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REGISTERED COMPANY NUMBER: 08080547 (England and Wales)
REGISTERED CHARITY NUMBER: 1155630



















BOROUGHLEA LIMITED
(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

BOROUGHLEA LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Reference and Administrative Details 1

Report of the Trustees 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Cash Flow Statement 7

Notes to the Cash Flow Statement 8

Notes to the Financial Statements 9 to 13

BOROUGHLEA LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MAY 2024



TRUSTEES D Frankel
E Low
E S Weiss


REGISTERED OFFICE 15 Clapton Common
London
E5 9AA


REGISTERED COMPANY
NUMBER
08080547 (England and Wales)


REGISTERED CHARITY NUMBER 1155630


INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

BOROUGHLEA LIMITED (REGISTERED NUMBER: 08080547)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MAY 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 May 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).

Reference and administrative information
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.

OBJECTIVES AND ACTIVITIES
Objectives and activities for the public benefit
The objects of the charity are the advancement of religion in accordance with the orthodox Jewish faith, the relief of poverty and such other purposes as are recognised by English Law as charitable. The charity is grantmaking.

The trustees confirm that they have referred to 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 policy for the year.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees are pleased with the results for the year. Although there was a 35% increase in income the increase in grantmaking was 75%, leaving a deficit for the year, funded by the reserves which the company held.

FINANCIAL REVIEW
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that the activities of the charity continue. Reserves at the year were deficit £1,888 (2023 - £81,788 surplus).

STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 23 May 2012.

Organisational structure
The power to appoint new trustees is vested in the continuing board. It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future the trustees will apply suitable recruitment, induction and training procedures. The charity is run by the trustees.

Risk review
The trustees have confirmed that there are no major risks to which the charity is exposed.

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

Approved by order of the board of trustees on 10 March 2025 and signed on its behalf by:





E Low - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
BOROUGHLEA LIMITED

Independent examiner's report to the trustees of Boroughlea Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 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.








E Meyer FCA BSc

Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

10 March 2025

BOROUGHLEA LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MAY 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 730,500 540,000

EXPENDITURE ON
Charitable activities 2
Grantmaking 811,863 463,655
Support 2,313 2,280
Total 814,176 465,935

NET INCOME/(EXPENDITURE) (83,676 ) 74,065


RECONCILIATION OF FUNDS
Total funds brought forward 81,788 7,723

TOTAL FUNDS CARRIED FORWARD (1,888 ) 81,788

BOROUGHLEA LIMITED (REGISTERED NUMBER: 08080547)

BALANCE SHEET
31 MAY 2024

2024 2023
Total Total
funds funds
Notes £    £   
CURRENT ASSETS
Cash at bank 988 83,584

CREDITORS
Amounts falling due within one year 7 (2,876 ) (1,796 )

NET CURRENT ASSETS/(LIABILITIES) (1,888 ) 81,788

TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,888

)

81,788

NET ASSETS (1,888 ) 81,788
FUNDS 8
Unrestricted funds:
General fund (1,888 ) 81,788
TOTAL FUNDS (1,888 ) 81,788

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.


BOROUGHLEA LIMITED (REGISTERED NUMBER: 08080547)

BALANCE SHEET - continued
31 MAY 2024

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 10 March 2025 and were signed on its behalf by:





E Low - Trustee

BOROUGHLEA LIMITED

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2024

2024 2023
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 (82,596 ) 74,185
Net cash (used in)/provided by operating activities (82,596 ) 74,185

Change in cash and cash equivalents
in the reporting period

(82,596

)

74,185
Cash and cash equivalents at the
beginning of the reporting period

83,584

9,399
Cash and cash equivalents at the end
of the reporting period

988

83,584

BOROUGHLEA LIMITED

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2024

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

(83,676

)

74,065
Adjustments for:
Increase in creditors 1,080 120
Net cash (used in)/provided by operations (82,596 ) 74,185


2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.6.23 Cash flow At 31.5.24
£    £    £   
Net cash
Cash at bank 83,584 (82,596 ) 988
83,584 (82,596 ) 988
Total 83,584 (82,596 ) 988

BOROUGHLEA LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 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 in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.

Support costs are those incurred to assist the work of the charity but are not direct charitable activities.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

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

Going concern
There are no material uncertainties about the charity's ability to continue.

Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the amount expected to be received or paid and not discounted.


BOROUGHLEA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
(see note costs (see
3) note 4) Totals
£    £    £   
Grantmaking 811,863 - 811,863
Support - 2,313 2,313
811,863 2,313 814,176

3. GRANTS PAYABLE
2024 2023
£    £   
Grantmaking 811,863 463,655
The total grants paid to institutions during the year was as follows:
2024 2023
£    £   
Advancement of education 62,973 75,000
Relief of poverty 346,945 143,365
Advancement of religion 277,580 135,700
Social Welfare 124,365 109,590
811,863 463,655

Ezras Yisroel Trust 137,000
Chasdei Aharon Ltd 82,500
Chasdei Yoel 80,000
Amud Hatzdoko Trust 66,515
Zoreya Tzedokos Ltd 48,600
Yeshuos Shabbos 48,180
UTA 48,000
Shir Chesed Beis Yisroel 25,500
Zlotchiv 18,000
Canvey Kehilla Ltd 18,000
Keren Chochmas Shlomo 18,000
Start Upright 17,000
YTV London 15,450
Care Stream Ltd 15,000
Others below £15,000 174,118
811,863


BOROUGHLEA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. SUPPORT COSTS
Governance
Finance costs Totals
£    £    £   
Support 879 1,434 2,313

Support costs, included in the above, are as follows:

Finance
2024 2023
Total
Support activities
£    £   
Bank charges 879 694
Governance costs
2024 2023
Total
Support activities
£    £   
Independent examiner's fee 300 300
Independent examiner's other fees 780 1,020
General expenses 354 266
1,434 1,586

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 May 2024 nor for the year ended 31 May 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023.


6. AVERAGE STAFF NUMBERS

The average number of staff in the year was Nil (2023 - Nil)


BOROUGHLEA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trustees' accounts 476 476
Accruals and deferred income 2,400 1,320
2,876 1,796

8. MOVEMENT IN FUNDS
Net
movement At
At 1.6.23 in funds 31.5.24
£    £    £   
Unrestricted funds
General fund 81,788 (83,676 ) (1,888 )

TOTAL FUNDS 81,788 (83,676 ) (1,888 )

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 730,500 (814,176 ) (83,676 )

TOTAL FUNDS 730,500 (814,176 ) (83,676 )


Comparatives for movement in funds

Net
movement At
At 1.6.22 in funds 31.5.23
£    £    £   
Unrestricted funds
General fund 7,723 74,065 81,788

TOTAL FUNDS 7,723 74,065 81,788

BOROUGHLEA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 540,000 (465,935 ) 74,065

TOTAL FUNDS 540,000 (465,935 ) 74,065

9. RELATED PARTY DISCLOSURES

The charity received unrestricted donations of £715,500 from companies in which a trustee has an interest and made a donations of £137,000 to Ezras Yisroel Trust and £15,450 to YTV London, charities in which a trustee has an interest.