CHARITY REGIST]L4TION NUMBER: 1082723 MENACHEM GENERAL CHARITABLE TRUST Unaudited Financial Statements For the year ended 31 March 2025 COHEN ARNOLD CHARTERED ACCOUNTANTS LONDON NWI I OPU
MENACHEM GENERAL CHARITABLE TRUST Financial Statements Year ended 31 March 2025 PAGES Trustees, Annual Report I to2 Independent examiner's report to the trustees Statement of Financial Activities Statement of Financial Position Notes to the Fiiiancial Statements 6t012
MENACHEM GENERAL CHARITABLE TRUST Trustees, Annual Report Ye<ir ended 31 March 2025 Tlie tl-LlStees preseiit tlieii- i-eport aiid the Linaudited fiiiaiicial stateiiients of tlie chai-ity for the year elided 31 Mai-ch 2025. Reference and administrative details Registered charity name Charity registration number Principal office Menachem General Cliaritable Trust 1082723 14 IB Upper Clapton Road London E5 9DB The Trustees Mr E Englandei" (Chairman) Mrs H Z Weiss Mr F Leichtag Ashei- Sternliclit FCA Cohen Ariiold Chartered accountaiits New Burlingtoii House 1075 Finchley Road LONDON NWI I OPU Independent Examiner Structurey governance aiid managemenl Governing Doeument Tlie cliarity is goveriied by a Trust Deed dated 14 Septeinber 2001. Appointment and Recruitment of Trustees The Trustees adiniiiister tlie day-to-day affaii-s of tlie cliarity. Every TrLlStee holds office iiiitil Iie/she sliall die or sl)all cease to liold office by virtlie of tlie Trust Deed. None of tlie trustees liave any beneficial Antei-est in the charity. Wliere tlierc is 2 requireinent for iiew Triistees, tliese would be ideiitified and appointed by the remainiiig TrLlStees. The Cliairman of the Ti'iistees would be respoiisible for the indiiction of aiiy new Trustce, wliich involve5 amiai-eiiess of a Ti'LlStee's respoiisibilities, the goveTiiiiig dociiiTJcnl: adiiiiiiistrative procediii'es, tlie li istory and pli ilosopliical approach of tlie Charity- A new Trustee would receive copies of tlie previous yeai-' s aiiiiual repoit and aLCOLlllts with detailed explaiiatioii thercof. Risk Management Tlie trustees have ideiititied aiid reviewed thc major i-isks to wliich the Cliai-ity is exposed: in particular tl)ose related io tlie opei-atioiis aiid finance of tlie Cliarity, and are satisfied tliat systeins are iii place to mitigate tliose risks. It is reconiiised tliat systems caT] only provide reasonable but not absolllte assiii-aiice iliat major risks have beeii adequately Inaiiaued.
MENACHEM GENERAL CHARJTABLE TRUST Trustees, Annual Report (LoiiliiiiiL'cl) Year ended 31 March 2025 Objectives an(1 activities Tlie Charity is establislied to furtlier those purposes botli iii tlie United Kiii(ydoin and abroad recognis¢d as cliaritable by Englisli Law. Piirsuaiit to the objects and having i-cgard to tlie guidance of the Cliarity Commission relating to Piiblic Beneflt, tlie Trustees made grants to religiolls, educational and organtsations for the relief of povety. Granl Making Policy The Trustees are approached for doiiations by a wide variety of charitable iiistitutions operating iii tlie United Kingdom aiid abroad. The Trustees considcr all requests wliicli they receive aiid make donations based on the level of fuiids available. Graiits and doijations iii tlie year totalled £47,500 (2024- £59,500). Financial review Income from donatiOT]s and investments aggregated £67,030. Total resources expended were £82,266 resulting in net expenditui-e (before net losses on iiivestmeiits) of £15,23 6. The Charity's Statemeiit of Finaiicial Activities shows a net deficit of £33,926 (2024-. £9,384 defictt) aiid total reserves of £1,586,699 (2024: £1,601,935). Tlie financial results of tlie Cliarity's activiti¢s for the year to 31 March 2025 are fully reflected in tlie attaclied Finaiicial Stateineiits together witli the Notes tliereon. Reserves Policy Tlie Reserves Pol icy of tlie Trustees Trs to maintaiii uiirestricted funds, wliich are the free reserves of the Cliarity, at a level tliey consider appropriate to the Charity's needs taking iiito account likely future requireinents. Plans for future periods The Ti-ustees plaii to contiiiue making distributions in accordance with tlieir grant-Inakin(y eiisui'e that tlie abil ity to geiiei'ate sufficieiit iiicome is inaiiitaiiied to achieve tliat eiid. policy and to Tlie trustees, aniiiial report was approved on 21 2016.. and signed 011 behalf of the board of trustees by. Iglaiider Trustee
