2024-03-31-accounts

REGISTERED CHARrrY NUMBER: 1077574 Pa￿ Kraus & Co Certified Accountants 44 Wawave Avenue London N15 6UB

on inancial Statemen Report of the Trustees Slatement of Financial Activities Balan¢e Sheet Notes to the Financial StatenKnts 6 to 11 Detailed Sithment of Financial Activities 12

The tru8tee8 present their report with the financiEI ststements of the charity for the year ended 31 March 2024. The ttv8tee8 have adopted the provisions of Accounting and Reporting by Charities; Statement of Recommended Prnctice applicable to charities preparing their accounts in a¢¢ordance with the Financial ReportiDg stat￿rd applicable in the UK and R¢public of Ircland (FRS 102) (efftctive l January 2019). OWECTIVESAND AcfiviTIES Objectlves and almy The charititys objective and its principal activity rA)ntinue to be that of the promotion of ortbodox jewish faith and the relief ol poverty.. SlgDlficant actfvltle8 The charity received £329849 as its investhient income during the year. Publlc beneflt The trustees confirn their compliance with the duty to have due regard to the public benefit guidallce publisbed by the Charlty Commi$ion when reviewing the charl￿S aims and obj¢¢tives and in planning fvtslle activitie Grantmaklng Grnnts ar¢ made to ¢haritsble institutions and or8ani5ations which accord with objects of the Charity. FINANCIAL REVIEW Ftnanelal poslllon The trustees Consider that the wfornwice of th¢ clwity this year bAs been most satisfactory. Substantial fimds have been granted to institutions during the period from the incorn¢ received from th¢ investments. Reserves pollcy The chority does not maintain a reserve policy a# reserves ore distribued when they become available. gt the t￿￿tee8 discretion. The present level of fimding is adequa to support the continuation of its objects and the trustees co3id¢r the fllwivial position ol th¢ Charity to be satisfactory. FUTURE PLANS The truste¢$ plan to maximise the level of income received whilst continuing to make distributions in accordance with their grant D￿kIrt8 policy and to ensure that the appropriate level of reserves is rnaintaiDCd. STRUCTURE, GOVERNANCE AND MANAGEMEiYr Governlng do¢ument The charity is controlled by its 8ov¢min8 documen( a deed of tn￿ and Constitutes an unincorpora*d charity. The charity is controlled by its governing thycumenL a deed of trust and constitues an unincorpoTated chiity. Recrufitment and appolntment of new trustees The trnstees have no beneficial interestin the company as it 18 a company limited by guarantee and are chosen by agreement ol trustees at an annual meeting. The choice 1$ ba8ed on applicaat's business and conwnunity koowledge. New 1ntss are subject to tntstce fftduction training which includes ￿ understanding of the content of the governing documen¢ their legal obligation under Cbarlty AcLthe organisational structure of charity and the recent fu￿]¢181 perforn￿nCe of the charity. Trustees are encouraged to attend appropriate external training events which enhance their perforni8nce of their role. Rlsk management The trustees have a duty to identify and review the risks to wbich the Charity is ¢xpos¢d and to ensure appropriate controls are in plac¢ to provide reasonable assnwan¢e against fraud and effor. REFERENCE AND ADIW41STRATIVE DETAILS Registered Cbarity number 1077574 Page I

Ended 31 March 2 Prlnclpal address 24 Ov¢rl¢a Road London E5 9BG TThstee$ S Luthir Mrs H Ludmir I Glausius Independent Examlner Paul Kraus FCCA Paul KTaus & Co Ccrtified Ac￿llntants 44 Wargrave Avenue London N156UB Approved by or<kr of the board of trustees on 13 May 2024 and signed on its behalf by: l Glausius- Trustee Pag¢ 2

