COMPANY REGISTRATION NUMBER: 01798233 CHARITY REGISTRATION NUMBER: 1090586 TRUE￿￿RT LIMITED COMPANY LIMITED BY GUARANTEE UNAUDITED FINANCIAL STATEMENTS 31 MARCH 2024 COHEN ARNOLD Chartei'ed accountants New Burlington House 1075 Finchley Road London NWII OPU TRUEMART LIMITED COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 PAGES Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (includin(v income and expenditure account) Statement of financial position Notes to the financial statements Ito3 7t013 TRUEMART LIMJTED COMPANY LIMITED BY GUARA]YTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) YE4 AR ENDED 31 MARCH 2024 The ti-ustees, wlio are also Ilie directois for the pui'poses of coinpany law, pi'esent ilieii. reporl and the unaudited financial stateiT)ents of the charity for the year ended 31 March ?024. REFERENCE AND ADMINISTRATIVE DETAILS Registered charity name Charity registration number Company registration number 01798233 Principal office and registered 34 The Ridgeway office London NWI18QS Truemart Limited 1090586 THE TRUSTEES Mr l Heilner Mrs S Heitner COMPANY SECRETARY Mrs S Heitner INDEPENDENT EXAMINER Barry Leigh FCA New Burling(on House 1075 Finchley Road London NWI I OPU STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is constituted as a coinpany limiled by gliarantee, and is therefore governed by its Memorandum and Articles of Association. The governors (trustees) administer the day-to-day affairs of the charily. None of the govemors (trustees) have any beneficial interest in tlie charity. It is not currently the intention of ihe governoi's {ti'ustees) of tlie charity to appoint new trustees. Should the situation change in the future, the trustees will apply suilable recruitment training and induction procedures. TRUEMART LIMITED COMPANY LIMITED BY GUARAINTE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Tlie charity is established to furthei- those purposes boih in the United Kingdom and abroad recognised as charitable by English Law and in furtherance of the aforeillentioned objects. The charity rcceives income mainly from charitable i-eceip15: whicli it iitilises in the provision and disti-ibution of grants and donations. The charity's principle activity througliout the year was the provision and disti-ibution of donations and gi7ntS to organisations. and no change is envisaged in the iminediate fiiture. The govemois (trustees) confirm that they have referred lo the giiidance contained in the Charity Coinmission's general guidance on public benefit when i-eviewing the cliarity's aims and objeclives and in planning future activities and selling the grant making policy for tlie year. ACHIEVEMENTS AND PERFORMANCE During ilie year, the chai'ity continued to pursue its philanthropic objects in support of educational, religious and other charitable organisations. IncoiT]e from donations and investments aggregated £215,381. Donations aggregating £265,802 were paid in the yeai.. FINANCIAL REVIEW Tlie financial results of the charity's activities for the year lo 31 March 2024 are fully reflected An the attached Financial Statements together with the Notes tliereon. Reserve Policy It is the policy of the charity to maintain unresti'icted funds, which include the free reserves of the charity, at a level which the governors (trustees) think appropriate, aftei. considering the future commitments of the charity and the likely costs of tlie charity for ihe next year. As at the year end, the charity had sufficient cash reserves to continue il's charitable activities, and the Trustees have also had regard to donations received following ihe year end. Grant making policy Grants are rnade to charitable institutions and organisations wliich accord with the objects of the charity. The governors (trustees) are approached for donations by a wide variety of charitable inslitutions operating all over England. The governors (trustees) consider all reqLiesls which they receive and make donations based on the level of funds available. PLANS FOR FUTURE PERIODS In determining the level of charitable grants and donations that they charity may make, the governors (trustees) consider the income available for such purposes froin donations il receives. SMALL COMPANY PROVISIONS This Teport has been prepared in accordance with tlie provisioiis applicable to companies entitled to the small cotnpanies exemption. TRUEMART LIMITED coThtPANY LIMITED BY GUAII4NTEE TRUSTEES, ANNUAL REPORT (INCORPOIL4TING THE DIRECTOR'S REPORT) {eoNiinued) YEAR EIWDED 31 MARCH 2024 The trustees, annual report was approved on 3 Deceinber 2024 and signed on behalf of the board of trustees by- l-leitner Trustee TRUEMART LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TRUEMART LIMITED YEAR ENDED 31 MARCH 2024 report to the trustees on iny examinalion of the financial stateinents of T]￿e]mart Limiled ('the charity,) for the year ended 31 Maith 2024. RESPONSIBILITIES AND BASJS OF RF.PORT As Ihe charity's trustees of the company (and also its direclors foi- the purposes of cotnpany law) YOLI are responsible for the preparation of Ilie accounts in accoi-dance with ihe reqiiirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not reqiiired to be audited under Pait 16 of the 2006 Act and are eligi ble for independent examination. I report in respect of my examination of yOLir charity's accounls as carried out under section 145 of the Cliarities Aci 2011 ('the 201 l Act,). In cai-rying ovt iny examination I have followed the Directions given by the Chai'ity Commission under section 145(5) (b) of the 201 l Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I