MENACHEM GENERAL CHARITABLE TRUST Independent Examiner's Report to the Trustees of Menachem General Charitable Trust Year ended 31 March 2025 I report to the truslees on Iny examination of the finaiicial stateinents of Menachein General Charitable Trust ('tlie cliarity,) foi- tlie year elided 31 March 2025. RESPONSIBILITIES AI¥D BASIS OF REPORT As the trustces of the cliai-ity yoii are responsible for the preparatioii of tl)e fiJ)ancial staten]ents iii accordaiice witli Ilie reqii irements of the Charities Act 2011 ('tlie Act, ). I repori in respect of my exaininatioii of the charity's Fiiiancial stateinents carried out uiider section 145 of tlie 2011 Act and in cai-rying out my examination J Iiave followed all the applicable Directioiis given by tlie Charity Coillmissioii undcr sectioii 145(5)(b) of the Act. INDEPENDEINT EXAMINER'S STATEMENT I have completed Jny examinatioii. I confirm that no material Inatters have coine to my attentioii in coniiection with tlie exain ination giving in¢ cause to believe that in aiiy material resp¢¢t- accountiiig records were not kept in respect of the charity as required by section 130 of tlie tlie financial stateinents do not accord witli those records- or tli¢ fiiiaiicial stateineiits do not coinply with the applicable requirements coiicerning tlie fonTJ aiid conteiit of accoiiiits set out iii the Cliarities (Accoiints and Reports) Regulations 2008 other than any requii'ement that the accounts give a 'true and fail view which is not a mattel. oiisidered as part of an independeiit examiiiation. I have iio concerns and have come across no other matters iii connection with the examination to wliich atteiition shou Id be drawii in this i-eport in order to eiiable a proper understanding of the accouiits to be reaclied. Asher Stci-iilicht FCA Iiidependeiit exam iner COHEN ARNOLD Chailered accountants New Biirliiigton House 1075 Finchley Road LONDON NWI I OPU Date:
MENACHEM GENERAL CHARITABLE TRUST Statement of Financial Activities 31 March 2025 2025 Unreslricted fuiids Total funds 2024 Total fiinds Note Income and endowments liivestineiit iiicoine 67,030 67,030 64,657 Total income 67,030 67,030 64,657 Expenditure Expenditure on raising funds: Investment managemeiit costs Expeiiditui-e 011 cliaritable activities Total expenditure (33,583) (48,683) (82,266) (33,583) (48,683) (12,568) (60,634) (82,266) (73,202) Net loss on investments (18,690) (18,690) (839) Net expenditure and net movement in funds (33,926) (33,926) (9,384) Reconciliation of funds Total funds brouglit forward Total funds carried forward 1,601,935 1,601,935 1,611,319 1,568,009 1,568,009 1,601,935 The stateineiit of finaiicial activities includes all gains and losses recognised in tlie year, Al l iiicoiiie and expeiiditiire derive from continuing activities. The notes on pages 6 to 12 form part of these finincial statements.
MENACHEM GENEII4L CHARITABLE TRUST Statement of Financial Position 31 March 2025 2025 2024 Fixed assets Investments 14 1,511,178 1,529,868 Current assets Debtors Cash at bank and in hand 15 16?14 57,899 12,732 75,269 74,213 88,001 Creditors: amounts falling due within one year Net current assets 16 (17,382) (15,934) 56,831 1,568,009 1,568,009 72,067 Total assets less current liabilities 1,601,935 Net assets 1,601,935 Funds of the charity Unrestricted funds 1,568,009 1,568,009 1,601,935 1,601,935 Total eharity funds 17 These financial statements were approved by the board of trustees and authorised for issue on 2i.TrduAq.&26 and are signed on behalf of the board by: Mr E Englander Trustee The note5 on P¢ige$ 6 to 12 form part of these financial stateme1$.
