Company regl$tr*tion number 04323368 (England and Wal•sl Ch•rlty r•gIStr￿on numb•r 1097871 {England and Wales) COMET CHARITIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 COMET CHARITIES LTD LEGAL AND ADMINISTRATIVE INFORMATION Trustees B C Joseph M Llsser L Wolf Country of IncOry￿ratIon United lfjngdom (England and Wale81 04323368 Charlty r•glstrat5on England and Wales 1097871 Reglstsrnd offlc• 63 Cranboume Garden8 London UK NW11 OJB Audltor Goldwins Llmlt8d 75 Maygrove Road Wesl Hampstead London NW6 2EG B•nk•r• Barclays 8ank PIC Sw188 Cottage Branth 131 Flnthley Road London NW3 6JA Matro B8nk Unll 1 Th6 Mall Edgware HA8 78D COMET CHARITIES LTD CONTENTS Page Trust88s' report Statement of tru8teas' respon8lbllllSe8 Independent audito￿5 report Statement ol nnanclal aclSwties Balance Sheet Stalemant of cash flow8 Notes to the flnandal 8tal8ments 10-17 COMET CHARITIES LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JULY2025 The trustees present their annual report and financial statements for the year ended 31 July 2025. The financial statemen15 have been prepared in accordance with the accountsng policies set out in note 1 to the financi81 statèmènts and comply with the Charity's govèming documènt. the Companies Act 2006, FRS 102 The Financial ReporUng Standard applicable In the UK and Republic of Ireland" and the ChBrtties SORP"Accountlng and R8porting by Charities.. Statement of Recommend8¢J Pradce applicable lo tharilies preparing their accounts Sn accord8nGe with the Financlal Reporting Standard appllcable the UK and Republic of Ireland IFRS 1021" OblectNes and actlvltl•s Obl•ctlves and alms The Charity's was established to support th8 advancement of Jewish religious education. Publ1¢ benefft The trustees have paid due regard lo guSdance188U84 by the Charlty Commi88lon In declding what actlvllles the Charity should undertake. Slgnlflc•nt •¢tlvltle8 Ouring the year, grants to schools and other charillos amounted lo £2,994,51812024.' £2.157,394). Grant maklng Grants are ma¢Je to charitable institulions and organls8tlons which accord with the obj'ects of the Charfty. Achlevements and perfonnanc• Charitabl• activiti•s Th8 Iruslees consider that the perfomance of the charity thls year has been mst salisf8clory. Substsntlal funds have been granted to Inslllulions during the perfod from the contribution8 received from don0￿. The S181em8nt of Fin8nci81 actlvi11&s show8 8 surplus lor the year of £105.588 aftor making grant3 of £2,994,518 and the reserves 9tsnd al1£10,8421. Flnanclal rovlew Prlnclpal fundlng Sourc•• The charity 1$ pleo¥ed and fortunate lo receivo donaUon8 frorn a number of org8nisations and Sndlvlduals. R•sary•$ pollcy During the year charitls income exceoded the gxpenses incurred. The trustees are sa115fied with the results for the year. The trustees do nat seek to maintaln reserves, other than to ensure that they can contlnue the 8ctivits.es of the charity. Going concern The accounts have been prepared on the going concern basis, The t￿Slee$ c￿sid￿r that thare are no malerbal uncertaintles warcllng the charity's ability to continue in operatlon81 exlstence for the fO￿Seeable future. which Is deemed to be 12 months from the dale of the approv81 of the financial slal8menl8. Rlsk management Thg trustaes have assessed Ihe major risks to which thfr Charity is exposod. Both manual and automated checks are regularly invoked, particularty those ￿13b'n9 to the operations and finance of Ihe charity. The trusto8s are Satisfied that systems and procedures miligale any perceived risks. FUTURE PLANS Thère are no significant futu￿ plans to rgport, other than to continue lo raise funds and make charitsble donations to continue to meel the current objectives. COMET CHARITIES LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 strncturo, goYornanc• and management Govorning document The Charity is ¢ontrolled by its goveming documènt, the memorandum and artlcles of associallon, and constitutes a company limited by guarantee as deflned by the Companies Act 2006. The trusleas. who are also the directors for the purpose of company law, and who served during the year and up to the dale of signature of th8 fin8ncial statements were.. 8 C Joseph M Lisser Lwo Retrultmont and appolntm•nt of now trustees If neces58ry, new Iruslees are recruited ftom the par50n81 contacts of eXiS￿n9 trustee8. Oryanlsatlonal ltructhro The trusl88s manag8 the day lo day running of the charity and make all decisions. Indu¢tlon and trnlnlng of new trii8t••8 Naw trustees undergo 8 brl8fing lo ensure they are awar8 of both thelr legal and prof6ssk)nal responslbilitses und8r chadty and company law. Audltor In accordance with tha company's atticles, a resolution proposing that Goldwins Llmiled be reoppolnled as auditor of the ¢ompany will be put at a G8ner81 Meeting. 