REGISTERED CHARITY NUMBER: 1077574
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2025
for
THE WELLINGTON (LONDON) TRUST
Paul Kraus & Co Certified Accountants 44 Wargrave Avenue London N15 6UB
THE WELLINGTON (LONDON) TRUST
Contents of the Financial Statements for the Year Ended 31 March 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
THE WELLINGTON (LONDON) TRUST
Report of the Trustees
for the Year Ended 31 March 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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
Objectives and aims
The charitity's objective and its principal activity continue to be that of the promotion of orthodox jewish faith and the relief of poverty..
Significant activities
The charity received £363532 rental income and £114690 profit on sale of asset.
Public benefit
The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commision when reviewing the charity's aims and objectives and in planning future activities.
Grantmaking
Grants are made to charitable institutions and organisations which accord with objects of the Charity.
FINANCIAL REVIEW
Financial position
The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to institutions during the period from the income received from the investments.
Reserves policy
The charity does not maintain a reserve policy, as reserves are distribued when they become available, at the trustees discretion. The present level of funding is adequate to support the continuation of its objects and the trustees cosider the finanvial position of the charity to be satisfactory.
FUTURE PLANS
The trustees plan to maximise the level of income received whilst continuing to make distributions in accordance with their grant making policy and to ensure that the appropriate level of reserves is maintained.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity is controlled by its governing document, a deed of trust and constitues an unincorporated chaity.
Recruitment and appointment of new trustees
The trustees have no beneficial interestin the company as it is a company limited by guarantee and are chosen by agreement of trustees at an annual meeting. The choice is based on applicant's business and community knowledge.
New trustees are subject to trustee induction training which includes as understanding of the content of the governing document, their legal obligation under Charity Act,the organisational structure of charity and the recent financial performance of the charity.
Trustees are encouraged to attend appropriate external training events which enhance their performance of their role.
Risk management
The trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1077574
Page 1
THE WELLINGTON (LONDON) TRUST
Report of the Trustees
for the Year Ended 31 March 2025
Principal address
24 Overlea Road London E5 9BG
Trustees
S Ludmir Mrs H Ludmir I Glausius
Independent Examiner
Paul Kraus FCCA Paul Kraus & Co Certified Accountants 44 Wargrave Avenue London N15 6UB
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... I Glausius - Trustee
Page 2
Independent Examiner's Report to the Trustees of THE WELLINGTON (LONDON) TRUST
Independent examiner's report to the trustees of THE WELLINGTON (LONDON) TRUST
I report to the charity trustees on my examination of the accounts of THE WELLINGTON (LONDON) TRUST (the Trust) for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Paul Kraus FCCA
Paul Kraus & Co Certified Accountants 44 Wargrave Avenue London N15 6UB
7 May 2025
Page 3
THE WELLINGTON (LONDON) TRUST
Statement of Financial Activities
for the Year Ended 31 March 2025
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 3 Other income Total EXPENDITURE ON Charitable activities Donations made Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.25 Unrestricted funds £ - 375,480 114,689 490,169 763,550 238,596 1,002,146 (511,977) 2,306,493 1,794,516 |
31.3.24 Total funds £ 1 329,849 - |
|---|---|---|
| 329,850 | ||
| 48,156 235,943 |
||
| 284,099 | ||
| 45,751 2,260,742 |
||
| 2,306,493 |
The notes form part of these financial statements
Page 4
THE WELLINGTON (LONDON) TRUST
Balance Sheet 31 March 2025
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 9 NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
31.3.25 Unrestricted funds £ 2,656,519 513,227 (3,500) 509,727 3,166,246 (1,371,730) 1,794,516 1,794,516 1,794,516 |
31.3.24 Total funds £ 2,972,526 50,675 (2,500) 48,175 3,020,701 (714,208) 2,306,493 2,306,493 2,306,493 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. I Glausius - Trustee
The notes form part of these financial statements
Page 5
THE WELLINGTON (LONDON) TRUST
Notes to the Financial Statements for the Year Ended 31 March 2025
1. CHARITABLE DONATIONS
The Trustees have made donations totalling £763,550 .n the current year ..
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 6
continued...
