trustees are of the opinion that it has fully complied with all such guidance.
 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
 

b. Grant-making policies
 

The trustees will consider making grants to beneficiaries that fall within its charitable objectives and invite relevant applications to be made.
 

Achievements and performance
 

a. Main achievements of the company
 

The main achievement of the company is its ability to continue to support needy Czech and Slovak migrant by providing grants to individuals who need it and which have been useful to them.
 

Page 2

 
VELEHRAD LONDON
 
(A company limited by guarantee)
 
Achievements and performance (continued)

b. Review of activities
 

In 2023 as in the previous years, the Charity provided financial support (grants) to a number of Czech and
Slovak students living in England and attending institutions of higher education in the U.K. They supported some needy migrants from former Czechoslovakia. It also supported repatriation costs of some stranded Czech and Slovak nationals when alerted to them by the Czech and Slovak Embassies and other Czech and Slovak charitable organisation in the UK.
A regular Sunday language club for Czech children took place in the rooms of the property and the Trustees
support the cost of the language teachers. 
The Trustees organised various charitable activities in the house and the charity's property continued to provide a home for the Czech and Slovak community events in London. 
The Trustees continued to work closely with the office of the Archbishop of Prague trying to meet the pastoral needs of the Czech catholic Diaspora. The Czech Bishops Conference has agreed to provide a Czech priest for one monthly Sunday Catholic Mass which takes place in the Espinosa hall. The Trustees meet the cost of the visiting priests.
 

Financial review
 

a. Going concern
 

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
 

b. Reserves policy
 

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use, excluding the amounts allocated to fixed assets and investments, should be maintained at a level equivalent to between three and six months' expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
At the end of the year the Charity's total unrestricted reserves amounted to £10,601,901 (2022: £10,564,059).
The attached financial statements show the current state of the finances, which are considered to be sound.
The results of the period are set out in the Statement of Financial Activities on page 6. The trustee regularly review the reserves policy in light of risks and future plans.
 

Structure, governance and management
 

a. Constitution
 

Velehrad London is registered as a charitable company limited by guarantee and was set up by Articles of Association on 11/12/2013. The Articles of Association, also adopted 11/12/2013, were amended on 11/01/2014. The company is also a registered charity, number 1154836.
 

b. Methods of appointment or election of Trustees
 

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
 

Page 3

 
VELEHRAD LONDON
 
(A company limited by guarantee)
 
Structure, governance and management (continued)

c. Policies adopted for the induction and training of Trustees
 

The composition of the Charity's board of trustees is reviewed regularly with a view to achieving a spread of expertise and age designed to facilitate the achievement of the Charity's objects. The Trustees keep up to date on their responsiblities by various means, such as reviewing the Charity Commission website, reading relevant periodicals and professional advice,
 

d. Pay policy for key management personnel
 

The Trustees consider the board of trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity. The trustees have delegated the running and day to day operation of the charity to an operations manager. All trustees give their time freely and no trustee remuneration was paid in the year.
 

e. Financial risk management
 

The Trustees have examined the major strategic, business and operational risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to significant risks.
 

Members' liability
 

None of the trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of winding up.
 

Statement of Trustees' responsibilities
 

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).


Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


 

Approved by order of the members of the board of Trustees on 19 September 2024 and signed on their behalf by: 
 

Page 4

 
VELEHRAD LONDON
 
(A company limited by guarantee)
 



................................................
A J Stane
Trustee



................................................
M Tomsky
Trustee
Page 5

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

Independent examiner's report to the Trustees of Velehrad London ('the company')

 
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2023.


Responsibilities and basis of report


As the Trustees of the company (and 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 the company's accounts 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.


This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.





Signed:      Dated: 19 September 2024

Jonathan Gorridge FCA     ICAEW

MWS Chartered Accountants
Accountants
601 London Road
Westcliff-on-Sea
Essex
SS0 9PE
Page 6

 
VELEHRAD LONDON
 
(A company limited by guarantee)


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


Unrestricted funds
2023
Total
funds
2023
Total
funds
2022
Note
        £
        £
        £

Income from:






Donations and legacies

3

7,976

7,976

4,520
 
Investments

4

83,529

83,529

86,176
 
Total income
91,505
91,505
90,696
Expenditure on:






Raising funds

5

10,836

10,836

11,606
 
Charitable activities

7

105,478

105,478

101,512
 
Total expenditure
116,314
116,314
113,118

Net expenditure before net gains/(losses) on investments

  

(24,809)

(24,809)

(22,422)
 
Net gains/(losses) on investments

  

62,651

62,651

(204,984)
 
Net income/(expenditure)

  

37,842

37,842

(227,406)
 
Net movement in funds
  
37,842
37,842
(227,406)

Reconciliation of funds:

  




Total funds brought forward

  

10,564,058

10,564,058

10,791,464
 
Net movement in funds

  

37,842

37,842

(227,406)
 
Total funds carried forward
  
10,601,900
10,601,900
10,564,058

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 10 to 23 form part of these financial statements.

