IRIS Accounts Production v24.3.2.46 Other Company accounts True false Pounds 1.7.23 30.6.24 30.6.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh080983332023-06-30080983332024-06-30080983332023-07-012024-06-30080983332022-06-30080983332022-07-012023-06-30080983332023-06-3008098333ns0:CharitableCompanyLimitedByGuarantee2023-07-012024-06-3008098333ns15:PoundSterling2023-07-012024-06-3008098333ns11:FRS1022023-07-012024-06-3008098333ns11:IndependentExaminationCharity2023-07-012024-06-3008098333ns11:SmallCompaniesRegimeForAccounts2023-07-012024-06-3008098333ns11:FullAccounts2023-07-012024-06-3008098333ns11:CharitiesSORP2023-07-012024-06-3008098333ns16:EnglandWales2023-07-012024-06-3008098333ns11:RegisteredOffice2023-07-012024-06-3008098333ns0:Trustee12023-07-012024-06-3008098333ns0:Trustee22023-07-012024-06-3008098333ns0:Trustee32023-07-012024-06-3008098333ns0:TotalUnrestrictedFunds2023-07-012024-06-3008098333ns0:TotalRestrictedIncomeFunds2023-07-012024-06-3008098333ns0:Activity82023-07-012024-06-3008098333ns0:TotalUnrestrictedFundsns0:Activity82023-07-012024-06-3008098333ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-07-012024-06-3008098333ns0:Activity82022-07-012023-06-3008098333ns0:Activity92023-07-012024-06-3008098333ns0:TotalUnrestrictedFundsns0:Activity92023-07-012024-06-3008098333ns0:Activity9ns0:TotalRestrictedIncomeFunds2023-07-012024-06-3008098333ns0:Activity92022-07-012023-06-3008098333ns0:TotalUnrestrictedFunds2023-06-3008098333ns0:TotalRestrictedIncomeFunds2023-06-3008098333ns0:TotalUnrestrictedFunds2024-06-3008098333ns0:TotalRestrictedIncomeFunds2024-06-3008098333ns10:WithinOneYear2024-06-3008098333ns10:WithinOneYear2023-06-3008098333ns10:MotorVehicles2023-07-012024-06-300809833322023-07-012024-06-3008098333ns10:OwnedAssets2023-07-012024-06-3008098333ns10:OwnedAssets2022-07-012023-06-3008098333ns10:MotorVehicles2023-06-3008098333ns10:MotorVehicles2024-06-3008098333ns10:MotorVehicles2023-06-30
REGISTERED COMPANY NUMBER: 08098333 (England and Wales)
REGISTERED CHARITY NUMBER: 1148316




















Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 30 June 2024

for

IGO FOUNDATION LTD

IGO FOUNDATION LTD

Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024










Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6

Notes to the Financial Statements 7 to 11

IGO FOUNDATION LTD (REGISTERED NUMBER: 08098333)

Report of the Trustees
FOR THE YEAR ENDED 30 JUNE 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 30 June 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are:
- The relief of poverty in any part of the world;
- The advancement of the Jewish religion in any part of the world;
- The advancement of the education of the public in any part of the world in the knowledge of the Jewish history and culture;
- Such other charitable purposes in any part of the world as the trustees shall from time to time decide.

Public benefit
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 the grantmaking policy.

Grantmaking
Grants are made to charitable institutions and organisations after it has been satisfied that payments will accord with the objectives of the charity.

Volunteers
There were no volunteers during the year.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The results for the year and the financial position at the year end were considered satisfactory by the trustees.

During the year the charity continued its philanthropic activities in support of religious, educational and other charitable institutions and the donations made were £255,170 (2023: £250,060). The charity also donated food parcels directly to needy families with a total cost of £6,517 (2023: £6,524).

Fundraising activities
Donations together with income arising on investments were considered reasonable and the trustees feel that the present level of income is sufficient to permit the charity to continue for the foreseeable future.

A summary of the charity's transactions and of its financial position is shown in the financial statements together with the accompanying notes.

