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The J Isaacs Charitable Trust
Trustees, Annual Report and Financial statements
for the year ended
31 March 2024
Registered Charity No.. 1059865

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The J Isaacs Charitable Trust
Year ended 31 March 2024
Contents
Page No
Trustees, report
Statement of Trustees, Responsibilities and Trustees, Approval
Independent auditors. report to the Trustees
Statement of Financial Activities
io
Balance Sheet
li
Statement of Cash Flows
12
Notes to the Financial Statements
13-24

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The J Isaacs Charitable Trust
Reference and administrative information
Year ended 31 March 2024
Trustees
Jeremy Isaacs
Joanne Isaacs
Helen Eastick
Vincent Isaacs (Deceased September 20241
Jack Louis Isaacs
Ellie Maya Zakay
Bankers
HSBC Private Bank {UK) Limited
8 Cork Street.
London,
WIS 3LJ
Auditors
5affery LLP
10 Wellington Place
Leeds
LS14AP
Registered Office
Mutual House
70 Conduit Street
London
WIS 2GF
Registered Charity Number
1059865

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The J Isaacs Charitable Trust
Trustees, Report
Year ended 31 March 2024
Report of the Trustees for the year ended 31 March 2024
The Trustees presenttheir annual reporttogether with the financial statements for the year ended 31
March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in
Note I to the accounts and comply with the Charitys Trust deed, the Charities Act 2011 and
Accounting and Reporting by Charitie5- Statement of Recommended Practice applicable to Charitie5
preparing their accounts in accordance with the Financial Reporting Standard 102 applicable in the UK
and Republic of Ireland published in October 2019.
Objectives and activities for public benefit
The objectives of the Charity are set out in the Charit¢s trust deed and are summarised as follows:
The Charity strives to support causes that are in connection with the following-
Care for children
Education
Wellbeing for the elderly
Tolerance in our community
Healthcare
Our ob-ectives:
Our objectives are set to reflect our community aims. Each year our Trustees review our objectives
and activities to ensure continued support to those charities in our focused areas. The Trustees
recognise their duties under the Charities Act 2011 and have referred to the Charity Commission's
guidance on public benefit when reviewing the Charity's activities and compiling this report.
Strate
les-
We want to build the Trust through intelligent investments to secure capital for the future. The
Trustees continue to have a long-term strategy to supportthe needs in our community and to ensure
good growth in its capital investments.
Use of volunteers-
The Charity is dependent on thevoluntary work of the Trustees in administering its funds. Asthis work
has no tangible value this Is not recognised in the financial statements.

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The J Isaacs Charitable Trust
Trustees, Report (Continued)
Year ended 31 March 2024
Achievements and performance
The Trust ha5 continued to fulfil its main objective5 by-
Supporting charities involved in children's palliative care, improving healthcare services.
respite, and research, includinE Noah's Ark Children's Hospice.
Supporting charities offering education programmes for families in crises. linked to the cost-
of-living crisis.
Continuing support to charities that provide support and care for the vulnerable and elderly.
Supporting charities that provide security, assistance. and tolerance in the community.
Supporting charities and projects working towards the treatment of and care for cancer
patients.
The Trustees review donations and grants made throughout the year and constantly monitor this
against their community aims, this is discussed verbally at trustee meetings.
How our activities deliver public benefit:
Grant making
The Charity supports a wide range of activities by way of funding made available in pursuance of it5
charitable aims. The Charity receives many applications from a diverse range of charities, the Trustees
review these applications against the charity's supported causes and considers what value a donation
would add to the organisation in question.
The activities supported provide benefit to a wide selection of the community. In addition, in
determining the objectives for the year and planning the activities as set out in this report. the
Trustees have considered the Charity Commission's guidance on public benefit including the guidance
on grant making.
Financial review
Performance in the
ear
During the year, the charity received income totalling £492.430 12023: £424.9181. Donations and
grants of £300,229 12023: £833,924) were made during the year, of which £nil 12023.. £428,440)
related to restricted funds. Net gains on investments totalled £1,602.63312023: £299.971 net gain).
The overall surplus in the year was £1,680,299 {2023: deficit of £228.5841 of which £1,680,299 surplus
12023- £199,856 surplus) related to unrestricted funds.
Reserves
The Trustees have decided to support a number of charities and charitable purposes by making long-
term commitments to them which will be honoured over several years
for exa mple educational
scholarships, building projects and long-term research programmes.
In addition, the charity continues to look for investments that would yield positive returns for the
charity and therefore allow it to increase the number of charities it supports. The Trustees therefore
consider it prudent to hold a level of reserves to make these investments POS5ible.

