Company registration number: 03334635 Charity registration number: 1064655 Dalaid (A company limited by guarantee) Unaudited Financial Statements for the Year Ended 31 March 2025 Hawsons Chartered Accountants Jubilee House 32 Duncan Close Moulton Park Northampton NN3 6WL
Trustees' Report Statement of Trustee's Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Dalaid Contents 1 10 3 4 5 6 7 8 to 11
Dalaid Trustee's Report for the year ended 31 March 2025 Reference and Administrative Details The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS102) in preparing the annual report and financial statements of the Charity registration number: 1064655 Company Registration Number: 03334635 Interim Manager: Ms V Henley Registered Office: Accountants: Penningtons Manches Cooper B1 Brooklands Clarendon road Cambridge Cambridgeshire CB2 8EE Hawsons Chartered Accountants Jubilee House 32 Duncan Close Bankers: Barclay Bank PLC Leicester LE87 2BB Page 1
Dalaid Trustee's Report for the year ended 31 March 2025 (continued) The Interim manager presents the annual report together with the financial statements of the charitable company for the year ended 31 March 2025. Objectives and activities Objects and aims The charity's objects are to "to relieve poverty and to advance education by the provision of educational assistance to Jewish individuals and organisations" Public benefit The charity has not been able to carry out any activities in pursuance of its objects during the financial year because it is the subject of a statutory inquiry to investigate potential misconduct and mismanagement in its administration. It is the Commission's policy to publish a report upon concluding an inquiry which details its findings, conclusions and any regulatory action taken. The inquiry has not yet been concluded and therefore no report has yet been published. The Interim Manager confirms that she has complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Financial review The Statement of Financial Activities shows a net deficit for the year of £53,530 (2024: a deficit of £18,638) and total funds carried forward of £2,171,255 (2024: £2,224,785). There were no restricted funds as at the year end. Policy on reserves In light of the ongoing Charity Commission enquiry, the Interim Manager has not introduced a reserves policy for this financial year. Principal funding sources The charity has not sought any funding during the year. Going concern During the year ended 31 March 2023, the trustees had become aware of a related NCA investigation and had been contacted by the Charity Commission. The trustees co-operated with both bodies. Trustees and officers The trustees and officers serving during the year and since the year end were as follows: Trustees: Mr A Balkin (resigned 26 July 2024) Mrs ND Levenson (resigned 26 July 2024) Mr M Levenson (resigned 26 July 2024) Interim Manager: Ms V Henley Secretary: Mrs N D Levenson (resigned 26 July 2024) Page 2
Dalaid Trustee's Report for the year ended 31 March 2025 (continued) Structure, governance and management Governing document and Management The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Charity is registered with the Charity Commission. Recruitment and appointment of trustees All of the Trustees were removed on 26 July 2024. The Board has the power to appoint additional trustees as it considers fit to do so. Related parties There were no related party transactions during the year (2024- None). Risk Management In view of the Charity Commission statutory inquiry the Interim Manager is working with the Charity Commission to protect the assets of the Charity. Small companies provision statement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report was approved by the Interim Manager of the charitable company on 3 November 2025 and signed on its behalf by: Virginia Henley Ms V Henley Interim Manager Page 3
Dalaid Statement of Trustee's Responsibilities The Trustees are responsible for preparing the trusteelnterim Manage's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies. Company law requires that financial statements are prepared for each financial year. The Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: • select suitable accounting policies and apply them consistently; • observe the methods and principles in the Charities SORP; • make judgements and estimates that are reasonable and prudent; • state whether applicable accounting standards, comprising FRS 102 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 charitable company will continue in business. In the absence of any directors, the Trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that. the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company 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 corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Page 4
Dalaid Independent Examiner's Report to the trustees of Dalaid I report to the charitable company's trustees on my examination of the accounts of the charitable company for the year ended 31 March 2025 which are set out on pages 6 to 11. Responsibilities and basis of report As the charitable company's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of Dalaid are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charitable company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act). In carrying out my examination I have followed the directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 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: 1. accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4. the accounts 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 accounts in accordance with the Financial Reporting Standard applicable in the ÜK 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 accounts to be reached. William Amos Hawsons Chartered Accountants Jubilee House 32 Duncan Close Moulton Park Northampton NN3 6WL 3 November 2025 Page 5
