Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
CHARITY REGISTRATION NUMBER: 1009754
Nasod Charitable Trust Unaudited Financial Statements
31 July 2025
COHEN ARNOLD
Chartered accountants New Burlington House 1075 Finchley Road London NW11 0PU
Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
Nasod Charitable Trust
Financial Statements
Year ended 31 July 2025
| Pages | |
|---|---|
| Trustees' annual report | 1 to 4 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 to 13 |
Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
Nasod Charitable Trust Trustees' Annual Report
Year ended 31 July 2025
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 July 2025.
Reference and administrative details
Registered charity name Nasod Charitable Trust Charity registration number 1009754 Principal office New Burlington House 1075 Finchley Road London NW11 0PU The trustees Jacob Frenkel Chaim Freund Jechial Weiser (Retired 16 April 2025) Accountants Cohen Arnold Chartered accountants New Burlington House 1075 Finchley Road London NW11 0PU
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Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
Nasod Charitable Trust
Trustees' Annual Report (continued)
Year ended 31 July 2025
Structure, governance and management
Governing document
The organisation is governed by a Trust Deed dated 11th February 1992.
Appointment, Training and Recruitment of Trustees
The organisation is run by the trustees who all act in an honorary capacity. All trustees give their time voluntarily and no benefit or expenses were paid to them in the year.
New trustees are appointed by the settlor or by a resolution of the trustees recorded in the minutes and signed by the new trustee.
None of the trustees have any beneficial interest in the charity.
Risk Management
The trustees have identified and reviewed the major risks to which the Trust is exposed, in particular those related to the operations and finance of the Trust, and are satisfied that systems are in place to mitigate those risks.
Financial risk management and policies
The charity holds or issue financial instruments in order to achieve three main objectives being:
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a) to finance its operations
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b) to manage its exposure to interest and currency risks arising from operations and from its sources of finance; and
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c) for generating funds.
In addition various financial instruments (e.g. trade debtors, trade creditors, accruals and prepayments) arise directly from the charity's operations.
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 the maximum credit exposure in the event other parties fail to perform their obligations under the financial instruments.
It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
Grant making policy
The charity accepts applications for grants from representatives of various charities, which are reviewed by the trustees on a regular basis.
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Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
Nasod Charitable Trust
Trustees' Annual Report (continued)
Year ended 31 July 2025
Objectives and activities
Charitable objects
The charity was established:
for the advancement and furtherance and promotion of the Jewish religion all over the world by all legal means in all of its religious aspects and in particular in connection with the Jewish religious sect known generally as the 'Satmar Chassidim'.
to advance and promote orthodox Jewish religious education in any part of the world in accordance with the doctrines of the Jewish faith.
- for the relief of poverty.
Aims, objectives and activities for public benefit
The trustees confirm that they have referred to the guidance contained in the Charity's Commission's general guidance on public benefit when reviewing the charity's aim and objectives and in planning future activities and setting the grant making policy for the year.
The charity was set up to support the activities of religious Jewish organisations especially in the field of education and to provide philanthropic aid to the Jewish needy. All donations are made to these organisations providing a sound religious education in accordance with the doctrines of traditional Judaism or to institutions set up to provide aid to the Jewish needy. In doing so, the charity has complied with its duty to act for the public benefit in accordance with section 4 of the Charities Act 2006.
These organisations and institutions are regularly supported by Nasod Charitable Trust are growing and thus there is a continual call for funding.
Achievements and performance
The charity relies on its investment properties for income. Investment income increased this year totalling £377,708 (2024: £295,311) with net rental income being £305,223 (2024: £237,817).
During the year the charity continued its activities and maintained its support of religious educational and other charitable institutions in Great Britain. £305,165 of charitable donations were made in the year (2024: £221,839).
Financial review
The charitable donations paid during the year were £305,165 (2024: £221,839). The charity ran at a small deficit this year of £1,382 (2024: £20,342 surplus).
The charity has total free reserves of £58,030 and total reserves of £2,808,030 (2024: £2,809,412).
Investments powers and policy
Under the trust deeds, the charity has the power to make any investment which the trustees see fit provided any moneys are not immediately required for use in connection with any of its objects.
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Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
Nasod Charitable Trust
Trustees' Annual Report (continued)
Year ended 31 July 2025
Financial review (continued)
Reserves Policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year.
