PARKWILL LIMITED (LIMtTED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Company Number: 2522634 Charity Number: 1096158 COHEN ARNOLD CHARTERED ACCOUNTANTS & STATUTORY AUDITOR LONDON NWI I OPU PARKWILL LI￿llTED EX TO THE Fll¥ANCL4L STATEMENrs FOR THE YEAR ENDED 31 MARCH 2025 Page Reference and Administrative Details Truslees, Report 7-10 Auditor's Report Consolidated Statement of Financial Activities 12 Consolidated Balance Sheet and Charitable Company Balance Sheet 13 Consolidated Statement of Cash Flows 14-23 Notes to the Financial Statements PARKWILL LIMtTED REFERENCE AND ADMllYISTRATIVE DETAJLS FOR THE YEAR ENDED 31 MARCH 2025 Name: Parkwill Limited Status: Incory)orated: 16th July 1990 Registered Charity Number: 1096158 Company Registration Number.. 2522634 Principal Office: 129 Stamford Hill London N16 5TW Registered oifice: New Burlington House 1075 Finchley Road London NWI I OPU Charity Trustees: Mr P N Englander (Cbairnian) Mrs E T Englander Mr A Stern Mr E Gottesfeld Secretary: Mrs E T Englander Auditors: Cohen Arnold Chartered Accountants & Slamtory Auditor New Burlington House 1075 Finchley Road London NWI I OPU Bankers: Barclays Bank PIC Mile End & Bow Branch 240 Whitechapel Road London El IBS PARKWILL LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, who are also directors for the purposes of Company law, have pleasure in presenting their report, together with the consolidated Financial Ststements of the Charitable Company and its subsidiaries for the year ended 31 March 2025 which are also prepared to meet the requirements for a Directors, report for Companies Act purposes. The financial statements comply with the Charities Act 201 I, the Companies Act 2006, the Memorandum and Articles of Association 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). REFERENCE AND ADMINISTRATIVE DETAILS Reference and Administrative details of the Company are shown on Page l of the Financial Statements which forn]s part of this report. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document Parkwill Limited is a Company limited by guarantee governed by its Memorandurn and Articles of Association. It is registered as a charity with the Charity Commission. Organisation The Charitable Company is adrninistered by the Trustees. Every Trustee holds office until he/she shall die or shall cease to hold office by virtue of the Articles of Association. The day-to-day affairs of the Charitable Company are administered by the Trustees whose Chainnan is Mr P N Englander. All Trustees give their time voluntarily and no benefit or expenses were paid to them in the year. Appoinlmenl of Truslees Where there is a requirement for new Trnstees, these would be identified and appointed by the remaining Trustees. Trusfee Induelion and Training The Chaimlan of the Trustees would be responsible for the induction of any new Trustee, which involves awareness of a Trnstee's responsibilities, the governing document, administrative procedures, the history and philosophical approach of the Charity. A new Trustee would receive copies of the previous year's annual report and accounts with detailed explanation thereof. Group Slructure and Relallonships The Charity has the following non-charitable operating subsidiaries: Com an Istration Number 11229159 01338359 P¢r¢entd e Shareholdin Adagio Estates Limited Grangepoint Limited IOOO/o The subsidiary undertaking5 are administered by the Directors of those companies. PARKWILL LItMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 OBJECTIVES AND ACTIVITIES FOR THE BENEFIT OF THE PUBLIC The Charities objectives. as defined in its governing documenL are the advancement of religion in accordance with the orthodox Jewish faith, the relief of poverty and such other purposes as are recogmised by English Law as charitable. To achieve these objects, the Company utilises its income to make grants and donations. The Trustees confirm their Compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charitable Company's aims and objectives and in planning future activities. Grant Maklng Policy The Trustees are approached for donations by a wide variety of charitable instiNtions operating in the United Kingdom and abroad. The Trustees consider all requests which they receive and make donations based on the level of funds available to charities whose purpose fall within the objects of the Charitable Company. In making grants and donations. the Trustees use their personal knowledge of the relevant institutions, their representatives. operational efficiency and reputation. The Trustees monitor the application of the grant5 and donations by meeting with representatives of the institutions and obtaining infonnation as to the utilisation of funds. INVESTMENTS The movements in Investments are fully reflected in Note l O lo the Financial Statements. The Group's investment propertie5 are included in the Financial Statements at fair value. The properties are valued by the Trustees. The Charitable Company's investments in subsidiary undertakings are included in the Financial Statements at fair value, based on the value of their underlying assets less liabilities. The