Grovepalm Limited - Charities report - 19.1

Grovepalm Limited - Charities report - 19.1

GROVEPALM LIMITED - Company Information

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IRIS Accounts Production v19.1.1.57 Other Company accounts True False Pounds 1.11.17 31.10.18 31.10.18 FY J Lipschitz J Lipschitz FRS 102 Independent examiner Large and medium-sized companies regime for accounts Full Charities SORP True True True True False True False True iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure028636572017-10-31028636572018-10-31028636572017-11-012018-10-31028636572016-10-31028636572016-11-012017-10-31028636572017-10-3102863657ns0:CharitableCompanyLimitedByGuarantee2017-11-012018-10-3102863657ns15:PoundSterling2017-11-012018-10-3102863657ns0:Trustee12017-11-012018-10-3102863657ns11:FRS1022017-11-012018-10-3102863657ns11:IndependentExaminationCharity2017-11-012018-10-3102863657ns11:LargeMedium-sizedCompaniesRegimeForAccounts2017-11-012018-10-3102863657ns11:FullAccounts2017-11-012018-10-3102863657ns11:CharitiesSORP2017-11-012018-10-3102863657ns16:EnglandWales2017-11-012018-10-3102863657ns11:RegisteredOffice2017-11-012018-10-3102863657ns0:Trustee22017-11-012018-10-3102863657ns0:Trustee32017-11-012018-10-3102863657ns11:CompanySecretary12017-11-012018-10-3102863657ns0:Activity82017-11-012018-10-3102863657ns0:Activity82016-11-012017-10-3102863657ns10:WithinOneYear2018-10-3102863657ns10:WithinOneYear2017-10-310286365722017-11-012018-10-31
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 2018
FOR
GROVEPALM LIMITED
Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH









GROVEPALM LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018










Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5

Notes to the Financial Statements 6 to 7

GROVEPALM LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 OCTOBER 2018
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 2018. 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 2015).

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 2018, incoming resources amounted to £28,000 (2017 - £19,120) and resources expended
amounted to £25,307 (2017 - £19,555).

At 31 October 2018, the charity had a total unrestricted fund surplus of £342,451 (2017 - £339,758).

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

Trustees
J Lipschitz Company Director
Ms F Lipschitz Company Secretary
M Twerski Company Director

Page 1
GROVEPALM LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 OCTOBER 2018
REFERENCE AND ADMINISTRATIVE DETAILS
Company Secretary
Ms 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 31 July 2019 and signed on its behalf by:



J Lipschitz - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
GROVEPALM LIMITED
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 2018.

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







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


31 July 2019
Page 3
GROVEPALM LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 OCTOBER 2018
2018 2017

Unrestricted
fund		 Total
funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 28,000 19,120
Investment income 2 - 2,427
Total 28,000 21,547

EXPENDITURE ON
Charitable activities
Charitable activities 25,070 19,555
NET INCOME 2,930 1,992
RECONCILIATION OF FUNDS

Total funds brought forward 339,758 337,766
TOTAL FUNDS CARRIED FORWARD 342,688 339,758
The notes form part of these financial statements
Page 4
GROVEPALM LIMITED
BALANCE SHEET
AT 31 OCTOBER 2018
2018 2017

Unrestricted
fund		 Total
funds
Notes £    £   

CURRENT ASSETS
Debtors 5 342,476 342,476
Cash at bank 995 35
343,471 342,511

CREDITORS
Amounts falling due within one year 6 (783 ) (2,753 )

NET CURRENT ASSETS 342,688 339,758
TOTAL ASSETS LESS CURRENT LIABILITIES 342,688 339,758
NET ASSETS 342,688 339,758
FUNDS
Unrestricted funds 342,688 339,758
TOTAL FUNDS 342,688 339,758
The charitable company is entitled to exemption from audit under
Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended
31 October 2018 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 special provisions of Part 15 of the Companies Act
2006 relating to charitable small companies.

The financial statements were approved by the Board of Trustees on 31 July 2019 and were signed on its behalf by:




J Lipschitz -Trustee
The notes form part of these financial statements
Page 5
GROVEPALM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018
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 2015)', 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. INVESTMENT INCOME

2018 2017
£    £   
Income from UK listed investme nts - 2,427

3. GRANTS PAYABLE

2018 2017
£    £   
Charitable activities

24,260

18,800

Page 6
GROVEPALM LIMITED
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 31 OCTOBER 2018
3. GRANTS PAYABLE - continued

The total grants paid to institutions during the year was £24,260 (2017: £18,800). A summary of grants made to
institutions during the year is as follows:


Name of institution Amount (£ )

Keren Prus 19,200
Other 5,060

Total grants to institutions £24,260

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2018 nor for the year
ended 31 October 2017.

Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2018 nor for the year ended
31 October 2017.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018 2017
£    £   
Other debtors 342,476 342,476

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018 2017
£    £   
Accruals and deferred income 783 2,753

7. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2018.

Page 7