Page 7

 
VELEHRAD LONDON
 
(A company limited by guarantee)
REGISTERED NUMBER: 8684201


 
BALANCE SHEET
AS AT 31 DECEMBER 2023


2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 12 
9,426,218
9,427,098

Investments
 13 
1,167,786
1,121,971

  
10,594,004
10,549,069

Current assets
  

Debtors
 14 
8,592
9,183

Cash at bank and in hand
  
3,882
10,643

  
12,474
19,826

Creditors: amounts falling due within one year
 15 
(4,577)
(4,837)

Net current assets 
  
 
 
7,897
 
 
14,989

Total assets less current liabilities
  
10,601,901
10,564,058

Net assets excluding pension asset 
  
10,601,901
10,564,058

Total net assets 
  
10,601,901
10,564,058


Charity funds
  

Restricted funds
 19 
-
-

Unrestricted funds
 19 
10,601,901
10,564,058

Total funds
  
10,601,901
10,564,058

Page 8

 
VELEHRAD LONDON
 
(A company limited by guarantee)
REGISTERED NUMBER: 8684201


 
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

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

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

The financial statements were approved and authorised for issue by the Trustees on 19 September 2024 and signed on their behalf by:




A J Stane
Trustee



M Tomsky
Trustee

The notes on pages 10 to 23 form part of these financial statements.

Page 9

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Velehrad London is a charitable company limited by guarantee and incorporated in England and Wales.
Its registered office is 39 Lonsdale Road, Barnes, London, SW13 9JP.


2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Velehrad London meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in Sterling, which is the functional currency of the Trust.

  
2.2

Public benefit entity

The charity constitutes a public benefit entity as defined by FRS 102. The charity is a company limited by guarantee that is domiciled in England and Wales.

  
2.3

Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

  
2.4

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. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

Page 10

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

2.4

Expenditure (continued)

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

  
2.5

Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

 
2.6

Tangible fixed assets and depreciation

Items of a capital nature are reviewed for their purpose and are capitalised where they are considered to provide an ongoing use to the charity

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% reducing balance

  
2.7

Freehold Property

The initial recognition of the cost of the property is its original purchase price together with associated costs of acquisition and costs directly attributable to bringing the property so that it is capable of being used in the manners intended by the trustees.
The freehold property will be revalued by the trustees at 31 December 2023 and then with sufficient regularity to ensure the carrying amount does not differ materially from its fair value at the end of each accounting year.

  
2.8

Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

Page 11

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.9

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered.  Prepayments are valued at the amount prepaid net of any trade discounts due.

  
2.10

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.


2.11

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

  
2.12

Financial instruments

The company 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

  
2.13

Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

  
2.14

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

  
2.15

Foreign currency

Transactions in foreign currencies are recorded at the rate ruling at the date of transaction. Bank balances denominated in foreign currencies are translate at the rate of exchange ruling at the balance sheet date. All foreign exchange differences are taken to the SOFA. There were no foreign currency transactions undertaken in this accounting period.

Page 12

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.

Income from donations and legacies



Unrestricted funds
2023
Total
funds
2023
        £
        £
 


Donations

7,976

7,976




Unrestricted funds
2022
Total
funds
2022
        £
        £


Donations

4,520

4,520



4.

Investment income



Unrestricted funds
2023
Total
funds
2023
        £
        £



Rental Income

51,380

51,380

Income from listed investments

32,148

32,148

Investment income

1

1



83,529
83,529



Unrestricted funds
2022
Total
funds
2022
        £
        £



Investment income - local investment properties

49,860

49,860

Income from local listed investments

36,316

36,316



86,176
86,176

Page 13

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.

