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REGISTERED COMPANY NUMBER: 01249592 (England and Wales)
REGISTERED CHARITY NUMBER: 271172



















RIOSAN LIMITED
(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

RIOSAN LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Reference and Administrative Details 1

Report of the Trustees 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 12

RIOSAN LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2024



TRUSTEES N N Grunbaum
S Heiman
A Lewin
G Mannes
E Z Rabinowitz
G Schleider
Dr S G Springer


COMPANY SECRETARY E Z Rabinowitz


REGISTERED OFFICE 31 Leabourne Road
London
N16 6SU


REGISTERED COMPANY
NUMBER
01249592 (England and Wales)


REGISTERED CHARITY
NUMBER
271172


INDEPENDENT EXAMINER Sugarwhite Meyer HS Ltd
First Floor
94 Stamford Hill
London
N16 6XS


BANKERS Lloyds Bank plc
182 High Street
London
E17 7HJ

RIOSAN LIMITED (REGISTERED NUMBER: 01249592)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


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 31 March 2024. 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).

REFERENCE AND ADMINISTRATIVE INFORMATION
The information is shown on page 1 of the financial statements and forms part of this report.

OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity was established to advance religion in accordance with the Orthodox Jewish faith and for such other purposes as are recognised by English law as charitable.

The trustees confirm that they have given due regard to the Charity Commission's guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
Donations received were down almost 11% which was compensated for by a 31% increase in other income received; overall income increased by close to 6%.

Grantmaking was materially in line with the level sustained in the previous year. Synagogue expenditure was reduced by almost 14%; overall expenditure decreased by 8%. The charity recorded a surplus for the year.

FINANCIAL REVIEW
Reserves policy
The Trustees maintain reserves in order to ensure that they can continue the activities of the Charity. A portion of the accumulated reserves is, at the Trustees' discretion when required, utilised to fund fixed assets used by the Charity. Surplus funds are invested in short-term bank deposits. Reserves at the year end stood at £534,235 (2023: £507,441).

FUTURE PLANS
There are no current plans to change the activities or modus operandi in the foreseeable future.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 17th March 1976.

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 to which the charity is exposed and confirm that they have established systems to mitigate them.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 6 January 2025 and signed on its behalf by:



E Z Rabinowitz - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
RIOSAN LIMITED

Independent examiner's report to the trustees of Riosan Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also 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 your charity's accounts as 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.








E Meyer FCA BSc

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

6 January 2025

RIOSAN LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 83,921 94,293

Other trading activities 3 82,510 63,038
Investment income 4 153 18
Total 166,584 157,349

EXPENDITURE ON
Charitable activities
Grantmaking 49,400 48,200
Synagogue expenditure 88,512 102,917
Support costs 1,878 1,917
Total 139,790 153,034

NET INCOME 26,794 4,315


RECONCILIATION OF FUNDS
Total funds brought forward 507,441 503,126

TOTAL FUNDS CARRIED FORWARD 534,235 507,441

RIOSAN LIMITED (REGISTERED NUMBER: 01249592)

BALANCE SHEET
31 MARCH 2024

2024 2023
Total Total
funds funds
Notes £    £   
FIXED ASSETS
Tangible assets 10 533,203 538,097

CURRENT ASSETS
Cash at bank and in hand 60,513 36,826

CREDITORS
Amounts falling due within one year 11 (49,481 ) (49,482 )

NET CURRENT ASSETS 11,032 (12,656 )

TOTAL ASSETS LESS CURRENT
LIABILITIES

544,235

525,441

CREDITORS
Amounts falling due after more than one year 12 (10,000 ) (18,000 )

NET ASSETS 534,235 507,441
FUNDS 14
Unrestricted funds:
General fund 534,235 507,441
TOTAL FUNDS 534,235 507,441

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


RIOSAN LIMITED (REGISTERED NUMBER: 01249592)

BALANCE SHEET - continued
31 MARCH 2024

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 6 January 2025 and were signed on its behalf by:





E Z Rabinowitz - Trustee

RIOSAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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 (FRS102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.

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. The following specific policies are applied to particular categories of income:

Donations are accounted for when received. All other income is recognised on a receivable basis.

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.

Grants are only recognised in the accounts when paid.

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

Governance costs are those incurred in connection with 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.


Fixtures and fittings - 25% on reducing balance
Library - at varying rates on cost

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

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

Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the amount expected to be received or paid and not discounted.

RIOSAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. DONATIONS AND LEGACIES
2024 2023
Unrestricted Total
funds funds
£    £   
Donations 83,921 94,293

3. OTHER TRADING ACTIVITIES
2024 2023
Unrestricted Total
funds funds
£    £   
Other charitable income 82,510 63,038

4. INVESTMENT INCOME
2024 2023
Unrestricted Total
funds funds
£    £   
Interest receivable 153 18

5. GRANTS PAYABLE
2024 2023
£    £   
Grantmaking 48,900 48,200

The total grants paid to individuals during the year was as follows:
2024 2023
£    £   
Advancement of religion 9,000 11,000
Relief of poverty 12,000 10,000
Education 27,900 27,200
48,900 48,200

6. SUPPORT COSTS
Governance
Finance costs Totals
£    £    £   
Support costs 161 1,717 1,878

RIOSAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. SUPPORT COSTS - continued

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

Finance
2024 2023
Support Total
costs activities
£    £   
Bank charges 161 200
Governance costs
2024 2023
Support Total
costs activities
£    £   
Independent examiner's fee 780 780
Independent examiner's other fees 780 780
General expenses 157 157
1,717 1,717

7. NET INCOME/(EXPENDITURE)

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

2024 2023
£    £   
Depreciation - owned assets 5,418 5,384

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


9. AVERAGE STAFF NUMBERS

The average number of staff in the year was 2 (2023: 2).


RIOSAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Library Totals
£    £    £    £   
COST
At 1 April 2023 528,696 109,308 119,906 757,910
Additions - 524 - 524
At 31 March 2024 528,696 109,832 119,906 758,434
DEPRECIATION
At 1 April 2023 - 108,159 111,654 219,813
Charge for year - 418 5,000 5,418
At 31 March 2024 - 108,577 116,654 225,231
NET BOOK VALUE
At 31 March 2024 528,696 1,255 3,252 533,203
At 31 March 2023 528,696 1,149 8,252 538,097

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 13) 8,000 8,000
Other creditors 39,922 39,922
Accruals and deferred income 1,559 1,560
49,481 49,482

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 13) 10,000 18,000

13. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year on demand:
Bank loans 8,000 8,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 10,000 18,000


RIOSAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

14. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 507,441 26,794 534,235

TOTAL FUNDS 507,441 26,794 534,235

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 166,584 (139,790 ) 26,794

TOTAL FUNDS 166,584 (139,790 ) 26,794


Comparatives for movement in funds

Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund 503,126 4,315 507,441

TOTAL FUNDS 503,126 4,315 507,441

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 157,349 (153,034 ) 4,315

TOTAL FUNDS 157,349 (153,034 ) 4,315


RIOSAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

15. RELATED PARTY DISCLOSURES

The Charity received donations totalling £21,744 (2023: £46,260 ) from Crewpride Limited, a charity with the same trustees.