IRIS Accounts Production v24.3.0.553 Other Company accounts True false Pounds 1.12.22 30.11.23 30.11.23 FY FRS 102 Audited Small companies regime for accounts Full Charities SORP true true true true true false true false false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh018285402022-11-30018285402023-11-30018285402022-12-012023-11-30018285402021-11-30018285402021-12-012022-11-30018285402022-11-3001828540ns0:CharitableCompanyLimitedByGuarantee2022-12-012023-11-3001828540ns15:PoundSterling2022-12-012023-11-3001828540ns11:FRS1022022-12-012023-11-3001828540ns11:Audited2022-12-012023-11-3001828540ns11:SmallCompaniesRegimeForAccounts2022-12-012023-11-3001828540ns11:FullAccounts2022-12-012023-11-3001828540ns11:CharitiesSORP2022-12-012023-11-3001828540ns16:EnglandWales2022-12-012023-11-3001828540ns11:RegisteredOffice2022-12-012023-11-3001828540ns0:Trustee22022-12-012023-11-3001828540ns0:Trustee32022-12-012023-11-3001828540ns0:Trustee12022-12-012023-11-3001828540ns11:CompanySecretary12022-12-012023-11-3001828540ns0:Activity92022-12-012023-11-3001828540ns0:Activity92021-12-012022-11-3001828540ns10:WithinOneYear2023-11-3001828540ns10:WithinOneYear2022-11-3001828540ns10:AfterOneYear2023-11-3001828540ns10:AfterOneYear2022-11-3001828540ns0:TotalUnrestrictedFunds2023-11-3001828540ns10:FurnitureFittingsToolsEquipment2022-12-012023-11-300182854022022-12-012023-11-300182854032022-12-012023-11-300182854012022-12-012023-11-300182854012021-12-012022-11-3001828540ns10:FurnitureFittings2022-11-3001828540ns10:FurnitureFittings2023-11-3001828540ns10:FurnitureFittings2022-11-3001828540ns10:CostValuationns10:UnlistedNon-exchangeTraded2022-11-3001828540ns10:BetweenOneTwoYears2023-11-3001828540ns10:BetweenOneTwoYears2022-11-3001828540ns10:BetweenTwoFiveYears2023-11-3001828540ns10:BetweenTwoFiveYears2022-11-3001828540ns10:Secured2023-11-3001828540ns10:Secured2022-11-30
REGISTERED COMPANY NUMBER: 01828540 (England and Wales)
REGISTERED CHARITY NUMBER: 298359














Report of the Trustees and

Financial Statements for the Year Ended 30 November 2023

for

Bourneheights Limited

Bourneheights Limited

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Report of the Trustees 1 to 4

Report of the Independent Auditors 5 to 8

Statement of Financial Activities 9

Balance Sheet 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13 to 22

Bourneheights Limited (Registered number: 01828540)

Report of the Trustees
for the Year Ended 30 November 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 30 November 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity was formed for the advancement of the education of persons expressing the orthodox Jewish faith, the advancement of the orthodox Jewish faith, and the relief of poverty in the orthodox Jewish community.

The charity is also actively involved in raising funds for general education, and relief of poverty, and to this end made substantial grants in the year under review.

Significant activities
There were no significant activities to report.

Public benefit
The trustees confirm their compliance with the duty to have regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.

Grantmaking
Bourneheights Limited has within its Articles of Association the ability to make donations.

Volunteers
During the year, the charity did not have any volunteers to help with the objective of the charity.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to institutions during the period from contributions received from donors.

The Statement of Financial Activities shows a a net deficit of £1,050,853, this is after making total grants of £2,159,565, while the Charity's reserves stand at £9,434,527.

Investment performance
The trustees are currently satisfied with the investment performance of the assets. The Company has not expanded its activities during the current year, but is always looking at opportunities, the current investment property portfolio is producing good results which enhances its charitable activities.

Internal and external factors
The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact.

FINANCIAL REVIEW
Principal funding sources
Bourneheights is pleased and fortunate to receive donations from a number of organisations. Also through its investment policy the returns from the investments have produced good rental income.

Overall the charity has experienced a good year and hopes it will continue to do so next year.