MENACHEM GENERAL CHARITABLE TRUST Notes to the Financial St14 tements Year ended 31 March 2025 General informalion The ¢1i21-ity is registei-ed cliai-ity iii Enoland aiid Wales and is unii)coi-porated. Tlie address of tlie principal office is 141 B Upper Clapton Road, Loiidoii, E5 9DB. Statement of con)pliance These financial stateineiits liave been prepared in compliance witli FRS 102, 'Th¢ Financial Reporting Standard applicable in tlie UK and tl)e Republic of Irelaiid,, tlie Statement of Recommei)ded Practice applicable to charities preparin(y their accoiints in accordance with the Flnancial Reporting Staiidard applicable in the UK and Republic of Ireland (FRS 102) (Cliarities SORP (FRS 102)) and the Charities Act 2011. Aceounting policies Basis of preparation Tlie financial statemeiits have beeii prepared on the Iiistorical cost basis, as modified by the revaluation of certain financlal assets and liabilities and investmeiit properties measured at fair value tlirough incoine or expenditure. The financial stateinents are prepared in sterling, wliich is the fLlllCtional currer)¢y of the eiitity. Judgements and key sources of estimation uncertainty In the application of the cliarity's accoiiiitin y policies, tlie trustees arc required to make judgemeiits, estiinates aiid assuinptioiis abolit tlie carryiiig amouiits of assets and liabilities that are not readily apparent froni other sources. The estimates aiid associated assumptions are based on Iiistorical experieTkce and otlier factors that are considered to be relevant. Actual results may differ from these estiinates. The estiinates and undei-lyiiig assiimptions are reviewed oli ali ongoing basis. Revisioiis to accounting estimates al'e recognised iii tl)e period iii which the estiinate is revised if the revision affects only tliat period, or iii the pei-iod of the revisioii aiid future perlods if the revision affects botli current and future periods. Tlie valiiation of invcstinent properties is iiilierently subjective, dependiiig on maiiy faclot's, includin(T tlie ii)dividual iiature of each property, its locatioii aiid expected future net reiital valiies, market yields aiid coinparable market traiisactioiis. Tliei-efore, the valiialioiis are subject to a deoree of uncertainty and are made oli the basis of assuinptioiis wliicli Inay not prove to be accurate, particiilarly in periods of difficult market or econoin ic conditions. Income tax The charity is iiot liable to d irect taxatioii oli its incoine or gains, wlietlier Tealised or iiot, as it falls wttliin the varioiis exeniptioiis liable to registered charities. Accordinoly, tlie cliarity does not reco(ynise any defei-red tax l iabil ity 011 revaliiatioiis of iiivestiiieiits as no tax would be diie in the eveiit of a disposal as the cliarity would beiieflt from tli¢ relevaiit exemptions, as it will apply all fund5 for qLial ifyiiio charitable PLirposes.
MENACHEM GENERAL CHARITABLE TRUST Notes to the Financial Statements (eoiiliiiiied) Year ended 31 March 2025 Accounting policies (coniiiiiied) Investment Properties Investmeiit properties are properties which are held either to earli rental income or for capital appreciation or for botli. Iiivestiiient properties are recoonised iiiitially at cost. Subsequeiit to initial recogiiitioii (i) Iiivestment properties whose fair value cali be measiired reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in tlic fair value are r¢cogiiised in tlie iiicome aiid expenditure accoiint iii the period that they arise; and (li) No depreciatioii is provided in respect of investment properties applying the fair value Inodel. Investment property fair value is determined by the trustees based on Professional valuatioiis, their understaiiding of property market conditions and the specific properties concerned using a sales valuatioii approach, derived froin recent coirlpai-able traiisactions on the Jnarket, adjusted by applying discoiints to reflect status of occiipation and condition. Acquisitions and disposals of properties Acquisitions and disposals of properties are coiisidered to take place at the legal completion and al'e included in the financial statenieiits accordingly. Trade debtors The trustees use details of tlie age of trade debtors and the status of any disputes together witli exteriial evidence of tlie credit status of the counterparty iii making judgements concerning any need to iinpair tlie carryiiig values. Fund accounting General unrestricted funds coinprise the accuiTJulated surpliis or deficit OT] income and expenditure account. Tliey are available for use at the discretioii of the triistees iii fiiitherance of the general objectives of tlie cliarity. Restricted fiiiids are fuiids subject to specific restricted coiiditioiis imposed by donors. Tliere are no restricted fuiids as at the Balance Sheet date. Designated funds are funds wliicli have beeii set aside at th¢ discretion of the trustees for specific piirposes. There al-e no desigiiated fiiiids as at the Balance Slieet date. Incoming resources All iiicoming resources al'e irjcliided in the stateineiit of finaiicial activities wlien entitlement lias passed to tlie charity. it is probable that tlie ecoiioinic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of incoine- income froiT) donations or grants is recognised wlien there is evidence of entitlement to Ilie gift, receipt is probable and its amoiint can be Ineasured reliably. legacy income is recogii ised when receipt is pi-obable and eiititleineiit is established.
