2025-03-31-accounts - The Tesler Foundation

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REGISTERED CHARITY NUMBER: 1030939

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

The Tesler Foundation

London Accounting Group Ltd

The Tesler Foundation

Contents of the Financial Statements for the Year Ended 31 March 2025

		Page
Report of the Trustees	1	to	3
Independent Examiner's Report		4
Statement of Financial Activities		5
Balance Sheet		6
Notes to the Financial Statements	7	to	11

The Tesler Foundation

Report of the Trustees for the Year Ended 31 March 2025

The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Charity is governed by a Deed of Trust dated 21st February 1992. The objects of the Trust are to advance education in and the religion of Orthodox Jewish Faith and for such other purposes as are recognised as charitable.

To achieve the objects, the Trust makes charitable donations to Jewish organisations and other charities.

Significant activities

There were no significant activities to be reported.

Public benefit

The trustees confirm their compliance with the duty to have regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.

Grantmaking

The Tesler Foundation has within its Deed of Trust the ability to make donations.

Volunteers

During the year,the charity did not have any volunteers to help with objective of the charity.

FINANCIAL REVIEW

Financial position

The trustees consider that the performance of the charity this year has been satisfactory . Funds from donors and from investment income have been granted to institutions.

Principal funding sources

The principal funding of The Tesler Foundation is from rentals from property investments.

Investment policy and objectives

Under the deed of trust, the charity has the power to make any investment which the trustees see fit.The trustees have considered the most appropiate policy for investing funds and have found that investments in property meets their requirements to generate both income and capital growth.

Reserves policy

The charity has a reserve policy in order that adequate funds are available for any repairs to properties which may occur in the future. All other available funds are distributed.

Going concern

The Trustees do not consider that there are any major risks to which the charity is exposed.

FUTURE PLANS

There are no significant future developments to report.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust dated 21st February 1992, and constitutes an unincorporated charity.

Charity constitution

To achieve the objects the Trust makes charitable donations to Jewish organisations and other charities.

Page 1

The Tesler Foundation

Report of the Trustees for the Year Ended 31 March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees

The trust has appointed trustees who have experience in field of Business administration, Accounting, and Property management.

Organisational structure

The Trustees meet at several times during the year, to consider which charities should receive their support. The statutory power of appointing new Trustees is vested in the continuing Trustees.

Decision making

Decisions regarding the running of the trust are agreed between the trustees.

Induction and training of new trustees

All new trustees are given, in the view of the board,sufficient training and have enough knowledge of their specific field to understand the nature of the charity and fully comply with the charities views.

New trustees undergo a briefing to ensure they are aware of both their legal and professional responsibilities under charity and trust law.

Key management remuneration

Payments totalling £4,344 were made to I Gabay whilst he was a trustee for management services. No other management payments have been paid.

Wider network

At present ,The Tesler Foundation does not consider itself part of a wider network.

Related parties

Full details of the Related Party Transactions during the year ended 31st March 2025 can be found in the notes in the Financial Statements.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1030939

Principal address

32 Green Walk London NW4 2AJ

Trustees

Mr M W Tesler I Gabay (resigned 7.5.25) B C Joseph S Tesler (appointed 7.5.25)

Independent Examiner

Frank Martin (FCA) London Accounting Group Ltd

Page 2

The Tesler Foundation

Report of the Trustees for the Year Ended 31 March 2025

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Mr M W Tesler - Trustee

Page 3

Independent Examiner's Report to the Trustees of The Tesler Foundation

Independent examiner's report to the trustees of The Tesler Foundation

I report to the charity trustees on my examination of the accounts of The Tesler Foundation (the Trust) for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

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:

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
the accounts 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.

Frank Martin (FCA)

London Accounting Group Ltd

Date: .............................................