The charity had total free reserves of £58,030 at the year end.
Plans for future periods
The charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory incoming resources.
Trustees' responsibilities statement
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' annual report was approved on 23 February 2026 and signed on behalf of the board of trustees by:
Jacob Frenkel Trustee
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Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
Nasod Charitable Trust
Independent Examiner's Report to the Trustees of Nasod Charitable Trust
Year ended 31 July 2025
I report to the trustees on my examination of the financial statements of Nasod Charitable Trust ('the charity') for the year ended 31 July 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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 material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Moshe Broner-Cohen FCA Independent Examiner
New Burlington House 1075 Finchley Road London NW11 0PU
23 February 2026
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Nasod Charitable Trust
Statement of Financial Activities
Year ended 31 July 2025
| 2025 | 2025 | 2024 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Investment income | 4 | 377,708 | 377,708 | 295,311 |
|
|
|
||
| Total income | 377,708 | 377,708 | 295,311 | |
|
|
|
||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Investment management costs | 5 | (72,485) | (72,485) | (57,494) |
| Expenditure on charitable activities | 6,7 | (306,605) | (306,605) | (225,799) |
|
|
|
||
| Total expenditure | (379,090) | (379,090) | (283,293) | |
|
|
|
||
|
|
|
||
| Net (expenditure)/income | (1,382) | (1,382) | 12,018 | |
|
|
|
||
| Other recognised gains and losses | ||||
| Fair value movements | – | – | 8,324 | |
|
|
|
||
| Net movement in funds | (1,382) | (1,382) | 20,342 | |
| Reconciliation of funds | ||||
| Total funds brought forward | 2,809,412 | 2,809,412 | 2,789,070 | |
|
|
|
||
| Total funds carried forward | 2,808,030 | 2,808,030 | 2,809,412 | |
|
|
|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 13 form part of these financial statements.
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Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
Nasod Charitable Trust
Statement of Financial Position
31 July 2025
| 31 July 2025 | 31 July 2025 | |||
|---|---|---|---|---|
| 2025 | 2024 | |||
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Investments | 13 | 2,750,000 | 2,750,000 | |
| Current assets | ||||
| Debtors | 14 | 136,687 | 111,403 | |
| Creditors: amounts falling due within one year | 15 | (78,657) | (51,991) | |
| | | |||
| Net current assets | 58,030 | 59,412 | ||
| | | |||
| Total assets less current liabilities | 2,808,030 | 2,809,412 | ||
| | | |||
| Net assets | 2,808,030 | 2,809,412 | ||
| | | |||
| Funds of the charity | ||||
| Unrestricted funds | 2,808,030 | 2,809,412 | ||
| | | |||
| Total charity funds | 16 | 2,808,030 |
2,809,412 |
These financial statements were approved by the board of trustees and authorised for issue on 23 February 2026, and are signed on behalf of the board by:
Jacob Frenkel Trustee
The notes on pages 8 to 13 form part of these financial statements.
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Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
Nasod Charitable Trust
Notes to the Financial Statements
Year ended 31 July 2025
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is New Burlington House, 1075 Finchley Road, London, NW11 OPU.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There were no material judgements, estimates and assumptions that affected the amounts reported in the year other than those mentioned below.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
Nasod Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 July 2025
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
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Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
Nasod Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 July 2025
3. Accounting policies (continued)
Investment property
Investment properties are recognised initially at cost, which includes purchase price and any directly attributable expenditure.
Subsequent to initial recognition -
i. Any gains or losses arising from changes in the fair value are recognised in income or expenditure in the period that they arise; and
ii. No depreciation is provided in respect of investment properties applying the fair value model.
