Charity number: 1090985
OSTRO FAYRE SHARE FOUNDATION
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

OSTRO FAYRE SHARE FOUNDATION
CONTENTS
Page
Reference and Administrative Details of the Charity, its Trustees and Advisers
Trustees. Report
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
9-17

OSTRO FAYRE SHARE FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
M S Ostro OBE
K Ostro
L Simon
H Maher
Charity registered number
1090985
Principal office
The Sevens
77 Charlotte Street
London
W1T4PW
Accountants
Sopher + Co LLP
Chartered Accountants
5 Elstree Gate
Elstree Way
Borehamwood
Hertfordshire
WD6 1JD
Page 1

OSTRO FAYRE SHARE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report together with the financial statements of the Ostro Fayre Share
Foundation for the year 1 January 2023 to 31 December 2023.
Objectives and activities
a. Policies and objectives
The charitys objectives are to make funds available for donation to worthy causes and to develop and deliver
effective and impactful charitable initiatives. This is done by seeking income from investments and donations.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a
charity (PB2)'.
Achievements and perforniance
a. Review of activities
The Truslees consider the financial position of the charity to be satisfactory. During the year, the charity received
£825,906 from donations, investments, other income and govemment grants and spent £903,351 on various
specific projects and charitable donations. Reserves at the end of the year amounted to £929.438.
b. Fundraising activities and Income generation
It is the policy of the charity to maintain unreslricted funds at a level which the Trustees consider sufficient to
support existing programmes and commitments.
c. Investment policy and performance
The Charivs principal funding is from investments and charttable donations and its investment portfolio is
structured to yield annual income and capiL91 gains.
Financial review
a. Golng concern
After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt
the going concern basis in preparing the financial statements.
b. Reserves policy
The Trustees consider the assets of the charity sufficient lo meet its future obligalions.
Page 2

OSTRO FAYRE SHARE FOUNDATION
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Structure, governance and management
Constitution
Ostro Fayre Share Foundation is a registered charity, number 1090985, and is constituted under a Trust deed
executed on 16 October 2000. It commenced its activities in July 2002.
The Ostro Fayre Share Foundation is a charitable foundation promoting philanthropy, collaboration, interfaith
relations and conflict resolution. There have been no changes in the objectives since the last annual report.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the
terms of the Trust deed. Appointment of Trustees is govemed by the declaration of Trust of the charity. The
Board of Trustees is authorised to appoint by resolution new Trustees. whether by way of replacement or
addition, but so that the totsl number of Trustees shall at no time ex￿ed five. Training needs are assessed
according to each Trustee's needs. The Trustees are officers of the organisation and are responsible for the day
to day activities of the charity-
c. Organisational structure and decision4naking policies
The charity is organised so that the Trustees meet to manage the charitys affairs.
The Trust Deed authorises the Trustees to make and hold investrnents using the funds of the charity at their
discretion.
d. Flnanclal rlsk management
The Truslees 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 and procedures are in place to mitigate
exposure to the major risks.
Plans for future periods
The Charity intends to continue making funds available for donation to worthy causes and to develop and deliver
effective and impactful charitable initiatives. With this in mind. the Trustees are managing the investment
portfolio to maximise retums on the funds invested until those funds are required for their charitable use.
Page 3

OSTRO FAYRE SHARE FOUNDATION
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Statement of Trustees, responsibilities
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for
each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources
and application of resources, including its income and expenditure, for that period. In preparing these financial
statements, the Trustees are required to:
select suitsble accounting policies and then apply them consistently.
observe the methods and principles of the Charities SORP (FRS 102)"
make judgments and accounting estimates that are reasonable and prudent"
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material
departures disclosed and explained in the financial statements.
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity
and enable them to ensure that the financial statements comply wilh the Charities Acl 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the Charity and hen￿ for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Approved by order of the members of the board of Trustees on 15 October 2024 and signed on their behalf by..
M S Ostro OBE
(Trustee)
Page 4

OSTRO FAYRE SHARE FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Independent Examinerfs Report to the Trustees of Ostro Fayre Share Foundation {'the Charity.)
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31
December 2023.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 ('the 2011 ACV).
I report in respect of my examination of the Charitys accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 145{5>(b) of the 2011 Act.
Independent Examinerfs Statement
Since the Charitvs gross income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member
of Association of Charte￿d Certified Accountants. which is one of the listed bodies.
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) 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 been withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in accordance with
the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confimi that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or
the accounts do not accord with those records,. or
the accounts do not comply with the applicable requirements conceming 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 fairf wew 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.
This report is made solely to the Chariws Trustees. as a body. in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charitys
Truslees those matters l am required to state to them in an Independent Examine¢s Report and for no other
purpose. To the fullest extent permitted by law, I do not aC￿pt or assume responsibility to anyone other than the
Charity and the Charitys Trustees as a body. for my work or for this report.
Page 5

OSTRO FAYRE SHARE FOUNDATION
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Signed:
Dated: 15 October 2024
Sean Brennan FCCA
Sopher + Co LLP
Chartered Accountants
5 Elstree Gate
Elstree Way
Borehamwood
Hertfordshire
WD6 1JD
Page 6