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The J Isaacs Charitable Trust
Trustees, Report (Continued)
Year ended 31 March 2024
The Trustees keep the level of reserves under regular review and would release any reserves which
appear to be unnecessarily cautious. or excessive in relation to particular projects. The trustees are
currently undertaking a review of ongoing donation Strategy with a view to establishing a long term
programme for the trust.
In calculating the Charivs reserves. the Trustees have deducted from the total of unrestricted funds
of the Charity the value offixed asset investments. as shown in the accounts. This leaves free reseNes.
at 31 March 2024 of £1.103.71312023- £404,092). The Trustees believe this provides adequate free
reserves to cover operating costs and fvture commitments.
Princi
al fundin
sources
The Charity also has a significant investment portfolio which generates returns. The income received
during the year from investments was £492,430 {2023: £424,918) and net gain on investments of
£1,602,63312023'. £299.971 net gain).
The Charity reviews a significant number of requests for donations in order to determine those which
meet with its objectives and evaluates investments when opportunities arise in order to determine
those which provide secure returns.
Princi
al risks
The Trustees have not identified any significant risks associated with the activities of the Charity. The
performance of the investments has been identified as a moderate risk. However, the Trustees
consider that the Charity has diversified their range of investments to appropriately mitigate this risk.
Furthermore, the reserves are atan appropriate level to adequately covercommitments as they stand.
Fundraisin
activities
The Charity does not seek to fundraise externally and does not run any external fundraising campaigns
or publicity- They are not registered with the fundraising regulator. The Charity relies on fundraising
from the founders as detailed above.
Investment powers. policy and performance
The Trustees have the power at their absolute discretion to the extent that the Trustees shall have the
same powers in all respect as if they were absolute owners beneficially entitled. No specific policy is
followed otherthan to earn the market rate of return on monies invested. The Trustees consider how
investments are performing at each trustee meeting. The year end value of the investment portfolio
is stated in the notes to these accounts.
Plans for future periods
The Charity plans to continue tosupport a numberof existingcharities as detailed in the commitments
table in the notes to these accounts (Note 181. In addition, the Charity will consider donating to a new
charitable cause if the Trustees agree as to the benefrt of the donation and the relevance regarding
the aims of the Charity. The Charity will continue to support its work through a series of investments.
looking to build on those going forwards to develop a portfolio of income generating a55ets.

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The J Isaacs Charitable Trust
Trustees, Report (Continued)
Year ended 31 March 2024
Structurei government and management
The J Isaacs Charitable Trust is constituted as a charitable trust registered with the Charity Commission
in December 1996 under Charity number 1059865. It is governed by a deed of trust last updated on
23 October 1996.
The Charity Trustees are responsible for the general control and management of the Charity- The
Trustees by agreement make the decision concerning charities supported and any donations made.
The above criteria is a guide to these donations but donations are not restricted to this criteria.
Recruitment remuneration and a
ointment of Trustees-
There shall be at least three Trustees.
Future Trustees shall be appointed by a resolution of the Trustees. If for any reason Trustees cannot
be appointed in accordance with the foregoing provisions, the statutory power of appointing new or
additional Trustees shall be exercisable.
Induction and trainin
of Tru5tees'.
Following appointment. new Trustees are introduced to their new role and given copies of the trust
deed and a guide to the policies and procedure adopted by our Charity. A number of publications from
the Charity Commission are also provided including the guidance on charities and public benefit.
Trustees are aware that it is their responsibility to keep abreast of developments in relation to the
governance of Charities underthe Charities Att 2011.
Risk mana
ement:
In the opinion of the Trustees. the Charity is not exposed to any major risks. Exposure to market
fluctuations is considered a moderate risk but the charity continues to manage this by holding a
diversified portfolio in real estate. artwork and equities.