ntste&8 of TRU IndepelldeDt eJamlner's report to the trustees ofTHE WELLThGfoN (LOM)ON) TRUST I ￿port to the ¢harity trustets on my eMmi￿on of the accounts of THE WELLINGTON (LONDON) TRUST (the Trust) for the year ended 31 M8rch 2024. Responsibillties 2nd basts of report As the charity trustces of the Trust you are Tespon&lJl¢ for th¢ preparation of the acLI)unts in accord￿ with the rawirements ol thc Charitiu Art 2011 Cth¢ Arf). I report in respect of my eLImi￿tiOn of the TTr￿ a¢¢ounts Carri￿ out under Section 145 of the Art and in ¢arying out m> examination I have follow￿ all applicable Directions given by Charity Comri￿ Section 145(5Xb) of the ACL Independent examin&$ statement Since your charity's gross income exceeded £250,1)(KJ your eXarnI￿ must be a member of a listed body. l confirni that l am qualifi¢d to und¢rtake th¢ ¢xaminthon because l am a member of the Association of Chartered Certified Accountanty which is one of the listed bodies. I have completed my ek2M]￿O￿ I confirm that no materid matters have come to my attention in connection with the accounting Tecords were not kept in r￿￿t of the Tnlst as required by secti￿ 130 of the ALK. or the accounts do not accord with records: or the a¢¢ounts do not comply with the applicable requI￿ents the forni and content of accounts set out in the awiti&S (Accounts and Rep￿) Regulatio￿ 2(M)8 other than any rcquiremffjt that the accounts give a true and fair view which is not a considatd as part of an indep￿dent eXaMi￿tIOn. I have no ¢oncenL8 aThl have L7)me across no othcr matt¢ts in with the examI￿On to whith attention should be drdwn in this rq)ort in order to enable a proper of th¢ aca)llnts to be Thche Paul Kraus FCCA Paul Kraus & Co Certified Acci)untants 44 Wargrave Avenue London N15 6UB 14 May 2024

GTO TRUST t f Financial Acti ' 31.3.24 31.3.23 Totsl funds Unr¢stricted INCOME AND ENDOWME￿ FROM Donations and legacies Investment inc<xne 329,849 298,362 Total 329,850 298,362 EXPENDITURE ON Charttable actlvldes Donations made 48.156 65.500 235,943 124.010 Total 284,099 189,510 NET INCOME 45,751 108,852 RECONCILIATION OF FUF4DS Total fun(ts brought forward 2260.742 2.151,890 TOTAL FUNDS CARRtED FORWARD 2306,493 2260.742 Page 4

31 31.3.24 Unrestricted funds 31.3.23 Total funds Notes FIXED ASSETS Tangible assets 2,972,526 2,972,526 Cash at bank 50,675 25.025 CRED￿oRs Amowits falling du¢ witbin one year {2,500) (2.401) NET CURRENT ASSETS 48,175 22,624 TOTAL ASSETS LESS CURRENT 3.020.701 2,995,150 CREDITORS Amounts falling due after more than year (714208) (734,408) NET ASSETS 2,306,493 2.260.742 Unr¢5tJicted funds 2J06.493 2260,742 TOTAL FUNDS 2,306,493 2260.742 The financial statements were approved by the Board of Trustees and authorised for issue on 13 May 2024 and were signed on its bebalf by: I Glausius- TTUSt¢e The notes forni part of these financial statements Page 5

GTON cial tstem CHAR￿ABLE DONATIONS The Trustees have made donations totslling £A8156 in the current year.. ACCOUNfiNG POLICIES Basks of preparlng the finanaal ststemeDts The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in &c￿rdanCe with the Clwities SORP (FRS 102) 'Accounting and Reporting by Charities: Ststement of Recommended Practic¢ applicable to charities preparing their accounts in ac¢oTdanrk with the Finan¢tai Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l Janu￿ 2019),. Financial Reporting Standard 102 Tr Financial Reporting Standard applicable in the UK and Republic of Ir¢l8nd' and th¢ Charities Act 2011. The fu￿￿la1 statements have Ixen prep￿￿ under the historical cost ¢onv¢ntion. Income All income is reco￿lsed in the Statement of Financial Activities once the charity has entitlenHJt to the funds, it is probable that the income will be received and the gmount can be measured reliably. Expendlture Liabilities are re￿gnISed as cxpmditure as soon as there is a le8al or constructive obligation committing the charity to that ¢xp¢nditure, it is probable that a transfer of ¢¢onomic benefits will be required in settlm¢nt and the amount of the obligati¢)n can be measured reliably. Expenditure is a¢¢ount¢d for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly ettributed to particular headin8S they have been allocated to activities on a basis consistent with th¢ usc of r¢sources. Grants offered subject to conditiQDS which have not been met at the year end date are noted 88 a conunitment but noi accrued as exFnditure. Tanglble fixed a88ets Depreciation is provided at the following annual rates in order lo write off each asset over its estimated useful lif Taxatlon The charity Is exempt from tsx on its ¢h8ritabl¢ activities. Fund 4fCOUDtlng Unrestricted funds Can be used in accordance with the Charitsble obje¢tives at the di8¢rtion of the thi￿. Restricted fund8 ¢8n only b¢ us¢d for porti¢ul8r re8tri¢t¢d purp08e8 within the objects of th¢ cbarity. Restriction8 aTi8e when spe¢ified by the donor or when funds are raised for partieular restricted purEM)ses. Furth¢r explanhtion of the nature and purpose of each fund is included in the notes to the financial ststements. Page 6 ontinued..

