HIGHFIELD CHARITIES LIMITED COMPANY LIMITED BY …

COMPANY REGISTRATION NUMBKR 0874560

HIGHFIELD CHARITIES LIMITED

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

FOR

5 APRIL 2016

Charity Number 254293

COHEN ARNOT. D( hnlterecl Acenuntanlt)Vess 13urhngton 1-louae

107s I'inchle) l(oa012)NO()V

ViV 1 I OPU

HIGHFIELD CHARITIES LIMITEDCOMPANY LIMITED BY GUARANTEE

PINANClAL STATEMENTS

YEAR ENDED 5 APRIL 2016

CONTENTS

Members of the Board and professional advisers

Trustees Annual Report

independent examiner's repnrt to the members

Statement of financial activities (incorporating theincome and expenditure account)

Balance sheet

Notes to the financial statements

The following pages do not form part of ihe financial statements

Detailed statement of financial activities

PAtlES

2 to 3

7to9

10 to 11

HIGHFIELD CHARITIES LIMITEDCOMPANY LliiIITED BY GUARAiVTEE

MElstBERS OF THE BOARD AND PROFESSiONAL ADVISERS

Registered charity name

Charity number

Company registration number

I-lighfield Charities Liniited

254793

0874560

Registered office

Trustees

independent examiner

New Burlington House1075 Finchley RoadLondonNWI I OPU

Mr M M EisenthalMrs 3 ICaufman

Moshe Broner-Cohen ACANew Burlington House1075 Fincliley RoadLONDONNWI I OPU

HIGHFIELD CHARITIES LIIVIITEDCOMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT


Thc trustees, who arc also directors for the purposes of company law, present their report and the unaudited

financial statements of the charity for the year ended 5 April 2016.

REFERENCE AND ADM1NISTRAT1VE DETA1LS

Reference and administrative details are shown in the schedule of members of the board and professionaladvisers on page I of the financial statements.

THE TRUSTEES

The trustees who served the charity during the period were as follows:

Mr S EisenthalMrs V SchussheimMr M M EisenthalMrs J Kaufman

Mr M M Eisenthal was appointed as a Member of the Committee on 4 April 2016.Mrs J Kaufman was appointed as a Member of the Committee on 4 April 2016.Mr S Eisenthal passed away on 21 March 2016.Mrs V Schussheim retired as a Member of the Committee on 4 April 2016.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is governed by the Article and Memorandum of Association dated 17th October 1967

Appointment, Training and Recruitment of Trustees

The organisation is run by the trustees. Each trustee holds office until he/she dies or ceases to hold office byvirtue of Article 47 of the Articles ot'Association.

It is not the attention of the trustees of the charity to appoint any new trustees. Should the situation change in thefuture, the trustees will apply suitable recruitment, training and induction procedures.

None of the trustees have any beneficial interest in thc company.

RISK MANAGEMENT

The trustees have identiiied and reviewed thc major risks to which thc Trust is exposed, in particular thoserelated tu the operations and lmance of the Trust. and arc satisfied tlmt systems arc in place to mitigate thoserislts.

Pinancial risk lnanagement and policics

The charity holds or issue financial instruments in order to achieve three mam objectives bein .

a)b)

c)

lo tnlanCC IIS opclutlonslu inanagc ils cxpuinirc to iiltci'csl ilnd clilvcncy risks al ising Il'uul operations und

Ironi ils soul ces ot tul iilce, IndIui' gcllcl allo ' hinds

In ad(lition vartous tinancllll 111su'unlcnls (e trade Iichturs, tladc clcditol"I, acct ullissnd pfcpaynlcnts) arlsl'.

directly Iium thc chmity's upcrations


TRUSTEES ANNUAL REPORT (caalimlaiii


Credit risks

The charity monitors credit risk closely and considers that its current policies of credit risk checks meets its

objectives of managing exposure to credit risk.

The charity has no significant concentrations of credit risks. Amounts shown in the balance sheet represent themaximum credit exposure in the event other parties fail to perform their obligations under the financialinstruments.

It is recognised that systems can only provide reasonable but not absolute assurance that nlajor risks have beenadequately managed.

OBJECTIVES, AIMS AND ACTIVITIES FOR THE BENEFIT OF THE PUBLIC

The charity was established to further those purposes which recognised as charitable by English Law in UnitedKingdom and abroad. .

The trustees confirm that they have referred to the guidance contained in the Charity's Commission's generalguidance on public benefit when reviewing the charity's ailn and objectives and in planning future activities andsetting thc grant making policy for the year.