MENACHEM GENERAL CHARITABLE TRUST Notes to the Financial Statements (¢'OlJfflJllll'il) Year ended 31 March 2025 Accounting policies (coitliitiierf) Incoming resources (ConliJiu¢il) iiicome from doiiated goods is measured at the fair valiie of the IFoods iinless tliis is impractical to Ineasure reliably, iii wliicli case tlie value is dei'ived froin tlie cosl to tlie doiior or the estimated resale value. Doiiated facilities and services are recogiiised in the accounts when rcc¢ived if the valiie can be reliably measured. No ainounts -C included for the contribution of oeneral voluiiteers. incoine from contracts for the supply of services is recognised with tlie delivery of tlie contracted service. This is classified as unrestricted funds unless tliere 15 a contractual requirement for it to be spent oil a particular purpose and retiirned if unspent, in which case it may be regarded as restricted. R&sources expended Expenditure is recognis¢d on an accruals basis as a liability is incurred. Expenditure iiicludes any VAT which cannot be fully recovered, and is classified under headings of thc stateinent of finaiicial activities to which it relates: expenditure on raising fiiiids incliides the costs of all fuiidraising activities, events, non- cliaritable trading activities, aiid tlie sale of donated goods. expenditure on charitable activities includes all costs incurred by a cliarity in undertaking activities that fiirtlier its chariÉabl¢ aiins foi. tlie beiiefit of its beneficiaries, includiiig those support costs aiid costs relating to tlie governance of the charity apportioned to charitable activities. other expenditure includes all expenditUlE tliat is neither related to raising funds for tlie charity nor part of its expeiidilure oil charitable activities. All costs are allocated to expeiiditlire categories reflecting the use of th¢ I'esource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between tlie activities they coi)tribute to oil a r¢2soi)able, justifiable and consistent basis. Grants payable Tliese are only recogiiised in the accounts wl)eii a commitmeiit lias been inade and thei'e are no conditions to be inet relatiiig to the orant which I'einaiii in tlie control of the charity. Financial instruments A financial asset or il fiiiaiicial liability is i-ecognised only wheii the enlity becomes a party to tlie co]Jtractual provisions of the iiistniinenl. Basic finaiiclal insti-uinents are iiiitially recognised at the amount receivable or payable includiiig aiiy related transactioii costs, uii less tlie arrangeiiicnt coiistitutes a finaiiciiig transactioii. wlicre it is recooiiiscd at tlie preseiit valiie of tlie futui-e paymeiits discouiited at a Inarket rate of iiitere5t for a sim ilar debt iiistrliineiit. Ciirrent as.sets aiid current liabi lities al-e subsequeIiily Ineasurcd at tlie cash oi- otlier consideratioii expcctcd to be paid or receivcd and iiot d iSCOLiiiled. Debt instl-liinents are subsequeiitly iiieasiired at aiiiortised cost. Fiiiaiicial assets tliat al'e measured at cost or ainonised cost are reviewed foi. objective evideiice of iiiipaii'ineiit al tlie eiid of eacli reportiiio date. If tliere is objective evidei)ce of iinpairiT]eiil. ali iin pairiiieiit loss is i-ecogiiised iiiider tlie appropi-iate13eadiiig iii tlie stateineiit of fiiiaiicial activities iii wliicli tlie iiiitial oain was r¢co(yiiised.