Page 4

The Tesler Foundation

Statement of Financial Activities for the Year Ended 31 March 2025

Unrestricted Endowment fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 19,500 - Investment income 2 55,690 - Total 75,190 - EXPENDITURE ON Charitable activities Property Expenses 17,551 - Donations 58,057 - Other (15,457) - Total 60,151 - NET INCOME 15,039 - RECONCILIATION OF FUNDS Total funds brought forward 396,924 752,820 TOTAL FUNDS CARRIED FORWARD 411,963 752,820	31.3.25 Total funds £ 19,500 55,690 75,190 17,551 58,057 (15,457) 60,151 15,039 1,149,744 1,164,783	31.3.24 Total funds £ 6,500 43,910
		50,410
		16,686 25,500 4,619
		46,805
		3,605 1,146,139
		1,149,744

The notes form part of these financial statements

Page 5

The Tesler Foundation

Balance Sheet 31 March 2025

Unrestricted Endowment fund fund Notes £ £ FIXED ASSETS Investment property 6 356,000 720,000 CURRENT ASSETS Prepayments and accrued income 6,847 - Cash at bank 51,191 32,820 58,038 32,820 CREDITORS Amounts falling due within one year 7 (2,075) - NET CURRENT ASSETS 55,963 32,820 TOTAL ASSETS LESS CURRENT LIABILITIES 411,963 752,820 NET ASSETS 411,963 752,820 FUNDS 8 Unrestricted funds Endowment funds TOTAL FUNDS	31.3.25 Total funds £ 1,076,000 6,847 84,011 90,858 (2,075) 88,783 1,164,783 1,164,783 411,963 752,820 1,164,783	31.3.24 Total funds £ 1,076,000 7,347 69,419 76,766 (3,022) 73,744 1,149,744 1,149,744 396,924 752,820 1,149,744

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. M W Tesler - Trustee

The notes form part of these financial statements

Page 6

The Tesler Foundation

Notes to the Financial Statements for the Year Ended 31 March 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

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 as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Related party exemption

The charity has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

2. INVESTMENT INCOME

INVESTMENT INCOME
	31.3.25	31.3.24
	£	£
Rents received	55,690	43,910

continued...

Page 7

The Tesler Foundation

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

3. TRUSTEES' REMUNERATION AND BENEFITS

Managerial payments totalling £4,344 were made to I Gabay for managerial services whilst he was a trustee.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Endowment fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 6,500 - Investment income 43,910 - Total 50,410 - EXPENDITURE ON Charitable activities Property Expenses 16,686 - Donations 25,500 - Other 4,619 - Total 46,805 - NET INCOME 3,605 - RECONCILIATION OF FUNDS Total funds brought forward 393,319 752,820 TOTAL FUNDS CARRIED FORWARD 396,924 752,820 5. TANGIBLE FIXED ASSETS COST At 1 April 2024 and 31 March 2025 DEPRECIATION At 1 April 2024 and 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024	Total funds £ 6,500 43,910
	50,410
	16,686 25,500 4,619
	46,805
	3,605 1,146,139
	1,149,744
	Fixtures and fittings £ 647 647 - -

continued...

Page 8

The Tesler Foundation

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

£ 1,076,000	£ 1,076,000	£ 1,076,000
1,076,000
1,076,000
£ 30,000 150,000 175,000 721,000 1,076,000 31.3.24 £ 3,022 At 31/3/25 £ 411,963 752,820	£ 30,000 150,000 175,000 721,000
1,164,783
Movement in funds £ 15,039 15,039
		15,039

continued...

Page 9

The Tesler Foundation

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

8. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net movement At 1/4/23 in funds £ £ Unrestricted funds General fund 393,319 3,605 Endowment funds Permanent Endowment 752,820 - TOTAL FUNDS 1,146,139 3,605 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 50,410 (46,805) TOTAL FUNDS 50,410 (46,805) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1/4/23 in funds £ £ Unrestricted funds General fund 393,319 18,644 Endowment funds Permanent Endowment 752,820 - TOTAL FUNDS 1,146,139 18,644	At 31/3/24 £ 396,924 752,820
	1,149,744
	Movement in funds £ 3,605 3,605 At 31/3/25 £ 411,963 752,820
	1,164,783

continued...

Page 10

The Tesler Foundation

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

8. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	125,600	(106,956)	18,644
TOTAL FUNDS	125,600	(106,956)	18,644

9. RELATED PARTY DISCLOSURES

Managerial payments totalling £4,344 were made to I Gabay for managerial services whilst he was a trustee.

Page 11