valuation of properties and other assets in these Companies has been carried out by the Trustees. ACHIEVEMENTS AND PERFORMANCE During the year the Charitable Company has continued its philanthropic activities and has maintained ils support of organisations engaging in education, advancement of religion and the giving of philanthropic aid. The reserves remain available to organisations engaging in activities compatible with the aims and objectives of the Charitable Company. The Truslees expect such demands to increase in future years. The financiaI results of the Charitable Company and its Subsidiary Undertakings for the year ended 31 March 2025 are fully reflected in the attached Financial Statements logether with the Notes thereon. Grants and donations in the year totalled £729,650 (2024: £954,940). PARKWILL LIIVllTED REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 31 TrIARCH 2025 FINANCIAL REVIEW Financial Position The financial position of the Charitable Company and its subsidiaries is satisfactory. The Charltable Company's Consolidated Statement of Financial Activities shows a net surplus of £481,988 (2024- £5,743.552) and total reserves of £6,196,100 (2024- £5,714.112). Resei'ves Polic The Reserves Policy of the Trustees is to maintain unrestricted funds. which are the free reserves of the Charitable Company, at a level they consider appropriate to the Charitable Company's needs taking into accouDt likely future requiretnents. The Charitable Company holds long terni investrnents to allow it to generate sufficient income on an ongoing basis. A proportion of the reserves is held in readily realisable forni to cover on-going grant-making activities and contingencies arising from additional calls made upon the Charitable Company for the 5UPPOrt of organisations in times of need. The Charitable Company's reserves are repr¢sented by unrestricted funds arising from past operating results. The Trustees are satisfied that the present balance of distributable reserves is sufficient to support anticipated expenditure. Princi I rundiii Soiirces The Charitable Company's principal funding sources in the year were donations received from related companies, together with donations received from subsidiaries. Investincni )olic and ob'ectives Under the Memorandum and Articles of Association, the Charitable Company has the power to make any investment which the Trustees see fit provided any moneys are not immediately required for use in connection with any of its objects. The Charitable Company's investment policy is to maximise its income and gains so that its charltable objectives are maintained and expanded. Key Performance Jndlcalors The Trustees monitor the group's perfomiance against the strategic objectives on a regular basis. Perforn)ance is assessed against the strategy and expectations using financial and non-fmancial indicators. The key fmancial perfonnance indicators used by the group are as follows: 2025 2024 Grants and donations received Grdnts and donations paid Net investment income Gainsl(Losses) on investments Net movement in fund5 - surplus/(deficit) Total funds 272,350 729,650 258,287 638,370 481,988 6,196,100 6,597, 096 954.940 115,072 5, 743.552 5. 714,J12 The Charity has continued to raise funds and was able to contitTrue its grant funding activities in furtherance of its charitable objects. PLANS FOR FUTURE PERIODS The Trustees plan to continue rnaking distributions in accordance with their grant-making policy and to ensure that the ability to generate sufficient income is maintained to achieve that end. PAIIKWILL LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Principal Risks and Uncerlalnlies The Trustees have identified and reviewed the major risks to which the group is exposed, in particular those related to the operations and finance of the group, and are satisfied that systems are in place to manage those risks. The principal risks to which the group is exposed are: The availability of liquid funds to make grants and donations Liabilities arising from property investment activity Tenant defaults DaTnage to property from flood, fire or terrorist action The economic cycle generally The group seeks to manage or mitigate such risks wherever possible through measures including insurance, teJJant screening and monitoring, rigorous reviews of acquisition and investment opportunities, external expert advice, monitoring cash and regular monitoring of the economic outlook. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The Trustees (who are also the directOT5 of Parkwill Limited for the purposes of Company law) 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). Company law requires the Trustees to prepare financial staternents for each financial year which give a true and fair view of the state of affairs of the Charitable Company and the group and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Group for that period. Under company law the Trustees must not approve the fmancial statements unless they are satisfied that they give a trne and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent. state whetheT applicable UK Accounting Standards have been followe(L subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable thetn to ensure that the financial statements comply with the Companies Act 2006 and Charity legislation. The Trustees are also responsible for safeguardin(Y the assets of the Chaiitable Cornpany and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. PARKWILL LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STA TEMENT OF DISCLOSURE TO AUDITORS In so for as the Trustees are aware at the time of approving the Trustees. Report: there is no relevant infornialion, being inforniation needed by the auditor in connection with preparing their report, of which the group's auditor is unaware, and the trustees, having made enquiries of fellow directors and the group's auditor that they ought to have individually taken, have each laken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant audit inforniation and to establish that the auditor is aware of that information. AUDITORS The auditors, Cohen Arnold, are deemed to be re-appointed under Section 487(2) of the Companies Act 2006. SMALL COMPANY PROVISIONS This report has been prepared in accordance with the special provisions for small Companies under Part 15 of the Companies Act 2006. Approved by the Trustees on Z.f.January 2026, including in their capacity as Company Directors. On behalf of the Board of Trustees, Mrs l T li nglander (Trustee) PARKWILL LIMITED YDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF PARKWILL LIMITED FOR THE YEAR ENDED 31]IIARCH 2025 OPINION We have audited the fmallcial statements of Parkwill Limited (the 'parent charitable company,) and its subsidiaries ('the group.) for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Parent Charitable Company Balance Sheets. the Consolidated Cash Flow Statement and the related notes, including a summary of significant accounting policies. The flnancial reporting framework that has been applied in their PTeparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the group's and the parent charitable company'5 affairs as at 31 March 2025 and of the group's incoming resources and application of resources, including its income and expenditure. and of the group's cash flows for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. have been prepared in accordance with the requirements of the Companies Act 2006. BASIS FOR OPINION We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in a¢¢ordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the fmancial statements is appropriate. Based on the work we have perforn]ed. we have not identified any material uncertainties relating to events or conditions thaL individually or collectively. Tnay cast significaT]t doubt on the group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the TTUStees with respect to going concern are described iT] the relevant sections of this report. PARKWILL LIMITED INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS AND TRUSTEES OF PARKWILL LIMITED (Conlinuéd) FOR THE YEAR ENDED 31 MARCH 2025 OTHER INFORMA TION The other infomation comprises the infornlation included in the annual repor¢ other than the financial statements and our auditor's report thereon. The TTU5tee5 are responsible for the other infonnation. Our opinion on the financial statements does not cover the other inforniation and, except to the extent otherwise explicitly stated in our report, we do not express any forn] of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other inforniation and, in doing so. consider whether the other infomlation is materially inconsistent with the financial statements or our kThowledge obtained in the audit or othenvise appears to be materially misstated. If we identify such material incotjsistencies OT apparent material misstatements, we are required to determine whether there is a material misstatement in the f￿ancial statements or a maierial misstatement of the other information. If. based on the work we have performed. we conclud¢ that there is a material misstatement of this other infonnation, we are required to report that fact. We have nothing to report in this regard. OPINIONS ON OTHER mA￿ERs PRESCRIBED B Y THE COMPANIES ACT 2006 In our opinion, based on the work undertaken in the course of the audit: the inforniation given in the Trustees, Report for the financial year for which the financial statements are prepared is consistent with the financial statements. and the Trustees, Report has been prepared in accordance with applicable legal requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding of the group and the parent charitable company and ils environment obtained in the course of the audiL we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received frorn branches not visited by us. or the parent company financial statement5 are not in agreement with the accounting records and returns. or certain disclosures of Trustees, remuneration speCif￿d by law are not made. or we have not received all the infornlation and explanations we require for our audit- or the trustees were not entitled to prepare the financial statements in accordance with the small