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The J Isaacs Charitable Trust
Statement of Trustees, Responsibilities and Trustees, Approval
Year ended 31 March 2024
Statement of Trustees, responsibilities
The Trustees are responsible for preparing the Trustees, Annual 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 Trustees to prepare financial
statements for each financial year which give a true and fairview of the state of affairs of the Charity
and of its incoming resources and application of resources of the Charity for that period. In preparing
these financial statements. the Trustees are required to-
selett suitable accounting policies and then apply them consistently-
observe the methods and principles in the Charities SORP IFRS102};
make judgements and estimates that are reasonable and prudent:
state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements: and
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 proper accounting records that disclose with reasonable
ccuracy at any time the financial position of the Charity and enable them to ensure that the financial
5tatement5 comply with the Charities Act 2011 applicable accounting regulation5 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 are responsible for the maintenance and integrity of the charity and financial
information included on the charity's website. Legislation in the United Kingdom governing the
preparation and dissemination of fin3nci31 statements may differ from legislation in other
jurisdictions.
30 lanuary 2025
This report was approved by the Trustees on ........................
Swjned by..
5BE7F832F9464B4
Trustee
Jeremy Isaacs
D￿u5￿jned by..
ÉILTh bsh(L
7F
B6F4CDAE14GG...
Helen Eastick

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The J Isaacs Charitable Trust
Independent auditors. report to the Trustees
Year ended 31 March 2024
Independent auditors, report to the Trustees
Opinion
We have audited the financial statements of Thej Isaacs Charitable Trust for the year ended 31 March
2024 which comprise Statement of Financial Activities. Balance Sheet, Statement of Cashflows, and
notes to the financial statements. including a summary of significant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards. including Financial Reporting Standard 102, the Financial Reporting Standard
applicable in the UK and Republic of Ireland (United Kingdom Generalty Accepted Accounting
Practice).
In our opinion the financial statements-
give a true and fair view of the state of the ChariW5 affair5 as at 31 March 2024 and of its
incoming resources and application of resources for the year then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice- and
have been prepared in accordance with the requirements of the Charities Att 2011.
Basis for opinion
We conducted our audit in accordance wwth International Standards on Auditing IUK} IISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the Auditorfs
responsibilities for the audit of the financial statements section of our report. We are independent of
the charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concern
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on the charity'5 ability
to continue as a going concern for a period of at least twelve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are
described in the relevant sections of this report.

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The J Isaacs Charitable Trust
Independent auditors. report to the Trustees (Continued)
Year ended 31 March 2024
Other information
The Trustees are responsible for the other information. The other information comprises the
information included in the annual report, other than the financial statements and our auditorfs report
thereon. Our opinion on the financial statements does not cover the other information and, except to
the extent otherwise explicitly stated in our report. we do not express any form of assurance
conclusion thereon.
Our responsibility is to read the other information and. in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained in the
course of the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether this gives
rise to a material misstatement in the financial statements themselves. If, based on the work we have
performed, we conclude that there is a material misstatement of this other information,. we are
required to report that fart.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities
(Accounts and Reports} Regulations 2C(J8 require us to report to you if, in our opinion-
the information given in the Trustees. Annual Report is inconsistent in any material respect
with the financial statements- or
the charity has not kept sufFicient accounting records; or
the financial statements are not in agreement with the accounting records and returns: or
we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Trustees. Responsibilities Statement set out on page 5. the Trustees are
responsible for the preparation of the financial statements and for being satisfied that they give a true
and fair view, and for such internal control as the Trustees determine is necessary to enable the
preparation of financial statements that are free from material misstatement, whether due to fraud
or error.
In preparing the financial statements. the Trustees are responsible for assessing the charit¢s ability
to continue as a going concern. disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to
cease operations, or have no realistic alternative but to do so.