Properties held for investment have been valued at 31st July 2025 by the Trustees who are considered to have the experience and expertise required to undertake such an exercise.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
4. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Rent and insurance receivable | 377,708 | 377,708 | 295,311 | 295,311 | |
|
|
|
|
||
| 5. | Investment management costs | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Property expenditure and management | 72,485 |
72,485 |
57,494 |
57,494 |
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Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
Nasod Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 July 2025
6. Expenditure on charitable activities by fund type
| 6. | Expenditure on charitable activities | by fund type | |||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Donations made | 305,165 | 305,165 | 221,839 | 221,839 | |
| Support costs | 1,440 | 1,440 | 3,960 | 3,960 | |
|
|
|
|
||
| 306,605 | 306,605 | 225,799 | 225,799 | ||
|
|
|
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||
| 7. | Expenditure on charitable activities | by activity type | |||
| Grant funding | Total funds | Total fund | |||
| of activities | Support costs | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Donations made | 305,165 | – | 305,165 | 221,839 | |
| Governance costs | – | 1,440 | 1,440 | 3,960 | |
|
|
|
|
||
| 305,165 | 1,440 | 306,605 | 225,799 | ||
|
|
|
|
||
| 8. | Analysis of governance costs | ||||
| Accountancy | |||||
| fees | Total 2025 | Total 2024 | |||
| £ | £ | £ | |||
| Governance costs | 1,440 | 1,440 | 3,960 | ||
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|
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| 9. | Analysis of grants | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Grants to institutions | |||||
| Sharei Chesed (London) | – | 15,000 | |||
| Yizal Education Limited | 305,165 | 206,839 | |||
|
|
||||
| 305,165 | 221,839 | ||||
|
|
||||
| Total grants | 305,165 | 221,839 | |||
|
|
||||
| The grants made during the year were | for the following purposes: | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Advancement of the Jewish Religion | 305,165 | 206,839 | |||
| Relief of Poverty | – | 15,000 | |||
|
|
||||
| Total | 305,165 | 221,839 | |||
|
|
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Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
Nasod Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 July 2025
10. Independent examination fees
| Independent examination fees | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,440 |
3,960 |
11. Staff costs
The charity did not meet any individual expenses incurred by the trustees for services provided to the charity.
The average head count of employees during the year was Nil (2024: Nil).
No employee received employee benefits of more than £60,000 during the year (2024: Nil).
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
13. Investments
| Investments | |
|---|---|
| Investment | |
| properties | |
| £ | |
| Cost or valuation | |
| At 1 August 2024 and 31 July 2025 | 2,750,000 |
|
|
| Impairment | |
| At 1 August 2024 and 31 July 2025 | |
| Carrying amount | |
| At 31 July 2025 | 2,750,000 |
|
|
| At 31 July 2024 | 2,750,000 |
|
All investments shown above are held at valuation.
Investment properties
The Trustees have reviewed the valuation at 31 July 2025 and are of the opinion that the value has remained constant.
14. Debtors
| Debtors | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Trade debtors | 124,371 | 106,383 |
| Prepayments and accrued income | 12,316 | 5,020 |
|
|
|
| 136,687 | 111,403 | |
|
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Docusign Envelope ID: AE753CB7-FDDE-4F40-B2CC-AC99AEF1B922
Nasod Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 July 2025
15. Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Trade creditors | 76,017 | 48,151 |
| Accruals and deferred income | 2,640 | 3,840 |
|
|
|
78,657 |
51,991 |
16. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At 1 August | Gains and | At | |||
| 2024 | Income | Expenditure | losses | 31 July 2025 | |
| £ | £ | £ | £ | £ | |
| General funds | 2,809,412 | 377,708 | (379,090) | – | 2,808,030 |
|
|
|
|
|
|
| At 1 August | Gains and | At | |||
| 2023 | Income | Expenditure | losses | 31 July 2024 | |
| £ | £ | £ | £ | £ | |
| General funds | 2,789,070 | 295,311 | (283,293) | 8,324 | 2,809,412 |
|
|
|
|
|
|
| Analysis of net assets between funds | |||||
| Unrestricted | Total Funds | ||||
| Funds | 2025 | ||||
| £ | £ | ||||
| Tangible fixed assets | 2,750,000 | 2,750,000 | |||
| Current assets | 136,687 | 136,687 | |||
| Creditors less than 1 year | (78,657) | (78,657) | |||
|
|
||||
| Net assets | 2,808,030 | 2,808,030 | |||
|
|
||||
| Unrestricted | Total Funds | ||||
| Funds | 2024 | ||||
| £ | £ | ||||
| Tangible fixed assets | 2,750,000 | 2,750,000 | |||
| Current assets | 111,403 | 111,403 | |||
| Creditors less than 1 year | (51,991) | (51,991) | |||
|
|
||||
| Net assets | 2,809,412 | 2,809,412 | |||
|
|
17. Analysis of net assets between funds
18. Related parties
There were no related party transactions in the year (2024: £Nil).
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