Charity registration number 1090240 (England and Wales)
THE CARMONA CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
THE CARMONA CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Andrew Berkeley |
|---|---|
| Daniella Berkeley | |
| Rodney Berkeley | |
| Charity Registration (England and Wales) 1090240 | |
| Principal address | 1st Floor |
| Rico House | |
| George Street | |
| Prestwich | |
| Manchester | |
| M25 9WS | |
| Independent examiner | Lopian Gross Barnett & Co |
| 1st Floor, Cloister House | |
| Riverside | |
| New Bailey Street | |
| Manchester | |
| M3 5FS | |
| Bankers | Royal Bank of Scotland Plc |
| 2 Crofts Bank Road | |
| Urmston | |
| Manchester | |
| M41 0TU |
THE CARMONA CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 12 |
THE CARMONA CHARITABLE TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2025
The Trustees present their report together with the financial statements of the charity for the year ended 5 April 2025.
The financial statements comply with the charity's trust deed and applicable law.
Objectives and activities
The principal objectives of the charity are:
-the advancement of the Jewish faith;
-the advancement of Jewish education; and
- -the relief of poverty within the Jewish community.
In accordance with the Trust Deed, the Trustees have the power to invest in stocks, shares and investments in the UK as they see fit. The Trustees believe that the performance of investments during the year has been satisfactory and has allowed them to meet their charitable objectives.
The Trustees have absolute discretion in determining the selection of investments for the Trust.
The trustees confirm that they 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.
The charity is funded by donations and income from investments and gives out grants in line with the above objects. Grants made during the year to institutions are as detailed in the accounts. The application of the funds is by way of grants to either institutions or individuals and is almost always to institutions.
The Trustees receive many grant applications. They primarily support charities, organisations or individuals in the following areas: advancement of the Jewish Faith, advancement of the Jewish education and relief of poverty. In deciding who they support they consider the financial need and track record of the applicant.
Achievements and performance
The annexed financial statements show the state of the finances of the Trust as at 5 April 2025 which the Trustees consider to be satisfactory.
Funds were distributed during the year ended 5 April 2025 for the benefit of over 50 national charities.
The charity received donations of £77,148 during the year (2024: £21,810).
The charity also had investment income during the year amounting to £361,294 (2024: £296,983).
The charity paid out £226,349 (2024: £241,696) by way of grants and donations during the year.
The charity has maintained low administrative costs during the years ended 5 April 2024 and 5 April 2025.
There were no material fundraising costs during the year.
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THE CARMONA CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
Financial review
The trustees are delighted to report that all of the property investments are returning at least a 15% return. The trustees consider this exceptional when compared with returns available on deposits in any of the banking institutions. These investment returns have been consistent for a number of years and are not at the expense of any exposure of loan to value covenants that would put these investments at risk.
The huge gains made in the year are attributable to a new investment which is showing phenomenal potential and has provided a very strong return.
The trustees feel this was another year where the income generated from its investment, gains made on the sale of an investment asset and grants paid out showed the quality of the investments they have made. The trustees are delighted to have made many valuable contributions to the community as a result of these gains and donations and hope to be able to do so for many years to come.
There is no formal policy to maintain a set level of reserves and the Trust aims to distribute all available income to religious, educational and similar charities. Any income which has not been distributed will be held in the reserves for use in subsequent periods in line with the charities objectives.
The Unrestricted Fund represents the unrestricted funds arising from past operating results.
The Trustees are satisfied that the balance of the Fund is an acceptable level of reserves given the nature of revenue receipts against grants payable.
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate any exposure to major risks.
Plans for future periods
The Trustees plan to continue investing to raise funds in line with the Trust Deed and to utilise those funds for charitable purposes.
Structure, governance and management
The Carmona Charitable Trust is constituted by a Deed of Settlement dated 15 November 2001, as amended by a supplemental deed dated 4 February 2002, as amended by supplemental deed 29 September 2014 and is a registered charity no. 1090240.
The Trust Fund and the income arising are held for charitable purposes.
The Trustees have power to pay or apply capital of the Trust Fund from time to time for charitable purposes. The Trustees are empowered to make donations to registered charities only and individuals should therefore not seek financial assistance from the Trustees.
Full details are included on the schedule of legal and administrative information.
The Trustees who served during the year were:
Andrew Berkeley Daniella Berkeley Rodney Berkeley
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THE CARMONA CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
There is no Chief Executive Officer nor any other staff employed by the charity. The day to day affairs are undertaken by Mr. A. Berkeley on behalf of the trustees.
All major decisions are taken collectively by the trustees.
Any recruitment and appointment of new trustees would be in line with the Trust Deed and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts.
Promoting the success of the company
It is the aim of the charity to maintain unrestricted funds at a level sufficient to enable it to continue to operate and meet its day to day running costs.
On behalf of the Trustees
..............................Signed on 04 February 2026 @ 16:34 Andrew Berkeley
Trustee
Date: .............................................4 February 2026
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THE CARMONA CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE CARMONA CHARITABLE TRUST
I report to the Trustees on my examination of the financial statements of The Carmona Charitable Trust (the charity) for the year ended 5 April 2025.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no 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 charity as required by section 130 of the Charities Act 2011.
