CLOSEHELM LIMITED
Financial health, per its FY2023 accounts
The accounts state that unrestricted reserves of £137,611 exceed the trustees' policy target of £79,900, a surplus held due to uncertainty surrounding a major tenant's lease renewal. The trustees acknowledge the charity is dependent on the continued support of companies controlled by the trustees, specifically regarding deferred amounts due to them, though they conclude there are no material uncertainties regarding going concern.
What the accounts disclose
“The Trustees have an objective to achieve unrestricted reserves of net current assets to equal six months running costs to cover the risk presented by the current economic environment which has seen commercial properties unoccupied and downward pressure on rents receivable. This would equate to £79,900 (2022: £67,890) in respect of this financial year.” — page 3
“The company is dependent on the continued support of companies controlled by the Trustees' and their agreement of deferring the amounts due to them. There are no reasons to suggest that this support shall not continue for a period in excess of twelve months from the approval of the accounts.” — page 9
“During the year the company was loaned funds to pursue its charitable objects by Broadminster Limited, a company controlled by the Trustees. At the year end amounts due to Broadminster Limited totalled £24,652 (2022: £40,652). The loan from Broadminster Limited is interest free, unsecured and repayable on demand. During the year Broadminster Limited donated £15,000 (2022: £Nil) to the charity.” — page 15
“During the year the Trustees Mr A Van Praagh and Mrs H W Van Praagh loaned funds to the company. At the year end, amounts due to Mr A Van Praagh and Mrs H W Van Praagh totalled £17,707 (2022:£17,786). The loan is interest free, unsecured and repayable on demand.” — page 15
“During the year the company was loaned funds to pursue its charitable objects by Broadminster Limited, a company controlled by the Trustees. At the year end amounts due to Broadminster Limited totalled £24,652 (2022: £40,652). The loan from Broadminster Limited is interest free, unsecured and repayable on demand. During the year Broadminster Limited donated £15,000 (2022: £Nil) to the charity.” — page 15
“During the year the Trustees Mr A Van Praagh and Mrs H W Van Praagh loaned funds to the company. At the year end, amounts due to Mr A Van Praagh and Mrs H W Van Praagh totalled £17,707 (2022:£17,786). The loan is interest free, unsecured and repayable on demand.” — page 15
Trustees
- HENRIETTA WILHELMINA VAN PRAAGHchair
- Dovid Samuel Van Praagh
- HANNA REBECCA GROSBERG
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 30/03/2025 | £148k | £192k |
| 30/03/2024 | £167k | £171k |
| 30/03/2023 | £192k | £160k |
| 30/03/2022 | £193k | £136k |
| 30/03/2021 | £216k | £100k |
Common questions
Is CLOSEHELM LIMITED financially healthy?
The accounts state that unrestricted reserves of £137,611 exceed the trustees' policy target of £79,900, a surplus held due to uncertainty surrounding a major tenant's lease renewal. The trustees acknowledge the charity is dependent on the continued support of companies controlled by the trustees, specifically regarding deferred amounts due to them, though they conclude there are no material uncertainties regarding going concern. Its FY2023 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| LUBAVITCH EDUCATION TRUST | 1 | — |
| THREE PILLARS TRUST | 1 | £1.2m |
| KOLYOM TRUST LIMITED | 1 | £562k |
| ASSER BISHVIL FOUNDATION | 1 | £296k |
| BROOM FOUNDATION | 1 | £274k |
| ZOREYA TZEDOKOS | 1 | £182k |
| AHAVATH CHESSED CHARITABLE ASSOCIATION LIMITED | 1 | £58k |
| OLLINGHAM LIMITED | 1 | £36k |