Incoming resources Donations and legacies Investment income Total incoming resources Resources expended Charitable activities Total expenditure Net outgoing resources Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward Dalaid Statement of Financial Activities for the Year Ended 31 March 2025 Unrestricted funds Note Restricted funds Total 2025 3 550 35,773 36,323 : 4 (89,853) (89,853) (53,530) (53,530) ".. : 9 2,224,785 2.171,255 550 35,773 36,323 (89,853) (89,853) (53,530) (53,530) 2.224,785 2.171,255 Total 2024 4,209 1,636 5,845 (24,483) (24,483) (18,638) (18,638) 2,243,423 2,224,785 The notes on pages 8 to 11 form an integral part of these financial statements. Page 6
Dalaid (Registration number: 03334635) Balance Sheet as at 31 March 2025 Unrestricted Restricted funds funds Note Total 2025 2023 € Current assets Cash at bank and in hand 7 Creditors: Amounts falling due within one year 8 Net assets 2,178,137 (6,882) 2.171.255 2,178,137 (6,882) 2.171,255 2,235,520 (10,735) 2,224,785 Charity funds Unrestricted income funds Unrestricted funds 2,171.255 : 2.171.255 Total charity funds 9 2,171,255 2,171,255 2.224,785 2,224,785 For the financial year ending 31 March 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Director's responsibilities: • The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476; and • The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The financial statements on pages 6 to 11 were approved by the Interim Manager, and authorised for issue on 3 November 2025 and signed on her behalf by: Virginia Henley Ms V Henley Interim Manager The notes on pages 8 to 11 form an integral part of these financial statements. Page 7
Dalaid Notes to the Financial Statements for the Year Ended 31 March 2025 1 Accounting policies The following accounting policies have been used consistently in dealing with items which are considered material to the charitable company's affairs. Statutory information Dalaid is a company (No. 03334635) and charity (No. 1064655) domiciled in England and Wales. The address of its registered office is: Penningtons Manches Cooper B1 Brooklands, Clarendon House, Clarendon Road, Cambridge, England, CB2 8EE. Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation Dalaid meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going concern The financial statements have been prepared on a going concern basis. Income and endowments All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Donations and legacies Donations are recognised when the charitable company has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charitable company before the charitable company is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charitable company and it is probable that these conditions will be fulfilled in the reporting period. Investment income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Charitable activities Charitable expenditure comprises those costs incurred by the charitable company in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Page 8
Dalaid Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 1 Accounting policies (continued) Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. The charitable company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charitable company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Fund structure Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charitable company. 2 Income from donations and legacies Donations from companies, trusts, and similar proceeds Donations from individuals Unrestricted fund € - 550 550 Total 2025 € - 550 550 Total 2024 € 2,742 1,467 4,209 3 Investment income Unrestricted fund € 35,773 Total 2025 € 35,773 Total 2024 1,636 Interest receivable 4 Expenditure on charitable activities Unrestricted fund 89,853 Total 2025 € 89,853 Total 2024 € 24,483 Allocated support costs 5 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charitable company during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 6 Staff costs There were no staff costs for the year end 31 March 2025 (2024: £Nil). Page 9
Dalaid Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 7 Cash and cash equivalents 2025 2,178.137 2024 2,235,520 Cash at bank 8 Creditors: amounts falling due within one year 2025 € 6,882 2024 10,735 Accruals 9 Funds Balance at 1 April 2024 Unrestricted funds Unrestricted fund 2.224,785 (As restated) Balance at 1 April 2023 Incoming resources 36,323 Incoming resources Unrestricted funds Unrestricted fund 2,243.423 5,845 Resources expended € (89,853) Resources expended € (24,483) Balance at 31 March 2025 € 2.171,255 Balance at 31 March 2024 2,224,785 Page 10
Dalaid Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 10 Analysis of net assets between funds Cash at bank and in hand Current liabilities Total net assets Unrestricted fund 2,178,137 (6,882) 2,171,255 Restricted fund € - Cash at bank and in hand Current liabilities Total net assets Unrestricted fund € 2,235,520 (10,735) 2.224,785 Restricted fund Total funds at 31 March 2025 € 2,178,137 (6,882) 2,171,255 Total funds at 31 March 2024 2,235,520 (10,735) 2.224,785 11 Related party transactions There were no related party transactions in the year or in the prior year. 12 Interim manager fees During the year, the charity was engaged with an interim manager to support operations and governance during a period of transition. Fees payable to the interim manager amounted to £78,050 (2024: £7,500). The interim manager was appointed on a temporary contract and is not considered a related party. Page 11
Dalaid Detailed Statement of Financial Activities for the Year Ended 31 March 2025 Total 2025 Total 2024 Donations and legacies Donations from individuals Donations from corporate sponsors Investment income Interest on cash deposits Charitable activities Accountancy fees Legal and professional fees Bank charges 550 550 35,773 35,773 (7,367) (82,380) (106) (89,853) 1,467 2,742 4,209 1,636 1,636 (5,985) (18,395) (103) (24,483) Net (deficit) / income (53,530) (18,638) This page does not form part of the statutory financial statements.