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Nathaniel Davidson BA(Hons) ACA Lopian Gross Barnett & Co
1st Floor, Cloister House Riverside New Bailey Street Manchester M3 5FS
05/02/2026 Dated: .........................
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THE CARMONA CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2025
| **Unrestricted ** | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2023 | ||
| Notes | £ | £ | |
| Income and endowments from: | |||
| Donations Received | 3 | 77,148 | 21,810 |
| Share of profit from investments | 4 | 361,294 | 296,983 |
| Total income | 438,442 | 318,793 | |
| Expenditure on: | |||
| Charitable activities | 5 | 226,349 | 241,696 |
| Other | 9 | 3,727 | 6,065 |
| Total resources expended | 230,076 | 247,761 | |
| Net income for the year/ | |||
| Net movement in funds | 208,366 | 71,032 | |
| Fund balances at 6 April 2024 | 1,003,036 | 932,004 | |
| Fund balances at 5 April 2025 | 1,211,402 | 1,003,036 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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THE CARMONA CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2025
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Fixed assets | ||||||
| Investments | 11 | 506,157 | 506,157 | |||
| Current assets | ||||||
| Debtors | 12 | 677,751 | 515,664 | |||
| Cash at bank and in hand | 33,794 | 119,963 | ||||
| 711,545 | 635,627 | |||||
| Creditors: amounts falling due within | 13 | |||||
| one year | (6,300) | (138,748) | ||||
| Net current assets | 705,245 | 496,879 | ||||
| Total assets less current liabilities | 1,211,402 | 1,003,036 | ||||
| The funds of the charity | ||||||
| Unrestricted funds | 14 | 1,211,402 | 1,003,036 | |||
| 1,211,402 | 1,003,036 |
The financial statements were approved by the Trustees on ..........................
ee ..............................Signed on 04 February 2026 @ 16:34 Andrew Berkeley Trustee
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THE CARMONA CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
Charity information
The Carmona Charitable Trust is a Charitable Trust registered by the Charity Commission, charity no. 1090240.
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of receipt.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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THE CARMONA CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
(Continued)
Investment gains and losses include any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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THE CARMONA CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations Received
| 2025 £ Donations and gifts 77,148 4 Share of profit from investments 2025 £ Other income 361,294 5 Charitable activities 2025 £ Grant funding of activities (see note 6) 226,349 |
2024 £ 21,810 |
|---|---|
| 2024 £ 296,983 |
|
| 2024 £ 241,696 |
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THE CARMONA CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
6 Grants payable
| Donations | Donations | |
|---|---|---|
| 2025 | 2023 | |
| £ | £ | |
| Grants to institutions: | ||
| Advancement of the Jewish faith | 50,240 | 48,374 |
| Advancement of Jewish education | 84,385 | 36,970 |
| Relief of poverty | 61,724 | 126,350 |
| 196,349 | 211,696 | |
| Grants to individuals | 30,000 | 30,000 |
| 226,349 | 241,696 | |
| Material grants were made to the following institutions: | ||
| Achisomach Aid Company Limited - £2,550 | ||
| Asser Bishvil Foundation - £24,654 | ||
| Chana Charity Ltd - £5,000 | ||
| Friends Of Ascent - £50,000 | ||
| Jewish Futures Trust Limited - £ 25,000 | ||
| King David Schools (Manchester) - £35,000 | ||
| Yeshiva L'Zeirim Manchester Charity Trust - £5,000 |
7 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
None of the Trustees (or any persons connected with them) received any reimbursement of expenses from the charity during year.
8 Employees
There were no employees during the year.
9 Other
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| Accountancy Fees | 3,300 | 4,440 |
| Insurance | 427 | 725 |
| Bank Charges | - | 900 |
| 3,727 | 6,065 |
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THE CARMONA CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Fixed asset investments
| Unlisted | ||
|---|---|---|
| investments | ||
| £ | ||
| Cost or valuation | ||
| At 6 April 2024 & 5 April 2025 | 506,157 | |
| Carrying amount | ||
| At 05 April 2025 | 506,157 | |
| At 05 April 2024 | 506,157 | |
| Debtors | ||
| 2025 | 2024 | |
| Amounts falling due within one year: | £ | £ |
| Other debtors | 677,751 | 515,664 |
12 Debtors
13 Creditors: amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income |
2025 £ 3,150 - 3,150 6,300 |
2024 £ - 135,748 3,000 |
|---|---|---|
| 138,748 |
14 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 6 April | Incoming | Resources | At 5 April | |
|---|---|---|---|---|
| 2024 | resources | expended | 2025 | |
| £ | £ | £ | £ | |
| General funds | 1,003,036 | 438,442 | (230,076) | 1,211,402 |
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THE CARMONA CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
| 14 Unrestricted funds Previous year: General funds 15 Related party transactions |
(Continued) At 6 April 2023 Incoming resources Resources expended At 5 April 2024 £ £ £ £ 932,004 318,793 (247,761) 1,003,036 |
|---|---|
There were no disclosable related party transactions during the year (2024: There were no disclosable related party transactions during the year).
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