The charity was set up to support the activities of charitable organisations. The trustees identify institutions andorganisations which meet its criteria and regularly support a number of these institutions and organisations,which themselves are growing not only in England but also worldwide.

The charity is also supportive of organisations which are solely committed to the relief of poverty. Suchorganisations assist needy Jewish families financially and also through distribution of basic needs.

ACHIEVEMENTS AND PERFORMANCE

During the year the charity continued its support of charitable organisations.

FINANCIAL REVIEW

The charity holds investrncnt property which ensures a steady stream of income to meet the ongoing calls madeto the charity. Tbe property was vacant during the year. The charitable donations paid during the year wercf5,950 (2015.'L46, 530k

PLANS FOR FUTURE PERIODS

'fhe trustees are satisfied with the charity's performance and plan to continue its current activities.

SIVIALL CON1PANY PROVISIONS

I'his rcpcrt has been prepared in accoi clancc with i»c provi1ioiis a»plica»le io contpanics cntilled to the s»mll

cot»panic& cxcnlpiloil

Registered office,Ncw Bullinglon I louseI 075 Pinr. lilev Riiad

I .on cl0 i i

NW I I 0I'I

Si ned on behalf ot ilia» usices

I 1 usicc

19 Scpimlibci 2016


INDEPKNDKNT EXAMINER'S REPORT TO THE MEMBERS OFH IGHFIKLD CHARITIES LIMITED


I report on the accounts of the charity for the year ended 5 April 2016 which are set out on pages 5 to 9

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The trustees (who are also the directors of Highfield Charities Limited for the purposes of company law) areresponsible for the preparation of the accounts. The trustees consider that an audit is not required for this yearunder section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent

examination, it is my responsibility to:

examine the accounts under section 145 of the 2011 Act;

to follow the procedures laid down in the general Directions given by the Charity Comniission undersection 145(5)(b) of the 2011 Act; and

io state whether particular matters have come to my aitention,

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the general Directions given by the Charity Commission. An

examination includes a review of the accounting records kept by the charily and a comparison of the accountspresented with those records, lt also includes consideration of any unusual items or disclosures in the accounts,and seeking explanations I'rom you as trustees concerning any such matters. The procedures undertaken do nolprovide all the evidcncc that would be required in an audit and consequently no opinion is given us to whether

the accoums present a 'true and fair view' and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER'S STATKMENT

In connection with my examination, no matter has come to my attention;

(I) which gives me reasonable cause to believe that in any material respect the requirements:

to keep accounting records in accordance with section 386 of the Companies Act 2006; and

to prepare accounts which accord with the accounting records, comply with the accounting requirementsof section 396 of the I.'ompanies Act 2006 and with the methods and principles of thc Statement ofRecommended Practice: Accounting and Reporting by Charities

have not been met; or

(2) to wliich, in my opmion, attention shonld be drawn in order to enable a piopcr understanding ol' the accountsfo be ieached.

Moshc Broner-Cohen A&'A

Independent ei, aininci

New I1ui linalnn I loiisc1075 I inchlcy RoadLONDONN VY I I f)I'll

19 bcplcmbcr '016


STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THKINCOME AND EXPENDITURE ACCOUNT)


Total Funds Total Funds2016 2015

Note 8 f.INCOME AND ENDOWMENTSDonations and legaciesInvestment income

TOTAL INCOME

50,0004)875 19,300

54,875 19,500

EXPENDITUREExpenditure on raising funds:

Investment management costsExpenditure on charitable activities

TOTAL EXPENDITURE

45/6

(1,651)(8,350)

(I 0,001)

(70)(50,557)

(30,627)

NET INCOME/(EXPENDITURE) AND NET MOVEMENT IN FUNDSFOR THE YEAROTHER RECOGNISED GAINS AND LOSSESLosses on investment assets

NET MOVEMKNT IN FUNDSRECONCILIATION OF FUNDSTotal funds brought forward

TOTAL FUNDS CARRIED FORWARD

44,874

(67,726)

(22,852)

207,954

185,102

(31,127)

(31,127)

239,081

207,934

The Statement of financial activities includes all gains and losses in the year.

All of the above amounts relate to continuing activities.

