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REGISTERED COMPANY NUMBER: 01887118 (England and Wales)
REGISTERED CHARITY NUMBER: 1049361




















Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2024

for

REIFER MEMORIAL LIMITED

REIFER MEMORIAL LIMITED

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5

Cash Flow Statement 6

Notes to the Cash Flow Statement 7

Notes to the Financial Statements 8 to 11

REIFER MEMORIAL LIMITED (REGISTERED NUMBER: 01887118)

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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association. There are no investment restrictions.

The charity was established to support the activities of religious Jewish organisations and to advance the said religion in accordance with the Orthodox Jewish Faith, especially those in the field of education and relief of poverty. The Trustees regularly support a significant number of institutions and organisations both in the United Kingdom and abroad which meet the charity's criteria.

The charity also supports those organisations which are solely committed to the relief of poverty. Such organisations help needy Jewish families both through financial and non financial grants which fall within the objectives of the charity.

Significant activities
During the year the charity continued its charitable activities in support of religious, educational and other charitable institutions. In the year charitable donations amounted to £500,900 (2023: £500,855). More than 25 separate charities benefited from these donations.

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 charity's aims and objectives and in planning future activities and setting the grant making for the year.

Grantmaking
The charity is a grant making charity. Grants and donations are made for the advancement of the Jewish religion, education and for the relief of poverty in accordance with the Memorandum and Articles of Association.

In making grants and donations, the Trustees use their personal knowledge of the various institutions, their representatives and reputations. The Trustees monitor the application of the funds by meeting with the representatives of the institutions and obtaining information as to the utilisation of the funds.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Trustees are satisfied with the performance of the charity with regards the level of donations received and the grants made during the year.

FINANCIAL REVIEW
Financial position
The charity had a strong balance sheet at the year end. Total unrestricted funds as at the year end amounted to £3,048,000 (2023: £3,118,075).

The increase in funds was due to a lesser amount spent on grants payable over total income. This is in line with the reserves policy of the charity.

Reserves policy
The Trustees have in mind that in order to put charitable grant making on a more secure footing it would be expedient to invest in secure investments. Therefore the reserves of £3,048,000 (2023: £3,118,075) are being built up.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
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.


REIFER MEMORIAL LIMITED (REGISTERED NUMBER: 01887118)

Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2024


REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01887118 (England and Wales)

Registered Charity number
1049361

Registered office
23 Craven Walk
London
N16 6BS

Trustees
M Reifer
M D Reifer
A Reifer

Company Secretary
A Reifer

Independent Examiner
Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

Solicitors
Kiteleys Solicitors
40 Haven Road
Canford Cliffs
Poole
Dorset
BH13 7LP

Surveyors
Peter G. May Chartered Surveyors
7 The Square
Wimborne
Dorset
BH21 1JA

Approved by order of the board of trustees on 30 January 2025 and signed on its behalf by:





A Reifer - Trustee

Independent Examiner's Report to the Trustees of
Reifer Memorial Limited


Independent examiner's report to the trustees of Reifer Memorial 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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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.








Daniel Fine FCA

Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

30 January 2025

REIFER MEMORIAL 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 2 409,150 390,981

Investment income 3 133,610 140,206
Total 542,760 531,187

EXPENDITURE ON
Raising funds 4 5,320 10,019

Charitable activities 5
Other charitable activities 6,615 2,113
Grants for the relief of poverty 222,700 169,050
Grants for educational institutions 258,250 302,005
Grants for the relief of sickness 19,950 29,800
Total 512,835 512,987

Net gains/(losses) on investments (100,000 ) (25,000 )

NET INCOME/(EXPENDITURE) (70,075 ) (6,800 )


RECONCILIATION OF FUNDS
Total funds brought forward 3,118,075 3,124,875

TOTAL FUNDS CARRIED FORWARD 3,048,000 3,118,075

REIFER MEMORIAL LIMITED (REGISTERED NUMBER: 01887118)

Balance Sheet
31 MARCH 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Investment property 9 2,187,804 2,287,804

CURRENT ASSETS
Debtors 10 25,842 127,972
Cash at bank 957,597 840,924
983,439 968,896

CREDITORS
Amounts falling due within one year 11 (123,243 ) (138,625 )

NET CURRENT ASSETS 860,196 830,271

TOTAL ASSETS LESS CURRENT LIABILITIES 3,048,000 3,118,075

NET ASSETS 3,048,000 3,118,075
FUNDS
Unrestricted funds 3,048,000 3,118,075
TOTAL FUNDS 3,048,000 3,118,075

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.