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The J Isaacs Charitable Trust
Independent auditors. report to the Trustees (Continued)
Year ended 31 March 2024
Auditor< responsibilities for the audit of the finanual statements
We have been appointed as auditors under the Charities Act 2011 and report in accordance with
regulations made under that Act.
Our objettives are to obtain reasonable assurance aboLrt whether the financial statements as a whole
are free from material misstatement. whether due to fraud or error. and to issue an auditors, report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit condurted in accordance with ISAS (UK) will always detect a material misstatement when
it exists. Misstatements can arise from fraud or error and are considered material if, individually or in
the aggregate. they could reasonably be expected to influence the economic decisions of users taken
on the basis of these financial statements.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in
respect of irregularities, including fraud. The specrfic procedures for this engagement and the extent
to which these are capable of detetting irregularities, including fraud are detailed below.
Identifying and assessing risks related to irregularities:
We assessed the susceptibility of the charity's financial statements to material misstatement and how
fraud might occur, including through discussions with the Trustees. discussions within our audit team
planning meeting, updating our record of internal controls and ensuring these controls operated as
intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the
financial statements. We identified laws and regulations that are of significance in the context of the
charity by discussions with Trustees and updating our understanding of the sector in which the charity
operates.
Laws and regulations of direct significance in the context of the charity include the Charities Act 2011.
the Charities (Accounts and Reports) Regulations 2008 and guidance issued bythe Charity Commission
for England and Wales.
Audit response to risks identified-
We considered the extent of compliance with these laws and regulations as part of our audit
procedures on the related financial statement items including a review of financial statement
disclosures. We reviewed the charity's records of breaches of laws and regulations, minutes of
meetings and correspondence with relevant authorities to identify potential material mi5Statements
arising. We discussed the charity's policies and procedures for compliance with laws and regulations
with members of management responsible for compliance.
Duringthe planning meeting with the audit team. the engagement partner drew attention to the key
areas which might involve non-compliance with laws and regulations or fraud. We enquired of
management whethertheywere aware of any instances of non-compliance with laws and regulations
or knowledge of any actual. suspected. or alleged fraud. We addressed the risk of fraud through
management override of controls by testing the appropriateness of journal entries and identifying any
significant transactions that were unusual or outside the normal course of business. We assessed
whether judgements made in making accounting estimates Eave rise to a possible indication of
management bias. At the completion stage of the audit. the engagement partnerfs review included

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The J Isaacs Charitable Trust
Independent auditors. report to the Trustees (Continued)
Year ended 31 March 2024
ensuring that the team had approached their work with appropriate professional scepticism and thus
the capacity to identify non-compliance with laws and regulations and fraud.
There are inherent limitations in the audit procedures described above and the further removed non-
compliance with laws and regulations is from the events and transattions reflected in the financial
statements, the less likely we would become aware of it. Also, the risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud
may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or
through collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website
at.. www.frc.or
.uk
auditorsres
onsibilities. This description forms part of our auditorfs report.
Use of our report
This report is made solely to the charity's Trustees. as a body. in accordance with Part 4 of the
Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we
might state to the Trustees those matters we are required to state to them in an auditorfs report
and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than the charity and the Trustees as a body, for our audit work, for
this report, or for the opinions we have formed.
S.(WI LLe
Saffery LLP
Statutory Auditors
10 Wellington Place
Leeds
LSI 4AP
Date:
30 January 2025
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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The J Isaacs Charitable Trust
Statement of Financial Activities
Year ended 31 March 2024
Unrestricted
funds
Restricted
funds
Total funds
2024
Total funds
2023
Note
Income from:
Investments
Total income
492,430
492,430
492,430
492,430
424,918
424,918
Expenditure on:
Charitable activities
Investment management
costs
Total expenditure
323.359
323.359
852,516
91,405
414.764
91,405
414,764
100,957
953,473
Net income/llossesl prior to
gains and1055es on
investments
77.666
77,666
1528,5551
Net gains on investments
15
1.602.633
1.602,633
299,971
Net incomel{expenditure)
1,680.299
1,680,299
(228,584)
Transfers between funds
Net movement in funds
1,680.299
1,680,299
(228,584)
Reconciliation of funds
Total funds brought forward
16
14.902,356
14,902,356
15,130,940
Total funds carried forward
16
16,582,655
16,582,655
14,902,356
The notes on pages 13 to 24 form an integral part of these financial statements.
10

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The J Isaacs Charitable Trust
Balance Sheet
as at 31 March 2024
Note
2024
2023
Fixed assets
Investments
15,478,942
14,498,264
Total fixed assets
15,478.942
14,498,264
Current assets
Debtors
Cash at bank and in hand
177,729
1.065.118
280,558
1,192,394
Total current assets
1.242.847
1,472,952
Creditors- Amounts falling due within one year
io
1139,1341
1208,8601
Net current assets
1,103,713
1,264,092
Total assets less current liabilities
16.582,655
15,762,356
Creditors- Amounts falling due after one year
io
1860,CQOI
Net assets
16,582,655
14,902,356
Funds of the Charity:
Unrestrirted funds
16
16,582,655
14,902,356
Restricted funds
16
16,582,655
14,902,356
30 January 2025
The financial statements were approved by the Trustees on
their behalf by-
and signed on
Sign•d by.
5BE7F832F9464B4...
Jeremy Isaacs
Trustee
7FFB6F4CDfvE14C¢...
Helen Eastick
Trustee
The notes on pages 13 to 24 form an integral part of these financial statements.