Thc llotcs oil p lgcs 7 to 9 form part of thcsc I'inancial statements

EIIGHFIEiLD CHARITIES LIMITEDCOIVIPANY LIMITED BY GUARANTEE

BA LANCE SH L'ET

5 APRII, 2016

2016N I)'I c

20IS

FIXI'.D Aglil: I'5

I In v os I ln c 1 I t s

CURRENT ASSETSCash at bank

CREDITORS: Amounts falling duewithin onc year

659561

9 (10,459)

130,000

18,287

(8,059)

I 97,726

NET CURRENT ASSETS

TOTAL ASSETS LESS CURRENT LIABILITIES

NKT ASSETS

55,102

185,102

185,1 02

10,228

207,954

207,954

FUNDS OF THE CHARITYUNRESTRICTED INCOME FUNDS:Unrestricted income funds

Revaluation reserve10 252,82810 (67,726)

207 cJS4

TOTAL UNRESTRICTED INCOME FUNDS

TOTAL CHARITY I UNDS

185,102

185,102

207,954

207,954

For the year ended 5 April 2016 the charity was entitled to exemption ftom audit under section 477 of the

Companies Act 2006 relating to small companies.

Trustees' responsibilities. '

~ The members have not required the charity to obtain an audit ol' its accounts for the yern in question in

accordance with section 476; and

~ 'I'he trustees acknowledge their responsibilities for complying with the requirements ol'the Act with respect

to accounting records and thc preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the

small companies regime and with the Financial Reporting Standurd I'or Smaller Entities (effective January 20 I 5).

'I'hesc linancial statements were approved by the trustees and authorised for issue on the 19 September 2016 and

arc signed on their behalfby:

'I rnstcc

I'ompany lte" ti, u atiiin Numl&er: 0874560

I hc nntci on I)uucc 7 to ii I'erin ])at I rii tlicsc I'in, inci'il itiitcntcnti

HIGHFIFLD CHARITIES LIMITEDCOMPANY LIMITED BY GIjARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR EiVDED 5 APRIL 2016

I. ACCOUNTING POLICIES

Basis of accounting

The financial statements Imve been prepared under the historical cost convention, as nsodified by the

revaluation of certain fixed assets and investments measured at market value. The financial statenscnts have

been prepared in accordance with tbe Financial Reporting Standard for Smaller Entities (el'fective January

2015), and the requirements of 'Accounting and Reporting by Charities' Statement of Recommended

Practice applicable to charities preparing their accounts in accordance with the Financial Reporting

Standard for Smaller Entities (effective January 2015)(SORP 2015).

IncomeDonations and grants are included as income when they are received.

Expenditure

All expenditure is classified under the Charity's principal categories of charitable and other expenditure and

by the type of expense.

Fund Accounting

(iencral unrestricted funds comprise thc accumulated surplus or deficit on income and expenditure account.

They me available for use at the discretion of the Trustees in furtherance of the general objectives of thc

Charity.

Restricted funds are I)mds subject to specific restricted conditions imposed by donors. There are no

restricted funds as at the Balance Sheet date.

Designated funds are funds, which have been set-aside at the discretion of the Trustees for specific

purposes. There are no designated funds as at the Balance Sheet date.

Properties held for investment

The company's investment properties are included in the I'inancial Statements at the trustees' best estimate

of market value at the Balance Sheet date. The unrealised gains and losses are shown in the Statements ofFinancial Activities.

Taxation

The Chartty is not linble to direct taxation (Income 'I'ax) on its income as it falls within the various

exemptions available to registered charities.

Thc Charity is not rcgistcred for valued added tax (VAT) and is therefore unable to reclaim any input tax it

sufi'ers on its purchases. Expenditure in the Accounts is therefore shown inclusive of VAT where

appropriate.

DONATIONS AND I.E(JA('IES

D it Il a t i 0 II sDonation

Unrestricted Total Funds t&nrcsiricied

Funds 2016 I ulsds

f.

50,0(ii) 50,000

f~ tal I. »mis

2ti I'

(

I Iic donatio» received oui i» iiic )car uiis fium the laic I rusicc, ihli 5 I-:ise»thai

ik IVVI 5'I VII:.iV f liN('ONI I'.

HIGHI'IELD CHARITIES I IMITEDCOIYIPANY LIMITED BY GUARANTEE

il(3TES TO TIIE FIVANCIAL STATEMEVTS

YEAR EIVDED 5 APRIL 201(')