Investment policy and objectives
Under the memorandum and articles of association, the charity has the power to make any investment, which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that investments in property meets their requirements to generate both income and capital growth.


Bourneheights Limited (Registered number: 01828540)

Report of the Trustees
for the Year Ended 30 November 2023


FINANCIAL REVIEW
Reserves policy
The charity does not maintain a reserve policy, as reserves are distributed when they become available, at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.

FUTURE PLANS
There are no significant future developments to report.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005. The company was formed on 28 June 1984. The charity is managed and controlled by the directors who are the trustees, who meet regularly.

Recruitment and appointment of new trustees
The trustees are appointed according to the Articles of Association.

Organisational structure
The Chief Executive of the charity is Mr S Rand, to whom day to day management of the charity has been delegated.

The Board of Trustees must, as per the governing document, have at least 3 trustees serving at anyone time.

The entire board meets on a regular basis, at least quarterly, or more if required.

Induction and training of new trustees
All new trustees are given, in the view of the board, sufficient training and have enough knowledge of their specific field to understand the nature of the charity and fully comply with the charities views of its progression.

New trustees undergo a briefing to ensure they are aware of both their legal and professional responsibilities under charity and company law.

Wider network
At present Bourneheights Limited does not consider itself part of a wider network.

Related parties
Full details of the Related Party Transactions during the year ended 30 November 2023 can be found in Note 21 of the Financial Statements.

Risk management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01828540 (England and Wales)

Registered Charity number
298359

Registered office
10 Palm Court
Queen Elizabeth's Walk
London
N16 5XA

Bourneheights Limited (Registered number: 01828540)

Report of the Trustees
for the Year Ended 30 November 2023


Trustees
Y Chersky
C Rand
S Rand

Company Secretary
S Rand

Auditors
Martin+Heller
Statutory Auditor
5 North End Road
London
NW11 7RJ

Solicitors
Bude Storz
220 Stamford Hill
London
N16 6RA

BBS Law Ltd
Ninth Floor, City Tower,
40 Basinghall Street,
London
EC2V 5DE

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Bourneheights Limited 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).

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, Martin+Heller, will be proposed for re-appointment at the forthcoming Annual General Meeting.


Bourneheights Limited (Registered number: 01828540)

Report of the Trustees
for the Year Ended 30 November 2023


Approved by order of the board of trustees on 11 October 2024 and signed on its behalf by:





S Rand - Trustee

Report of the Independent Auditors to the Members of
Bourneheights Limited


Opinion
We have audited the financial statements of Bourneheights Limited (the 'charitable company') for the year ended 30 November 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).

In our opinion the financial statements:
-give a true and fair view of the state of the charitable company's affairs as at 30 November 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; 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
Bourneheights Limited


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
Bourneheights Limited


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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We assess compliance with applicable laws and regulations that could reasonably be expected to have a
material effect on the financial statements. The key laws and regulations we have considered in this context included the Charities SORP (FRS 102). In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above. We discussed with management the extent of compliance with those laws and regulations as part of our audit procedures.

- We address the risk of fraud through management override of controls, by obtaining an understanding of internal control and by designing audit procedures that are appropriate and sufficient. We evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates and judgements made by management. We identified and assessed any significant transactions that are unusual or outside the normal course of business, and we incorporated testing of manual journal entries and corrections into our audit approach.

- Our audit procedures were designed to identify and assess risks of material misstatement in the financial
statements, whether due to fraud or error. The risk of not detecting a material misstatement due to fraud is higher
than the risk of not detecting one resulting from error, as fraud may involve collusion, forgery, omissions, misrepresentations, or management override of controls. We communicated identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. The engagement partner considers the engagement team collectively had the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations.

- There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion. Our responsibility is to conclude whether the financial statements represent the underlying financial position and activities of the charity and to ensure that the overall content and presentation of the financial statements gives a fair view.

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.

Report of the Independent Auditors to the Members of
Bourneheights Limited


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.




