Company registration number 03214634 (England and Wales) Charity registration number 1063793 (England and Wales)
CHASDEI EPHRAIM LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
CHASDEI EPHRAIM LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr A Sugarwhite |
|---|---|
| Mrs C Ingber | |
| Secretary | Mr A Sugarwhite |
| Charity number | 1063793 |
| Company number | 03214634 |
| Registered office | 2 Linthorpe Road |
| London | |
| N16 5RF | |
| Independent examiner | J Silver FCCA |
| 32 Castlewood Road | |
| London | |
| N16 6DW | |
| Bankers | Lloyds Bank PLC |
| 31-33 Holloway Road | |
| London N7 8JU |
CHASDEI EPHRAIM LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 10 |
CHASDEI EPHRAIM LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2025
The trustees present their annual report and financial statements for the year ended 30 June 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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
The charity's objects are the advancement of religion in accordance with the Orthodox Jewish faith, the relief of poverty, and such other purposes as are recognised by English law as charitable.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.
Achievements and performance
Significant activities and achievements against objectives
The charity received £63,773 in donations and gift aid during the year and £72,308 was paid out by way of grants and support costs. These grants were made in line with the stated objects of the charity and were for educational and relief of poverty purposes.
Financial review
The charity's statement of financial activities shows total free reserves of £6,449. The trustees are satisfied with the results for the year.
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level which will not impinge on its ability to support Charitable institutions.
Major risks
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 20 June 1996.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mr A Sugarwhite Mrs C Ingber
Recruitment and appointment of trustees
The power to appoint new trustees is vested in the current board. It is not the intention of the trustees of the charity to appoint any trustees. Should the situation change in the future, the trustees will apply suitable induction and training procedures. The trustees administer the day to day running of the charity. None of the trustees has any beneficial interest in the company.
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CHASDEI EPHRAIM LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
The trustees' report was approved by the Board of Trustees.
.............................. Mr A Sugarwhite Trustee Date: ............................................. Mar 24, 2026
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CHASDEI EPHRAIM LIMITED
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHASDEI EPHRAIM LIMITED
I report to the trustees on my examination of the financial statements of Chasdei Ephraim Limited (the charity) for the year ended 30 June 2025.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
I have completed my examination. I confirm that no 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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1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
J Silver FCCA Precision Ltd 32 Castlewood Road N16 6DW Date: ............................ Mar 23, 2026
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CHASDEI EPHRAIM LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 63,619 | 74,100 |
| Investments | 4 | 154 | - |
| Total income | 63,773 | 74,100 | |
| Expenditure on: | |||
| Charitable activities | 5 | 72,308 | 62,373 |
| Total expenditure | 72,308 | 62,373 | |
| Net income/(expenditure) and movement in funds | (8,535) | 11,727 | |
| Reconciliation of funds: | |||
| Fund balances at 1 July 2024 | 14,984 | 3,257 | |
| Fund balances at 30 June 2025 | 6,449 | 14,984 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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CHASDEI EPHRAIM LIMITED
BALANCE SHEET
AS AT 30 JUNE 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current assets | |||||
| Debtors | 12 | - | 15,720 | ||
| Cash at bank and in hand | 7,229 | 44 | |||
| 7,229 | 15,764 | ||||
| Creditors: amounts falling due within | 13 | ||||
| one year | (780) | (780) | |||
| Net current assets | 6,449 | 14,984 | |||
| The funds of the charity | |||||
| Unrestricted funds | 14 | 6,449 | 14,984 | ||
| 6,449 | 14,984 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on .........................
.............................. Mr A Sugarwhite Trustee
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CHASDEI EPHRAIM LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1 Accounting policies
Charity information
Chasdei Ephraim Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 2 Linthorpe Road, London, N16 5RF.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, based upon the continued financial support from the community. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Resources expended
Expenditure is recognised in the year which it incurs and includes irrecoverable VAT, which is reported as part of the expenditure to which it relates.
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CHASDEI EPHRAIM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
1 Accounting policies
(Continued)
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Donations and gifts | 63,619 | 74,100 |
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CHASDEI EPHRAIM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
3 Income from donations and legacies
(Continued)
| 4 | Income from investments | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Interest receivable | 154 | - |
5 Charitable activities
| Religious Education Advancement of Religion Relief of Poverty 2025 2025 2025 £ £ £ Grant funding of activities (see note 6) 3,925 1,675 65,100 Share of governance costs (see note 7) 1,608 - - 5,533 1,675 65,100 |
Total 2025 £ 70,700 1,608 72,308 |
Total 2024 £ 61,365 1,008 |
|---|---|---|
| 62,373 |
6 Grants payable
| Religious | Advancement |
Relief of | |
|---|---|---|---|
| Education | of Religion | Poverty | |
| 2025 | 2025 | 2025 | |
| £ | £ | £ | |
| Grants to institutions: | |||
| Yesamach Levav | - | - | 40,000 |
| Keren Nissuin Mislonim | - | - | 23,400 |
| British Friends of Yeshivas Shaarei Chochma | 2,750 | - | - |
| Other | 1,175 | 1,675 | 1,700 |
| 3,925 | 1,675 | 65,100 |
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CHASDEI EPHRAIM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
7 Support costs allocated to activities
| Governance costs Analysed between: Charitable activities 8 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements |
2025 £ 1,608 1,608 2025 £ 780 |
2024 £ 1,008 |
|---|---|---|
| 1,008 | ||
| 2024 £ 780 |
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10 Employees
The average monthly number of employees during the year was:
| The average monthly number of employees during the year was: | ||
|---|---|---|
| 2025 | 2024 | |
| Number | Number | |
| Total | - | - |
| There were no employees whose annual remuneration was more than £60,000. |
11 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
12 Debtors
| Amounts falling due within one year: Other debtors 13 Creditors: amounts falling due within one year Accruals and deferred income |
2025 £ - 2025 £ 780 |
2024 £ 15,720 |
|---|---|---|
| 2024 £ 780 |
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CHASDEI EPHRAIM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
14 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 July 2024 | Incoming | Resources | At 30 June | |
|---|---|---|---|---|
| resources | expended | 2025 | ||
| £ | £ | £ | £ | |
| General funds | 14,984 | 63,773 | (72,308) | 6,449 |
| Previous year: | At 1 July 2023 | Incoming | Resources | At 30 June |
| resources | expended | 2024 | ||
| £ | £ | £ | £ | |
| General funds | 3,257 | 74,100 | (62,373) | 14,984 |
15 Related party transactions
The charity received charitable donations of £54,175 (2024: £53,380) in total from one of the trustees of the charity. There were no other disclosable related party transactions during the year (2024 - none).
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