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COMPANY REGISTRATION NUMBER: 00999987
CHARITY REGISTRATION NUMBER: 262170
Koleiss Zedokoh Limited
Company Limited by Guarantee
Unaudited Financial Statements
5 April 2024
Koleiss Zedokoh Limited
Company Limited by Guarantee
Financial Statements
Year ended 5 April 2024
Pages
Trustees' annual report (incorporating the director's report)
1 to 3
Independent examiner's report to the trustees
4
Statement of financial activities (including income and expenditure account)
5
Statement of financial position
6
Notes to the financial statements
7 to 12
Koleiss Zedokoh Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 5 April 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 5 April 2024 .
Reference and administrative details
Registered charity name
Koleiss Zedokoh Limited
Charity registration number
262170
Company registration number
00999987
Principal office and registered
Heaton House
office
148 Bury Old Road
Manchester
M7 4SE
The trustees
H Weiss
R Ollech
(Retired 26 October 2023)
P Kohn
Z Weiss
(Retired 26 October 2023)
P Weiss
(Appointed 26 October 2023)
Independent examiner
D Schwarz FCCA
2nd Floor - Parkgates
Bury New Road
Prestwich
Manchester
M25 0TL
Structure, governance and management
Koleiss Zedokoh Limited is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 18 January 1971 as a company and the company number is 999987. It was registered as a charity on 5 March 1971 with a charity number 262170 .
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
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.
Objectives and activities
The objectives of the charity are:-
a) to foster, assist and promote the charitable activities of any institutions professing and teaching the principles of traditional Judaism
b) to advance religion in accordance with the Orthodox Jewish Faith
c) to give aid to and support needy persons in general.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to charitable institutions and organisations which accord with the objects of the charity.
Investment Policy
The Trust Deed authorises the Trustees to make and hold investments using the general fund of the charity.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
During the year a total of £47,668 was donated to various charitable institutions in accordance with the objects of the Charity.
Financial review
As at 5 April 2023 the charity held reserves of -£53,450 (2022:-£12,868).
Reserves Policy
The Unrestricted Fund represents the unrestricted funds arising from past operating results.
The trustees are satisfied that the balance of the Fund is an acceptable level of reserves. It is the policy of the charity to hold investments sufficient to generate the average annual grants made by the charity. For this purpose, reserves are maintained to enable the charity to take advantage of any possible investments arising.
The trustees' annual report and the strategic report were approved on 4 February 2025 and signed on behalf of the board of trustees by:
H Weiss
Trustee
Koleiss Zedokoh Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Koleiss Zedokoh Limited
Year ended 5 April 2024
I report to the trustees on my examination of the financial statements of Koleiss Zedokoh Limited ('the charity') for the year ended 5 April 2024.
Responsibilities and basis of report
The trustees are also the directors of the company for the purposes of company law are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
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 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 accounts to be reached.
D Schwarz FCCA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
4 February 2025
Koleiss Zedokoh Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 5 April 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
29,250
29,250
Investment income
6
93,608
93,608
91,461
---------
---------
--------
Total income
122,858
122,858
91,461
---------
---------
--------
Expenditure
Expenditure on charitable activities
7,8
65,666
65,666
49,246
---------
---------
--------
Total expenditure
65,666
65,666
49,246
---------
---------
--------
---------
---------
--------
Net income and net movement in funds
57,192
57,192
42,215
---------
---------
--------
Reconciliation of funds
Total funds brought forward
1,170,385
1,170,385
1,128,170
------------
------------
------------
Total funds carried forward
1,227,577
1,227,577
1,170,385
------------
------------
------------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Koleiss Zedokoh Limited
Company Limited by Guarantee
Statement of Financial Position
5 April 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
14
1,250,609
1,223,835
Current assets
Debtors
15
21,512
17,012
Cash at bank and in hand
82,238
51,320
---------
--------
103,750
68,332
Creditors: amounts falling due within one year
16
126,782
121,782
---------
---------
Net current liabilities
23,032
53,450
------------
------------
Total assets less current liabilities
1,227,577
1,170,385
------------
------------
Net assets
1,227,577
1,170,385
------------
------------
Funds of the charity
Unrestricted funds
1,227,577
1,170,385
------------
------------
Total charity funds
17
1,227,577
1,170,385
------------
------------
For the year ending 5 April 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 4 February 2025 , and are signed on behalf of the board by:
H Weiss
Trustee
Koleiss Zedokoh Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 5 April 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Heaton House, 148 Bury Old Road, Manchester, M7 4SE.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis due to the ongoing support of the major creditors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported at the year end.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. Investments in joint property syndicates This represents capital introduced by the company into the syndicates plus accrued surpluses less deficiencies but without revaluing the syndicate properties. Some of the syndicates in which the company is a participator have borrowings which are secured on the syndicate properties. The company accounts for its syndicate investments under the 'equity accounting' basis and thus the company's share of such borrowings are not included in these accounts.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by guarantee
The charity is a company limited by guarantee and has no share capital.
5. Donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donations
Donations
29,250
29,250
--------
--------
----
----
6. Investment income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Income from investment properties
93,148
93,148
91,372
91,372
Bank interest receivable
460
460
89
89
--------
--------
--------
--------
93,608
93,608
91,461
91,461
--------
--------
--------
--------
7. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Charitable activities
64,025
64,025
47,668
47,668
Support costs
1,641
1,641
1,578
1,578
--------
--------
--------
--------
65,666
65,666
49,246
49,246
--------
--------
--------
--------
8. Expenditure on charitable activities by activity type
Grant funding of activities
Support costs
Total funds 2024
Total fund 2023
£
£
£
£
Charitable activities
64,025
140
64,165
47,746
Governance costs
1,501
1,501
1,500
--------
-------
--------
--------
64,025
1,641
65,666
49,246
--------
-------
--------
--------
9. Analysis of support costs
Analysis of support costs activity 1
Total 2024
Total 2023
£
£
£
General office
140
140
78
Governance costs
1,501
1,501
1,500
-------
-------
-------
1,641
1,641
1,578
-------
-------
-------
10. Analysis of grants
2024
2023
£
£
Grants to institutions
Asser Bishvil Foundation
1,000
3,000
Bederech Kovod
4,000
5,000
Chareidim Beis Shemesh
5,000
Chasdei Shlomo
10,000
Chasdei Yoel
5,000
10,000
Chernobyl
10,000
Cong Yetev Lev
12,700
Deleine Ltd
4,500
Friends of Maasei Tzedokoh
5,000
Shaarei Torah
3,000
Zorea Tzedokos
3,000
Other Grants
13,525
16,968
--------
--------
64,025
47,668
--------
--------
Total grants
64,025
47,668
--------
--------
The above grants were made to institutions and went towards the following purposes; the relief of poverty, relief of those in need by reason of ill health or disability, the advancement of Jewish religion and the advancement of Jewish religious education.
11. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
1,500
1,500
-------
-------
12. Staff costs
Nil Nil
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
14. Investments
Investment properties
Other investments
Total
£
£
£
Cost or valuation
At 6 April 2023
4,227
1,219,608
1,223,835
Additions
158,413
158,413
Disposals
(131,639)
(131,639)
-------
------------
------------
At 5 April 2024
4,227
1,246,382
1,250,609
-------
------------
------------
Impairment
At 6 April 2023 and 5 April 2024
------------
------------
Carrying amount
At 5 April 2024
4,227
1,246,382
1,250,609
-------
------------
------------
At 5 April 2023
4,227
1,219,608
1,223,835
-------
------------
------------
All investments shown above are held at valuation.
Investment properties
The investment properties are stated at market value as per the trustees valuation at the year end.
Investments in joint property syndicates
Other Investments are joint property syndicates. This is comprised of capital introduced by the charity into the syndicates plus accrued surpluses less deficiencies but without revaluing the syndicate properties.
15. Debtors
2024
2023
£
£
Other debtors
21,512
17,012
--------
--------
16. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,534
1,534
Other creditors
125,248
120,248
---------
---------
126,782
121,782
---------
---------
17. Analysis of charitable funds
Unrestricted funds
At 6 April 2023
Income
Expenditure
At 5 April 2024
£
£
£
£
General funds
1,170,385
122,858
(65,666)
1,227,577
------------
---------
--------
------------
At 6 April 2022
Income
Expenditure
At 5 April 2023
£
£
£
£
General funds
1,128,170
91,461
(49,246)
1,170,385
------------
--------
--------
------------
18. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Investments
1,250,609
1,250,609
Current assets
103,750
103,750
Creditors less than 1 year
(126,782)
(126,782)
------------
------------
Net assets
1,227,577
1,227,577
------------
------------
Unrestricted Funds
Total Funds 2023
£
£
Investments
1,223,835
1,223,835
Current assets
68,332
68,332
Creditors less than 1 year
(121,782)
(121,782)
------------
------------
Net assets
1,170,385
1,170,385
------------
------------
19. Related parties
Included in other debtors are amounts due from the following charities whose trustees are also trustees of this charity;
2024 2023
£ £
Tradetone Limited 4,200 4,200
Localtrent Limited 11,500 11,500
Other Creditors include amounts due to the following charities whose trustees are also trustees of this charity;
2024 2023
£ £
Beis Yoel 35,000 35,000
All the above loans are interest free and repayable on demand.