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COMPANY REGISTRATION NUMBER: 07292019
CHARITY REGISTRATION NUMBER: 1137012
Ozar Lenetzrochim Limited
Company Limited by Guarantee
Unaudited Financial Statements
30 June 2024
Ozar Lenetzrochim Limited
Company Limited by Guarantee
Financial Statements
Year ended 30 June 2024
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
3
Statement of financial activities (including income and expenditure account)
4
Statement of financial position
5
Statement of cash flows
6
Notes to the financial statements
7
Ozar Lenetzrochim Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 June 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 30 June 2024 .
Reference and administrative details
Registered charity name
Ozar Lenetzrochim Limited
Charity registration number
1137012
Company registration number
07292019
Principal office and registered
103 High Street
office
Waltham Cross
Herts.
EN8 7AN
The trustees
Mr B. Roth
Mrs R. Roth
Mr Y. Schreiber
Independent examiner
Charles Goldstein FCA
103 High Street
Waltham Cross
Herts
EN8 7AN
Structure, governance and management
The Charity is constituted by trust deed dated 22nd June 2010, and is a registered charity.
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Objectives and activities
The charity's objective is to promote the advancement of education and learning of the Orthodox Jewish Faith, and the relief of poverty, the provision of food and drink, and wedding assistance, and such other purposes as recognised by English Law as charitable.the aims of the charity, including the issues it seeks to address and the changes or differences it seeks to make through its activities The above objectives were continued with during the year.
Achievements and performance
The charity has continued to offer assistance through education, support for the poor, medical provision, wedding assistance and learning of the Jewish faith.
Financial review
The financial results of the Charity's activities for the year reflected in the attached financial statements together with the notes thereon.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 21 March 2025 and signed on behalf of the board of trustees by:
Mr B. Roth
Trustee
Ozar Lenetzrochim Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Ozar Lenetzrochim Limited
Year ended 30 June 2024
I report to the trustees on my examination of the financial statements of Ozar Lenetzrochim Limited ('the charity') for the year ended 30 June 2024.
Responsibilities and basis of report
The trustees 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. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of ICAEW. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- to state whether particular matters have come to my attention.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
In connection with my examination, no matter has come to my attention:
which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006, and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met.
Charles Goldstein FCA Independent Examiner
103 High Street Waltham Cross Herts EN8 7AN
21 March 2025
Ozar Lenetzrochim Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 30 June 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
688,799
688,799
723,216
---------
---------
---------
Total income
688,799
688,799
723,216
---------
---------
---------
Expenditure
Expenditure on raising funds:
Cost of charitable activities
6
682,007
682,007
717,905
Expenditure on charitable activities
7,8
7,095
7,095
5,333
---------
---------
---------
Total expenditure
689,102
689,102
723,238
---------
---------
---------
---------
---------
---------
Net expenditure and net movement in funds
( 303)
( 303)
( 22)
---------
---------
---------
Reconciliation of funds
Total funds brought forward
( 897)
( 897)
( 875)
---------
---------
---------
Total funds carried forward
( 1,200)
( 1,200)
( 897)
---------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Ozar Lenetzrochim Limited
Company Limited by Guarantee
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Current assets
Cash at bank and in hand
183
Creditors: amounts falling due within one year
Trade creditors
540
540
Accruals and deferred income
660
540
-------
-------
1,200
1,080
-------
-------
Net current liabilities
1,200
897
-------
----
Total assets less current liabilities
( 1,200)
( 897)
-------
----
Net liabilities
( 1,200)
( 897)
-------
----
Funds of the charity
Unrestricted funds
( 1,200)
( 897)
-------
----
Total charity funds
14
( 1,200)
( 897)
-------
----
For the year ending 30 June 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 21 March 2025 , and are signed on behalf of the board by:
Mr B. Roth
Trustee
Ozar Lenetzrochim Limited
Company Limited by Guarantee
Statement of Cash Flows
Year ended 30 June 2024
2024
2023
£
£
Cash flows from operating activities
Net expenditure
(303)
(22)
Adjustments for:
Interest payable and similar charges
914
3,303
Accrued expenses
120
Changes in:
Trade and other creditors
( 550)
----
-------
Cash generated from operations
731
2,731
Interest paid
( 914)
( 3,303)
----
-------
Net cash used in operating activities
( 183)
( 572)
----
-------
Net decrease in cash and cash equivalents
( 183)
( 572)
Cash and cash equivalents at beginning of year
183
755
----
----
Cash and cash equivalents at end of year
183
----
----
Ozar Lenetzrochim Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 June 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 103 High Street, Waltham Cross, Herts., EN8 7AN.
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
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
There are no judgements and estimates.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities.
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 incoming resources are 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. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
4. Limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
5. Donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donations
Donations received
688,799
688,799
723,216
723,216
---------
---------
---------
---------
6. Cost of charitable activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Religious advancement
60,128
60,128
112,667
112,667
Maintenance and support of poor people
516,364
516,364
553,779
553,779
Educational assistance
92,509
92,509
38,192
38,192
Medical assistance
13,006
13,006
13,267
13,267
---------
---------
---------
---------
682,007
682,007
717,905
717,905
---------
---------
---------
---------
7. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Support costs
7,095
7,095
5,333
5,333
-------
-------
-------
-------
8. Expenditure on charitable activities by activity type
Support costs
Total funds 2024
Total fund 2023
£
£
£
Support costs
7,095
7,095
5,333
-------
-------
-------
9. Analysis of support costs
Analysis of support costs
Total 2024
Total 2023
£
£
£
General office
6,181
6,181
1,969
Finance costs
914
914
3,364
-------
-------
-------
7,095
7,095
5,333
-------
-------
-------
10. Net expenditure
Net expenditure is stated after charging/(crediting):
2024
2023
£
£
Foreign exchange differences
61
----
----
11. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
660
540
----
----
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
13. Other creditors including taxation and social security falling
due within one year
2024
2023
£
£
14. Analysis of charitable funds
Unrestricted funds
At 1 July 2023
Income
Expenditure
At 30 June 2024
£
£
£
£
General funds
(897)
688,799
(689,102)
(1,200)
----
---------
---------
-------
At 1 July 2022
Income
Expenditure
At 30 June 2023
£
£
£
£
General funds
(875)
723,216
(723,238)
(897)
----
---------
---------
----
15. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Current assets
Creditors less than 1 year
(1,200)
(1,200)
-------
-------
Net liabilities
(1,200)
(1,200)
-------
-------
Unrestricted Funds
Total Funds 2023
£
£
Current assets
183
183
Creditors less than 1 year
(1,080)
(1,080)
-------
-------
Net liabilities
(897)
(897)
-------
-------
16. Analysis of changes in net debt
At 1 Jul 2023
Cash flows
At 30 Jun 2024
£
£
£
Cash at bank and in hand
183
(183)
----
----
----