Hazlemount Limited - Charities report - 21.1
Hazlemount Limited - Charities report - 21.1
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| FOR |
| HAZLEMOUNT LIMITED |
| HAZLEMOUNT LIMITED |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| 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 |
| HAZLEMOUNT LIMITED (REGISTERED NUMBER: 02871917) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| 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 2020. 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 |
| 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. |
| The Trustees are confident that the Charity will able to continue to carry out its objectives whilst bearing in mind the effects of Covid 19. |
| 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 |
| Registered Charity number |
| Registered office |
| Trustees |
| HAZLEMOUNT LIMITED (REGISTERED NUMBER: 02871917) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Company Secretary |
| 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 |
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
| HAZLEMOUNT LIMITED |
| 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 2020. |
| 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 |
| 12 July 2021 |
| HAZLEMOUNT LIMITED |
| STATEMENT OF FINANCIAL ACTIVITIES |
| (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
| FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| 2020 | 2019 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Investment income | 2 |
| Total |
| EXPENDITURE ON |
| Raising funds | 3 |
| Charitable activities |
| Charitable activities |
| Total |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 495,974 |
| HAZLEMOUNT LIMITED (REGISTERED NUMBER: 02871917) |
| BALANCE SHEET |
| 30 NOVEMBER 2020 |
| 2020 | 2019 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 6 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| NET ASSETS |
| FUNDS |
| Unrestricted funds | 511,123 | 495,974 |
| TOTAL FUNDS | 495,974 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 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 |
| HAZLEMOUNT LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| 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. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. |
| 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 |
| 2020 | 2019 |
| £ | £ |
| Rents received |
| HAZLEMOUNT LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| 3. | RAISING FUNDS |
| Investment management costs |
| 2020 | 2019 |
| £ | £ |
| Property repairs |
| Interest payable and similar charges | 1,811 | 4,060 |
| 2,511 | 4,060 |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 30 November 2020 nor for the year ended 30 November 2019. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 30 November 2020 nor for the year ended 30 November 2019. |
| 5. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 2020 | 2019 |
| Administrative` |
| 6. | INVESTMENT PROPERTY |
| £ |
| FAIR VALUE |
| At 1 December 2019 |
| and 30 November 2020 |
| NET BOOK VALUE |
| At 30 November 2020 |
| At 30 November 2019 |
| HAZLEMOUNT LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Trade creditors |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans (see note 9) |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due within one year on demand: |
| Bank loans |
| Amounts falling between one and two years: |
| Bank loans - 1-2 years |
| 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 Ltd | 1,150 |
| Grovepalm Ltd | 1,069 |
| Maplecroft Consultants Ltd | 350 |
| J & J Partners | 500 |
| Total related party transactions | 3,069 |