OSTRO FAYRE SHARE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Investments
Other income
325,000
32,656
18,750
449.500
774,500
32,6S6
18,750
1.285,410
28.013
Total Income
376,406
449,500
825,906
1.313,423
Expenditure on:
Charitable activities
453,851
449,500
903,351
1.295,791
Total expenditure
453,851
449,500
903,351
1,295,791
Net {losses)Igains on investments
(76,825)
(76,825)
53,981
Net movement In funds
(154,270)
{154,270)
71,613
Reconciliation of funds:
Total funds brought forward
Net movement in funds
1,083,708
(154,270)
1,083,708
{154,270)
1,012,095
71,613
Total funds carried forward
929,438
929,438
1.083,708
The Statement of Financial Activities includes all gains and losses reo)gnised in the year.
The notes on pages 9 to 17 form part of these financial statements.
Page 7

OSTRO FAYRE SHARE FOUNDATION
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Fixed assets
Investments
870,817
932,501
870,817
932,501
Current assets
Debtors
12
168,185
161,433
368,250
198,114
Cash at bank and in hand
Current liabilities
329,618
566.364
Creditors: amounts falling due within one
year
13
(270,997)
(415,157)
Net current assets
58.621
151,207
Total net assets
929,438
1.083,708
Charity funds
Restricted funds
Unrestricted funds
929.438
1.083.708
Total funds
929,438
1,083,708
The financial statements were approved and authorised for issue by the Trustees on 15 October 2024 and
signed on their behalf by:
M S Ostro OBE
Trustee
The notes on pages 9 to 17 fonn part of these financial statements.
Page 8

OSTRO FAYRE SHARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
General information
Ostro Fayre Share Foundation is a registered charity. number 1090985. and with its registered office
address at 77-79 Charlotte Street, London, W1T 4PW.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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 1021 (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial ststements have been prepared to give a 'true and fair, view and 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 Charities SORP (FRS 102) published in
October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended
Practice effective from 1 April 2005 which has since been withdrawn.
Ostro Fayre Share Foundation meets the definttion of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in
the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of
income received for specific purposes but not expended during the period is shown in the relevant
funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its
recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Page 9

OSTRO FAYRE SHARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (continued)
2.3 Expenditure
Expenditure is recognised On￿ 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 totsl 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 allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional. such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.4 Government grants
Govemment grants relating to tangible fixed assets are treated as deferred income and released to
the Statement of Financial Activities over the expected useful lives of the assets concerned. Other
grants are credited to the Ststement of Financial Activities as the related expenditure is incurred.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capttalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are inrtially recognised at cost. After recognilion, under the cost model, tangible
fixed assets are measured at cost less accumulated deprecialion and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value
over their eslimated useful lives, as below.
Depreciation is provided on the following basis-
Plant and machinery
25 % straight line basis
Page 10

OSTRO FAYRE SHARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (continued)
2.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balan￿ Sheet date, unless the value
cannot be measured reliably in which case it is measured at cost less impainnent. Investment gains
and losses, whether realised or unrealised. are combined and presented as 'Gainsl(Losses) on
investments, in the Ststement of Financial Activities.
Investments in subsidiaries are valued at cost less provision for impainnent.
2.7 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.8 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Charity to the fund in respect of the year.
2.9 Fund accountlng
General funds are unrestricted funds which are available for use at the discrets.on of the Trustees in
furlherance of the general objectives of the Charity and which have not been designated for other
purposes.
Restricted funds are funds which are to be used in accordance witt) specific restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial ststements.
Investment income, gains and losses are allocated to the appropriate fund.
Income from donations and legacies
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Donations
325.000
325,000
449,500
399,924
885,486
Grants
449,500
Total 2023
325.000
449,500
774,500
1.285,410
Total 2022
399,924
885,486
1,285,410
Page11

OSTRO FAYRE SHARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from donations and legacies (continued)
Restricted funds relates to grants and donations received by the Foundation for specific. ongoing
projects.
Included in Donations is a gift in kind with a value of £240,000 in respect of office space, from a family
Trust. where one of the beneficiaries is also a Trustee of the Ostro Fayre Share Foundation.
Also included in Donations is a gift in kind with a value of £50,000 in respect of provision of staff, from a
Company where the director is also a Trustee of Ostro Fayre Share Foundation.
Investment income
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Income from listed investments
16,080
16,576
16,080
16,576
12.550
15,463
Investment income
Total 2023
32,656
32,656
28,013
Total 2022
28,013
28,013
Other income
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Rental income
18,750
18.750
Page 12

