Kermaville Limited - Charities report - 18.1

Kermaville Limited - Charities report - 18.1

KERMAVILLE LIMITED - Company Information

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IRIS Accounts Production v18.3.1.65 Other Company accounts True False Pounds 1.4.17 31.3.18 31.3.18 FY L Rabinowitz L Rabinowitz 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:pure010991422017-03-31010991422018-03-31010991422017-04-012018-03-31010991422016-03-31010991422016-04-012017-03-31010991422017-03-3101099142ns0:CharitableCompanyLimitedByGuarantee2017-04-012018-03-3101099142ns15:PoundSterling2017-04-012018-03-3101099142ns0:Trustee12017-04-012018-03-3101099142ns11:FRS1022017-04-012018-03-3101099142ns11:IndependentExaminationCharity2017-04-012018-03-3101099142ns11:LargeMedium-sizedCompaniesRegimeForAccounts2017-04-012018-03-3101099142ns11:FullAccounts2017-04-012018-03-3101099142ns11:CharitiesSORP2017-04-012018-03-3101099142ns16:EnglandWales2017-04-012018-03-3101099142ns0:Activity82017-04-012018-03-3101099142ns0:Activity82016-04-012017-03-3101099142ns10:WithinOneYear2018-03-3101099142ns10:WithinOneYear2017-03-310109914212017-04-012018-03-310109914232017-04-012018-03-31
REGISTERED COMPANY NUMBER: 01099142 (England and Wales)
REGISTERED CHARITY NUMBER: 266075



















KERMAVILLE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2018
Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS










KERMAVILLE LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018










Page

Reference and Administrative Details 1

Report of the Trustees 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5

Notes to the Financial Statements 6 to 8

KERMAVILLE LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2018




TRUSTEES L Rabinowitz (Company Director)



COMPANY SECRETARY M Landau



REGISTERED OFFICE First Floor
94 Stamford Hill
London
N16 6XS



REGISTERED COMPANY NUMBER 01099142 (England and Wales)



REGISTERED CHARITY NUMBER 266075



INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS



BANKERS Barclays Bank Plc
155 Bishopsgate
London
EC2M 3XA

Page 1
KERMAVILLE LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 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 March 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).

Reference and administrative information
Reference and administrative information is shown on page 1 of the financial statements and forms part of
this report.

OBJECTIVES AND ACTIVITIES
Objects for public benefit
The objects of the charity are to advance religion in accordance with the Orthodox Jewish Faith,and such
other purposes as are considered charitable.
The trustees confirms he has given due regard to the Charity Commission's general guidance on public
benefit.

ACHIEVEMENT AND PERFORMANCE
The trustee is satisfied with the results for the year. Investment income was in line with the previous year. e
The trustees reduced grantmaking to leave a surplus for the year. Free reserves at the year end were £4,677.

FINANCIAL REVIEW
Reserves policy
The trustee does not seek to maintain reserves, other than to ensure that they can continue the activities of
the charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The charity is constituted by Memorandum and Articles of Association dated 28th February 1973.

Organisational structure
The day-to-day affairs of the company are administered by the trustee.

Risk management
The trustee confirms that there are no major risks to which the charity is exposed.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act
2006 relating to small companies.

Approved by order of the board of trustees on 24 January 2019 and signed on its behalf by:



L Rabinowitz - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
KERMAVILLE LIMITED
Independent examiner's report to the trustees of Kermaville Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended
31 March 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







E Meyer FCA BSc
Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS


24 January 2019
Page 3
KERMAVILLE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2018
2018 2017

Unrestricted
fund		 Total
funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Investment income 2 26,633 25,800
Total 26,633 25,800

EXPENDITURE ON
Raising funds
Investment management costs 3 3,996 522
3,996 522

Charitable activities 4
Charitable activities 18,103 27,709
Total 22,099 28,231
NET INCOME/(EXPENDITURE) 4,534 (2,431 )
RECONCILIATION OF FUNDS

Total funds brought forward 250,143 252,574
TOTAL FUNDS CARRIED FORWARD 254,677 250,143
The notes form part of these financial statements
Page 4
KERMAVILLE LIMITED (REGISTERED NUMBER: 01099142)
BALANCE SHEET
AT 31 MARCH 2018
2018 2017

Unrestricted
fund		 Total
funds
Notes £    £   
FIXED ASSETS
Investment property 8 250,000 250,000

CURRENT ASSETS
Cash at bank 6,629 2,095

CREDITORS
Amounts falling due within one year 9 (1,952 ) (1,952 )

NET CURRENT ASSETS 4,677 143
TOTAL ASSETS LESS CURRENT
LIABILITIES

254,677
250,143
NET ASSETS 254,677 250,143
FUNDS
Unrestricted funds:
General fund 254,677 250,143
TOTAL FUNDS 254,677 250,143
The charitable company is entitled to exemption from audit under
Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended
31 March 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 24 January 2019 and were signed on its behalf by:




L Rabinowitz -Trustee
The notes form part of these financial statements
Page 5
KERMAVILLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 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.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements,
estimates and assumptions about the carrying amounts of assets and liabilities that are not readily
apparent from other sources. These estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. The estimates and underlying
assumptions are reviewed on an ongoing basis.

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 in the year in which they are incurred and includes irrecoverable VAT.

Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance
with constitutional and statutory requirements.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly
attributable expenditure. It is revalued to its fair value at each reporting date any changes are
transferred to the Statement of Financial Activities. No depreciation is provided in respect of
investment properties applying the fair value.

The fair value of the investment properties has been arrived at on the basis of a valuation carried out
by the trustees who are considered to have the experience and expertise required to undertake such
an exercise. The valuation was made on an open market value basis by reference to market evidence
of transaction prices for similar properties in the same or similar location.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Going concern
There are no material uncertainties about the charity's ability to continue.

2. INVESTMENT INCOME

2018 2017
Unrestricted Total
funds funds
£    £   
Rents received 26,633 25,800

Page 6
KERMAVILLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 31 MARCH 2018
3. INVESTMENT MANAGEMENT COSTS

2018 2017
Unrestricted Total
funds funds
£    £   
Property repairs 3,996 522

4. CHARITABLE ACTIVITIES COSTS



Grant
funding of
activities
Support
costs

Totals
(See note 5) (See note 6)
£    £    £   
Charitable activities 17,000 1,103 18,103

5. GRANTS PAYABLE

2018 2017
£    £   
Charitable activities 17,000 26,500

The total grants paid to institutions during the year was as follows:
2018 2017
£    £   
Education - 18,000
Reilief of poverty 7,000 8,500
Advancement of religion 10,000 -
17,000 26,500

Grant are as follows:
Keren Chochmas Shlomo Trust £7,000 and Tchabe Kollel Ltd £10,000.

6. SUPPORT COSTS


Governance
costs
£   
Charitable activities 1,103

Support costs, included in the above, are as follows:

2018 2017

Charitable
activities		 Total
activities
£    £   
Independent examiner's fee 390 390
Independent examiner's other fee 390 390
General expenses 323 344
Interest payable and similar charges - 85
1,103 1,209

Page 7
KERMAVILLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 31 MARCH 2018
7. TRUSTEES' REMUNERATION AND BENEFITS

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

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

8. INVESTMENT PROPERTY

£   
MARKET VALUE
At 1 April 2017 and 31 March 2018 250,000
NET BOOK VALUE
At 31 March 2018 250,000
At 31 March 2017 250,000

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018 2017
£    £   
Trustees' account 1,173 1,173
Accruals and deferred income 779 779
1,952 1,952

10. RELATED PARTY DISCLOSURES

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

Page 8