Charity registration number 1094271 (England and Wales)
Company registration number 04528459
WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
S E Elias
J M Joseph
N J Esterkin
K Black
Charity number
1094271
Company number
04528459
Registered office
2nd Floor
1 Ashley Road
Altrincham
WA14 2DT
Accountants
Lopian Gross Barnett & Co
1st Floor, Cloister House
Riverside
New Bailey Street
Manchester
M3 5FS
WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
CONTENTS
Page
Trustees report
1 - 2
Accountants' report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 11
WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 5 APRIL 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 5 April 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities Act 2011, charity's Articles of Association, the Companies Act 2006 and the Statement of Recommended Practice to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities.

 

Objectives and activities

The Charity’s purposes as set out in the company’s Memorandum of Association are to benefit the public by the establishment and maintenance of Synagogues for the educational and religious activities relating to the Orthodox Jewish faith.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The Trustees do not intend to make any specific grants. Funds generated will be used for the improvement of the premises, as and when required.

Strategic report

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the trustees to present a strategic report.

Achievements and performance

The Company’s principal activity is the provision of premises for charitable purposes.

 

The total of incoming resources from rental income was £12,000.

 

Property expenses and other expenses were £12,912 and governance costs were £2,061.

 

The net expenditure for the year was £2,973.

 

No charitable distributions were made during the year.

Financial review

The Trustees' reserves policy is to use funds for the repair and renovation of the premises, as and when circumstances arise. At the balance sheet date the reserves (all unrestricted) amounted to £3,111,257 (2023 - £3,114,230).

Structure, governance and management

The charity is a company limited by guarantee and has no share capital.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

S E Elias
J M Joseph
N J Esterkin
K Black

Appointment of other Trustees is at the discretion of the existing Trustees.

Trustee S E Elias has been delegated the day to day management of the company.

WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 5 APRIL 2024
- 2 -

The organisation is a charitable company limited by guarantee, incorporated on 6 September 2002 and registered as a charity on 21 October 2002. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association as amended by a Special Resolution dated 4 February 2005.

The company achieves its objectives of providing educational and religious activities relating to the Orthodox Jewish faith in conjunction with the South Manchester Jewish Student Trust Limited, which is a charitable company that is connected to the trustees and is responsible for the provision of Kosher food facilities at the Synagogue maintained by the Wilbraham Road (Manchester) Trust Limited.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The trustees report was approved by the Board of Trustees.

S E Elias
Trustee
Dated: 4 February 2025
WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED FOR THE YEAR ENDED 5 APRIL 2024
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wilbraham Road (Manchester) Trust Limited for the year ended 5 April 2024, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 28 February 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Wilbraham Road (Manchester) Trust Limited and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wilbraham Road (Manchester) Trust Limited and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that Wilbraham Road (Manchester) Trust Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Wilbraham Road (Manchester) Trust Limited. You consider that Wilbraham Road (Manchester) Trust Limited is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of Wilbraham Road (Manchester) Trust Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lopian Gross Barnett & Co
Chartered Accountants
1st Floor, Cloister House
Riverside
New Bailey Street
Manchester
M3 5FS
5 February 2025
WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2024
- 4 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Investments
3
12,000
12,000
Total income
12,000
12,000
Expenditure on:
Other expenses
4
14,973
27,078
Total expenditure
14,973
27,078
Net expenditure and movement in funds
(2,973)
(15,078)
Reconciliation of funds:
Fund balances at 6 April 2023
3,114,230
3,129,308
Fund balances at 5 April 2024
3,111,257
3,114,230

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

WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
BALANCE SHEET
AS AT 5 APRIL 2024
05 April 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
3,059,709
3,060,182
Current assets
Stocks
11
1
1
Debtors
12
655,005
651,376
Cash at bank and in hand
17,394
23,031
672,400
674,408
Creditors: amounts falling due within one year
13
(620,852)
(620,360)
Net current assets
51,548
54,048
Total assets less current liabilities
3,111,257
3,114,230
The funds of the charity
Unrestricted funds
14
3,111,257
3,114,230
3,111,257
3,114,230

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 5 April 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 4 February 2025
S E Elias
Trustee
Company registration number 04528459 (England and Wales)
WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
- 6 -
1
Accounting policies
Charity information

Wilbraham Road (Manchester) Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 2nd Floor, 1 Ashley Road, Altrincham, WA14 2DT.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles, 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 sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

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

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4
Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

 

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

 

Investment income represents amounts receivable for rentals and services net of VAT. The rental income is recognised on the commencement of a lease, adjusting for any rent free periods.

WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
1
Accounting policies
(Continued)
- 7 -
1.5
Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred.    

 

Charitable activity expenditure are costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

 

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.

 

Charitable distributions represent donations paid to religious, educational and similar charities. There were no distributions during the year as further expenditure is to be incurred on the property.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially measured at cost and subsequently measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in net income/(expenditure) for the year.

Fixtures, fittings & equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
1
Accounting policies
(Continued)
- 8 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10

Reserves

The total reserves included in the accounts are all unrestricted.

1.11

Taxation

The activities of Wilbraham Road (Manchester) Trust Limited are exempt from taxation under Part 11 of the Corporation Tax Act 2010 definition of a charity for tax purposes.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Rental income
12,000
12,000
WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 9 -
4
Other expenses
Maintenance
Maintenance
of properties
of properties
2024
2023
£
£
Depreciation
473
630

Maintenance of properties

2,965
7,843

Property running expenses

8,886
6,963

Sundry expenses

48
248

Provision for bad/doubtful debts

-
7,568

Consultancy fees

540
1,740
12,912
24,992
Share of governance costs (see note 5)
2,061
2,086
14,973
27,078
5
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
£
£
£
£
£
£
Accountancy fees
-
1,980
1,980
-
2,040
2,040

Bank charges

-
81
81
-
46
46
-
2,061
2,061
-
2,086
2,086
Analysed between
Charitable activities
-
2,061
2,061
-
2,086
2,086

 

6
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
473
630
7
Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

 

None of the trustees (or any persons connected with them) received any reimbursement of expenses from the charity during the year.

WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 10 -
8
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 £60,000 or more (2023 - £nil).
9
Taxation

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

10
Tangible fixed assets
Land and buildings
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 6 April 2023
3,058,291
52,866
3,111,157
At 5 April 2024
3,058,291
52,866
3,111,157
Depreciation and impairment
At 6 April 2023
-
50,975
50,975
Depreciation charged in the year
-
473
473
At 5 April 2024
-
51,448
51,448
Carrying amount
At 5 April 2024
3,058,291
1,418
3,059,709
At 5 April 2023
3,058,291
1,891
3,060,182
11
Stocks
2024
2023
£
£
Synagogue library books
1
1
WILBRAHAM ROAD (MANCHESTER) TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 11 -
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,000
-
Other debtors
651,907
649,295
Prepayments and accrued income
2,098
2,081
655,005
651,376

Included within other debtors is a related party loan of £640,000 (2023 - £640,000) to The Shaare Hayim Congregation, a charity where S Elias is the treasurer of the Congregation. The loan is interest free and secured against the land and buildings of the Congregation and is considered that the Congregation has sufficient assets and is likely to realise funds from its property assets with which to repay the loan.

13
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
540
2,195
Other creditors
600,000
600,000
Accruals and deferred income
20,312
18,165
620,852
620,360

Included within other creditors is a related party loan of £600,000 (2023 - £600,000) from The George Elias Charitable Trust, a charity in which S Elias is a trustee.

14
Unrestricted funds

These are unrestricted funds which are material to the charity's activities made up as follows:

At 6 April 2023
Incoming resources
Resources expended
At 5 April 2024
£
£
£
£
General funds
3,114,230
12,000
(14,973)
3,111,257
Previous year:
At 6 April 2022
Incoming resources
Resources expended
At 5 April 2023
£
£
£
£
General funds
3,129,308
12,000
(27,078)
3,114,230
15
Related party transactions

There were no further disclosable related party transactions during the year (2023 - £nil), other than those already disclosed in the accounts.

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