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The J Isaacs Charitable Trust
Statement of Cash Flows
Year ended 31 March 2024
Note
2024
2023
Cash flows from operating activities
Net cash used in operating activities
14
1381,660)
1813,004)
Cash flows from investing activities
Purchase of investments
Proceeds on Sale
Investment income
Interest received
Net cash generated by investing activities
{59,3071
686.965
450,247
42,183
1.120,088
399.414
25,503
424,917
Cash inflowslloufflowsl from borrowing
Net cash generated by financing activities
{860,0001
(860,000)
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the
year
Change in cash and cash equivalents due to the
exchange rate movements
1121,5721
{388.0871
1,192,394
15,7041
1,523,750
56,731
Cash and cash equivalents at the end of the year
1.065,118
1,192,394
12

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The J Isaacs Charitable Trust
Notes to the Financial Statements
Year ended 31 March 2024
Accounting Policies
Basis of preparation and assessnient of 8oin8 concern
The accounts (financial statements) have been prepared under the historical cost convention with items
recognised at cost or transaction value unless otherwise stated in the relevant notelsl to these
accounts. The financial statements have been prepared in accordance with the Statement of
Recommended Practice.. Accounting and Reporting by Charitie5 preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I
January 20191 as amended by Bulletin l issued by the Charities Commission - {Charities SORP IFRS
10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the
Charities Act 2011.
The J Isaacs Charitable Trust meet the definition of a public benefit entity under FRS 102.
The Trustees consider that there are no material uncertainties about the Trust's ability to continue as a
going concern. The most significant areas of adjustment and key assumptions that affect items in the
accounts are in relation to the estimation of the liability from multi-year general commitments (see
Note 18 for more information) and the levels of investment return and the performance (see the
investment policy and performance and risk management sections of the Trustees Annual Report for
more information on how this is managed).
Funds strurture
The Trusts source of finance are segregated between restritted and unrestricted funds.
Restricted funds are funds such that the use of which is limited by donor imposed conditions. There are
currently no unrestrirted funds held by the Charity.
Unrestricted income funds comprise those funds which the Trustees are free to use for any purpose in
furtherance of the charitable objectives. Unrestricted funds include designated funds where the
Trustees, at their discretion. have set aside resources for a specific purpose.
Further details of each fund are disclosed in Note 17.
Income recognition
Income is received by way of donations and gifts and is included in full in the Statement of Financial
Activities when receivable. Donated assets are included at the value to the Charity Financial Activities
when receivable. Donated assets are included at the value to the Charity where this can be quantified
and a third party is bearing the cost. The value of the services provided by volunteers has not been
included in these amounts, except where the seNices provided are in the nature of professional services
where a fee would otherwise be charged, in which case the donated service is valued at their
chargeable rate.
Income from investments is included in the year in which it Is receivable.
Legacies are included when the Charity is advised by the personal representative of an estate that
payment will be made or properly transferred and the amount invofved can be quantified.

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The J Isaacs Charitable Trust
Notes to the Financial Statements {Continued)
Year ended 31 March 2024
Accounting policies {continued)
Expenditure recognition
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation
committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and
has been classified under headings that aggregate all costs related to the category.
Irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Allocation of support and governance costs
Support costs have been allocated between governance costs and other support costs.
Governance costs included those costs associated with meeting the constitutional and statutory
requirements of the Charity. and include its audit fees and costs linked to the strategic management of
the Charity including Trustee expense5 together with an apportionment of oveihead and support costs
as shown in Note 5.
Governance and support costs relating to charitable activities have been apportioned based on number
of donations.
The allocation of support and governance costs is analysed in Note 6.
Cost of raising funds
The costs of generating funds consist of investment management costs and certain legal fees.
Charitable activities
Costs of charitable attivities include donations made. governance costs and apportionment of support
costs as shown in Note 5.
Foreign Transactions
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange
ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the
rate of exchange ruling at the date of transaction. Exchange differences are charged to the Statement
of Financial Activities to arrive at the total funds balance.
14