Mr A Heller (Senior Statutory Auditor)
for and on behalf of Martin+Heller
Statutory Auditor
5 North End Road
London
NW11 7RJ

11 October 2024

Bourneheights Limited

Statement of Financial Activities
for the Year Ended 30 November 2023

30.11.23 30.11.22
Unrestricted
funds Total funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 597,038 1,789,435

Investment income 3 816,792 728,780
Total 1,413,830 2,518,215

EXPENDITURE ON
Raising funds 4 297,118 335,473

Charitable activities 5
Donations to Institutions
2,159,565 1,866,937

Other 8,000 8,000
Total 2,464,683 2,210,410

NET INCOME/(EXPENDITURE) (1,050,853 ) 307,805


RECONCILIATION OF FUNDS
Total funds brought forward 10,485,380 10,177,575

TOTAL FUNDS CARRIED FORWARD 9,434,527 10,485,380

Bourneheights Limited (Registered number: 01828540)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Unrestricted
funds Total funds
Notes £ £
FIXED ASSETS
Investments
Investments 12 2,354 2,354
Investment property 13 12,688,539 12,688,539
12,690,893 12,690,893

CURRENT ASSETS
Debtors 14 228,314 1,153,180
Cash at bank 69,299 292,631
297,613 1,445,811

CREDITORS
Amounts falling due within one year 15 (353,731 ) (370,245 )

NET CURRENT ASSETS (56,118 ) 1,075,566

TOTAL ASSETS LESS CURRENT
LIABILITIES

12,634,775

13,766,459

CREDITORS
Amounts falling due after more than one year 16 (3,200,248 ) (3,281,079 )

NET ASSETS 9,434,527 10,485,380
FUNDS 19
Unrestricted funds 9,434,527 10,485,380
TOTAL FUNDS 9,434,527 10,485,380

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 11 October 2024 and were signed on its behalf by:





S Rand - Trustee

Bourneheights Limited

Cash Flow Statement
for the Year Ended 30 November 2023

30.11.23 30.11.22
Notes £ £

Cash flows from operating activities
Cash generated from operations 1 51,058 620,708
Interest paid (193,661 ) (198,283 )
Net cash (used in)/provided by operating activities (142,603 ) 422,425

Cash flows from investing activities
Purchase of investment property - (58,539 )
Interest received 104 -
Net cash provided by/(used in) investing activities 104 (58,539 )

Cash flows from financing activities
Loan repayments in year (80,833 ) (76,430 )
Net cash used in financing activities (80,833 ) (76,430 )

Change in cash and cash equivalents in
the reporting period

(223,332

)

287,456
Cash and cash equivalents at the
beginning of the reporting period

292,631

5,175
Cash and cash equivalents at the end of
the reporting period

69,299

292,631

Bourneheights Limited

Notes to the Cash Flow Statement
for the Year Ended 30 November 2023


1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM
OPERATING ACTIVITIES
30.11.23 30.11.22
£ £
Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities)

(1,050,853

)

307,805
Adjustments for:
Interest received (104 ) -
Interest paid 193,661 198,283
Decrease in debtors 924,866 659,478
Decrease in creditors (16,512 ) (544,858 )
Net cash provided by operations 51,058 620,708


2. ANALYSIS OF CHANGES IN NET DEBT

At 1/12/22 Cash flow At 30/11/23
£ £ £
Net cash
Cash at bank 292,631 (223,332 ) 69,299
292,631 (223,332 ) 69,299

Debt
Debts falling due within 1 year (80,837 ) 2 (80,835 )
Debts falling due after 1 year (3,281,079 ) 80,831 (3,200,248 )
(3,361,916 ) 80,833 (3,281,083 )
Total (3,069,285 ) (142,499 ) (3,211,784 )

Bourneheights Limited

Notes to the Financial Statements
for the Year Ended 30 November 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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.

Allocation and apportionment of costs
During the year, all costs incurred were in general nature and were expended from unrestricted fund.

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


Fixtures and fittings - 50% on cost

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.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Legal status
The company is limited by guarantee and does not have a share capital. The liabilty of every member is limited to £1 in the event of winding up.

