Hazlemount Limited - Charities report - 20.2

REGISTERED COMPANY NUMBER: 02871917 (England and Wales)

REGISTERED CHARITY NUMBER: 1101119

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

HAZLEMOUNT 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

8

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 November 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

The objectives of the charity are to advance religion in accordance with the orthodox Jewish faith.

The charity uses available resources in order to further its charitable activities.

Each year the trustees review their charitable 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 public guidance, with focused regard towards the advancement of the

Orthodox Jewish faith and all of its facets for the public benefit.

ACHIEVEMENT AND PERFORMANCE

The charity achieved a level of growth during the year which has been accumulated in line with expectations and to

strengthen the charity's future ability to support charitable causes.

FINANCIAL REVIEW

During the year, the charity received a broadly similar level of income to that of the previous year, and applies the surplus

towards enhancing the reserves of the charity for future use.

FUTURE PLANS

The trustees plan for the charity to continue its charitable activities in the similar means to previous years.

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.

Organisational structure

The charity is managed exclusively by 3 trustees.

Training

The charity's trustees periodically evaluate possible training requirements to best suit the charity's objectives.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

02871917 (England and Wales)

Registered Charity number

1101119

Registered office

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

Trustees

Mr J Lipschitz

Mrs F Lipschitz

Mr 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 6 November 2020 and signed on its behalf by:

Mr J Lipschitz - Trustee

Independent examiner's report to the trustees of Hazlemount Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended

30 November 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, FCA

Melinek Fine LLP

Chartered Accountants

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

6 November 2020

2019

2018

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

1,100

2,450

Investment income

2

19,180

19,200

Total

20,280

21,650

EXPENDITURE ON

Raising funds

3

4,060

6,881

Charitable activities

Charitable activities

2,013

900

Total

6,073

7,781

NET INCOME

14,207

13,869

RECONCILIATION OF FUNDS

Total funds brought forward

481,767

467,898

TOTAL FUNDS CARRIED FORWARD

495,974

481,767

2019

2018

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Investment property

6

651,195

651,195

CURRENT ASSETS

Cash at bank

463

476

CREDITORS

Amounts falling due within one year

7

(21,985

)

(21,085

)

NET CURRENT ASSETS

(21,522

)

(20,609

)

TOTAL ASSETS LESS CURRENT LIABILITIES

629,673

630,586

CREDITORS

Amounts falling due after more than one year

8

(133,699

)

(148,819

)

NET ASSETS

495,974

481,767

FUNDS

Unrestricted funds

495,974

481,767

TOTAL FUNDS

495,974

481,767

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 6 November 2020 and were signed on its behalf by:

Mr 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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

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

2019

2018

£

£

Rents received

19,180

19,200

3.	RAISING FUNDS

Investment management costs

2019

2018

£

£

Interest payable and similar charges

4,060

6,881

4.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 November 2019 nor for the year

ended 30 November 2018.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 November 2019 nor for the year ended

30 November 2018.

5.	STAFF COSTS

The average monthly number of employees during the year was as follows:

2019

2018

Administrative

1

-

No employees received emoluments in excess of £60,000.

6.	INVESTMENT PROPERTY

£

MARKET VALUE

At 1 December 2018

and 30 November 2019

651,195

NET BOOK VALUE

At 30 November 2019

651,195

At 30 November 2018

651,195

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts (see note 9)

17,619

17,619

Accruals and deferred income

4,366

3,466

21,985

21,085

8.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans (see note 9)

133,699

148,819

9.

LOANS

An analysis of the maturity of loans is given below:

2019

2018

£

£

Amounts falling due within one year on demand:

Bank loans

17,619

17,619

Amounts falling between one and two years:

Bank loans - 1-2 years

133,699

148,819

10.	RELATED PARTY DISCLOSURES

The following donations were received during the year from related parties who are under common control:

Name of Related Party

Amount (£

)

Bellamore Trading Limited

800

Continental Imports Limited

300

Total related party transactions

1,100

The following donations were paid during the year from related parties who are under common control:

Name of Related Party

Amount (£

)

Yad Vochessed Association Limited

1000

Total related party transactions

1,000