Investment management costs



Unrestricted funds
2023
Total
funds
2023
        £
        £



Investment management fees

10,836

10,836




Unrestricted funds
2022
Total
funds
2022
        £
        £



Investment management fees

11,606

11,606



6.

Analysis of grants



Grants to Individuals
2023
Total
funds
2023
        £
        £



Grants, Charitable Activities

15,598

15,598




Grants to Individuals
2022
Total
funds
2022
        £
        £



Grants, Charitable Activities

12,096

12,096


Page 14

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.

Analysis of expenditure on charitable activities


Summary by fund type



Unrestricted funds
2023
Total
2023
        £
        £



Charitable Activities

105,478

105,478




Unrestricted funds
2022
Total
2022
        £
        £



Charitable Activities

101,512

101,512


Summary by expenditure type





Staff costs
2023
Depreciation
2023
Other costs
2023
Total
2023
        £
        £
        £
        £





Charitable Activities

26,009

1,473

77,996

105,478






Staff costs
2022
Depreciation
2022
Other costs
2022
Total
2022
        £
        £
        £
        £





Charitable Activities

25,384

3,217

72,911

101,512


Page 15

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.

Analysis of expenditure by activities





Activities undertaken directly
2023
Grant funding of activities
2023
Support costs
2023
Total
funds
2023
        £
        £
        £
        £





Charitable Activities

3,551

15,598

86,329

105,478







Activities undertaken directly
2022
Grant funding of activities
2022
Support costs
2022
Total
funds
2022
        £
        £
        £
        £





Charitable Activities

3,408

12,096

86,007

101,511



Analysis of support costs



Charitable Activities
2023
Total
funds
2023
        £
        £



Staff costs

26,009

26,009

Depreciation

1,473

1,473

Chapel & priest costs

1,865

1,865

Premises costs

13,193

13,193

Printing & stationery

161

161

Travelling & subsistence

3,024

3,024

Insurance

5,931

5,931

Gifts & related costs

3

3

Bank charges

108

108

Light & heat

15,635

15,635

Accountancy

2,448

2,448

Fundraising & publicity

522

522

Community education

11,072

11,072

Sundry expenses

354

354

Independent examiner

2,160

2,160

Telephone

1,846

1,846

Exp type 30

525

525



86,329
86,329
Page 16

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.Analysis of expenditure by activities (continued)

Analysis of support costs (continued)


During the year ended 31 December 2023, the company incurred the following Governance costs:
£4,320 (2022 - £4,320) included within the table above in respect of the charitable activities.



Charitable Activities
2022
Total
funds
2022
        £
        £



Staff costs

25,384

25,384

Depreciation

3,217

3,217

Chapel & priest costs

610

610

Premises costs

21,453

21,453

Printing & stationery

771

771

Travelling & subsistence

709

709

Insurance

5,590

5,590

Gifts & related costs

8

8

Bank charges

106

106

Light & heat

14,233

14,233

Accountancy

2,448

2,448

Fundraising & publicity

427

427

Community education

6,594

6,594

Sundry expenses

828

828

Independent Examiner

2,160

2,160

Telephone

1,469

1,469



86,007
86,007


9.

Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £2,160 (2022 - £2,160), and and accounts preperation  of £2,160 (2022 - £2,160).

10.



Staff costs


2023
2022
£
£


Wages and salaries
25,870
25,263

Contribution to defined contribution pension schemes
139
121

26,009
25,384

Page 17

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.Staff costs (continued)

The average number of persons employed by the company during the year was as follows:


2023
2022

No.
No.


Employees
2
2

No employee received remuneration amounting to more than £60,000 in either year.





11.


Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - £NIL).


12.


Tangible fixed assets




Freehold property
Fixtures and fittings
Total

£
£
£


Cost or valuation

At 1 January 2023
9,421,258
33,430
9,454,688

Additions
-
594
594


At 31 December 2023

9,421,258
34,024
9,455,282


Depreciation

At 1 January 2023
-
27,590
27,590

Charge for the year
-
1,473
1,473


At 31 December 2023

-
29,063
29,063


Net book value


At 31 December 2023
9,421,258
4,961
9,426,219


At 31 December 2022
9,421,258
5,840
9,427,098

Page 18

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Fixed asset investments





Listed investments

£



Cost or valuation



At 1 January 2023
1,121,971


Additions
45,815



At 31 December 2023

1,167,786




Net book value




At 31 December 2023
1,167,786



At 31 December 2022
1,121,971


14.