018c108ur• of Infomvtlon to •udltor The trustee5 have conflmi8d that there is no Infomiation of whlch they aro 8ware whl¢h is relevant lo the audlt, but of whlch the audltorls unaw8re. They have further conflrmed that Ihgy have taken 8pproprlal$ steps to Identify such relevanl infomiats'on and lo establish that the auditor ig aware of such infoTmation. The trustees, asa ved by the Board of Trustees. M LIg8•T Tru5lee Dated.. COMET CHARITIES LTD STATEMENT OF TRUSTEES, RESPONSIBILITIES FQR THE YEAR ENDED 31 JULY2025 The trustees. who are also the directors of Comel Charflies Ltd for the purpose of company law, are responsible for preparing the Trustees. Report and the financial statements in accordanc8 with applicable law and United Kingdom Accounting Standards (United lQngdom Generalty Accepted Accounts"ng Pr8¢ticel. Cornpany law requlres the tru818es to prep8re financlal slalements for each financial year which give a true an¢J fair view of the slate of aff8irs of th& Charfly and of the incoming resou￿8$ and application of resourGes. including the Income and expenditure, of the tharitable colnpany for that y8ar. In preparing these financial statements. the trustees are requlred to.. select suitable accounbng policies and then apply them consislenlly., obseNe Ihe methods and princlples in th8 Charities SORP. make judgements and estimates that are reasonable and prudent- slate bvhether applicable UK Accounb'ng Slandards have been followod. subjact lo any material departures dlsclosed and explain8d in th8 financièl sta18m8nts', and prepare the financi818tatements on the going con¢em basis unless It18 Inappropri818 io pre$ume that the Charity will conllnu8 In operation. Tha trustees a￿ responsible for k88ping ad8quat8 8ccounts.ng records that disclose ￿th reasonable accuracy 8t any ￿me th8 flnancial position of the Charlly and enable them lo en5ura that the fSn8nc181 ststsm8nts comply wlth the Companles Act 2006. Th&y ara also responsible for safeguardlng the assets of the Charity and hence for taking reasonablg slgps for tho pr8venllon and d818ction of fraud and other Irr8gularrti88. COMET CHARITIES LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COMET CHARITIES LTD Opinlon W8 hav8 audited the finanaal statsments of Comel Charities Ltd {the 'Charity ) lor the year 8nde(131 July 2025 which comprise the slalement of fin8nci81 actIV￿&S, the ba18nce sheet, the slalement of cash fli)ws and not8s lo the rinancial staiernenls. Including significant accounting rx)liaes. The financial repor￿ng framewoik that has been applied in their preparation is applicable law and United Kingdom Accounb'ng Standards, indudlng Fin8n¢ial Rep0￿"ftg St8nd8rd 102 Th8 Financial R&porting Standard applicablo in the UK and Republic of Iraland (Unitsd Kingdom GenerallyAcc8pted Accounting Practlcel. In our oplnlon, the ffnanciol statements.. give 8 true and fair view of the slate of the charftable companrfs 8ffairs as 8131 July 2025 and of Its Incomlng resources and application of ￿sOurces. including Its Income and expenditure, for the year then ended.. have been properly prepared in accordance with United Kingdom Generally A¢cgpted Accounting Practice., and hav8 boen prepared in accordance Nmth the requirements of tho Companies Act 2006. Ba•1• lor oplnlon We conducted our audit in accordance with Intern81ional Standards on Auditing IUKI IISA8 IUK}18nd applicable law. Our responslbililies under those standards are further described In the Audltorts ffjsponslbilitles lor the Budit ol the financial slatornents section of our report. We are independent of the CharSly in accordanco with the ethical requirements that are r818vanl lo our audit of the financial slalemenls in th8 UK. including tha FRC'S Ethical Standard. and we have fu￿111ed our other ethical responslbililies in accor(J8nce wth these requirements. We belleve that the audk evldence we have obtained is suffident and approprfale to provide a b8s18 for our oplnlon. Con¢lu•lon¥ r•l•llng to golng C9n￿rn In audillng the fln8ncI81 stslem8n18, we have concluded Ihal lh• truslaos, use of thè golng concern ba8ls of accounllng In the pr¶bon of the financial statements is approprlote. Based on tho work wo havg performed, wo have not identified any materfal uncertainties relallng lo events or conditions