**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: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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