Charity number: 1090985 OSTRO FAYRE SHARE FOUNDATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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 2024 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 2024 The Trustees present their annual report together with the financial statements of the Ostro Fayre Share Foundation for the year 1 January 2024 to 31 December 2024. 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 £710,648 from donations, investments, other income and govemment grants and spent £707,259 on various specific projects and charitable donations. Reserves at the end of the year amounted to £996.710. 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 2024 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 exed 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 2024 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 27 October 2025 and signed on their behalf by.. 9rftt¥4/zc6D5 M S Ostro OBE (Trustee) Page 4
OSTRO FAYRE SHARE FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 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 2024. 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 Charted 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. Page 5
OSTRO FAYRE SHARE FOUNDATION INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 This report is made solely to the Charitvs 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 Charitls Trustees those matters l am required to state to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law, I do not aCpt or assume responsibility to anyone other than the Charity and the Charitvs Trustees as a body, for my work or for this report. Signed: Dated: 27 October 2025 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 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Investments Other income 301,850 40,930 153,518 214.350 516,200 40,930 153,518 774,500 32.656 18,750 Total Income 496.298 214,350 710,648 825,906 Expenditure on: Charitable activities 492,909 214,350 707,259 903,351 Total expenditure 492,909 214,350 707,259 903,351 Net gainsl{losses) on investments 63,883 63,883 (76,825) Net movement In funds 67,272 67,272 (154,270) Reconciliation of funds: Total funds brought forward Net movement in funds 929,438 67,272 929,438 67,272 1,083,708 (154,270) Total funds carried forward 996,710 996,710 929,438 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 2024 2024 2023 Note Fixed assets Investments 1,052,396 870,817 1,052,396 870,817 Current assets Debtors 12 7,830 97,213 168,185 161,433 Cash at bank and in hand 105,043 329.618 Current liabilities Creditors- amounts falling due within one year 13 (160,728) (270.997) Net current (liabilities) l assets (55,685) 58,621 Total net assets 996,711 929,438 Charity funds Restricted funds Unrestricted funds 996.711 929,438 Total funds 996.711 929,438 The financial statements were approved and authorised for issue by the Trustees on 27 October 2025 and signed on their behalf by- q(t%U/ZC6 05tm S Ostro OBE Trustee The notes on pages 9 to 17 fom part of these financial statements. Page 8
OSTRO FAYRE SHARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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 Going concem 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 concem basis in preparing the financial statements. 2.3 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 re1Vable. Other income is recognised in the period in which it is re1vable and to the extent the goods have been provided or on completion of the service. Page 9
OSTRO FAYRE SHARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.4 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. 2.5 Government grants Govemment grants relating to tangible fixed assets are treated as deferred income and released to the Ststement of Financial Activities upon the completion of the relevant performance-related conditions. Other grants that are not subject to performance-related conditions are credited to the Statement of Financial Activities as the grant proceeds are received. Grants received prior to the revenue recognition criteria being satisfied are CogniSed as a liability. 2.6 Tangible fixed assets and depreciation Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cA)st or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition. under the cost model. tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impaimient losses. All costs incurred to bring a tangible fixed asset into its intended working condilion should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated 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 2024 Accounting policies (continued) 2.7 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. 2.8 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instwments 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. 2.9 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. 2.10 Fund accounting General funds are unrestricted funds which are available for use at the discrets.on of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for olher purposes. Restricted funds are funds which are to be used in accordance with 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 statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donatlons and legacles Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations 301,850 301,850 214,350 325,000 449,500 Grants 214,350 Total 2024 301.850 214.350 516,200 774,500 Total 2023 325.000 449.500 774,500 Page11
