Charity registration number 1172206
Company registration number 10198149 (England and Wales)
BERKTHORNE LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
BERKTHORNE LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr J Rothbart
Mr M Rothbart
Mr M Breuer
Charity number
1172206
Company number
10198149
Registered office
32 Castlewood Road
London
N16 6DW
BERKTHORNE LTD
CONTENTS
Page
Trustees' report
1 - 2
Statement of financial activities
3
Balance sheet
4
Notes to the financial statements
5 - 11
BERKTHORNE LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MAY 2024
- 1 -

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

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, 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).

Objectives and activities

The charity's objects are that of the advancement of education and religious practice in accordance with the teachings of the Orthodox Jewish faith,and the relief of poverty, and there has been no change in these during the year.

In order to achieve these objectives the charity provides grants to educational institutions, charities, individuals in need and other organisations working to prevent or relieve poverty.

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 grant making policy for the year.

The charity is funded by donations. Grants are made to charitable institutions and organisations which accords with the objects of the charity. The trustees consider all requests which they receive and make donations based on the level of funds available.

Achievements and performance

The charity received income of £18,385 during the year and £16,814 was paid out by way of grants and support costs. Grants were made in line with the stated objects of the charity and were for educational and relief of poverty purposes.

Financial review

The trustees were satisfied with the results for the year.

The charity's statement of financial activities shows total reserves of £340,545.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level which will not impinge on its ability to support Charitable institutions.

Structure, governance and management

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

It was registered as a charity on 25 May 2016.

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:

Mr J Rothbart
Mr M Rothbart
Mr M Breuer

The power to appoint new trustees is vested in the current board. It is not the intention of the trustees of the charity to appoint any trustees. Should the situation change in the future, the trustees will apply suitable induction and training procedures. The trustees administer the day to day running of the charity

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

BERKTHORNE LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 2 -

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

..............................
Mr J Rothbart
Trustee
Date: .............................................
2025-02-17
BERKTHORNE LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Investments
3
18,385
16,745
Expenditure on:
Raising funds
4
1,140
589
Charitable activities
5
15,674
14,242
Total expenditure
16,814
14,831
Net income for the year/
Net movement in funds
1,571
1,914
Fund balances at 1 June 2023
338,974
337,060
Fund balances at 31 May 2024
340,545
338,974

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BERKTHORNE LTD
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 4 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
11
351,000
351,000
Current assets
Debtors
12
866
866
Cash at bank and in hand
910
636
1,776
1,502
Creditors: amounts falling due within one year
14
(11,485)
(12,165)
Net current liabilities
(9,709)
(10,663)
Total assets less current liabilities
341,291
340,337
Creditors: amounts falling due after more than one year
15
(746)
(1,363)
Net assets
340,545
338,974
Income funds
Unrestricted funds
340,545
338,974
340,545
338,974

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 May 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 .........................
2025-02-17
..............................
Mr J Rothbart
Trustee
Company registration number 10198149
BERKTHORNE LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
1
Accounting policies
Charity information

Berkthorne Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 32 Castlewood Road, London, N16 6DW.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 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 to include investment properties and certain financial instruments 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, notwithstanding the deficiency in net current assets due to the ongoing support from the community. 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.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
BERKTHORNE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 6 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Investment property fair value is determined by the trustees based on their understanding of the property market and the specific property concerned, derived from recent comparable transactions on the market .

1.7
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.

1.8
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.

BERKTHORNE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 7 -
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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

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.

1.9
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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.

 

Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows.

 

Property valuation

 

The valuation of the charity's investment property is subject to a degree of uncertainty, as the value depends on various factors including the nature of the property, its location and expected future net rental values, market yields and comparable market transactions, and is made on the basis of assumptions which may not prove to be accurate.

 

BERKTHORNE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 8 -
3
Investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Rental income
18,385
16,745
4
Raising funds
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Investment management
1,140
589
1,140
589
5
Charitable activities

Charitable Expenditure

Charitable Expenditure

2024
2023
£
£
Grant funding of activities (see note 6)
14,621
13,285
Share of governance costs (see note 7)
1,053
957
15,674
14,242
BERKTHORNE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 9 -
6
Grants payable

Charitable Expenditure

Charitable Expenditure

2024
2023
£
£
Grants to institutions:
The Bais Rochel Dsatmar Charitable Trust
-
1,000
Congregation Vyoel Moshe Dsatmar Charitable Trust
-
1,000
Alte Feiga Trust
1,250
-
Friends of Mir
-
4,000
Yad Shlomo Trust
990
1,495
Amud Hatzdokoh Trust
5,661
1,180
Beis Aharon Trust Ltd
-
1,150
Castle Education Trust Limited
1,250
-
Educational Academies Support
1,000
-
UTRY
2,000
-
Other
2,470
3,460
14,621
13,285
-
7
Support costs
Support costs
Governance costs
2024
2023
£
£
£
£
Accountancy
-
900
900
900
Legal and professional
-
103
103
-

Bank interest & Fees

-
50
50
57
-
1,053
1,053
957
Analysed between
Charitable activities
-
1,053
1,053
957

 

8
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
BERKTHORNE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 10 -
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 tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11
Investment property
2024
£
Fair value
At 1 June 2023 and 31 May 2024
351,000

The investment property is included in the financial statements at trustees' valuation.

 

The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

 

12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
632
632
Prepayments and accrued income
234
234
866
866
13
Loans and overdrafts
2024
2023
£
£
Bank loans
1,346
1,943
Payable within one year
600
580
Payable after one year
746
1,363

The above long-term loan is guaranteed by the government under the Bounce back loan scheme.

BERKTHORNE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
13
Loans and overdrafts
(Continued)
- 11 -

The loan accrues interest at 2.5% p.a.

14
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
13
600
580
Other creditors
9,985
10,685
Accruals and deferred income
900
900
11,485
12,165

Included in other creditors is £9,870 (2023: £10,570) due to companies in which some of the trustees of the charity are also directors.

15
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
13
746
1,363
16
Related party transactions

There were no disclosable related party transactions during the year (2023 - none), other than those disclosed in the notes above.

2024-05-312023-06-01falseCCH SoftwareiXBRL Review & Tag 2022.2n/a2025-02-17n/a101981492023-06-012024-05-3110198149bus:Director12023-06-012024-05-3110198149bus:Director22023-06-012024-05-3110198149bus:Director32023-06-012024-05-31101981492024-05-31101981492023-05-31101981492022-06-012023-05-3110198149bus:FRS1022023-06-012024-05-3110198149bus:AuditExemptWithAccountantsReport2023-06-012024-05-3110198149bus:FullAccounts2023-06-012024-05-31xbrli:purexbrli:sharesiso4217:GBP