Un restrictedFunds

4)875lnconie from UK investmcnt property

4. INVESTMENT MANAGEMENT COSTS

Total Funds2016

4,875

Lfnrestricted

Funds

19,500

'I o(al Fnnifs

2015

19,500

Bank chargesService chargesLight and I-leat

I.egal and professional fees

UnrestrictedFunds

57962

32600

1,651

Total Funds2016

5796232

600

1,651

UnrestrictedFunds

70

70

Total Funds20156

70

70

5. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE

Grants paidSupport costs

UnrestrictedFunds

5,9502,400

8,350

Total Funds20166

5,9502)400

8,350

UnrestrictedFunds

46,5304,027

50,557

Total Funds2015

46,5304,027

50 557

6. COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE

(ir;inls paidDove('l(alice costs

Grants paid

5,950

5,950

Total Funds2016

5,9502,400

8,350

Total Funds2015f

46,5304,027

:0,557

GRANTS PAYABLE

The following grant payments were made during the year ended 31 March 2016;

Yesoday I-fatorah SchoolAmount~ below f 1,000

2(11(i

6

c (10

-150

Total Grants Paya hlc ) 950

All ihc grants werc mad(: foi ilic put poses of iifiei the a(lvancwmcn( of.lev isl) educiition oi tile allcvia(((Illol povci ty.

S'I AFF COSTS A VD Eiylt)I, UMEV'I'S

No salaiics or wages have heen paul to employees. including the trustees, during the year

'1'Ilc clhai i(y ifi(f not meri an( iniiividu;il cvpmincs incuocd fl& thc tius(ecs fill set vlci'5 fil'ovl(fc(l tll 11(c

cliaii((

8. IlxVESTMEiuTS

HII,'HFIFI. D CHARITIFtv LIMITFDCOMPANY LIIVIITFD BY i UARAViTFE

NOTES TO THE FINANCIAL STATEblENTS


Movcmcnt in market value

Market value at 6 April 2015Nct gains on revaluations in the year ended 5 April 2016

Market value at 5 April 2016

Historical cost at 5 April 2016

Analysis of investments at 5 April 2016 between funds

Other investmentsUK Investment Property

2016 20IJf

197,726 197,726(67&726)

130,000 197,726

197,726 197,726

Total Funds Total Funds2016 2015

f.

130,000 I 97,726

Leasehold land and building was revalued on 31 August 2016 by Alan Jones BSc MRICS of Cooke k.Arkwright, a Registered Valuer under the RICS Valuer Registration Scheme.

9. CREDITORS: Amounts falling due within one year

Other creditors

20166

10&459

2015

5,059

10. UNRESTRICTED INCOME FUNDS

General t unds

Balance st6 April 2015

207&954

Income Cains and losses

44&874 (67,726)

Balance at5 April 2016

185,102

11. ANALYSIS OF NFT ASSETS BETWEEN FUNDS

Unrcstrictcd Income Funds

Total Iiunds

Tangible fixedassets

130,UUII

131!,UUII

Other netassets

55, 1U2

55, 102

Total

185,102

185, 102

12. COMPANY LliNHTI. D BY Gt!ARAiN I'EE

Thc company is limited by guarantee aml has nn share capital. I'hc liability of the members i& liniited io ihe

sum I'o f. l per member,

HIGHFIKLD CHARITIKS LIMITEDCOMPANY LIMITED BY GUARANTEE

VIANAOEMENT INFORlV1ATION

YEAR ENDED 5 APR1E 2016

The following pages do not form part of the statutory financial statementswhich are thc suhjcct of the independent examiner's repurt on page 4.

HIGHS'H;LD GHARITIVcs LIMITI:DCOMPANY LIMITL&D BY GUARAIVTEK

DETAILFD STATFMENT OF FINANCIAL Ac 'TIVI'I'IES

YEAR FNDFD 5 APRII. 2016

201/& 2015

INCOMING RESOURCESDONATIONS AND LKGACIESDonation

INVESTMKNT INCOMEIncome from UK investment property

50,000

4&875 19,500

TOTAL INCOME 54,875 19,500

EXPENDITUREINVESTMK&NT MANAGEMFNTCOSTSBank chmgesService chargesLight and Pleat

Legal and professionalfees

CHARITABLE ACTIVITIESCharitable Donations

GOVERNANCE COSTSAccountancy feesLegal fees

5796232

600

1,651

5,950

2,40tl

2,400

70

70

46,530

2,6401,387

4,027

TOTAL EXPENDITURE 10,001 50,627

NET INCOMING/(OUTGOING)RESOURCES FOR THE YEAR 44,874 (3 1, 127)

HIGHFIELD CHARITIES I,IMITFDCOMPANY LIMITED BY GUARANTEE

DETAII. ED STATEMENT OP FINANCIAL ACTIVITIES


2016 20155

CHARITABLE ACTIVITIK.'tGrants paidGrnrtic pnidCharitable Donations 5,950 46,530

HIGHFIELD CHARITIES LIMITED COMPANY LIMITED BY …

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