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 30 January 2025 and were signed on its behalf by:





A Reifer - Trustee

REIFER MEMORIAL LIMITED

Cash Flow Statement
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 106,860 (73,043 )
Net cash provided by/(used in) operating activities 106,860 (73,043 )

Cash flows from investing activities
Purchase of investment property - (511,360 )
Interest received 21,911 3,571
Net cash provided by/(used in) investing activities 21,911 (507,789 )

Change in cash and cash equivalents in
the reporting period

128,771

(580,832

)
Cash and cash equivalents at the
beginning of the reporting period

2

828,826

1,409,658
Cash and cash equivalents at the end of
the reporting period

2

957,597

828,826

REIFER MEMORIAL LIMITED

Notes to the Cash Flow Statement
FOR THE YEAR ENDED 31 MARCH 2024


1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024 2023
£    £   
Net expenditure for the reporting period (as per the Statement of
Financial Activities)

(70,075

)

(6,800

)
Adjustments for:
Losses on investments 100,000 25,000
Interest received (21,911 ) (3,571 )
Decrease/(increase) in debtors 102,130 (87,972 )
(Decrease)/increase in creditors (3,284 ) 300
Net cash provided by/(used in) operations 106,860 (73,043 )

2. ANALYSIS OF CASH AND CASH EQUIVALENTS
2024 2023
£    £   
Notice deposits (less than 3 months) 957,597 840,924
Overdrafts included in bank loans and overdrafts falling due within one year - (12,098 )
Total cash and cash equivalents 957,597 828,826



3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank 840,924 116,673 957,597
Bank overdraft (12,098 ) 12,098 -
828,826 128,771 957,597
Total 828,826 128,771 957,597

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

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

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.

Investment property
Investment properties are initially recognised at purchase price plus any directly attributable costs. Subsequently, investment properties are measured at fair value with any changes to fair value transferred to 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.

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.

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

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors and loans from banks.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


REIFER MEMORIAL LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. DONATIONS AND LEGACIES
2024 2023
£    £   
Donations 384,150 380,981
Gift aid 25,000 10,000
409,150 390,981

3. INVESTMENT INCOME
2024 2023
£    £   
Rents received 111,699 136,635
Deposit account interest 21,911 3,571
133,610 140,206

4. RAISING FUNDS

Investment management costs
2024 2023
£    £   
Property insurance 118 494
Rent collection 1,908 8,664
Property repairs 3,294 861
5,320 10,019

5. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
(see note costs (see
6) note 7) Totals
£    £    £   
Other charitable activities - 6,615 6,615
Grants for the relief of poverty 222,700 - 222,700
Grants for educational institutions 258,250 - 258,250
Grants for the relief of sickness 19,950 - 19,950
500,900 6,615 507,515

6. GRANTS PAYABLE
2024 2023
£    £   
Grants for the relief of poverty 222,700 169,050
Grants for educational institutions 258,250 302,005
Grants for the relief of sickness 19,950 29,800
500,900 500,855

The total grants paid to institutions during the year was £500,900 (£500,855). A summary of grants made to institutions during the year is as follows:

Charitable organisation: Amount (£ )

Asate Limited 45,000
Comet Charities Ltd 45,000

REIFER MEMORIAL LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. GRANTS PAYABLE - continued

Shir Chesed Beis Yisroel 30,000
North London Welfare And Educational Foundation 30,000
Yad Vochessed Association Limited 22,000
Beis Aharon Trust Ltd 22,000
E M Shasha Foundation Limited 20,000
The Rehabilitation Trust 20,000
Keren Zedakah 19,000
Chasdei Sorele 18,000
Cometville Limited 18,000
Mifal Hachessed Vehatzedokoh 18,000
Care All Limited 15,000
Well of Torah 15,000
Ahavat Hesed UK 15,000
Yeshuos Shabbos 14,700
Chevras Mo'oz Ladol 14,600
Dalaville Limited 13,000
Heichalei Hakodesh Centre Machnovke Belz 13,000
Keren Habinyan Limited 12,500
Chasdei Dov Trust 11,500
Mifal Tzedoko V'chesed Limited 10,000
Other 59,600

7. SUPPORT COSTS
Governance
costs
£   
Other charitable activities 6,615

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. INVESTMENT PROPERTY
£   
FAIR VALUE
At 1 April 2023 2,287,804
Impairments (100,000 )
At 31 March 2024 2,187,804
NET BOOK VALUE
At 31 March 2024 2,187,804
At 31 March 2023 2,287,804


REIFER MEMORIAL LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,842 77,972
Other debtors 20,000 50,000
25,842 127,972

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 12) - 12,098
Amounts owed to participating interests 108,643 108,643
Accruals and deferred income 14,600 17,884
123,243 138,625

12. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year on demand:
Bank overdrafts - 12,098

13. RELATED PARTY DISCLOSURES

The company is controlled by members of the Reifer family. The following amounts were owed to companies under common control at the year end:-


20212020
£   £   
Terrace Investments Ltd2,0432,043
Hamfrith Properties Ltd 15,00015,000
Heyford Properties Ltd29,00029,000
Homeway Properties Ltd1,0001,000
Hilsey Investments Ltd26,10026,100
Ilderstates Ltd35,50035,500
108,643108,643

These loans were non interest bearing and were repayable by mutual consent