Bourneheights Limited

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


2. DONATIONS AND LEGACIES
30.11.23 30.11.22
£ £
Donations 597,038 1,789,435

3. INVESTMENT INCOME
30.11.23 30.11.22
£ £
Rents received 816,688 728,780
Deposit account interest 104 -
816,792 728,780

4. RAISING FUNDS

Investment management costs
30.11.23 30.11.22
£ £
Legal and professional fees 13,000 17,849
Commission & letting fees paid 16,733 14,970
Repairs to property 31,000 38,608
Bad debts 701 9,105
Rent, rates, insurance and services 37,839 55,260
Postage, stationery and advertising 1,530 398
Bank charges 1,425 1,078
Exchange differences 38 (78 )
Sundry expenses 1,191 -
Interest payable and similar charges 193,661 198,283
297,118 335,473

5. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(see note
6)
£
Donations to Institutions
2,159,565


Bourneheights Limited

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


6. GRANTS PAYABLE
30.11.23 30.11.22
£ £
Donations to Institutions

2,159,565 1,866,937
The total grants paid to institutions during the year was as follows:
30.11.23 30.11.22
£ £
Belz Synagogue 11,279 -
British Friends of Mosdos Tchernobel - 567,500
Cosmon (Belz) Limited 23,600 -
The Gevurath Ari Torah Academy Trust 36,000 30,000
Hatzola Trust Limited - 25,000
Mercaz Torah Vechesed Ltd - 17,200
Moreshet Hatorah Ltd 603,510 75,500
Tchabe Kollel Limited 20,000 65,000
Friends of Gaon Yaakov 99,300 -
College for Higher Rabbinical Studies 32,000 -
The Telz Talmudical Academy and Talmud Torah Trust 36,000 -
The Talmud Torah Machzikei Hadass Trust 289,000 -
United Talmudical Associates Limited - 10,400
The ABC Trust - 10,000
Belz Foundation Ltd 27,110 38,100
Chasdei Aharon Limited - 50,000
Chasdei Sholom 48,000 25,000
Clapton Support and Advice 10,800 17,360
Dover Sholem Community Trust 220,000 40,700
Kollel Iyun 66,600 68,700
Mosdos Chernobil 141,705 168,615
Start Upright 15,000 55,720
Yesamach Levav 61,060 37,120
Yeshivat Geon Yaakov 171,000 120,000
Total Donations to Institutions less than £10,000 134,662 176,472
British Friends of Rinat Aharon - 29,000
College for Higher Rabbinical Studies - 134,000
Congregation Sharei Sholom Tchabe Limited 30,000 50,000
The Happy and Healthy Trust - 10,000
Side By Side (Children) Limited - 10,250
String of Pearls - 10,000
Westcliff Charedi Synagogue - 15,000
Yesodey Hatorah Girls School Limited - 10,300
Belz Israel Charitable Trust 20,000 -
Bikur Cholim Limited 12,800 -
Keren Habinyan Limited 20,000 -
Mifal Tzedoko V'chesed Limited 10,000 -
Success Stories 10,000 -
Yeshiva Machzikei Hadas USA 10,139 -
2,159,565 1,866,937


Bourneheights Limited

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


7. SUPPORT COSTS
Governance
costs
£
Other resources expended 8,000

8. NET INCOME/(EXPENDITURE)

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

30.11.23 30.11.22
£ £
Auditors' remuneration 8,000 8,000

9. TRUSTEES' REMUNERATION AND BENEFITS

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


Trustees' expenses

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


10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 1,789,435

Investment income 728,780
Total 2,518,215

EXPENDITURE ON
Raising funds 335,473

Charitable activities
Donations to Institutions
1,866,937

Other 8,000
Total 2,210,410

NET INCOME 307,805


Bourneheights Limited

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£

RECONCILIATION OF FUNDS
Total funds brought forward 10,177,575

TOTAL FUNDS CARRIED FORWARD 10,485,380

11. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 December 2022 and 30 November 2023 359
DEPRECIATION
At 1 December 2022 and 30 November 2023 359
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

12. FIXED ASSET INVESTMENTS
Unlisted
investments
£
MARKET VALUE
At 1 December 2022 and 30 November 2023 2,354
NET BOOK VALUE
At 30 November 2023 2,354
At 30 November 2022 2,354

There were no investment assets outside the UK.

The trustees revalued the Investment on a Open Market valuation.

The Fixed Asset Investment is a shareholding in Overture Investments Limited a company incorporated in England & Wales. Mr C Rand and Mr S Rand are directors of the Company.