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The J Isaacs Charitable Trust
Notes to the Financial Statements {Continued)
Year ended 31 March 2024
Accounting policies (continued)
Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and
losses on investments are calculated as the difference between sales proceeds and their opening
carrying value if acquired subsequent to the first day the financial year. Unrealised gains and losses are
calculated as the difference between the fair value at the year end and their carrying value. Realised
and unrealised investment gains and losses are combined in the Statement of Financial Activities.
Investments
Fixed Asset Investments are stated at market value which 15 at cost less provision for increase or
diminution in value. Where there are no readily ascertainable market values I nvestment assets are
stated at cost less impairment. Where a fair value has been previously obtained but no fair value is
available at the balance sheet date, the carrying amount at the last date the asset was reliably
measured is used as its deemed cost. Unrealised and realised gains and losses on investments are
recognised on the Statement of Financial Activities.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty
on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no
more than three months from the date of acquisition and that are readily convertible to known
amounts of cash with insignificant risk of change in value.
Financial Instruments
The Charity only enters into basic financial instruments transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties. loans to related parties and investments in non puttable ordinary shares.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there
is an enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
Creditors
Short term creditors are measured at the transaction price.

Docusign Envelope ID.. B71 EFB9>31 D￿159-AcD&DDA5C267E2EF
The J Isaacs Charitable Trust
Notes to the Financial Statements {Continued)
Year ended 31 March 2024
Related party transartions and Trustees. remuneration
The Charity held investment5 Wlth a carrying value of £1,264,64412023'. £1,048,044) in JRJ Partner 2 LP
and £4,193,83512023- £3,477,149) in JRJ Investor l LP. Mr Jeremy Isaacs has participating interests in the
limited partnerships.
Within the accounts is income receivable from Mr Jeremy Isaacs for the Charity's artwork. included
following professional advice. The prior year and current year income was paid during the current year.
The current year value of this within rental income is £25,00012023: £25.0001. Mr Jeremy Isaacs also pays
all insurance and security costs in relation to renting this painting.
16

Docusign Envelope ID.. B71 EFB9>31 D￿159-AcD&DDA5C267E2EF
The J Isaacs Charitable Trust
Notes to the Financial Statements {Continued)
Year ended 31 March 2024
Comparative SOFA
Unre5trirted
funds
Restricted
funds
Total funds
2023
Income from:
Investments
Total income
424,918
424.918
424,918
424.918
Expenditure on:
Charitable activities
Investment management costs
Total expenditure
424.076
100.957
525,033
428,440
852,516
100,957
953,473
428,440
Net Ilossesl/income prior to
gains and losses on investments
{1￿,115)
{428.440)
{528,5551
Net gains/llossesl on
investments
299.971
299.971
Net incomel{expenditure)
199,856
(428,440)
(228,584}
Transfers between funds
121.169)
21.169
Net movement in funds
178,687
(407,271)
(228,584}
Reconciliation of funds
Total funds brought forward
14.723,669
407,271
15,130,940
Total funds carried forward
14.902,356
14,902,356
17

Docusign Envelope ID.. B71 EFB9>31 D￿159-AcD&DDA5C267E2EF
The J Isaacs Charitable Trust
Notes to the Financial Statements {Continued)
Year ended 31 March 2024
Investment income
2024
2023
Investment income
Loan interest received
Bank interest received
Total
450,247
2.621
39.562
492,430
399.414
1.598
23.906
424,918
Analysis of charitable expenditure
The Charity undertakes its charitable activities through donations to institutions in furtherance of its
objectives.
Donations
activity
Support and
governance
Costs Inote 6)
Total
2024
Total
2023
Funded from unrestricted funds:
Care for children
Education
Tolerance in our community
Healthcare
Adhoclother
loo.000
74,629
30,000
30,000
65,6(K)
7.704
5.750
2.311
2.311
5.054
107,704
80.379
32.311
32.311
70,654
88,897
28,762
74,255
180,043
52,119
Funded from restricted funds-
Healthcare
Total
428,440
852,516
300,229
23,130
323,359
Included in donations are amounts above £30,tJ)O paid to the following charitable causes-
2024
2023
United Jewish15rael Appeal {unre5trictedl
Noah's Ark Children's Hospice {unrestrictedl
RSBC lunrestricted}
AWIS {unrestrictedl
Community Security Trust lunrestrictedl
University of Haifa lunrestrictedl
H J Stringer Irestricted}
48,990
107,750
50,000
49,834
loo.000
20,600
30,000
39.538
428,440
685,014
190,138
18

