Registered Charity Number.. 1010657 THE CECIL ROSEN CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 THE CECIL ROSEN CHARITABLE TRUST CONTENTS Pages Reference and Administration Details Report of the Trustees Independent Examiner's report Statement of Financial Activities statement of Financial Posilion Notes to the Financial Slalemenls Redford & Co Limited Chartered Accountants Synergy House 4th Floor 114-118 Southampton Row London WC1B 5AA THE CECIL ROSEN CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED S APRIL 2024 REPORT OF THE TRUSTEES The Trustees, present their report and the financial statements ol the Charity for the year ended S April 2024. The accounts have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019. The accounts have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required lo provide a true and fair view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Finan¢ial Reporting Standard applicable in the UK and Rèpublic of Ireland IFRS 1021 issued in October 2019 rather than the Accounting and Reporting by Charities. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. STRUCTURE, GOVERNANCE AND MANAGEMENT Govèmlng documènt The Cecil Rosen Charitable trust is constituted by a Declaration of Trust dated 31st March 1992 and a supplementsl deed dated in 2017 and is a Registered Charity No. 1010657. Mathod of appolntm•nt of Trustèès The charity is organised such that new trustees are appointed by existing trustees. The trustees meet regularly lo review ils affairs, however, M S Voice acts as correspondent and manages the day lo day administration of the charity. OBJECTIVES AND ACTIVITIES Objectives and aims The charity's objects are the assistance and relief of the poor especially the aged, infirm or handicapped and lo support Jewish and other charities generally. The policies adopted in furtherance of the charity's objects are to raise in¢ome by renting out the charity's property and seeking donations and to distribute income by way ol donations to other charities sharing similar objectives. There has been no change in the policies during Ihe year. The Iruslees have paid due regard lo guidance issued by the Charty Commission in deciding what activities the charity should undertake. Public benefit statement The Charities Act 2011 requires all charities to meelthe legal requirementthal ils aims are for the public benefit. The Charity Commission in ils Charities and Public Benefit guid¥n¢e states that there are two key principles to be met in order to showthat an organisation's aims are forthe publi¢ benefit.. firstly, there must be 8n identifiable benefit or benefits and secondly, that the benefit must be to the public or a section of the public. The Trustees consider that they have complied with Section 17 of the Charities Act 2011 including guidance the 'Public benefit.. running a Charity IPB21'. ACHIEVEMENT AND PERFORMANCE Financial Review The charitable trust endeavors lo be a responsible landlord and lo deal ethically with ils lenanls. The trust's investments are three freehold shops, which were not fully let during the period. The attached financial statements show the charity has maintained satisfactory income and reserves during the year. THE CECIL ROSEN CHARITABLE TRUST REPORT OF THE TRUSTEES ICONTINUEDI FOR THE YEAR ENDED S APRIL 2024 The Charity h8$ made donations of £90 in the year12023= £30001. It is the policy of the ¢h8rity to hold sufficient monies on deposit to meet currènt and forèseeable donation commitmènts and to utilise the rèmaining funds on suitable property investment to produce a minimum return of 60k with first class covenants. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees are responsible for preparing the trustees. Annual Report and the financial statements in a￿tsrdance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charty law requires the trustees lo prepare financial statements for each financial year which give a true and fair view of the stste of affairs of the Charity and of the incoming resources and application of resour￿$, in¢luding the income and expttnditure of the charity for that year. In preparing those financial ststements, the trustees are required to= select suitsble accounting policies and then 8pply them consistently., observe the methods and principles in the Charity SORP., makè judgments and estimates that are reasonable and prudent., state whether applicable UK Accounts'ng Standards have been followed, subject to any material departures disclosed and explained in the financial slalements., and prepare the finanGial statements on the going Goncern basis unless Il is inappropriate to presume that the ¢harity will ¢ontinue to operate. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any lime the financial position of the charitable company and to enable them to ensure that the financial statements Gomply with the Charities Ad 2011, the applicable Charities IAGoounts 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. On beha￿ of the Board of Trustees Trustee Date.. 28/04126 Redford & Co Limited Chartered Accountants Synergy House 4th Floor 114-118 Southampton Row London WC1B 5AA 28/04/2026 THE CECIL ROSEN CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Total & Unrestricted Funds Total & Unrestricted Funds Notes INCOME Investment income 64,356 54,590 Totsl Incom& 64,356 54,590 EXPENDITURE Costs of raising funds Expenditure on charitable activities 22,182 15,140 20.238 12,765 Total expenditure 37,322 33,033 Net income and net movement in funds before gains and losses on investments 27,034 21.587 Nel Ilossesl on investments Net movement in funds for the year 27,034 21,587 Total funds at 6 April 2023 1,545,322 1,523,735 Total funds at 5 Aprll 2024 1,572,356 1,545,322 THE CECIL ROSEN CHARITABLE TRUST STATEMENT OF FINANCIAL POSITION AT 5 APRIL 2024 2024 2023 Notes FIXED ASSETS Invéstments 1.470,00(> 1,470,000 CURRENT ASSETS Debtors Cash at bank 9,474 128,253 137.727 16,144 91,025 107,169 CREDITORS Amounts falling due within one year 135,3711 131,8471 NET CURRENT ASSETS 102,356 75,322 TOTAL ASSETS LESS CURRENT LIABILITIES 1,572,356 1,545,322 Repre$¢nted by= FUNDS Unrestricted funds TOTAL FUNDS 1,572,356 1.572,356 1,545,322 1,545,322 Tru5tee'. Lisa Voice Date.. 28104126 THE CECIL ROSEN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies The principal accounting policies adopted and judgements in the preparation of the financial staternents are as follows.. 1.1 Basis of preparation of accounts The financial ststements have been prepared in accordan￿ with the Statement of Recommended Pr8CtIC8'. Accounting and Reporting by Chariti8s pr8paring their accounts in 8ccordanc8 Wlth th8 Financial Reporting Standard applicable in the UK and Republic tsf Ireland IFRS 10211ssued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019 The financial statements are prepared in sterting which is the functional currency of the Charity. The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially r8cogni5ed at historical cost or transaction value unless otherwis8 5t8ted in the r818vant accounting policy notes. The financial statements have been prepared on a going concern basis as the Board of Trustees consider there are no rnat8ri81 unc8rtainties 8XlSting that m8y cast significant doubt as to its ability to continue as a going COn￿r￿. 1.2 Incomlng resources Incorne is recognised when the ch8rity has entitlement to income, it is probable that the income will be r8ceiv8d and th8 amount can b8 tneasur8d r81iably. Rental incorne arising from operating leases on investsnent properties is accounted lor on a straight line basis over the lease terrn. Interest on funds held on deposit is include(f when receivable and the amount can be measure£l reliably by the charity.. this is normally upon notili¢alion of the interest paid or payable by the bank. 1.3 R850urces expended Expenditu￿ is recognised once there is a legal or constructive obligation to make a payment lo a third paty. it is probable that settlement will be required and the amount of the obligation can be measured r8li8bly. All 8xp8nditur8 is account8d for on an accruals basis. Expenditure is dassifi8d under the following activity headings. Costs of generating funds include costs in relation to the Maintenance of the investment properties and deriving r8ntal incorn8. Expenditu￿ on charitable activities comprises grants payable and associated costs incurred by the charity in the delivery of its activities and services. It includes ix)th costs that can be allocated directly to such acliviti8S and gov8rn8nc8 Costs necessary to support it. 1.4 Investments Investment properties are measured initially at cost and subsequently at fair value at the reporting date. Valuation at fair valLJe is made on an open market value b8sis by reference to mark8t evidence of transaction prices for Similar properties. Fair value adjustments are recogni5ed as gainsAosse5 on revaluation of fixed assets in the Statement of Finanaal Activities. THE CECIL ROSEN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 1.5 Flnanclal Instrumènts The charity has financial assets and liabilities of a kind that qualify as basic financial instruments which include trade and other receivables, trade and other payables and cash and bank balances. Basic financial instruments are initially recognised al transaction value and subsequently measured al their sgtuement valug. 1.6 Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. INVESTMENT INCOME 2024 2023 Rental income 64.356 64,356 54.590 54,590 COSTS OF RAISING FUNDS 2024 2023 Legal and professional Irrecoverable VAT Light, heat and rates Repairs and maintenance Bad debts 8,254 3,713 3,214 5,818 358 915 11,877 7,666 695 Insurance 20,238 EXPENDITURE ON CHARITABLE ACTIVITIES 2024 2023 Donation made Support costs (See note 51 90 15,050 15,140 3,000 9,965 12,765 SUPPORT COSTS 2024 2023 Governance costs.. Rates Accountancy lees Independent examination fees Bank charges 2,490 9,200 3,000 360 15,050 2,205 4,200 3,000 360 9,765 The investment properties were revalued in 2022 by Independent Chartered Surveyors. The trustees believe this value to remain materially correct at the year end. 1,505 4,052 1,861 3,300 13,750 7,379 31,847