Bourneheights Limited

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


13. INVESTMENT PROPERTY
£
FAIR VALUE
At 1 December 2022
and 30 November 2023 12,688,539
NET BOOK VALUE
At 30 November 2023 12,688,539
At 30 November 2022 12,688,539

Fair value at 30 November 2023 is represented by:
£
Valuation in 2020 2,485,944
Valuation in 2021 (3,236,185 )
Cost 13,438,780
12,688,539

The trustees who are very experienced in the property sector revalued the Investment Properties Portfolio on a Open Market valuation.

Property valuations are 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.

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£ £
Trade debtors 25,845 19,557
Other debtors 176,340 1,097,538
Prepayments and accrued income 26,129 36,085
228,314 1,153,180

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£ £
Bank loans and overdrafts (see note 17) 80,835 80,837
Trade creditors 1,500 540
Social security and other taxes 17,318 15,913
Other creditors 101,300 118,876
Accruals and deferred income 152,778 154,079
353,731 370,245


Bourneheights Limited

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£ £
Bank loans (see note 17) 3,200,248 3,281,079

17. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£ £
Amounts falling due within one year on demand:
Bank loans 80,835 80,837
Amounts falling between one and two years:
Bank loans - 1-2 years 80,835 85,497
Amounts falling due between two and five years:
Bank loans - 2-5 years 3,119,413 1,764,296
Amounts falling due in more than five years:

Repayable by instalments:
Bank loans more 5 yr by instal - 1,431,286

18. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£ £
Bank loans 3,281,083 3,361,916

All bank loans are secured on specific investment properties owned by Bourneheights Limited.

19. MOVEMENT IN FUNDS
Net
movement At
At 1/12/22 in funds 30/11/23
£ £ £
Unrestricted funds
General fund 10,485,380 (1,050,853 ) 9,434,527

TOTAL FUNDS 10,485,380 (1,050,853 ) 9,434,527

Bourneheights Limited

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


19. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 1,413,830 (2,464,683 ) (1,050,853 )

TOTAL FUNDS 1,413,830 (2,464,683 ) (1,050,853 )


Comparatives for movement in funds

Net
movement At
At 1/12/21 in funds 30/11/22
£ £ £
Unrestricted funds
General fund 10,177,575 307,805 10,485,380

TOTAL FUNDS 10,177,575 307,805 10,485,380

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

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 2,518,215 (2,210,410 ) 307,805

TOTAL FUNDS 2,518,215 (2,210,410 ) 307,805

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1/12/21 in funds 30/11/23
£ £ £
Unrestricted funds
General fund 10,177,575 (743,048 ) 9,434,527

TOTAL FUNDS 10,177,575 (743,048 ) 9,434,527

Bourneheights Limited

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 3,932,045 (4,675,093 ) (743,048 )

TOTAL FUNDS 3,932,045 (4,675,093 ) (743,048 )

20. CAPITAL COMMITMENTS
30.11.23 30.11.22
£ £
Contracted but not provided for in the financial statements - -

21. RELATED PARTY DISCLOSURES

In addition to the matters set out elsewhere in these Financial Statements, the following related party transactions should be noted.

(a) Donations received:

Donations received by the charity include the following amounts which were received from companies whose Directors are also Trustees of Bourneheights Limited, as follows:

2023
£

Redbrick Investments Limited 500,000

(b) Donations paid:

Donations made by the charity include the following amounts which were donated to charities, which have trustees of which are also Trustees of Bourneheights Limited, as follows:


2023
£

Belz Foundation Ltd 27,100
Cosmon (Belz) Limited 6,444
Friends of Gaon Yaakov 99,300
Ranbell Ltd 6,000

(c) Other debtors:

Other debtors include the following loans due from UK registered charities which have trustees and directors in common with Bourneheights Limited, as follows:

2023
£

Bourneheights Limited

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


21. RELATED PARTY DISCLOSURES - continued


Ranbell Ltd 173,517

(d) Other creditors:

Other creditors include the following loans due to UK registered companies which have trustees and directors in common with Bourneheights Limited, as follows:

2023
£

Thornmead Securities Ltd 31,175
Ravenscourt Securities Ltd 67,475