OSTRO FAYRE SHARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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 2024 Total funds 2024 Total funds 2023 Income from listed investments 22,434 18,496 22,434 18,496 16.080 16,576 Investment income Total 2024 40,930 40,930 32,656 Total 2023 32,656 32,656 Other income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Rental income 153,518 153.518 18,750 Total 2023 18,750 18,750 Page 12
OSTRO FAYRE SHARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expenditure on charitsble activities Summary by fund type Unrestricted Restricted funds funds 2024 2024 Total 2024 Total 2023 Expenditure on goveman Medical 10.559 4,360 10,559 4,360 12.745 12,366 Provision of Offi space in The Sevens and provision of staff Educational 403,798 8,671 19.894 8.860 403,798 8,671 19,894 8,860 346,258 4,336 45.449 4,276 3.000 449,500 25,421 Religious and inter-faith Children welfare Wildlife Strenghtening Faith Institutions (SFI) Staff costs 214,350 214,350 36,767 36,767 Total 2024 492,909 214.350 707,259 903,351 Tolal 2023 453.851 449.500 903.351 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 2024 Analysis of expenditure by activities Grant funding of activities 2024 Premises and other costs 2024 Total funds 2024 Total funds 2023 Expenditure on goveman Medical 10,559 10,559 4,360 12,745 12,366 4.360 Provision of Offi space in The Sevens and provision of staff Educational 290.000 8,671 19,894 8.860 113,798 403,798 8,671 19,894 8,860 346.258 4,336 45,449 4,276 3,000 449,500 25,421 Religious and inter-faith Children welfare Wildlife Strengthening Faith Institutions (SFI) Staff costs 214.350 214,350 36,767 36,767 546,135 161,124 707,259 903.351 Total 2023 808,927 94,424 903,351 Analysis of support costs Total funds 2024 Total funds 2023 Staff costs Premises and other costs Governan costs 36,767 113,798 10,559 25,422 56,257 12,745 161,124 94,424 Page 14
OSTRO FAYRE SHARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examinerfs remuneration 2024 2023 Fees payable to the Charitys auditor for the audiuindpendent examination of the Charitvs annual accounts 3,960 3,960 Fees payable to the Charitys independent examiner in respect of. All other services not included above 5,820 5,820 Staff costs 2024 2023 Wages and salaries Social security costs Operating costs of defined benefit pension schemes 35,000 1,767 24.878 185 359 36,767 25,422 The average number of persons employed by the Charity during the year was as follows.. 2024 No. 2023 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 (2023 - £NIL). During the year ended 31 Dember 2024, no Trustee expenses have been incurred (2023 - £NIL). Page 15
OSTRO FAYRE SHARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Fixed asset investments Other fixed Listed asset investments investments Total Cost or valuatlon At 1 January 2024 Additions 301,379 101.001 569,438 18,496 (1,442) 22,781 870,817 119,497 (1,442) 63,524 Disposals Revaluations 40.743 At 31 December 2024 443,123 609,273 1,052,396 All the fixed asset investments are held in the UK. 12. Debtors 2024 2023 other debtors 86 1,634 166,551 Prepayments and accrued income 7,744 7,830 168,185 13. Creditors: Amounts falling due within one year 2024 2023 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 10,000 1,045 34,946 124,737 19,081 241,916 1fJO,728 270,997 Page 16
OSTRO FAYRE SHARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14. Summary of funds Summary of funds - current year Balance at 31 Gainsl December (Losses) 2024 Balance at 1 January 2024 Income Expenditure General funds Restricted funds 929.438 496,299 214,350 {492.909) (214,350) 63,883 996,711 929,438 710.649 (707,259) 63,883 996,711 Summary of funds - prior year Balan at 31 December 2023 Balan al 1 January 2023 Gainsl (Losses} Income Expenditure General funds 1,083,708 376,406 449,500 {453,851) {449,500) (76,825) 929,438 Restricted funds 1.083.708 825,906 {903,351) (76,825) 929,438 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 £nil (2023 - £359). 16. Controlling party The Charity is controlled by the Trustees. Page 17
WORKIRO SIGNATURE CERTIFICATE Document Name Ostro Fayre Share Foundation - Final Accounts 31.12.2024.pd Creator Lisa Murray (lisam@sopherco.com) 28 October 2025 11:34:53 UTC Date Identifier abd5e651-036e4ffO-bc68-7363d69c4d5e Signers maurice@ostro.com E-mail maurice@ostro.com 28 October 2025 13:07:51 UTC Signed IP address 222.252.148.134