LOSON LIMITED Charity Accounts
LOSON LIMITED Charity Accounts
COMPANY REGISTRATION NUMBER:
06246378
CHARITY REGISTRATION NUMBER:
1119656
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Company Limited by Guarantee |
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Company Limited by Guarantee |
Financial Statements |
Year ended 31 May 2018
Page |
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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 |
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Company Limited by Guarantee |
Trustees' Annual Report (Incorporating the Director's Report) |
Year ended 31 May 2018
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
31 May 2018
.
Reference and administrative details
Registered charity name |
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Charity registration number |
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Company registration number |
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Principal office and registered |
Hallswelle House |
office |
1 Hallswelle Road |
London |
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NW11 0DH |
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The trustees
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Company secretary |
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Independent examiner |
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Hallswelle House |
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1 Hallswelle Road |
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London |
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NW11 0DH |
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Structure, governance and management
The charity is constituted as a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association. The trustees administer the day-to-day affairs of the charity. None of the trustees have any beneficial interest in the charity. Should the situation change in the future, the trustees will apply suitable recruitment training and induction procedures.
Risk management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
Objectives and activities
The charity's objects are the advancement of religion according to the tenets of the Jewish faith, the advancement of education, the relief of poverty, sickness and infirmity and the advancement of such other objects as are charitable according to English law. Each year the trustees review their objectives and activities to ensure that they continue to reflect the trustees' aims. In carrying out their review, the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary guidance, with focused regard towards the advancement of the Orthodox Jewish Faith and all its facets for the public benefit.
Grant making policy
Grants are made to charitable institutions, organisations and authorised individuals which accord with the objects of the charity.
Achievements and performance
During the year the charity continued its philanthropic activities in support of religious, education and other charitable institutions and aggregate donations were paid in the sum of £56,250.
Financial review
Reserves policy
At the year end date ,the unrestricted funds are as shown on the face of the attached Balance Sheet.It is the policy of the charity to maintain sufficient unrestricted funds, which are the free reserves of the charity, at a level which the trustees beleive to be appropriate after taking into considertion both the future commitments of the charity and future plans.
The trustees note that the accumulated reserves were fully distributed to charities this year.However they are confident they will continue to receive additional donations from the traditional donors to reestablish the reserves to the level required in accordance with the charity's policy.
Investment powers, policy and objectives
Under the Memorandum and Articles of Association, the charity has the power to make any investment, which the trustees see fit. The trustees regularly review the charity's position and needs in respect of the investment policy.
Plans for future periods
The trustees plan to continue to make distributions in accordance with their grant making policy.
Small company provisions
The trustees' annual report was approved on
27 February 2019
and signed on behalf of the board of trustees by:
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Trustee |
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Company Limited by Guarantee |
Independent Examiner's Report to the Trustees of
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Year ended 31 May 2018
I report to the trustees on my examination of the financial statements of
LOSON LIMITED
('the charity') for the year ended 31 May 2018.
Responsibilities and basis of report
The trustees are also the directors of the company for the purposes of company law 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. I am qualified to undertake the examination by being a qualified member of 'Accounting body'.
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 charity as required by section 386 of the 2006 Act; or
2.
the financial statements do not accord with those records; or
3.
the financial statements 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 financial statements 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.
Independent Examiner
Hallswelle House
1 Hallswelle Road
London
NW11 0DH
27 February 2019
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Company Limited by Guarantee |
Statement of Financial Activities |
(including income and expenditure account) |
Year ended 31 May 2018
2018 |
2017 |
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Unrestricted funds |
Total funds |
Total funds |
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Note |
£ |
£ |
£ |
Income and endowments
Donations and legacies |
5 |
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-------- |
-------- |
---- |
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Total income |
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-------- |
-------- |
---- |
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Expenditure
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-------- |
-------- |
-------- |
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Total expenditure |
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-------- |
-------- |
-------- |
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-------- |
-------- |
-------- |
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Net income/(expenditure) and net movement in funds |
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(
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-------- |
-------- |
-------- |
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Reconciliation of funds
Total funds brought forward |
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-------- |
-------- |
-------- |
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Total funds carried forward |
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-------- |
-------- |
-------- |
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The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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Company Limited by Guarantee |
Statement of Financial Position |
2018 |
2017 |
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Note |
£ |
£ |
£ |
Current assets
Debtors |
7 |
– |
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Cash at bank and in hand |
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------- |
---- |
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Creditors: amounts falling due within one year |
8 |
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------- |
---- |
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Net current assets |
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---- |
---- |
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Total assets less current liabilities |
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---- |
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Net assets |
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Funds of the charity
Unrestricted funds |
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---- |
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Total charity funds |
9 |
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Directors' responsibilities:
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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
;
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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 were approved by the
board of trustees
and authorised for issue on
27 February 2019
, and are signed on behalf of the board by:
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Trustee |
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Company Limited by Guarantee |
Statement of Cash Flows |
Year ended 31 May 2018
2018 |
2017 |
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£ |
£ |
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Cash flows from operating activities
Net income/(expenditure) |
435 |
(72,525) |
Adjustments for: |
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Accrued (income)/expenses |
(
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---- |
-------- |
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Cash generated from operations |
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(
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---- |
-------- |
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Net cash from/(used in) operating activities |
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(
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---- |
-------- |
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Net increase/(decrease) in cash and cash equivalents |
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(
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Cash and cash equivalents at beginning of year |
842 |
73,017 |
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Cash and cash equivalents at end of year |
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------- |
-------- |
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Company Limited by Guarantee |
Notes to the Financial Statements |
Year ended 31 May 2018
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 Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Going concern
Fund accounting
Incoming resources
Resources expended
4.
Limited by guarantee
Loson Ltd is a charitable company, limited by guarantee.
5.
Donations and legacies
Unrestricted Funds |
Total Funds 2018 |
Unrestricted Funds |
Total Funds 2017 |
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£ |
£ |
£ |
£ |
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Donations
General donations |
57,400 |
57,400 |
100 |
100 |
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6.
Independent examination fees
2018 |
2017 |
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£ |
£ |
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Fees payable to the independent examiner for:
Independent examination of the financial statements |
480 |
480 |
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7.
Debtors
2018 |
2017 |
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£ |
£ |
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Prepayments and accrued income |
– |
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---- |
---- |
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8.
Creditors:
amounts falling due within one year
2018 |
2017 |
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£ |
£ |
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Accruals and deferred income |
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---- |
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9.
Analysis of charitable funds
Unrestricted funds
At 1 June 2017 |
Income |
Expenditure |
At 31 May 2018 |
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£ |
£ |
£ |
£ |
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General funds |
72 |
57,400 |
(56,965) |
507 |
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At 1 June 2016 |
Income |
Expenditure |
At 31 May 2017 |
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£ |
£ |
£ |
£ |
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General funds |
72,597 |
100 |
(72,625) |
72 |
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10.
Analysis of net assets between funds
Unrestricted Funds |
Total Funds 2018 |
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£ |
£ |
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Current assets |
1,222 |
1,222 |
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Creditors less than 1 year |
(715) |
(715) |
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------- |
------- |
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Net assets |
507 |
507 |
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------- |
------- |
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Unrestricted Funds |
Total Funds 2017 |
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£ |
£ |
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Current assets |
942 |
1,884 |
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Creditors less than 1 year |
(870) |
(1,740) |
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---- |
------- |
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Net assets |
72 |
144 |
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