Charity number: 1062822 Company number: 03363018
The Szilvay Foundation (A company limited by guarantee without share capital use of "Limited" exemption)
Report and Financial Statements
Year ended 31 August 2025
Contents
| Legal and administrative information | Page 1 |
|---|---|
| Report of the Trustees | Page 2 |
| Statement of Financial Activities | Page 3 |
| Balance Sheet | Page 4 |
| Notes to the accounts | Page 5 |
| Independent examiner's report | Page 11 |
The Szilvay Foundation Legal and administrative information
Page 1
Status
The organisation is a charitable company limited by guarantee without share capital use of "Limited" exemption, incorporated on 1 May 1997 and registered as a charity on 12 June 1997.
The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
Charity number: 1062822
Company number: 03363018
Directors and Trustees
M Balkwill (Director and Trustee)
M Kohler, Director and Trustee)
S L Mehta, (Director and Trustee) resigned 5 September 2025 M V Pellini, (Director and Trustee) appointed 1 February 2025
A Wislocki, (Director and Trustee)
C Wislocki, (Director and Trustee)
Chief executive
M Kohler
Registered office and operation address
29 Selwyn Road, New Malden, England, KT3 5AU
Bankers
CAFCash Limited, Kings Hill, West Malling. Kent, ME19 4TA
Accountants and independent examiners
Cole Price & Co, 258b High Street, Dorking, Surrey, RH4 1QT
The Szilvay Foundation Report of the Trustees Year ended 31 August 2025
Page 2
The Trustees present their report and the financial statements for the year ended 31 August 2025. The report also fulfils the requirements under the Companies Act of The Report Of The Directors.
Results
The net incoming resources for the year amounted in total to a surplus of £16,297, (2024, deficit £13,278) and are set out on page 3 of the accounts. Absorbed within the surplus for 2025 were bursaries awarded to students who might otherwise have been unable to take advantage of the facilities offered by the Szilvay Foundation. During the year these amounted to a value of £12,463, (2024 £10,615).
Advice and information
The Szilvay Foundation is a registered charity, No. 1062822.
Responsibilities of the directors
Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and the company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the directors should follow best practice and:
-
select suitable accounting policies and the apply them consistently,
-
make judgements and estimates that are reasonable and prudent, and,
-
prepare the financial statements on the going concern basis, under which it is appropriate to assume that the company will continue on that basis.
The directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the charity and the company and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
By order of the Board
M Kohler
17 March 2026
Page 3
The Szilvay Foundation Statement of Financial Activities Year ended 31 August 2025
| Notes Incoming resources 3 Fundraising activities Donations Investment income Total incoming resources Resources expended 4 Costs of fundraising activities Governance costs Other resources expended Total resources expended Gross transfers between funds Other recognised gains/(losses) Gains and losses on revaluation of fixed assets for the charity’s own use Gains and losses on investment assets Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward Net incoming/(outgoing) resources before other recognised gains/(losses) Net incoming (outgoing) resources before transfers |
Unrestricted funds £ 330,457 5,000 228 335,685 252,206 2,633 64,549 319,388 16,297 - 16,297 - - 16,297 56,356 72,653 |
Restricted income funds £ - - - - - - - - - - - - - - - - |
2025 £ 330,457 5,000 228 335,685 252,206 2,633 64,549 319,388 16,297 - 16,297 - - 16,297 56,356 72,653 |
2024 £ 378,599 4,559 183 383,341 326,909 3,157 66,553 396,619 (13,278) - (13,278) - - (13,278) 69,634 56,356 |
|---|---|---|---|---|
Page 4
The Szilvay Foundation Balance Sheet At 31 August 2025
| Notes Fixed assets Tangible fixed assets 9 Current assets Debtors 10 Cash at bank and in hand 11 Net current assets/(liabilities) Total assets less current liabilities Total net assets Funds of the Charity 12 Unrestricted funds Restricted income funds Total funds Creditors: amounts falling due within one year |
£ £ 1 1 102 99,819 99,921 (27,269) 72,652 72,653 72,653 67,653 5,000 72,653 2025 |
£ £ 1 1 21,505 37,426 58,931 (2,576) 56,355 56,356 56,356 51,356 5,000 56,356 2024 |
|---|---|---|
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Signed on behalf of all the Trustees on 17 March 2026
M Kohler (Trustee)
The Szilvay Foundation Notes to the accounts Year ended 31 August 2025
Page 5
1 Basis of preparation
- 1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance 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 (FRS 102) issued on 16 July 2014; and with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); and with the Charities Act 2011; and with the Companies Act 2006.
