Grovepalm Limited - Charities report - 20.1.6

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 2019

FOR

GROVEPALM LIMITED

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

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 2019. 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 2019, incoming resources amounted to £45,012 (2018 - £28,000) and resources expended

amounted to £45,919 (2018 - £25,307).

At 31 October 2019, the charity had a total unrestricted fund surplus of £341,781 (2018 - £342,451).

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

Mrs F Lipschitz

M Twerski

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 July 2020 and signed on its behalf by:

J Lipschitz - Trustee

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 2019.

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

29 July 2020

2019

2018

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

45,012

28,000

EXPENDITURE ON

Charitable activities

Charitable activities

45,919

25,070

NET INCOME/(EXPENDITURE)

(907

)

2,930

RECONCILIATION OF FUNDS

Total funds brought forward

342,688

339,758

TOTAL FUNDS CARRIED FORWARD

341,781

342,688

2019

2018

Unrestricted

Total

fund

funds

Notes

£

£

CURRENT ASSETS

Debtors

4

342,476

342,476

Cash at bank

1,037

995

343,513

343,471

CREDITORS

Amounts falling due within one year

5

(1,732

)

(783

)

NET CURRENT ASSETS

341,781

342,688

TOTAL ASSETS LESS CURRENT LIABILITIES

341,781

342,688

NET ASSETS

341,781

342,688

FUNDS

6

Unrestricted funds

341,781

342,688

TOTAL FUNDS

341,781

342,688

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 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 July 2020 and were signed on its behalf by:

J Lipschitz - Trustee

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.	GRANTS PAYABLE

2019

2018

£

£

Charitable activities

43,380

24,260

The total grants paid to institutions during the year was £43,380 (2018: £24,260). A summary of grants made

to institutions during the year is as follows:

Name of institution

Amount (£

)

Yad Vochesed

24,000

Talmud Torah

7,500

Keren Prus

7,000

Other

4,880

Total grants to institutions

£43,380

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2019 nor for the year

ended 31 October 2018.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2019 nor for the year ended

31 October 2018.

4.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

342,476

342,476

5.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

169

-

Accruals and deferred income

1,563

783

1,732

783

6.	MOVEMENT IN FUNDS

7.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2019.