confirm that no matters have come to my allention in connection with the examination giving Ine cause to believe: accounting records were not kept in respect of the chariiy as required by section 386 of the 2006 Act. or the fjnancial statements do not accord with those records. or the financial statements do not comply with ihe accounting requirements of section 396 of the 2006 Act other than any reqiiirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. or the ftnancial statements have not been prepared in accordance witli the methods and principles of the Statement of Recommended Practice foi. accounting and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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 I'cacl) Bariy Leigh FCA Independent ExaTniner New Biirlington House 1075 Finchley Road London NWII OPU 3 December 2024 TRUEIVIART LIMITED COIWJPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2024 2024 Unreslricled funds Total funds Total funds 2023 Note Income and elldowments Donations and legacies Investinent income 215,000 381 215.000 381 150,000 108 Total income 215.381 215,381 150,108 Expenditllre Expenditure on charitable activities Total expenditure (270,680) {270,680) (162,691) (270,680) {270,680) (162,691) Net expenditure and net movement in funds (55,299) (55,299) (12,583) Reconciliation of funds Total funds brought forward Total funds carried fornard 64,415 64,415 9,116 76,998 9,116 64,415 The statement of financial activities includes all gains and losses recognised in the yeai-. All income and expenditure derive from continuing activities. The noles on p8ge5 7 to 13 forni pal't of these financiul siatemenls. TRUEMART LIMITED COIVIPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL POSITION 31 MARCH 2024 2024 2023 Nole CURRENT ASSETS Cash at bank and in hand 22J56 67,655 CREDITORS: alnounts falling due within one year NET CURRENT ASSETS 14 (13,240) (3.240) 9,116 64,415 TOTAL ASSETS LESS CURRENT LIABILITIES 9,116 64,415 FUNDS OF THE CHARITY Unrestricted funds 9,116 64,415 64,415 Total charity funds 15 9,116 For the year ending 31 March 2024 the charity was entitled to exemplion frotn audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The meinbers have not required the coinpany to obtain an audil of its financial statements for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying witli the requireinenls of the Act with respect to accounting records and the prepai'ation of financial slalements. These financial slatements have been prepai'ed in accordance with the provisions applicable to companies subject lo the small companies, regime. Tliese financial stalements were approved by the board of trustees and authorised for iSSLie on 3 December 2024, and are signed on behalf of the board by: krrpieilncr Trustee The not¢5 on pages 7 10 13 form phi'l of these fin:)nciAI st%temenl& TRUE￿L4RT LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 GENERAL INFORMATION The charity is a publ ic benefit entity and a private coinpany limiled by guaraiitee: i'egislered in England and Wales and a registered cliarity in England and Wales. Tlie address of the i-egistered office is 34 The Ridgeway, London, NWI18QS. STATEMENT OF COMPLJANCE These financial statements have been prepared in compliance with FRS 10? 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, tlie Slateinent of Recommended Practice applicable to charities pi-eparing their accounts in accordance witli the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. ACCOUNTING POLICIES Basis of preparation The financial statements have been prepared on the historical cost basis, as Inodified by the revaluation of certain financial assets and l labilities and investment properties Ineasured at fair value through income or expenditure. The financial statements are prepared in sterlin& which is the functional currency of tlie entity. Going concern There are no material uncertainties about the charily's ability to continue. Judgements and key sources of estimation uncertainty In the application of the Company's accounting policies, the Directors are required to make judgements, estimates and assumptions about ihe carrying amounts of assets and liabilities that are not i'eadily apparent from other sources. The estimates and associated assurnptions are based on historical experience and other factors ihat are consldered to be relevant. Actual results Inay differ froin these estimates. The eslimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the peTiod in which the estimate is Tevised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The Directors do not consider there are any critical judgements or soiirces of estiination uncertainty requiring disclosure beyond the accounting policies listed below. TRUEMART LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (,.,,,,,,,,, YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (toMilniiÉ¢l) Fund accounting Unrestrictcd funds are available for use at the discretion of the trustees to fiirther any of the charity's PLirposes. Designated funds are unrestricted funds earmarked by the ti-ustees for particular futLire project or commitTnent. Restricted funds are subjected to restrictions on theii- expendiliire declared by tlie doT)or oi- through the teTlnS of an appeal, and fall into one of two sub-classes= resliicled incotne fiinds or endowment funds. Incoming resources Al l income is included in the statement of financial activities when entillemeni has passed to Ihe charity, it is probable that the economic benefits associated with the t17nsaclion will flow to the cliarity and the amount can be reliably measured. The following specific policies al'e applied to particular categories of income: incoine from donations or grants is recognised when there is evidence of enlilleinent to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitletnent is established. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. ExpenditLire includes any V A T which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: expendilui-e on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a cliarity in iindertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charilable activities. other expendlture includes all expenditlire that is neilher related to raising funds for the charity nor part of its expenditure on charitable activities. TRUEMART LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTSI,.,,,,,,,. YEAR EIYDED 31 MARCH 2024 ACCOUNTING POLICJES Itoniiiiiied) Financial instruments A financial asset or a financial liability is recognised only when tlie entity becoines a party to the contractiial provisions of the instrument. Basic financial instrLimcnts are initially recognised at tlie amount receivable 01- payable including any related transaction costs, unless the ayrangement constitLltes a financing ti-ansaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrurnent. Curi-enl assets and current liabilities are subsequently measured at tlie cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. LIMITED BY GUARANTEE The charity is a company limited by guarantee and has no share capital. Tlie liability of each member in tlie event of winding up is limited to £1. DONATIONS AND LEGACIES Unrestricted Total Funds Unrestricled Total Funds Funds 2024 Funds 2023 DONATIONS Donations Received 215,000 215,000 150,000 150,000 INVESTMENT INCOME Unrestricted Total Funds Unrestricted Tolal Funds Funds 2024 Funds 2023 Interest Receivable 381 381 108 108 EXPENDITURE ON CHARITABLE ACTIVITIES BY FU]¥JD TYPE Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Direct charitable expenditure Support costs 265.802 4,878 265,802 4,878 270.680 158.3 80 4.311 158,380 4,311 270,680 162,691 162,691 TRUEMART LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS( conliniivd) YEAR ENDED 31 MARCH 2024 EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE Grant funding Total funds of activities Support costs 2024 Tolal fund 2023 Direct charitable expenditure 265,802 4,878 270,680 162.691 SUPPORT COSTS Slipport costs Total 2024 Tolal 2023 Governance Costs 4,878 4,878 4,311 10. ANALYSIS OF GRANTS 2024 2023 GRANTS TO INSTITUTIONS Grants lo institutions 265,802 158,380 158,380 Total grants 265,802 io TRUEMART LIMITED COMPANY LIMITED BY GUARAIYTEE NOTES TO THE FINANCIAL STATEMENTS I,.,,,,,,,., YEAR ENDED 31 MARCH 2024 10. ANALYSIS OF GIL4NTS (roniiiiuetl) All grants and donations were paid to charitable institutions foi. the pui'poses of eiil)er tlie advancement of education, tlie alleviation of poverty or the fiirtherance of religi on. The composition of donations is sliown below. Achisomoch Aid Coinpany Limited Ainud Hatzdoko Trust Friends of Mercaz Halorah Belz Machnivka Keren Chochina5 Shloma Tnist Bels Aharon Trust Ltd Friends of Wiznitz Limited Live and Learn Lehaclizikom UK Bels Aharon TT Activity Centre Bels Soroh Schneii-er of Golders Green Limited Heichalei Hakodesh Centre Machnovka Belz Chevras Mo'oz Ladol CMZ Ltd Bayis Lepleilos Fi'ierjds of Mir Beth Abraham Synagogue Limited Bels Hillel Trust Chasdei Chaiin Moishe Friends of Yeshivas Brisk Gateshead Talmudical College Gitter Foundalion Yeshuos Sliabbos Other donations < £3,000 26,000 25,200 20,500 16,500 15,000 J 5,000 15,000 10,500 10,000 10,000 10,000 8,000 5,000 4,000 3,502 3,200 3,000 3,000 3,000 3,000 3,000 3,000 50,400 Total 265,802 11. INDEPENDENT EXAMINATJON FEES 2024 2023 Fees payable to the independent examiner for". Independent examination of the financial statements 3,240 3,240 12. EMPLOYEE NUMBERS The average head counl of employees, including truslees, during the year was 2 (2023: ?). No salaries or wage5 have been paid to employees during ihe year. TRUEMART LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS Icoiil YEAR ENDED 31 MARCH 2024 iiuefl) 13. TRUSTEE REMUNERATION AND EXPENSES No reinlineration oi. oil)er benefits from employment with the cliai'ily or a I'elaied entity were received by the ti'ustees. No triistee expenses have been incui'iEd. 14. CREDITORS: amounts falling due within one year 2024 2023 Otlier creditors 13340 3,240 15. ANALYSIS OF CHARITABLE FUNDS Unrestricted funds At 31 March 20 24 At l April 2023 Income Expenditure General funds 64,415 215,381 (270,680) 9,116 At 31 March 202 At l April 2022 Income Expenditure General funds 76,998 150,108 (162,691) 64,415 16. ANALYSIS OF IYET ASSETS BETWEEN FUNDS Unrestricted Total Funds Funds 2024 Clirrent assets Creditors less than l year 22,356 (13,240) 9,116 22J56 (13,240) 9,116 Net assets Unrestricted Total Funds Funds 2023 Current assets Credilors less than l year Iyet assets 67,655 (3,240) 64,415 67,655 (J,240) 64,415 12- TRUEMART LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS Ito YEAR ENDED 31 MARCH 2024 17. RELATED PARTIES Donations received includes amounts aggregating £73,000 from companies of which certain of Ihe trustees of this charity are directors and £109,000 from the trustees of this charity and their children. Donations paid includes amounts aggregating £3,700 to charities of wliich certain of the trusiees of this charity are also trustees. Other creditors includes £10,000 due to a company of which the Iruslees of this charity are directors. 13-