TEGHAM LIMITED Charity Accounts
TEGHAM LIMITED Charity Accounts
COMPANY REGISTRATION NUMBER:
01570443
CHARITY REGISTRATION NUMBER:
283066
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Company Limited by Guarantee |
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Company Limited by Guarantee |
Financial Statements |
Year ended 31 March 2023
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) |
5 |
Statement of financial position |
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 March 2023
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 March 2023
.
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 |
1Hallswelle Road |
NW11 0DH |
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London |
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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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England |
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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 is therefore governed by a Memorandum and Articles of Association.
Objectives and activities
The company is a registered charity and its principal activity during the year was the distribution of its income to charities. The objects of the charity are to advance religion in accordance with Orthodox Jewish Faith and to support other charitable activities as are recognised by English Law as charitable. In furtherance of its objects the charity continued to advance and donate money and support other charities with objects similar to those detailed above. The charity is run jointly by all the trustees, who make any important decisions in tandem. The trustees meet regularly to manage the charity's affairs. There are no paid employees and all administration work is carried out on a voluntary basis by the governors.
PUBLIC BENEFIT
The trustees have considered the guidance published by the Charity Commission and believe that the charity in carrying out its objectives, fully complies with these requirements. In particular the provisions of funds for communal charitable institutions such as synagogues and homes for the elderly and infirm in accordance with the principles of traditional Judaism automatically gives rise to a public benefit. Each year the trustees review the objectives and activities of the charity to ensure that they continue to reflect these aims. In carrying out this review the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
The charity is organised so that the governors 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
The statement of financial activities shows a net profit /(loss)for the year amounting to £69,466 (2021 - £(95,717) after making the substantial donations of £268,020 (2021 - £325,927). The reserves stand at £2,776,695 (2021 - £2,707,229) in total. The trustees consider it prudent to retain the current level of reserves in order to generate sufficient income to be able to distribute significant funds to charity in accordance with the objects of the charity company.
RISK MANAGEMENT
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate such risks.
FUNDING
The charity does not partake in external funding activities. Funds are derived on an annual basis from investment.
Plans for future periods
The governors intend to continue performing at similar levels to current year which has been most satisfactory. Substantial donations will continue to be paid to various institutions.
The trustees' annual report and the strategic report were approved on
10 January 2024
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 March 2023
I report to the trustees on my examination of the financial statements of
TEGHAM LIMITED
('the charity') for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
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.
Hallswelle House
1 Hallswelle Road
London
England
NW11 0DH
10 January 2024
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Company Limited by Guarantee |
Statement of Financial Activities |
(including income and expenditure account) |
Year ended 31 March 2023
2023 |
2022 |
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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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Investment income |
6 |
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--------- |
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--------- |
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Total income |
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--------- |
--------- |
--------- |
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Expenditure
Expenditure on charitable activities |
7,8 |
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Other expenditure |
9 |
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--------- |
--------- |
--------- |
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Total expenditure |
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--------- |
--------- |
--------- |
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--------- |
--------- |
--------- |
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Net (expenditure)/income 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 |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible fixed assets |
12 |
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Current assets
Cash at bank and in hand |
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Creditors: amounts falling due within one year |
13 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Funds of the charity
Unrestricted funds |
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Total charity funds |
14 |
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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
10 January 2024
, and are signed on behalf of the board by:
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Trustee |
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Company Limited by Guarantee |
Notes to the Financial Statements |
Year ended 31 March 2023
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, 1Hallswelle Road, NW11 0DH, London.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Going concern
Judgements and key sources of estimation uncertainty
Fund accounting
Incoming resources
Resources expended
Tangible assets
Financial instruments
4.
Limited by guarantee
Tegham Limited is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
5.
Donations and legacies
Unrestricted Funds |
Total Funds 2023 |
Unrestricted Funds |
Total Funds 2022 |
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£ |
£ |
£ |
£ |
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Donations
Receipts under gift aid |
240,000 |
240,000 |
230,000 |
230,000 |
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6.
Investment income
Unrestricted Funds |
Total Funds 2023 |
Unrestricted Funds |
Total Funds 2022 |
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£ |
£ |
£ |
£ |
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Income from investment properties |
110,960 |
110,960 |
110,960 |
110,960 |
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Bank interest receivable |
4,202 |
4,202 |
250 |
250 |
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7.
Expenditure on charitable activities by fund type
Unrestricted Funds |
Total Funds 2023 |
Unrestricted Funds |
Total Funds 2022 |
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£ |
£ |
£ |
£ |
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Donations paid to other charities and individuals |
574,972 |
574,972 |
268,020 |
268,020 |
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Support costs |
147 |
147 |
123 |
123 |
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8.
Expenditure on charitable activities by activity type
Activities undertaken directly |
Support costs |
Total funds 2023 |
Total fund 2022 |
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£ |
£ |
£ |
£ |
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Donations paid to other charities and individuals |
574,972 |
– |
574,972 |
268,020 |
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Governance costs |
– |
147 |
147 |
123 |
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9.
Other expenditure
Unrestricted Funds |
Total Funds 2023 |
Unrestricted Funds |
Total Funds 2022 |
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£ |
£ |
£ |
£ |
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Accountancy fees |
3,480 |
3,480 |
3,360 |
3,360 |
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Legal and professional fees |
385 |
385 |
241 |
241 |
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------- |
------- |
------- |
------- |
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10.
Independent examination fees
2023 |
2022 |
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£ |
£ |
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Fees payable to the independent examiner for:
Independent examination of the financial statements |
3,480 |
3,360 |
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11.
Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
12.
Tangible fixed assets
Land and buildings |
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£ |
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Valuation |
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At 1 April 2022 and 31 March 2023 |
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--------- |
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Depreciation |
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At 1 April 2022 and 31 March 2023 |
– |
--------- |
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Carrying amount |
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At 31 March 2023 |
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--------- |
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At 31 March 2022 |
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--------- |
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13.
Creditors:
amounts falling due within one year
2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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– |
Accruals and deferred income |
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Other creditors |
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--------- |
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14.
Analysis of charitable funds
Unrestricted funds
At 1 April 2022 |
Income |
Expenditure |
At 31 March 2023 |
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£ |
£ |
£ |
£ |
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General reserve |
2,719,374 |
355,162 |
(578,984) |
2,495,552 |
Fair value reserve |
57,321 |
– |
– |
57,321 |
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--------- |
--------- |
------------ |
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2,776,695 |
355,162 |
(578,984) |
2,552,873 |
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At 1 April 2021 |
Income |
Expenditure |
At 31 March 2022 |
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£ |
£ |
£ |
£ |
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General reserve |
2,649,908 |
341,210 |
(271,744) |
2,719,374 |
Fair value reserve |
57,321 |
– |
– |
57,321 |
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--------- |
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2,707,229 |
341,210 |
(271,744) |
2,776,695 |
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15.
Analysis of net assets between funds
Unrestricted Funds |
Total Funds 2023 |
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£ |
£ |
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Investments |
250,000 |
250,000 |
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Current assets |
2,519,404 |
2,519,404 |
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Creditors less than 1 year |
(216,531) |
(216,531) |
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------------ |
------------ |
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Net assets |
2,552,873 |
2,552,873 |
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Unrestricted Funds |
Total Funds 2022 |
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£ |
£ |
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Investments |
250,000 |
250,000 |
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Current assets |
2,722,106 |
2,722,106 |
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Creditors less than 1 year |
(195,411) |
(195,411) |
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Net assets |
2,776,695 |
2,776,695 |
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