Docusign Envelope ID.. B71 EFB9>31 D￿159-AcD&DDA5C267E2EF
The J Isaacs Charitable Trust
Notes to the Financial Statements {Continued)
Year ended 31 March 2024
Allocation of govemance and support costs
Support Costs
2024
2023
Office costs
Bank charges
Total
893
178
152
1,045
11331
45
Governance costs
2024
2023
Audit and accountancy
Other professional fees
Total
17.374
4,711
22,085
17.210
1,337
18,547
The total governance and support cost attributable to charitable expenditure is attributed pro rata to the
number of donations awarded as shown in the table below. The Trustees have decided to meet all
governance costs from unrestricted funds.
2024
2023
Care for children
Education
Tolerance in our community
Healthcare
Adhoc/other
Total allocated
7,704
5,750
2,311
2,311
5.054
23,130
3.897
1,261
3.255
7,893
2.286
18,592
Internal accountanry and administration tasks are completed by two individuals within the trust. This
represents around 50 hours of work per year.
The cost to the trust of these hour5 is £Nil12023- £Nill. The service5 provided are minimal and the charity
is unable to measure the value of the services provided reliably and therefore no income is recognised in
respect of these gift of services.
Investment Costs
2024
2023
Interest on the bank loan
Property service charges
Total
22.259
69,146
91,405
36.845
64.112
100,957
19

Docusign Envelope ID.. B71 EFB9>31 D￿159-AcD&DDA5C267E2EF
The J Isaacs Charitable Trust
Notes to the Financial Statements {Continued)
Year ended 31 March 2024
Fixed asset investments
Investments at carrying value-
2024
2023
Fine Art
Investment property
Private equity funds- UK
Private equity funds- non-UK
Total
2.500.000
2,500,000
6,000,000
6,000,000
6,487,670
5,554,385
491,272
443,879
15,478,942 14.498,264
Fine Art is included at a market valuation of £2,500,0￿ and c05t £2,221,71412023- £2,500,000 and cost
£2,221,714) it was valued in May 2023 by Sothebrfs. an internationally renowned auctioneer.
The Trustees have sought advice from Belcor professional property consultants, and consider the open
market value of the properties to be £6,000,00012023: £6.OCKJ.OCM)l at the balance sheet date.
Investments of £5.458,48012023.. £4,525,194) have been valued based on the charity's proportionate
share of the net assets of the underlying company.
Investments of £1,520.46212023: £1.473.0701 have been valued at cost less impairment or. at deemed
cost where a fair value has been previously obtained but no fair value is available at the balance sheet
date.
All the Charity's investments are non-listed and are held to provide investment returns for the Charity.
2024
2023
Valuation as at 31 March 2023 and 31 March 2022
Surplus of valuation over cost
Cost as at 31 March 2023 and 31 March 2022
14,498,264
12,963,457)
11,534,807
14,255,024
12,720,217)
11,534.807
Movements during the year:
Additions
Transfer
Disposals/Redemptions
Cost as at 31 March 2024 and 31 March 2023
59.307
1686,9651
10,907,149
11,534,807
Surplus of valuation over cost
4,571,793
2,963,457
Valuation as at 31 March 2024 and 31 March 2023
15,478.942
14,498.264
20

Docusign Envelope ID.. B71 EFB9>31 D￿159-AcD&DDA5C267E2EF
The J Isaacs Charitable Trust
Notes to the Financial Statements {Continued)
Year ended 31 March 2024
Fixed asset investments {continued)
Investments held at the year end in excess of £l,000,(
2024
2023
JFU Investor l Limited Partnership
JRJ Partner 2 LP
Iproov Limited
Fine art
Investment property
Total
4,193.835
1,264,644
1,029,190
2,500,0(X)
6,000,0(XJ
14,987,669
3,477.149
1,048,044
1,029.190
2,500,000
6,000,000
14,054,383
Debtors
2024
2023
Other debtors
Prepayments and accrued income
Total
91,509
86.220
177,729
160,636
119,922
280,558
Other debtors includes £91,50912023: £87.5101 due after more than one year.
10 Creditors: Amounts falling due within one year
2024
2023
Accruals and deferred income
Other creditors
Total
129,534
9,600
139,134
199,060
9,8C()
208,860
Creditors: Amounts falling due after one year
2024
2023
Bank Loan
Total
860,000
860,000
The Handelsbanken loan was fully repaid as of 25, August 2023.
21

