Charity registration number 273664
Company registration number 01292729 (England and Wales)
DILLHAVEN LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
DILLHAVEN LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs R Ellinson
Mr S Ellinson
Mr Z Ellinson
Secretary
Mr D Ellinson
Charity number
273664
Company number
01292729
Registered office
71 Windermere Street
Gateshead
Tyne and Wear
NE8 1TX
Independent examiner
Robson Laidler Accountants Limited
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
NE2 1TJ
Bankers
HSBC Bank plc
110 Grey Street
Newcastle upon Tyne
Tyne and Wear
NE1 6JG
DILLHAVEN LIMITED
CONTENTS
Page
Trustees' report
1 - 2
Statement of trustees' responsibilities
3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 12
DILLHAVEN LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in the financial statements, the Charities Act 2011 and "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

The main objective of the company is the furtherance of Jewish religion and education. The company is a registered charity.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities.

Volunteers

The company is not dependent upon voluntary helpers.

Achievements and performance

Charitable activities

The deficit of income over expenditure for the year was £12,601 (2022: deficit £12,798) with no gains or losses on the revaluation of investment property. The charity donated £193,640 to charities during the year (2023: £243,700).

 

The charity's aims over the next few years are to generate rents from the investment portfolio to give it sufficient funds to be able to pay similar levels of charitable gifts to Jewish religious and educational charities.

Financial review

Principal funding sources

The company's income consists of rents received from its investment properties and charitable donations from related parties. The income is then distributed to various Jewish charities and organisations in the form of donations.

 

The trustees regularly review the property market to find suitable alternative properties to invest in. There have been no additions or disposals of properties during the year.

Reserves policy

At 31 March 2024, the charity had total reserves of £598,520 (2023: £611,121). The charity does not currently have a formal reserves policy but plans to use available funds to finance its investments in order to generate income for future years.

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

 

The company is limited by guarantee and is governed by its memorandum and articles of association. The company is a registered charity.

Mrs R Ellinson
Mr S Ellinson
Mr Z Ellinson
DILLHAVEN LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Recruitment and appointment of trustees

From time to time it is necessary for the charity to recruit new trustees to replace those that have either resigned during their term of office, or by way of anticipating planned retirements, after the completion of a single term.

 

When a vacancy occurs, the Board will determine the mix of skills and experience needed so as to ensure a fully functioning team of trustees and will seek to identify individuals who appear to have the qualities and interest in what we do.

Organisational structure

The trustees meet on a regular basis to administer all matters in respect of the charity including the payment of donations.

SHARE CAPITAL

The company is limited by guarantee and does not have a share capital.

 

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

The trustees' report was approved by the Board of Trustees.

Mr Z Ellinson
Trustee
30 January 2025
DILLHAVEN LIMITED
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

The trustees, who are also the directors of Dillhaven Limited for the purpose 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 year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DILLHAVEN LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF DILLHAVEN LIMITED
- 4 -

I report to the trustees on my examination of the financial statements of Dillhaven Limited (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements 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 financial statements 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 financial statements to be reached.

Peter Charles BSc FCA
Robson Laidler Accountants Limited
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
NE2 1TJ
Dated: 30 January 2025
DILLHAVEN LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
2
182,500
213,751
Investments
3
55,852
59,815
Total income
238,352
273,566
Expenditure on:
Raising funds
4
55,830
41,234
Charitable activities
5
195,123
245,130
Total expenditure
250,953
286,364
Net expenditure and movement in funds
(12,601)
(12,798)
Reconciliation of funds:
Fund balances at 1 April 2023
611,121
623,919
Fund balances at 31 March 2024
598,520
611,121

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

DILLHAVEN LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 6 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
11
625,000
625,000
Current assets
Debtors
12
51,840
17,933
Cash at bank and in hand
4,133
2,028
55,973
19,961
Creditors: amounts falling due within one year
13
(82,453)
(33,840)
Net current liabilities
(26,480)
(13,879)
Total assets less current liabilities
598,520
611,121
The funds of the charity
Unrestricted funds
14
598,520
611,121
598,520
611,121

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the trustees on 30 January 2025
Mr Z Ellinson
Trustee
Company registration number 01292729 (England and Wales)
DILLHAVEN LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
1
Accounting policies
Charity information

Dillhaven Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 71 Windermere Street, Gateshead, Tyne and Wear, NE8 1TX.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in UK sterling which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
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.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation, and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

1.3
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.