OSTRO FAYRE SHARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure on charitsble activities
Summary by fund type
Unrestricted Restricted
funds
funds
2023
2023
Total
2023
Total
2022
Expenditure on goveman
Medical
12.745
12,366
12,745
12,366
10.204
12,237
Provision of Offi￿ space in The Sevens and
provision of staff
Educational
346,258
4,336
45.449
346,258
4,336
45,449
329,419
12,677
17.430
1,555
360
Religious and inter-faith
Entrepreneurial Giving scheme
Children welfare
4.276
3,000
4,276
3,000
449,500
Wildlife
Strenghtening Faith Institutions (SFI)
Community Champions
Peer Ne￿Ork
Jubilee Walk
449,500
606,104
236,041
62,523
7,241
25,421
25,421
Total 2023
453,851
449,500
903,351
1,295,791
Total 2022
410,305
885,486
1,295,791
Provision of Offi￿ space in The Sevens and provision of staff includes £240,000 in repect of office space
and £50,000 in repect of provision of staff.
Page 13

OSTRO FAYRE SHARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure by activities
Grant
funding of
activities
2023
Premises
and other
costs
2023
Total
funds
2023
Total
funds
2022
Expenditure on goveman
Medical
12,745
12,745
12,366
10,204
12,237
12.366
Provision of Offi￿ space in The Sevens and
provision of staff
Educational
290.000
4.336
45,449
56,258
346,258
4,336
45,449
329.419
12,677
17,430
1,555
360
Religious and inter-faith
Entrpreneurial Giving scheme
Children welfare
Wildlife
Strengthening Faith Institutions (SFI)
Community Champions
Peer Network
Jubilee Walk
4,276
3.000
449,500
4,276
3,000
449,500
606,104
236,041
62.523
7,241
25,421
25,421
808.927
94,424
903,351
1.295,791
Total 2022
1,261,645
34,146
1,295,791
Analysis of support costs
Total
funds
2023
Total
funds
2022
Staff costs
Premises and other costs
Governan￿ costs
25,422
56,257
12,745
26,423
(2,481)
10,204
94,424
34,146
Page 14

OSTRO FAYRE SHARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Independent examinerfs remuneration
2023
2022
Fees payable to the Charitys auditor for the audiuindpendent examination
of the Charitvs annual accounts
3,960
5,760
Fees payable to the Charitys independent examiner in respect of.
All other services not included above
8,334
4,320
Staff costs
2023
2022
Wages and salaries
Social security costs
Operating costs of defined benefit pension schemes
24,878
185
23.237
2,747
439
359
25,422
26,423
The average number of persons employed by the Charity during the year was as follows..
2023
No.
2022
No.
Project activities
No employee received remuneration amounting to more than £60.000 in either year.
10.
Trustees. remuneration and expenses
During the year. no Trustees received any remuneration or other benefits (2022 - £NIL).
During the year ended 31 De￿mber 2023, no Trustee expenses have been incurred (2022 - £NIL).
Page 15

OSTRO FAYRE SHARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
11.
Fixed asset investments
Investments
in
Other fixed
subsidiary
Listed
asset
companies investments investments
Totsl
Cost or valuation
At 1 January 2023
Additions
410.376
522,124
16,576
(1,182)
31,920
932,501
16,576
(1,183)
(77,077)
Disposals
Revaluations
(1)
(108,997)
At 31 December 2023
301,379
569,438
870,817
All the fixed asset investments are held in the UK.
The company had an investment of £1 in its wholly owned subsidiary, Fayre Share Trading Limited. As at
31 December 2023. the investment has been fully written off as the subsidiary was dissolved.
12. Debtors
2023
2022
Other debtors
Prepayments and accrued income
1,634
166,551
30,273
337.977
168,185
368,250
13.
Creditors: Amounts falling due within one year
2023
2022
Trade creditors
Other creditors
10,000
19,081
241,916
10.417
404,740
Accruals and deferred income
270,997
415,157
Page 16

OSTRO FAYRE SHARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
14. Summary of funds
Summary of funds - current year
Balance at
31
Gainsl December
(Losses)
2023
Balance at 1
January
2023
Income Expenditure
General funds
Restricted funds
1.083.708
376,406
449,500
{453.851)
(449,500)
(76,825)
929,438
1,083,708
825.906
{903,351)
(76,825)
929,438
Summary of funds - prior year
Balan￿ at
31
December
2022
Balan￿ al
1 January
2022
Gainsl
(Losses}
Income Expenditure
General funds
1,012,095
189,287
885,486
{171,655)
{885,486)
53,981
1,083,708
Restricted funds
1.012,095
1.074,773 (1,057,141)
53,981
1.083,708
15.
Pension commitments
The Company operates a defined contributions pension scheme. The assets of Ihe scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £359 (2022 - £439).
16. Controlling party
The Charity is controlled by the Trustees.
Page 17

WORKIRO
SIGNATURE CERTIFICATE
Document
Name
Ostro Fayre Share Foundation - Final Accounts 31.12.2023.pd
Creator
Lisa Murray (lisam@sopherco.com)
15 October 2024 10:20:01 UTC
Date
Identifier
a0013152-69124f1 d-baOe-71666fad33bf
Signers
maurice@ostro.com
E-mail
maurice@ostro.com
15 October 2024 10:49:31 UTC
Signed
IP address
80.42.157.26