that, individually or collecllvely, may cast slgnlflcanl doubl on the charlty's ability to continue as a going concem for a pedod of al least twelve montrs from when the flnandal statomonts are aulhorised for issue. Our responslbililies and Ihe responsibllilies of the direclors with respect to going concern are described In the relevant sections of this report. Othèr Inforn?atlon The other inform3tion comprls•s th8 Inforniallon induded in the annual report other th8n th8 fin8ndal stslemenls and our auditor's report Ihereon. The trustges 8re rgsponsible for the other Informa￿On contalned wlthSn the annual report. Our opinlon on the financial statements does not cover the other information and, except to the extent othe￿ise explicidy stated in our rBPOrt. we do not expr8ss any form of assur8nc& conclusion thereon. Our responsibility is to read the other infomiation and. in doing so. consider whether the other infomation Is materially Inconsistent wrth the financial statements or our knO¥￿edge obtained in the course of the audit, or olherwise appear5 to be materially misslaled. If we Idents'fy such material inconsislencie$ or apparent material mlsst8lements, we are required to determine whether this gives rise to a material misstalemenl in the fin8ncial statemonts themselves. If. based on the work we havè performed, w8 conclude that there is a material mi55tatemenl of this othar 1r￿orma￿.0n. we arg required lo report that fact. We have nothlng lo report In thls regard. Opinions on other matters proscrlbed by th• Comp*nies Act 2006 In our opinion, based on the work undert8k8n in tha course of our audit.. the informats'on given in the trustees. report for the financial year for which the financial statements arè prepared, which includes the directors. report prepared for the purposes of company law, is consistent with the Inancial stalemenls,. and the directors, ￿port included wthin the trustees, report has been Prepared in accordance with applicable legal r8quirernents. COMET CHARITIES LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF COMET CHARITIES LTD Matters Qn whlch we ara r•qulred to report by exceptlon In the I￿ht of the knowledge and understanding of the Charity and ils envlronmenl obtained in the course of the 8udit, we have not identified m818ri8l misslatemenls in the directors. report included wfthln th8 trustees, report. We have nothbng to Tep¢Jrt In rèspect of the foll(Mlng matters In relatlon lo which the Companies Act 2006 requires us lo report lo you rf. in our opinion.. 8deqvate accountlng r8cords have not been kept, or relums adequate for our audit have not been recelved from branche5 riot ￿SIted by us- or the financial slalements 8re not in agreement with the accounting records and retums.. or certain disclosures of Irustses, remunaralion specAfied by law are not mado,. or we have not recelved all the Inforrnallon and explanalk)ns we require for our audit., or the trustees were not enlllled to prèpare the fln8nd81 slalemenis in 8ccord8nce with the small companles reglme and lake advantage of the small companiès, 8X8mption8 in preparfng rh8 trustees. report from the requlrernenl lo prepare a strategic report. R•spon•lbllltl•i of trugts•s As expl8ln8d mor8 fully In tho slalomenl of Irusleos, responsibilities, Ihg iru$tee$. who are also th8 directors of th Charity for the purpos8 of company18w, are responsiblè for th8 pr8paration of the Ilnanual statements and for belng satisfied that they glve 8 true and fair vlew, and for such inlemal control Bs the Irusleeg determin8 Is necessary lo enabl8 the preparation of flngndal siBt8m8nts that are free from maledal mlsslalemenl, whether due to fraud or error. In preparing the financial slalemenls, th8 trusl8es are reSpOn￿ble for ass8sslng the Charity's ability to continue a5 a going concern, disdosing, as applicable, matter8 Telaled to going concem and using the going concem basi5 of accounting unless the Iru51ees either intend lo liqul¢Jat8 the charitabla company or to cease operallons, or have no roall81Sc 8llemallvo bul lo do so. Audltorf8 r•spon*lbllltl•• for th• audlt of th• flnan¢lal •tst•m•nt• Our obloclives are lo oblaln r8ason8ble assurance about whelher the fTrnandal statements as a whole are free from material misstat8mant, whathar due to fraud or error, and to issue an auditor's report that includ8s our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misslal8menl when 11 exists. mi8stal•m8nts can arise from fraud or error and are consldered material if, Indi￿duallY or In the aggreg816. they could reasonably