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REGISTERED COMPANY NUMBER: 01807031 (England and Wales)
REGISTERED CHARITY NUMBER: 299870















REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

SEEKPORT LIMITED

SEEKPORT LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Statement of Financial Position 5 to 6

Notes to the Financial Statements 7 to 12

SEEKPORT LIMITED (REGISTERED NUMBER: 01807031)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 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 April 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 objects of the charity are the furtherance of the Orthodox Jewish religion by way of support to educational institutions, assisting in the reduction of poverty and granting help for charitable causes at the discretion of the trustees.The policy of Seekport Limited continues to be to derive its income from its investment property and donations from various institutions and to make donations.

Significant activities
The financial results of the Company's activities for the period ended 30 April 2024 are fully reflected in the attached financial statements together with the notes thereon.

The trustees are satisfied with the results and activities of the company for the year and do not anticipate any significant changes in the forthcoming year.

Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit, and in particular to its supplementary public benefit guidance on advancing education, when reviewing the charity's aims and objectives, and in planning future activities and setting grant making policy for the year.

Grantmaking
The trustees obtain details of all requests for assistance and ensure that good recommendations are received before any payments are made.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity received donations totalling £60,500 (2023: £9,000) and paid £126,400 (2023: £61,940) in grants to various charitable institutions.

Investment performance
During the period the charity received rent that amounted to £90,258 (2023: £71,953).

FINANCIAL REVIEW
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of income to meet the ongoing calls made on the charity including the possibility of providing capital assets for the needs of charitable institutions.

FUTURE PLANS
The Trustees plan to continue to make distributions in accordance with their grant making policy and to ensure that an appropriate level of reserves is maintained.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
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.

Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.

Risk management
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.

SEEKPORT LIMITED (REGISTERED NUMBER: 01807031)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01807031 (England and Wales)

Registered Charity number
299870

Registered office
71 Fairholt Road
London
N16 5EW

Trustees
J Grunhut
Mrs E Krausz
J Perlmutter (appointed 28.11.23)

Independent Examiner
Malcolm Venitt
Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

Approved by order of the board of trustees on 25 April 2025 and signed on its behalf by:





J Grunhut - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
SEEKPORT LIMITED

Independent examiner's report to the trustees of Seekport Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 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
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.








Malcolm Venitt

Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

25 April 2025

SEEKPORT LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 APRIL 2024

30.4.24 30.4.23
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 60,500 9,001

Investment income 2 90,258 71,953
Total 150,758 80,954

EXPENDITURE ON
Raising funds 3 26,236 19,951

Charitable activities
charitable 132,882 62,901

Other 1,500 6,840
Total 160,618 89,692

Net gains on investments - 790,000

NET INCOME/(EXPENDITURE) (9,860 ) 781,262


RECONCILIATION OF FUNDS
Total funds brought forward 994,308 213,046

TOTAL FUNDS CARRIED FORWARD 984,448 994,308

SEEKPORT LIMITED (REGISTERED NUMBER: 01807031)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

30.4.24 30.4.23
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Investment property 6 2,498,402 2,465,738

CURRENT ASSETS
Debtors 7 39,637 34,989
Cash at bank 24,476 99,625
64,113 134,614

CREDITORS
Amounts falling due within one year 8 (1,567,650 ) (1,590,627 )

NET CURRENT ASSETS (1,503,537 ) (1,456,013 )

TOTAL ASSETS LESS CURRENT
LIABILITIES

994,865

1,009,725

CREDITORS
Amounts falling due after more than one year 9 (10,417 ) (15,417 )

NET ASSETS 984,448 994,308
FUNDS 12
Unrestricted funds 984,448 994,308
TOTAL FUNDS 984,448 994,308

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


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


SEEKPORT LIMITED (REGISTERED NUMBER: 01807031)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 25 April 2025 and were signed on its behalf by:





J Grunhut - Trustee





E Krausz - Trustee





J Perlmutter - Trustee

SEEKPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 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.

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

Investment property
Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognised initially at cost.

Subsequent to initial recognition:
a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from change in fair value are recognised in profit or loss in the period that they arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

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


SEEKPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. INVESTMENT INCOME
30.4.24 30.4.23
£    £   
Rents received 90,258 71,953

3. RAISING FUNDS

Investment management costs
30.4.24 30.4.23
£    £   
Insurance 8,836 8,045
Repairs and renewals 1,923 2,777
Ground rent and service charge 3,604 976
14,363 11,798

4. TRUSTEES' REMUNERATION AND BENEFITS

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


Trustees' expenses

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


5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 9,001

Investment income 71,953
Total 80,954

EXPENDITURE ON
Raising funds 19,951

Charitable activities
charitable 62,901

Other 6,840
Total 89,692

Net gains on investments 790,000

NET INCOME 781,262


SEEKPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£   

RECONCILIATION OF FUNDS
Total funds brought forward 213,046

TOTAL FUNDS CARRIED FORWARD 994,308

6. INVESTMENT PROPERTY
£   
FAIR VALUE
At 1 May 2023 2,465,738
Additions 32,664
At 30 April 2024 2,498,402
NET BOOK VALUE
At 30 April 2024 2,498,402
At 30 April 2023 2,465,738

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2017 37,053
Valuation in 2023 790,000
Cost 1,671,349
2,498,402

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 4,867 219
Other debtors 34,770 34,770
39,637 34,989


SEEKPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
VAT 1,156 1,755
Other creditors 1,465,577 1,487,855
Loan creditors 96,117 96,117
Accrued expenses 4,800 4,900
1,567,650 1,590,627

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Other loans (see note 10) 10,417 15,417

10. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments:
Other loans more 5yrs instal 10,417 15,417

11. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Other loans 10,417 15,417

Under the bank loan, £10,417 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

12. MOVEMENT IN FUNDS
Net
movement At
At 1.5.23 in funds 30.4.24
£    £    £   
Unrestricted funds
General fund 994,308 (9,860 ) 984,448

TOTAL FUNDS 994,308 (9,860 ) 984,448

SEEKPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

12. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 150,758 (160,618 ) (9,860 )

TOTAL FUNDS 150,758 (160,618 ) (9,860 )


Comparatives for movement in funds

Net
movement At
At 1.5.22 in funds 30.4.23
£    £    £   
Unrestricted funds
General fund 213,046 781,262 994,308

TOTAL FUNDS 213,046 781,262 994,308

Comparative 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 80,954 (89,692 ) 790,000 781,262

TOTAL FUNDS 80,954 (89,692 ) 790,000 781,262

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.5.22 in funds 30.4.24
£    £    £   
Unrestricted funds
General fund 213,046 771,402 984,448

TOTAL FUNDS 213,046 771,402 984,448

SEEKPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined 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 231,712 (250,310 ) 790,000 771,402

TOTAL FUNDS 231,712 (250,310 ) 790,000 771,402

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 April 2024.