**REGISTERED CHARITY NUMBER: 1083443**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 OCTOBER 2024**
## **FOR**
## **CHASODIM FUND**
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
**CHASODIM FUND**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Statement of Financial Position**||5||
|**Notes to the Financial Statements**|6|to|11|
**CHASODIM FUND**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 October 2024. 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 objects of the charity are:
the advancement of Orthodox Jewish religious education; and
the advancement of Orthodox Jewish religion,
the relief of poverty generally and in particular amongst persons of the Jewish faith,
such other charitable purpose trusts and organisations which the trustees may from time to time determine.
## **Public benefit**
The trustees confirm that the have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.
## **Grantmaking**
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charity.
## **ACHIEVEMENTS AND PERFORMANCE**
## **Investment performance**
The charity received gross rental income of £231,579 (2023: £227,077) and expenses related to properties amounted to £173,856 (2023: £132,747).
## **FINANCIAL REVIEW**
## **Principal funding sources**
The major source of income during the year was rent receivable from Investment Properties.
The trust continued to support institutions throughout the world in pursuance of its objects.
## **Investment policy and objectives**
The Trust Deed which permit the charity's funds to be invested in securities or properties of any kind and situated anywhere in the world, controls the trustees' investment powers.
## **Reserves policy**
The reserves policy is to ensure that there is a sufficient stream of income to meet the ongoing calls made on the charity including the possibility of providing capital assets for the needs of charitable institutions.
## **FUTURE PLANS**
The Trustees plan to continue to make distributions in accordance with their grant making policy and to ensure that an 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 Chasodim Fund is constituted by Trust Deed, and its objects are to provide general charitable donations and in particular for the relief of poverty and the advancement of religion and religious education.
The policy of the Chasodim Fund continues to be to derive its income from Investment Properties and to make donations in accordance with the Trust's objects.
Page 1
**CHASODIM FUND**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees**
Appointment of trustees is governed by the Trust Deed of the charity. The Board of Trustees is authorised to fill the vacancies arising through resignation or death of an existing trustee.
## **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**
1083443
## **Principal address**
17 St Andrews Grove London N16 5NF
## **Trustees**
Mrs C Stern J Stern I Honig
## **Independent Examiner**
Malcolm Venitt Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 22 August 2025 and signed on its behalf by:
J Stern - Trustee
Page 2
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHASODIM FUND**
## **Independent examiner's report to the trustees of Chasodim Fund**
I report to the charity trustees on my examination of the accounts of Chasodim Fund (the Trust) for the year ended 31 October 2024.
## **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**
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.
Malcolm Venitt The Institute of Chartered Accountants in England and Wales
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
22 August 2025
Page 3
## **CHASODIM FUND**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
Other income
**Total**
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
General
Charitable
Other
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|31.10.24
Unrestricted
fund
£
231,578
18,005
249,583
173,986
159
161,018
2,160
337,323
(87,740)
1,367,890
1,280,150|31.10.23
Total
funds
£
227,077
-
227,077
132,747
-
610,000
2,160
744,907
(517,830)
1,885,720
1,367,890|
|---|---|---|
The notes form part of these financial statements
Page 4
## **CHASODIM FUND**
## **STATEMENT OF FINANCIAL POSITION 31 OCTOBER 2024**
|Notes
**FIXED ASSETS**
Tangible assets
6
Investment property
7
**CURRENT ASSETS**
Debtors
8
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
10
**NET ASSETS**
**FUNDS**
12
Unrestricted funds
**TOTAL FUNDS**|31.10.24
Unrestricted
fund
£
735
2,580,652
2,581,387
21,633
16,251
37,884
(116,552)
(78,668)
2,502,719
(1,222,569 )
1,280,150
1,280,150
1,280,150|31.10.23
Total
funds
£
864
2,713,657
2,714,521
24,845
32,345
57,190
(131,276)
(74,086)
2,640,435
(1,272,545 )
1,367,890
1,367,890
1,367,890|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 22 August 2025 and were signed on its behalf by:
J Stern - Trustee
I Honig - Trustee
The notes form part of these financial statements
Page 5
**CHASODIM FUND**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024**
## **1. 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.
Fixtures and fittings - 15% on reducing balance
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **2. INVESTMENT INCOME**
||31.10.24|31.10.23|
|---|---|---|
||£|£|
|Rents received|231,578|227,077|
Page 6
continued...