cotnpanies regime and take advantage ofthe small compaDies' ex¢mptions in preparing the truste¢s annual report and from the requir¢ment to prepare a strategic report. PARKWILL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF PARKWILL LIllllTED (Coniinued) FOR THE YEAR ENDED 31 MARCH 2025 RESPONSIBILITIES OF TRUSTEES As explained more thlly in the Trustees, responsibilities statement, the Ttustees who are also the Directors of the parent charitable company for the purposes of cotnpany law are responsible for the PTepaTation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud OT e￿0[. In preparing the finaT]cial statements. the Trustees are responsible for assessing the group's and parent charitsble company's ability to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustee5 either intend to liquidate the group or the parent charitable company or to cease operations. or have no realistic alternative but to do so. AUDITOR'S RESPONSIBILKTIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from rnaterial misstatemenL wh¢ther due to fraud or error, and to issue an auditor's report that include5 our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material mtSStatemenl when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the econornic decisions of users taken on ihe basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line wilh our responsibilities. outlined above, to detect rnaterial misstatement5 in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We obtained an understanding of the legal and regulatory frameworks that are applicable to the group through discussion with the management and identified which were most significant with respect to the financial statements. We identified Companies Act 2006 (including associated regulations), Charities Act 2011, Charities SORP (FRS 102), Financial Reporting Standard 102, Taxation Laws and Regulations, The Landlord and Tenant Act and Health & Safety Regulations as being most significant to these financial statements. We communicated these identified frameworks amongst our audit team and remained alert to any indications of non-compliance throughout the audit. We ensured that the engagement team had sufficient competence and capability to identify or recognise non-compliance with laws and regulations. We discussed with the management the policies and procedures regarding compliance with the legal and regulatory framework. We assessed the susceptibility of the group's financial statements to material misstatement due to non- compliance with legal and regulatory frattjework. including how fraud might OCCUT, by enqutry with the management during the planning and finalisation stages of OUT audit and by using proprietary disclosure checklists. The susceptibility to such material misstatement was detertnined to be low. Based on this understandtng. we designed our audit procedures to identify non-compliance with the identified legal and regulatory framework, which were part of our procedures on the related financial statement items. Our procedures included reviewing the group's internal contro15 policies and procedures, reviewing the minutes of board meetings and correspondence with regulatory bodies including HM Revenue & Customs, testing transactions outside the nornial course of the business and journal entries, and discussions with the management. PARKWILL LILTrItTED INDEPENDENT AUDITOR'S REPORT TO THE MEIVIBERS AND TRUSTEES OF PARKWILL LI1￿llTED (Contini¢ed) FOR THE YEAR ENDED 31 MARCH 2025 AUDITORIS RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS (Coniiftued) Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some materTal misstatements in the financial statements, even though we have properly planned and performed our audit in accoTdance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inhereDtIy limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularitie5, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not ￿Sponsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. A further description of our responsibilities for the audit of the fInancial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibiliti¢s. This description fonns part of our auditor's report. USE OF OUR REPORT This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we Might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this reporL or for the opinions we have formed. Asher Sternlicht (Senior Statutory Auditor) For and on behalf of COHEN ARNOLD Chartered Accountants & Statutory Auditor New Burlington House 1075 Finchley Road London NWI I OPU Our audit was completed on ?f January 2026 and our opinion was expressed at that date. 10 PARKWILL LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES li (ll¥CLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Funds 2025 2024 Note lucome and endowments from: Donations and legacies Investtnents 272,350 1,144,753 6.597.096 642,189 Total income 1,417,103 7,239,285 Expenditure on: Investment rnanagement costs Charitable activities 886,466 747,519 527,117 968.616 Total expenditure 1,633,985 1,495,733 Surplusl(Defi¢it) on investment valuations and disposals 638,370 Net income/