1.4
Investment properties

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.

 

The methods and significant assumptions used to ascertain the fair value of £625,000 and fair value movement of £Nil included in the income/expenditure for the year are as follows:

 

The investment property has been valued at fair value based on trustees' estimates

1.5
Impairment of assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

DILLHAVEN LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 8 -
1.6
Cash and cash equivalents

Cash and cash equivalents comprises cash in hand and current balances with banks and other institutions, which are readily convertible to known amounts of cash and which are subject to insignificant risk of change in value.

1.7
Taxation

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

1.8
Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

1.9

Investment income

Investment income represents rents receivable in accordance with the underlying property leases.

1.10

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.11

Fund accounting

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

 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

2
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
146,000
171,000
Gift aid
36,500
42,751
182,500
213,751
3

Investments

Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Rents receivable
55,852
59,815
DILLHAVEN LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
4

Raising funds

Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Investment management costs

Insurance

376
1,484

Rates and water

-
650
Property repairs
7,514
6,801
Legal and professional fees
47,940
32,299
55,830
41,234
55,830
41,234
5
Expenditure on charitable activities
Jewish religious activities
Jewish religious activities
2024
2023
£
£
Direct costs
Grant funding of activities (see note 6)
193,640
243,700
Share of support and governance costs (see note 7)
Support
1,483
1,430
195,123
245,130
Analysis by fund
Unrestricted funds
195,123
245,130
DILLHAVEN LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
6
Grants payable

Charitable Expenditure

Charitable Expenditure

2024
2023
£
£
Grants to institutions:
VHLT
25,000
-
T&S Trust Fund
8,500
21,000
Gateshead Kehilla Kollel
10,000
36,000
Yishaya Adler Memorial Fund
64,540
67,000
Yad Leyad
-
15,000
The Telz Talmudical Academy and Talmud Torah Trust
-
20,000
British Friends of Igud Hakolelim
-
30,000
The Gevurath Ari Torah Academy Trust
20,000
30,000
Friends of Ateres Moshe
20,000
10,000
Comet Charities
10,000
-
North London Welfare and Educational Foundation
10,000
-
Other (less than £10,000)
25,600
14,700
193,640
243,700
7
Support costs allocated to activities
2024
2023
£
£
Governance costs
1,483
1,430
Analysed between:
Jewish religious activities
1,483
1,430
2024
2023
Governance costs comprise:
£
£
Legal and professional
194
262
Independent examiner fee
1,289
1,168
1,483
1,430
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.

 

DILLHAVEN LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
9
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
10
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
625,000

If the investment property had not been revalued it would be included in the accounts at a historic cost of £241,538 (2023: £241,538).

12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Taxation recoverable
-
9,001
Prepayments and accrued income
51,840
8,932
51,840
17,933
13
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
16,000
16,000
Accruals and deferred income
66,453
17,840
82,453
33,840
DILLHAVEN LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
14
Unrestricted funds
At 1 April 2023
Incoming resources
Resources expended
At 31 March 2024
£
£
£
£
General funds
611,121
238,352
(250,953)
598,520
Previous year:
At 1 April 2022
Incoming resources
Resources expended
At 31 March 2023
£
£
£
£
General funds
623,919
273,566
(286,364)
611,121
15
Analysis of net assets between funds
Unrestricted
funds
2024
£
At 31 March 2024:
Investment properties
625,000
Current assets/(liabilities)
(26,480)
598,520
Unrestricted
funds
2023
£
At 31 March 2023:
Investment properties
625,000
Current assets/(liabilities)
(13,879)
611,121
16
Related party transactions
Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Included within other creditors is an unsecured loan of £15,500 (2023: £15,500) from R Ellinson, a trustee of the charity.

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