E WELLIN TON LO to the Financial 31.324 31.3.23 Rents Teceived 329,849 298,362 TRUSTEES, REMUNEK4TIOIY AND BEI¥EF175 There were no trustees, remunerntion or Oth￿ b¢n¢fits for the year ended 31 March 2024 nor for th¢ year ended 31 March 2023. Trustees, expenseB There w￿¢ no trustees, expen￿ paid for the yw ¢nd¢d 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR STATEMENf OF FINANCIAL AcfiviTIES Unrestricied funds INCOME AND ENDOWMENTS FROM Invesknent in¢ome 298,362 EXPENDITURE ON Charltable aetlvttles Donations D￿de 65,500 Other 124,010 Total 189,510 NET INCO￿ 108,852 RECONCILIATION OF FUNDS Total funds brought forward 2,151,890 TOTAL FUNDS CARRIED FORWARD 2.260.742 Page 7 ontinued..

TRusr r the Year End GRANTS TO INSTIT￿ONS Soro Schnirer Mercaz Belz Mifal Tzedoko Hanover Tn Ger Viznilz cha￿¢1 AatDn 3500 pi UTA 28(K) Yeshiva HOrOn￿ 1500 Tevini Belz Sundry 15(K) 15(M) 3856 48156 TAIYGIBLE FIXED ASSETS Freehold Fixtures & fittings Totals COST At l April 2023 and 31 March 2024 2.966,456 6.070 2.972.526 NET BOOKVALUE At 31 March 2024 2.966,456 6,070 2,972,526 At 31 March 2023 1966.456 6.070 2.971526 CREDITORS: AMOUNTS FALLING DUE WITHtN ONE YEAR 313.24 313.23 Ttade creditors Other creditors 2JOO 2.41J) 2500 2,40I Page 8 continued...

LONDO TrUST - conti r the Year Ended CREDrn)RS: AMOUNTS FALLINC DUE AFfER MORE THAN ONE YEAR 31.3.24 31.3.23 Bank loans (see note 10) Other creditors 362.623 351,585 429.718 304,690 714,208 734,408 io. LOANS An analysis of the matiwity of loans is given below: 31.3.24 31.3.23 Amounts falling du¢ between two and five years: Bank loans - 2-5 y¢ars Government Loa 340211 22,412 397.356 32J62 362.623 429.718 11. Net movement in fullds At 31.3.24 At 1.4.23 Unrestricted fund$ General fund 2260,742 45.751 2.306.493 TOTAL FUNDS 2,260,742 45,751 2,306.493 Net movement in fund8, in¢luded in the above are as follows: Incoming Resources expended Movement ill funds Unrestrietsd fund$ Gen¢ral fund 329,850 (284.099) 45,751 TOTAL FUNDS 329,850 (284,099) 45,751 Page 9 ¢ontinu¢d...

TRUST r the Year Ended 31 ii. MOVEMENT IN FUNDS- eontinued Comparnllves for nwv¢ment funds Nct movement in fimds At 1.422 31.3.23 Unrestrlcted funds General fund 1151.890 108.852 2,260.742 TOTAL FUNDS 2,151.8 108.852 2,260,742 Conuwative net movenKnt in fu￿ included in the aix)ve are as follows: Incoming Resources Movement in funds Unrestrfcted funds 298J62 (189510) 108.852 TOTAL FUNDS 298J62 (189510) 108.852 A cumt year 12 months ar￿ wior year 12 months combined ￿K￿ltiOn is &$ follows: Net movement in funds At 31.3.24 At 1.4.22 Unrestrieted fuDds General fimd 1151.890 154.603 2.306.493 TOTAL FUNDS 1151.890 154,603 2,306.493 A year 12 months and prior y￿r 12 months combined net movement in fund4 included in the above are as follows: Movement in funds Unre8trieted funds 628212 (473.609) 154,603 TOTAL FUNDS 628212 (473.6(V)) 154.603 Page 10 ntinu¢d...

the Fin - continu arch 2 12. RELATED PARTYDISCLOSURES There were no related paty transactions for the year ended 31 March 2024. Page 11

WELL TRUS ci l Activi 31.3.24 31.3.23 Donatlons and leg&£les Gifis Investment IDeome Rents received 329.849 298,362 Total Incomlng re8our¢ 329.850 298.362 Charltsble aclfvltles Grants to institution8 48,156 65,500 Support ¢oyts Management Repairs & Service clwges Bank charges Bank loan interest 161,825 195 30,779 79,497 210 24,418 192,799 104,125 Covernanee costs Accountancy Professional ftts 2JOO 2,400 17,485 43,144 19,885 Totsl resour￿$ ¢Apend 284,099 189,510 Net Income 45.751 108,852 This page does not forn] part of the stathtory financial ststements Page 12