MENACHEM GENERAL CHARITABLE TRUST Notes to the Financial Statements (conliiiiied) Year ended 31 March 2025 Accounting policies (coiiiiiiiiL?d) Any reversals of iinpairinent are recognised immediately, to tlie extent tliat tlie I'eversal does not result in a carrying amount of the financial asset that exceeds what tlie cariying ainoiiiit would liave been had tlie impairinejit not previously been recogiiised. nvestment ij]come Unrestricted Total Funds Unrestricted Total Fiiiids Fiinds 2025 Fuiids 2024 Income froln UK investment properties Intei'est receivable 65,302 1,728 67,030 65,302 1,728 62,508 2,149 64,657 62,508 2,149 67,030 64,657 Investment njanagement costs Unrestricted Total Funds Uiirestricted Total Funds Funds 2025 Fuiids 2024 Iiivestineiit property management costs 33,583 33,583 12,568 12,568 Expenditure on charitable activities by fund type Uiirestricted Total Funds Uiirestricted Total Fuiids Funds 2025 Fiiiids 2024 Donations Paid Support costs 47,500 1,183 48,683 47,500 1,183 59,500 1,134 59,500 1.134 48,683 60,634 60,634 Expenditure on charitable activities by activity type Grant funding of activities Support costs Total funds Total fuiids 2024 2023 Doiiatioiis Paid Governaiice costs 47,500 47,500 1,183 59,500 1,134 1.183 47,500 1.183 48,683 60,634
MENACHEM GENERAL CHARITABLE TRUST Notes to the Financial Statements (euiiftiiiiecl) Year ended 31 March 2025 Analysis of grants 2025 2024 Gr2nls to institutions Donations Paid 47,500 59,500 Total grants 47,500 59,500 All doiiations were made to charities whose objectives are in liiie witli the objectives of tlie charity. The composition of donations is sliown below. Yom Tov Graiits Chevras Mo'oz Ladol Other grants 20,000 18,000 9,500 £47,500 Net gains on investments Unrestricted Total Funds Unresti-icted Total Funds Funds 2025 Funds 2024 Loss oil revaluation of unlisted investment (18,690) (18,690) (18,690) (18,690) (839) (839) (839) (839) 10. Net income Net income is stated after cliarging: 2025 2024 Fees payable to the iiidependent exainiiier for: Iiidepeiideiit examination of the financial stateineiits 1,040 985 11. Staff costs No salaries or wages liave beeii paid to einployees diii-iiig tlie yeai.. No staff were employed by tlie cl)arity duriiio tlie repoitiiig pei'iod. io
MENACHEM GENERAL CHARITABLE TRUST Notes to the Financial Statements (coiiiiniigd) Year ended 31 March 2025 12. Trustee remuneration and expenses No salaries or wao¢s liave been paid to einployees, including ilie trustees, diirino tlie year. Tlie charity did not meet any iiidividual expeiises incurred by tlie trustees for services provided to tlie cliarity. 13. Investments Investinent Otlier properties iiivestments Total Valuation At l April 2024 Revaliiations 1,475,000 54,868 (18,690) 1,529,868 (18,690) At 31 Mareh 2025 1,475,000 36,178 1,511,178 Carrying amount At 31 March 2025 1,475,000 36,178 1,511,178 At 31 Marcli 2024 1,475,000 54,868 1,529,868 The cliarity's investinent properties were valued by tli¢ trustees at 31 Marcli 2025 based oli tlie trustees, iinderstaiiding of property market conditioiis aiid the specific propeities concerned, usiiig a sales valuatioii approach, derived from recent coinparable traiisaclioiis on tlie market, adjusted by applying discounts to reflect status of occupatioii and coiiditioii. b. The historical cost of the properties is £625,851 (2024-. £625,851). Tlie Tn]st Iiolds l 00 % of the Issiied Share Capital li) Caneprop Liinited, a propeity iiiveslinent company incorporated in Great Britain and registered iii Eiigland. The profit for tlie Financial Year aiid regat¢ Capital and Reserves of the Coinpany at 31 March 2025 were £7,620 and £36,178 respectively. Th¢ fair value at 31 March 2025 of the Investmeiits in uiiquoted Coinpaiiies is based on tlie underlying valiie of assets less liabilities of these Compaiiies. Tlie valuatioii of properties and other assets in tliese Companies has been Inade by tlie Triistees of the Charitable coinpaiiy. 14. Debtors 2025 2024 Reiits and charges receivable Other debtors 8,891 7,423 6.699 16J14
MENACHEM GENERAL CHARITABLE TRUST Notes to the Financial Statements (conliiiiied) Year ended 31 March 2025 15. Creditors: amounts falling due within one year 2025 2024 Ti-ade creditors Other creditors 8,925 8,457 7,424 8,510 17,382 15,934 16. Analysis of charitable funds Unrestricted funds Atl April 2024 At31 March 2025 Income Expenditure General funds 1,601,935 67,030 (100,956) 1,568,009 Atl AprAI 2023 At31 March 2024 IncoTne Expeiiditure General funds 1,611,319 64,657 (74,041) 1,601,935 17. Analysis of net assets behveeD funds Uiirestricted Total Funds Uiirestricted Total Funds Fiinds 2025 Fuiids 2024 Iiivestments Current assets Credltors less thali oiie year Net assets 1,511,178 74,213 (17,382) 1,568,009 1,511,178 74,213 (17,382) 1,568,009 1,529,868 88,001 (15,934) 1,601,935 1,529,868 88,001 (15,934) 1,601,935 18. Related parties There have b¢¢ii no related party traiisactions in the reportiiig period that reqLliI-e disclosiire. 12