1.2 Reconciliation with previous Generally Accepted Accounting Practice
In preparing the accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items is required. In their opinion no restatement of comparative items is required.
2 Accounting policies
2.1 Incoming resources
2.1.1 Recognition of incoming resources
These are included in the Statement of Financial Activities (SoFA) when:
-
the charity becomes entitled to the resources;
-
the Trustees are virtually certain they will receive the resources; and
-
the monetary value can be measured with sufficient reliability.
2.1.2 Incoming resources with related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA without offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
2.1.3 Grants and donations
Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.
2.1.4 Tax reclaims on donations and gifts
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
2.1.5 Gifts in kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.
2.1.6 Donated services and facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
2.1.7 Volunteer help
The value of any voluntary help received is not included in the accounts but is described in the Trustees’ annual report.
2.1.8 Investment income
This is included in the accounts when receivable.
The Szilvay Foundation Notes to the accounts Year ended 31 August 2025
Page 6
2 Accounting policies (continued)
2.1.9 Investment gains and losses
This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
2.2 Expenditure and liabilities
2.2.1 Liability recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. The charity has creditors which are measured at settlement amounts less any trade discounts.
2.2.2 Governance costs
Include costs of the preparation and examination of statutory accounts, the costs of Trustee meetings and cost of any legal advice to Trustees on governance or constitutional matters.
2.2.3 Support Costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
2.2.4 Financial Instruments
The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.
2.3 Assets
2.3.1 Tangible fixed assets for use by charity
These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or a reasonable value on receipt. The depreciation rates and methods are disclosed in note 9.
2.3.2 Stocks and work in progress
These are valued at the lower of cost or market value.
2.3.3 Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
3 Analysis of incoming resources
| Notes Fundraising activities Fees receivable Total fundraising activities Donations Donations and gifts Tax reclaim on donations and gifts Total donations Investment income Bank interest received Total investment income Merchandising Grants Total incoming resources |
Unrestricted funds £ 330,457 330,457 5,000 - 5,000 228 228 - - 335,685 |
Restricted income funds £ - - - - - - |
2025 £ 330,457 330,457 5,000 - 5,000 228 228 - - 335,685 |
2024 £ 378,599 378,599 4,559 - 4,559 183 183 - - 383,341 |
|---|---|---|---|---|
Page 7
The Szilvay Foundation Notes to the accounts Year ended 31 August 2025
4 Analysis of resources expended
| Notes Cost of fundraising activities Teachers' and lecturers' fees Hall and room hire Advertising and promotion Other direct costs Total cost of fundraising activities Merchandising costs Purchases for resale Total merchandising costs Governance costs 6, 7 Accountancy Trustee expenses Compliance costs Total governance costs Other resources expended Staff costs 5 Administrative and secretarial fees Communications Travel and subsistence Bad debt provisions Sundry administrative expenses Insurance Bank charges Equipment repairs Depreciation Subscriptions Total other resources expended Total resources expended |
Unrestricted funds £ 208,357 41,227 583 2,039 252,206 - - 2,146 - 487 2,633 31,355 16,792 781 3,894 8,500 800 914 60 - - 1,452 64,549 319,389 |
Restricted income funds £ - - - - - |
2025 £ 208,357 41,227 583 2,039 252,206 - - 2,146 - 487 2,633 31,355 16,792 781 3,894 8,500 800 914 60 - - 1,452 64,549 319,389 |
2024 £ 269,221 54,667 3,021 - 326,909 - - 1,564 1,558 35 3,157 31,086 29,283 2,413 72 - - 869 120 880 1,530 300 66,553 396,619 |
|---|---|---|---|---|
The Szilvay Foundation Notes to the accounts Year ended 31 August 2025
Page 8
5 Staff costs and numbers
| Gross wages, salaries and benefits in kind Pension costs Average number of full-time equivalent employees in the year Analysis of employee numbers by sector Directors (unpaid) - fundraising Directors (unpaid) - administration Staff - administration Trustee expense payments Number of Trustees to whom expenses were paid Nature of the expenses: travel and subsistence costs for Trustee meetings Total amount paid Fees for examination or audit of the accounts Independent examiner’s or auditors' fees for reporting on the accounts Other fees paid to the independent examiner or auditor: accountancy services, payroll and advice |
2025 £ 29,830 1,524 31,355 2025 Number 7 3 3 1 7 2025 Number - 2025 £ - 2025 £ 300 1,846 2,146 |
2024 £ 29,453 1,633 31,086 2024 Number 6 3 2 1 6 2024 Number 6 2024 £ 1,558 2024 £ 225 1,339 1,564 |
|---|---|---|
6 Trustee expense payments
7 Fees for examination or audit of the accounts
8 Taxation
As a registered charity, the company is exempt from Corporation Tax on its charitable activities.