## **CHASODIM FUND**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
## **3. RAISING FUNDS**
## **Investment management costs**
|Property repairs
Rates and water
Insurance
Management commission
Legal & professional fees
Bank loan interest
Support costs|31.10.24
£
52,410
426
4,968
15,064
3,223
97,765
130
173,986|31.10.23
£
20,201
(5,642)
2,348
10,967
13,178
82,866
8,829
132,747|
|---|---|---|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 October 2024 nor for the year ended 31 October 2023.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Charitable
Other
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
227,077
132,747
610,000
2,160
744,907
(517,830)
1,885,720
1,367,890|
|---|---|
continued...
Page 7
## **CHASODIM FUND**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
## **6. TANGIBLE FIXED ASSETS**
|**COST**
At 1 November 2023 and 31 October 2024
**DEPRECIATION**
At 1 November 2023
Charge for year
At 31 October 2024
**NET BOOK VALUE**
At 31 October 2024
At 31 October 2023
**7.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1 November 2023
Disposals
At 31 October 2024
**NET BOOK VALUE**
At 31 October 2024
At 31 October 2023
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.10.24
£
Trade debtors
2,033
Other debtors
19,596
VAT
4
21,633|Fixtures
and
fittings
£
1,656
792
129
921
735
864
£
2,713,657
(133,005)
2,580,652
2,580,652
2,713,657
31.10.23
£
5,249
19,596
-
24,845|
|---|---|
continued...
Page 8
## **CHASODIM FUND**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
|**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.10.24
£
Bank loans and overdrafts (see note 11)
-
Trade creditors
5,169
Taxation and social security
-
Other creditors
111,383
116,552
**10.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
31.10.24
£
Bank loans (see note 11)
1,222,569
**11.**
**LOANS**
An analysis of the maturity of loans is given below:
31.10.24
£
Amounts falling due within one year on demand:
Bank overdrafts
-
Amounts falling due in more than five years:
Repayable by instalments:
Building Society Mortgage
447,202
Repayable otherwise than by instalments:
Bank loans more 5 yrs non-inst
775,367
**12.**
**MOVEMENT IN FUNDS**
Net
At
movement
1.11.23
in funds
£
£
**Unrestricted funds**
General fund
1,367,890
(87,740)
**TOTAL FUNDS**
1,367,890
(87,740)
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
249,583
(337,323)
**TOTAL FUNDS**
249,583
(337,323)|31.10.23
£
22,414
7,532
491
100,839
131,276
31.10.23
£
1,272,545
31.10.23
£
22,414
484,075
788,470
At
31.10.24
£
1,280,150
1,280,150
Movement
in funds
£
(87,740)
(87,740)|
|---|---|
continued...
Page 9
## **CHASODIM FUND**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
## **12. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At
1.11.22
£
**Unrestricted funds**
General fund
1,885,720
**TOTAL FUNDS**
1,885,720
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
227,077
**TOTAL FUNDS**
227,077||Net
movement
in funds
£
(517,830)
(517,830)
Resources
expended
£
(744,907)
(744,907)|At
31.10.23
£
1,367,890|At
31.10.23
£
1,367,890|
|---|---|---|---|---|
||||1,367,890||
||||Movement
in funds
£
(517,830)
(517,830)||
|||||(517,830)|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At
1.11.22
£
1,885,720
1,885,720|Net
movement
in funds
£
(605,570)
(605,570)|At
31.10.24
£
1,280,150|
|---|---|---|---|
||||1,280,150|
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
Movement
resources
expended
in funds
£
£
£
476,660
(1,082,230 )
(605,570)
476,660
(1,082,230 )
(605,570)|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
476,660
(1,082,230 )
(605,570)
476,660
(1,082,230 )
(605,570)|
|---|---|---|
|||(605,570)|
continued...
Page 10
**CHASODIM FUND**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
## **13. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 October 2024.
Page 11