THE WELLINGTON (LONDON) TRUST
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
3. INVESTMENT INCOME
| Rents received Interest receivable - trading |
31.3.25 £ 363,533 11,947 375,480 |
31.3.24 £ 329,849 - |
|---|---|---|
| 329,849 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 1 |
| Investment income | 329,849 |
| Total | 329,850 |
| EXPENDITURE ON | |
| Charitable activities | |
| Donations made | |
| 48,156 | |
| Other | 235,943 |
| Total | 284,099 |
| NET INCOME | 45,751 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 2,260,742 |
| TOTAL FUNDS CARRIED FORWARD | 2,306,493 |
continued...
Page 7
THE WELLINGTON (LONDON) TRUST
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
6. GRANTS TO INSTITUTIONS
Beis Rochel 21420 Chesed Shel Emess 20000 Bayit Lepletot 15000 Achiezer 10000 uta 5000 CML 16500 Bnos Yerushalim 20000 Eitz Chayim 295300 Hanover Trust 220000 Fundd 55000 Viznitz 6000 FO Yeshiva 5700 Ponovez 8000 Beis Yisroel 5000 Yesamach Lev 35000 Gateshead Talmudical 2500 Craven Walk Synagogue 5000 MIR 2500 Das Sholem Schotz 5000 Belz Inst 1000 Beis Aharon Trust 750 Rabbinical college 5000 Sundry donations 3880 ------------763,550 ========
7. TANGIBLE FIXED ASSETS
| COST At 1 April 2024 Additions Disposals At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 |
Freehold property £ 2,966,456 633,993 (950,000) 2,650,449 2,650,449 2,966,456 |
Fixtures & fittings £ 6,070 - - 6,070 6,070 6,070 |
Totals £ 2,972,526 633,993 (950,000) 2,656,519 2,656,519 2,972,526 |
|---|---|---|---|
continued...
Page 8
THE WELLINGTON (LONDON) TRUST
| Notes to the Financial Statements-continued for the Year Ended 31 March 2025 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN Bank loans (see note 10) Other creditors 10. LOANS An analysis of the maturity of loans is given below: Amounts falling due between two and five years: Bank loans - 2-5 years Government Loan 11. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
ONE YEAR At 1.4.24 £ 2,306,493 2,306,493 Incoming resources £ 490,169 490,169 |
31.3.25 £ 3,500 31.3.25 £ 12,234 1,359,496 1,371,730 31.3.25 £ - 12,234 12,234 Net movement in funds £ (511,977) (511,977) Resources expended £ (1,002,146) (1,002,146) |
|
|---|---|---|---|
continued...
Page 9
THE WELLINGTON (LONDON) TRUST
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.23 £ Unrestricted funds General fund 2,260,742 TOTAL FUNDS 2,260,742 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 329,850 TOTAL FUNDS 329,850 A current year 12 months and prior year 12 months combined position is as follows: At 1.4.23 £ Unrestricted funds General fund 2,260,742 TOTAL FUNDS 2,260,742 |
Net movement in funds £ 45,751 45,751 Resources expended £ (284,099) (284,099) Net movement in funds £ (466,226) (466,226) |
At 31.3.24 £ 2,306,493 2,306,493 Movement in funds £ 45,751 45,751 At 31.3.25 £ 1,794,516 1,794,516 |
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 820,019 820,019 |
Resources expended £ (1,286,245) (1,286,245) |
Movement in funds £ (466,226) (466,226) |
|---|---|---|---|
continued...
Page 10
THE WELLINGTON (LONDON) TRUST
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
Page 11
THE WELLINGTON (LONDON) TRUST
Detailed Statement of Financial Activities for the Year Ended 31 March 2025
| INCOME AND ENDOWMENTS Donations and legacies Gifts Investment income Rents received Interest receivable - trading Other income Gain on sale of tangible fixed assets Total incoming resources EXPENDITURE Charitable activities Grants to institutions Support costs Management Repairs & management Bank charges Bank loan interest Finance fees Governance costs Accountancy Professional fees Arrangement fees Total resources expended Net (expenditure)/income |
31.3.25 £ - 363,533 11,947 375,480 114,689 490,169 763,550 98,611 275 92,189 20,400 211,475 3,500 12,339 11,282 27,121 1,002,146 (511,977) |
31.3.24 £ 1 329,849 - |
|---|---|---|
| 329,849 - |
||
| 329,850 48,156 161,825 195 30,779 - |
||
| 192,799 2,500 40,644 - |
||
| 43,144 | ||
| 284,099 | ||
| 45,751 |
This page does not form part of the statutory financial statements
Page 12