Investment performance
Under the memorandum and articles of association the charity has the power to invest in any way the trustees wish.

The trustees are satisfied with the return on investments achieved during the year and feel confident that the charity has adequate reserves to fulfil its charitable obligations.

Internal and external factors
There are no specific factors to report.

FINANCIAL REVIEW
Principal funding sources
The principal funding sources are donations from corporate sponsors and investment income.


IGO FOUNDATION LTD (REGISTERED NUMBER: 08098333)

Report of the Trustees
FOR THE YEAR ENDED 30 JUNE 2024


FINANCIAL REVIEW
Reserves policy
The charity aims to maintain reserves in order that it is in a position to continue its grant making activities at a consistent level and to cover contingencies of additional calls being made upon the charity for support of organisations or institutions in times of need.

The present level of funding is adequate to support the continuation of the provision of assistance by the giving of grants or equipment in the short term, and the trustees consider the financial position of the charity to be satisfactory.

FUTURE PLANS
The Trustees plan to continue to support charities and charitable purposes in accordance with their grant making policy and to ensure that the ability to generate sufficient income is maintained to achieve that end.

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

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association.

Recruitment and appointment of new trustees
Membership of the Charity is open to any individual or organisation interested in promoting the objects who:
1. applies to the charity in the form required by the Trustees;
2. consents to act as a Trustee;
3. is approved unanimously by the Trustees;
4. signs the Register of members or consents in writing to become a member either personally or (in the case of a member organisation) through an authorised representative.

Organisational structure
The company has 3 trustees; names of members are listed below. The charity is organised so that the trustees meet regularly to manage the affairs of the charity.

Induction and training of new trustees
New Trustees must familiarise themselves with the content of the Memorandum and Articles of Association, their legal obligations under charity and company law, the organisational structure of IGO Foundation Ltd and the recent financial performance of the charity.

Training of trustees will depend on their previous knowledge and experience.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08098333 (England and Wales)

Registered Charity number
1148316

Registered office
29 Grosvenor Gardens
London
NW11 0HE

Trustees
Mr B Ost
Mrs G Ost
Mr A Lipschitz


IGO FOUNDATION LTD (REGISTERED NUMBER: 08098333)

Report of the Trustees
FOR THE YEAR ENDED 30 JUNE 2024


REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Daniel Fine, FCA
Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

Bankers
Lloyds TSB
1 Butler Place
London
SW1H 0PR

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





Mr B Ost - Trustee

Independent Examiner's Report to the Trustees of
Igo Foundation Ltd (Registered number: 08098333)


Independent examiner's report to the trustees of Igo Foundation Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 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.








Daniel Fine, FCA

Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

10 April 2025

IGO FOUNDATION LTD

Statement of Financial Activities
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 290,981 - 290,981 118,395

Investment income 2 114,600 - 114,600 156,017
Total 405,581 - 405,581 274,412

EXPENDITURE ON
Raising funds 3 5,882 - 5,882 16,655

Charitable activities
Charitable donations 261,687 - 261,687 250,060
Charitbale activities 5,072 - 5,072 16,652
Total 272,641 - 272,641 283,367

NET INCOME/(EXPENDITURE) 132,940 - 132,940 (8,955 )
Other recognised gains/(losses)
Gains on revaluation of fixed assets 116,994 - 116,994 -
Net movement in funds 249,934 - 249,934 (8,955 )

RECONCILIATION OF FUNDS
Total funds brought forward 9,959 1,250,000 1,259,959 1,268,914

TOTAL FUNDS CARRIED FORWARD 259,893 1,250,000 1,509,893 1,259,959

IGO FOUNDATION LTD (REGISTERED NUMBER: 08098333)

Balance Sheet
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 7 515 644
Investment property 8 1,750,000 1,250,000
1,750,515 1,250,644

CURRENT ASSETS
Debtors 9 850 850
Cash at bank 6,618 17,696
7,468 18,546

CREDITORS
Amounts falling due within one year 10 (248,090 ) (9,231 )

NET CURRENT ASSETS (240,622 ) 9,315

TOTAL ASSETS LESS CURRENT LIABILITIES 1,509,893 1,259,959

NET ASSETS 1,509,893 1,259,959
FUNDS 12
Unrestricted funds 259,893 9,959
Restricted funds 1,250,000 1,250,000
TOTAL FUNDS 1,509,893 1,259,959

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 April 2025 and were signed on its behalf by:





Mr B Ost - Trustee

IGO FOUNDATION LTD

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 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, as modified by the revaluation of certain assets.