The Szilvay Foundation Notes to the accounts Year ended 31 August 2025
Page 9
| 9 Tangible fixed assets Cost or valuation: Balance brought forward Additions Balance carried forward Accumulated depreciation and impairment provisions : Basis Rate per annum Balance brought forward Charged in the year Balance carried forward Net book value: Balance carried forward Balance brought forward 10 Debtors Trade debtors Other debtors Prepayments and accrued income |
2025 2024 £ £ - 12,932 - 8,500 102 73 102 21,505 Amounts falling due within one year |
Plant & equipment Total £ £ 26,529 26,529 - - 26,529 26,529 Straight line 25% 26,528 26,528 - - 26,528 26,528 1 1 1 1 2025 2024 £ £ - - - - - - - - Amounts falling due after more than one year |
|---|---|---|
11 Creditors
| Trade creditors Other creditors Accruals and deferred income |
2025 2024 £ £ - 1,852 16,500 - 10,769 724 27,269 2,576 Amounts falling due within one year |
2025 2024 £ £ - - - - - - - - Amounts falling due after more than one year |
|---|---|---|
Other creditors relate to student deposits held.
Page 10
The Szilvay Foundation Notes to the accounts Year ended 31 August 2025
12 Movement of funds
| Unrestricted funds: General fund Restricted funds: Total funds: 13 Analysis of net assets between funds Fixed assets Net current assets Total net assets |
Fund balances brought forward £ 51,356 51,356 5,000 56,356 |
Incoming resources £ 335,685 335,685 - 335,685 Unrestricted funds £ 1 67,652 67,653 |
Resources expended £ (319,388) (319,388) - (319,388) Restricted income funds £ - 5,000 5,000 |
Fund balances carried forward £ 67,653 67,653 5,000 72,653 Total £ 1 72,652 72,653 |
|---|---|---|---|---|
Page 11 Page 11 Independent examiner'5 report to thé trustees ¢rf The Szilvay Foundation Charltsblé Company l*he Company. I report to the chanty trustees on my examinatton of the accounts of the Company for the year ended 31 August 2025. R•sponsibllities and basls of r•port As the chanty's trustees of the Company land also rts directors lor the purposes of company law} you are responsible for the preparatson of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 ACY). Having satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of the 2006 Act and are elMJible for iridependent examination, I report In respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l_ In carrying out my examination I have followed the DirectK)ns given by the Charity Commisson under secbon 14515) (b) of the 2011 Act. Ind•p•nd•nt •xamin•r's stat•m•nt Since the Company's gross income exceeded £250,000 your examiner must be a member of a boxly listed in section 145 of the 2011 Act. I confirm that l am qualtfied lo undertake Ihe examination because l am a member of the AssoCialn of Chartered CertifEd Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attenlion in connection with the examination giving me cause lo believe.. 1) accounb.ng records were not kept in respect of the Company as required by sect.on 386 of the 2006 Act, or 2) the accounts do nol accord wrth those records", 3) or the accounts do not comply with the accounling requirements of section 396 of the 2006 Act other than any requirement that the accounts gtve a 'true and fail view which i% rK)t a matter considered as part of an independent examination," or 4) the accounts have not been prepared in accordance wth the methods and principles of the Statement of Recommended Practice for accounting and reporb.ng by charikn.es applicable to chairties prepaTing their accounts in accordance with the Financial Repo.ng Standanl applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other mattefs in connection wilh the examinats.on to which attenb.on should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Sned.. Name.. Richard Price Association of Charted Certtfied Accountants Address. 258b High Street, Oorking, Surrey RH4 1QT Dale.. 17 March 2026