Debtors


2023
2022
£
£


Due within one year

Other debtors
-
60

Prepayments and accrued income
8,592
9,123

8,592
9,183


15.



Creditors: Amounts falling due within one year


2023
2022
£
£


Other taxation and social security
244
504

Pension fund loan payable
13
13

Other creditors
4,320
4,320

4,577
4,837

Page 19

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

16.



Financial instruments


2023
2022
£
£

Financial assets

Financial assets measured at fair value through income and expenditure
1,167,786
1,121,971


The investment portfolio is significant to the charity's financial performance as income from the listed investments helps fund a large proportion of the expenses of the charity. The portfolio is also significant to the charity's financial position as its fair value is a material proportion of its assets.


17.


Fixed asset investments

2023
2022
£
£

FA investments


Investments at 1 January
1,085,542
1,303,099

Additions during the year
455,075
205,537

Proceeds
(464,573)
(218,110)

Realised (losses)/gains
60,732
49,588

Unrealised gains/(losses)
1,919
(254,572)

Market Value at 31 December
1,138,695
1,085,542



Cash held at 31 December
29,090
36,428

Total investments at 31 December
1,167,785
1,121,970

The investment represents a portfolio of investments managed by Investec Wealth and Investment Limited. The cost price of the investments was £1,010,673 (2022: £996,048).


18.


Funds transfers

During the year funds transfers were carried out as follows:
£38,147 was transferred to the investments general fund from the other general fund representing cash and other adjustments to the investment account.
£594 was transferred within the general fund representing a fixed asset addition

Page 20

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

19.

Statement of funds


Statement of funds - current year

Balance at 1 January 2023
£
Income
£
Expenditure
£
Transfers in/out
£
Gains/
(Losses)
£
Balance at 31 December 2023
£

Unrestricted funds







Tangible fixed assets

9,427,098

-

(1,473)

594

-

9,426,219
 
Investments

1,121,970

32,148

(10,836)

(38,147)

62,651

1,167,786
 
Other general funds

14,990

59,358

(104,005)

37,553

-

7,896
 


10,564,058
91,506
(116,314)
-
62,651
10,601,901



Statement of funds - prior year

Balance at
1 January 2022
£
Income
£
Expenditure
£
Transfers in/out
£
Gains/
(Losses)
£
Balance at
31 December 2022
£

Unrestricted funds







General Funds - all funds

10,791,464

90,696

(113,118)

(10,549,069)

(204,984)

14,989
 
Tangible fixed assets

-

-

-

9,427,098

-

9,427,098
 
Investments

-

-

-

1,121,971

-

1,121,971
 


10,791,464
90,696
(113,118)
-
(204,984)
10,564,058




Page 21

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

20.

Summary of funds


Summary of funds - current year

Balance at 1 January 2023
£
 
Income
£
 
Expenditure
£
 
Transfers in/out
£
 
Gains/
(Losses)
£
 
Balance at 31 December 2023
£
 
General funds

10,564,058

91,506

(116,314)

-

62,651

10,601,901
 


Summary of funds - prior year

Balance at
1 January 2022
£
 
Income
£
 
Expenditure
£
 
Transfers in/out
£
 
Gains/
(Losses)
£
 
Balance at
31 December 2022
£
 
General funds

10,791,464

90,696

(113,118)

-

(204,984)

10,564,058
 

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose.


21.

Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted funds
2023
Total
funds
2023
        £
        £


Tangible fixed assets

9,426,219

9,426,219

Fixed asset investments

1,167,786

1,167,786

Current assets

12,473

12,473

Creditors due within one year

(4,577)

(4,577)

Total 


10,601,901
10,601,901


Page 22

 
VELEHRAD LONDON

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

21.Analysis of net assets between funds (continued)


Analysis of net assets between funds - prior year

Unrestricted funds
2022
Total
funds
2022
        £
        £


Tangible fixed assets

9,427,098

9,427,098

Fixed asset investments

1,121,971

1,121,971

Current assets

19,826

19,826

Creditors due within one year

(4,837)

(4,837)

1
1
Total 

10,564,059
10,564,059


22.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £139 (2022 - £120). Contributions totalling £13.27 (2022: £13.27) were payable to the fund at the balance sheet date and are included in creditors.



23.


Related party transactions

During the year the company paid L Stane, an officer of the company salary of £15,000 (2022: £15,000) under a standard employment contract for her role as Operations Manager

Page 23