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 as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Motor vehicles - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to the statement of financial activities..

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

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.


IGO FOUNDATION LTD

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. INVESTMENT INCOME
2024 2023
£    £   
Rents received 113,079 93,015
Other income - 63,000
Deposit account interest 1,521 2
114,600 156,017

3. RAISING FUNDS

Investment management costs
2024 2023
£    £   
Property repairs 930 16,655
Rates and water 4,952 -
5,882 16,655

4. GRANTS PAYABLE
2024 2023
£    £   
Charitable donations 255,170 250,060

A summary of grants made to institutions during the year is as follows:

Name of institution Amount (£ )

The TMC Trust Limited 20,000
Yeshuos Shabbos 20,000
Teens United 20,000
Rookwood Foundation 20,000
Yesmach Levav 16,000
Yishaya Adler Memorial Trust 13,000
Reb Shayale's Tzeduke 10,000
Friends of B'Ezri 10,000
Rise and Shine 10,000
Chasdei Chaim Moishe 10,000
Lehachzikom UK 10,000
The New Rachmistrivke Synagogue Trust 6,500
String of Pearls 6,110
North London Welfare and Educational Foundation 5,500
Mifal Tzedoko V'Chesed Limited 5,000
Other 73,060


IGO FOUNDATION LTD

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 129 161

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.


7. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 July 2023 and 30 June 2024 7,500
DEPRECIATION
At 1 July 2023 6,856
Charge for year 129
At 30 June 2024 6,985
NET BOOK VALUE
At 30 June 2024 515
At 30 June 2023 644

8. INVESTMENT PROPERTY
£   
FAIR VALUE
At 1 July 2023 1,250,000
Additions 383,006
Revaluation 116,994
At 30 June 2024 1,750,000
NET BOOK VALUE
At 30 June 2024 1,750,000
At 30 June 2023 1,250,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 965,670
Cost 784,330
1,750,000

IGO FOUNDATION LTD

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 850 850

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 246,950 6,950
Accrued expenses 1,140 2,281
248,090 9,231

11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
£    £    £    £   
Fixed assets 515 - 515 644
Investments 500,000 1,250,000 1,750,000 1,250,000
Current assets 7,468 - 7,468 18,546
Current liabilities (248,090 ) - (248,090 ) (9,231 )
259,893 1,250,000 1,509,893 1,259,959

12. MOVEMENT IN FUNDS
Net
movement At
At 1.7.23 in funds 30.6.24
£    £    £   
Unrestricted funds
General fund 9,959 249,934 259,893

Restricted funds
Restricted Fund 1,250,000 - 1,250,000

TOTAL FUNDS 1,259,959 249,934 1,509,893

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

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 405,581 (272,641 ) 116,994 249,934

TOTAL FUNDS 405,581 (272,641 ) 116,994 249,934


IGO FOUNDATION LTD

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.7.22 in funds 30.6.23
£    £    £   
Unrestricted funds
General fund 18,914 (8,955 ) 9,959

Restricted funds
Restricted Fund 1,250,000 - 1,250,000

TOTAL FUNDS 1,268,914 (8,955 ) 1,259,959

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 274,412 (283,367 ) (8,955 )

TOTAL FUNDS 274,412 (283,367 ) (8,955 )

13. RELATED PARTY DISCLOSURES

During the year £55,000 (2023: £105,000) was donated by companies under common control.

14. RESTRICTED FUND

Restricted funds were received for the purpose of purchasing the investment property.