Docusign Envelope ID.. B71 EFB9>31 D￿159-AcD&DDA5C267E2EF
The J Isaacs Charitable Trust
Notes to the Financial Statements {Continued)
Year ended 31 March 2024
10 Creditors: Amounts falling due within one year (continued)
Deferred Income
2024
Deferred Income at l April 2023
Resources deferred in year
Amount released from prior year
Deferred Income at 31 March 2024
96,857
96,893
196,8571
96,893
The deferred income relates to rental income from the investment property.
11 Financial instruments
2024
2023
Financial assets
Financial assets measured at amortised cost/deemed cost
Financial assets measured at fair value
1.611,971
13,958,480
15.570.451
1,633,706
13,025,194
14,658,900
2024
2023
Financial liabilities
Financial liabilities measured at amortised cost
32,641
32.641
962,203
962,203
Financial assets measured at amortised cost comprise investments stated at cost/deemed cost and short
term debtors.
Financial assets measured at fair value comprise investments stated at fair value.
Financial liabilities measured at amortised cost comprise other short term creditors.
12 Analysis of stsff costs and remuneration of key management personnel
The average number of employees during the year was nil12023: nil}.
The total employment benefits of the key management personnel and Trustee were £nil12023: £nill.
There are no employees with benefit in excess of £60.00012023= £nill.
13 Auditors remuneration
The auditorfs remuneration can be analysed as follows:
2024
2023
Audit
Total
17.374
17,374
17,210
17,210
22

Docusign Envelope ID.. B71 EFB9>31 D￿159-AcD&DDA5C267E2EF
The J Isaacs Charitable Trust
Notes to the Financial Statements {Continued)
Year ended 31 March 2024
14 Reconciliation of net income/(expenditure) to net cash flow from operating artivities
2024
2023
Net movement in funds
1,680,299
1228,5841
Adjustments for:
Interest received
Investment income
Net fair value movements
Decrease/llncreasel in debtors
IDecreasel/lncrease in creditors
142,1831
1450,2471
{1,602,6331
102,830
169.7261
125,5031
1399,4141
1299,9711
104,438
36,030
Net cash used in operating artivities
1381,660)
(813,01)4)
15 Net gains/(losses) on investments
2024
2023
Foreign exchange gains/llossesl on conversion
Foreign exchange gains/llossesl on cash balances
Net realised and unrealised Ilosses)/ gains on fair value
movements
15,704)
18,9441
1.617,281
248,905
56,731
15.6651
1.602,633
299,971
16 Analysis of charitable funds
As l April
2023
Income
Expenditure
Investment
gains/
(losses)
Transfers
31 March
2024
Restricted funds
Unrestricted
funds
14.902.356
492.430
{414.764}
1,602.633
16,582,655
14,902,356
492.430
{414.764)
1,602,633
16,582,655
23

Docusign Envelope ID.. B71 EFB9>31 D￿159-AcD&DDA5C267E2EF
The J Isaacs Charitable Trust
Notes to the Financial Statements {Continued)
Year ended 31 March 2024
17 Analysis of net assets between funds
Fund balances at 31 March 2024 are represented by-
Unrestrirted
funds
Restrirted
funds
Total funds
Fixed Assets
Current Assets
Current Liabilitie5
Non-current Liabilities
Total net assets
15,478,942
1.242,847
1139,134)
15,478,942
1,242.847
1139, 1341
16,582,655
16,582,655
Comparative information in respett of the preceding period is as follows:
Unrestrirted
funds
Restrirted
funds
Total funds
Fixed Assets
Current Assets
Current Liabilities
Non-current Liabilities
Total net assets
14,498,264
1,472,952
1208,860}
1860,000}
I4.￿2.356
14,498,264
1,472,952
1208,8601
1860,0001
14,902,356
18 General commitments
As at 31 March 2024 there are pledges to various charities which the Trustees intend to honour over the
next five years, which are summari5ed below-
Original
commitment
Commitment
brought
forward
Commitment
carried
forward
<lyr
>lyr
Activities in relation to:
CST 3 Year Pledge120211
Noah's Ark
JLC Jewish Leadership
Foundation
West London Synagogue
Mesila UK
£90.000
£300.0¢)0
£30.000
£30,000
£iOO,CKM)
£20,000
£10,000
£10,000
£30,000
£30.000
£20,000
£20,CM)O
£10,000
£10,000
£10,000
£10,000
24