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REGISTERED COMPANY NUMBER: 02863657 (England and Wales)
REGISTERED CHARITY NUMBER: 1047427




















Report of the Trustees and

Unaudited Financial Statements
FOR THE YEAR ENDED
31 October 2024

for

GROVEPALM LIMITED

GROVEPALM LIMITED

Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5

Cash Flow Statement 6

Notes to the Cash Flow Statement 7

Notes to the Financial Statements 8 to 10

GROVEPALM LIMITED (REGISTERED NUMBER: 02863657)

Report of the Trustees
FOR THE YEAR ENDED 31 OCTOBER 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 October 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 activities
The principal objectives of the charity throughout the year have been:
1) The advancement of the orthodox Jewish religion;
2) The relief of poverty and sickness;
3) The advancement of Orthodox Jewish religious education;
4) Such other purposes as are charitable according to English Law.

ACHIEVEMENT AND PERFORMANCE
The charity is organised so that the trustees meet regularly to manage its affairs. There are no paid employees and all administration work is carried out on a voluntary basis by the governors.

FINANCIAL REVIEW
Financial position
During the year, the charity's funds have been applied in furtherance of its objectives and the day to day running of the charity.

In the year to 31 October 2024, incoming resources amounted to £809,839 (2023 - £313,570) and resources expended amounted to £822,139 (2023 - £291,779).

At 31 October 2024, the charity had a total unrestricted funds of £342,266 (2023 - £354,566).

There have been no changes in the accounting policies of the charity during the year.

Reserves policy
The trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission and have concluded that the general surplus amounting to £25,000 is sufficient to achieve its objectives.

FUTURE PLANS
The trustees intend to continue performing at similar levels to current year to the extent that funding permits, which are considered to be satisfactory.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02863657 (England and Wales)

Registered Charity number
1047427

Registered office
First Floor, Winston House
349 Regents Park Road
London
N3 1DH


GROVEPALM LIMITED (REGISTERED NUMBER: 02863657)

Report of the Trustees
FOR THE YEAR ENDED 31 OCTOBER 2024


Trustees
Mr J Lipschitz
Mrs F Lipschitz
Mr M Twerski (resigned 28.2.25)
Mrs R P Twerski (appointed 28.2.25)

Company Secretary
Mrs F Lipschitz

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

Approved by order of the board of trustees on 29 August 2025 and signed on its behalf by:





Mr J Lipschitz - Trustee

Independent Examiner's Report to the Trustees of
Grovepalm Limited (Registered number: 02863657)


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








Danny Fine

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

29 August 2025

GROVEPALM LIMITED

Statement of Financial Activities
FOR THE YEAR ENDED 31 OCTOBER 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 809,839 313,570

EXPENDITURE ON
Charitable activities 3
Charitable activities 822,139 291,779

NET INCOME/(EXPENDITURE) (12,300 ) 21,791


RECONCILIATION OF FUNDS
Total funds brought forward 354,566 332,775

TOTAL FUNDS CARRIED FORWARD 342,266 354,566

GROVEPALM LIMITED (REGISTERED NUMBER: 02863657)

Balance Sheet
31 OCTOBER 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
CURRENT ASSETS
Debtors 7 382,710 392,385
Cash at bank 1,969 37
384,679 392,422

CREDITORS
Amounts falling due within one year 8 (42,413 ) (37,856 )

NET CURRENT ASSETS 342,266 354,566

TOTAL ASSETS LESS CURRENT LIABILITIES 342,266 354,566

NET ASSETS/(LIABILITIES) 342,266 354,566
FUNDS
Unrestricted funds 342,266 354,566
TOTAL FUNDS 342,266 354,566

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


The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 29 August 2025 and were signed on its behalf by:





Mr J Lipschitz - Trustee

GROVEPALM LIMITED

Cash Flow Statement
FOR THE YEAR ENDED 31 OCTOBER 2024

2024 2023
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 1,932 (42,022 )
Net cash provided by/(used in) operating activities 1,932 (42,022 )

Change in cash and cash equivalents in
the reporting period

1,932

(42,022

)
Cash and cash equivalents at the
beginning of the reporting period

37

42,059
Cash and cash equivalents at the end of
the reporting period

1,969

37

GROVEPALM LIMITED

Notes to the Cash Flow Statement
FOR THE YEAR ENDED 31 OCTOBER 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)

(12,300

)

21,791
Adjustments for:
Decrease/(increase) in debtors 9,675 (80,111 )
Increase in creditors 4,557 16,298
Net cash provided by/(used in) operations 1,932 (42,022 )


2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.11.23 Cash flow At 31.10.24
£    £    £   
Net cash
Cash at bank 37 1,932 1,969
37 1,932 1,969
Total 37 1,932 1,969

GROVEPALM LIMITED

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 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 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.

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.

2. DONATIONS AND LEGACIES
2024 2023
£    £   
Donations 809,839 313,570

3. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
(see note costs (see
4) note 5) Totals
£    £    £   
Charitable activities 821,259 880 822,139


GROVEPALM LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. GRANTS PAYABLE
2024 2023
£    £   
Charitable activities 821,259 290,830

The total grants paid to institutions during the year was £821,259 (2023 - £290,830). A summary of grants made to institutions during the year is as follows:

Names of Institution £   
Beis Aharon Trust 66,800
Beis Hamedrash Bruchim 19,850
Beis Vaad Jerusalem 19,350
Chevras Veshinantom 12,750
Hicholi Hakodesh 30,680
Hogei Torah 19,250
Kimcha Dapischa 11,087
Kimcha Depischa Bene Berak 17,000
Kimcha Depischa Jerusalem 10,000
Kolel Belz Machnifka 14,485
Kollel Boker Belz 16,800
Kollel Boker Maharshal 14,500
Kollel Erev Belz 29,708
Machnovke Rebbe Bene Berak 22,950
Masifta Talmudical 14,420
Mechudodin Organisation Israel 13,700
Machzikei Lomdei Torah 27,650
Or Linsivusi 21,350
Reshet Hakollelim 22,100
Satmer 26,200
Sefer Dvir Kodsho 16,610
Torah Vyirah 51,900
Talmud Torah Kedushas Aharon 15,000
Talmud Torah Bene Aharon 16,050
Venishmartem 22,850
Yad Vochessed Association 13,600
Yeshiva Ketane Elad 14,500
Yeshiva Ketane Jerusalem 18,000
Other 222,119

Total 821,259

All grants are provided to charitable institutions, are used for the benefit of the public and are in line with the objects of the charity as outlined in the trustees' report.


GROVEPALM LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


5. SUPPORT COSTS
Governance
Finance costs Totals
£    £    £   
Charitable activities 4 876 880

6. TRUSTEES' REMUNERATION AND BENEFITS

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


Trustees' expenses

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 382,710 392,385

Included in other debtors is amounts owed by companies with common directors.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 876 169
Other creditors 40,757 36,907
Accruals and deferred income 780 780
42,413 37,856

Included in other creditors is amounts owed to companies with common directors.

9. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2024.