be 8XPèCted to Influence thè economic decisions of usars taken on the basis of these financi81 ststem8nts. Irrggularities are inslances of non•cornpliance with laws and regulation8. The objectives of our audit are lo obtain sufficient appropdate audit evidence regarding cLJmpllance with laws regulauons that have a dlrect effect on the determinafjon of material amounts and disclosures in the financlal slatemenl8, to perform audit procedures to help identify instances of non-compliance wlh other laws and regulations that may hav8 a material effect on the financial slalements, and lo ￿Spond approprfalely to Idenlfled or 8U8pected nowomplianca with la￿ and ￿gUlatIonS identified during the audit. The exlenl lo whlch our procedurès are capable of detectlng IrregularllSe8, Includlng fraud, is detailed below. COMET CHARITIES LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF COMET CHARITIES LTD In identifying and assesslng rfsks of malerfal misslalement in respect of irregularitie5. including frAud and non- compliance with laws and regulab'ons. our procedures included the followng.. We enqulred of m8nag9menl, whlch Induded oblainlng and re￿ewIng supporting documentstion, conG8ming the charity's polici8s and procedures relating to the internal controls established to mitigate risks r8lat8d to fraud or non-compliance with laws and regulations. We reviewed the fln8ncial stslement disclosures and tested these lo supporting documentation lo assess comp1I8nce with applicable laws and rggulations. In addr8sslng the risk of fraud through management overrfde ol controls, we lesled the appropriateness of loum81 entries and other adjustments. ossessed whether the judgemenlg made in making accounting 8slimal8s are indicative of a potential bias 8nd lested Significant transactions thal are unusual or those oulslde the norm81 course of buslness. Because ol the inherent limilab'ons of 8n audit. thara is a rlsk that we wlll not d8lect all Irregula￿tIes, Including Iho8e leading to 8 m8terial misstatement in the financlal stalernen15 or non-compllance wlth regulallon. The rtsk s also greater regarding irregularities occurring due lo fraud rather than enor, as fraud involv¢s intentional conc881menl, forgery, collusion. omission or misrepresentation. A luther deserlption Of our r8sponsibiliti8s is avallable on the Flnanclal Reportlng Coundl's w8bslte at.. http8:11 wwhv.frc,org.uklauditor¥re$ponsibillles. This descrlplion forms part of our auditorfs report. Us• of our r•port Thls report Is m8d& 801ely lo the charitable company's members. as a body. In accordance wllh Chapter 3 of Part 16 of the Companies Acl 2006. Our audit work has boon undertaken so Ihal we mlghl state lo the charitable eompany's members Ihosa mattars w8 are required to slate to them an auditor's report and for no other purpoge. To the fullest extent permitted by law, we do not accept or a55ume ￿SponsIbl11ty 10 anyone other than the charitable company and the charitable company's membèrs 88 a body, for our audll work. for this reporL or for the opinlons we have formed. rlAryEp Anthony Eplon IS•nSor Statutory Audltor) For and on behalf of Goldwlng Llmited, Statutory Audltor Chartered Accountants 75 Maygrove Road West Hampslead London NW6 2EG Data.. 17 Aprll 2026 COMET CHARITIES LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2025 Unr•strlct•d R•strict•d fund funds 2025 2025 Total Unreslricl8d funds 2024 Restrfcted funds 2024 Totsl 2025 2024 Not•s ncom• Donations and legac4es Investrnenls 1,595.906 1,644,421 3,240,327 1,846.466 17 543.452 2,389,918 17 Total Income 1.595.910 1,644,421 3.240,331 1,846,483 543,452 2.389,935 endlture on". Raising fund8 217 217 54,445 54.445 Ch8ntable actiwts88 1.490,105 1,644.421 3.134.526 1,734,824 543.452 2,278,276 Total •xpendlturn 1,490,322 1,644,421 3.134,743 1.789,269 543,452 2,332,721 Net Income for th• y•arl movement In lund• 105,588 105,588 57,214 57,214 Fund balances ot 1 AugLt812024 1116,4301 1118,4301 {173.6441 {173,6441 Fund balanc•8 at 31 July 202S 110,842) 110,8421 1116,4301 {116,4301 The 81al8mènl of finandal advitl88 includ88 all gain8 and Ios888 recognls8d In thè yèar. The statement of financial aclivlll88 includes all galns and losses recognlsed in the year. All Income and expenditure derive from conllnulng acllvities. The ststomonl of flnancial actjvilies Blso complies wlh the requlremenls for an Incryne 8nd expenditure account undar th8 Companies Act 2006. COMET CHARrriES LTD BALANCE SHEET ASAT31 JULY2025 2025 2024 Note• Currnnt a•Jets. ..-- Cash at bank 8nd in hand 68,958 27,149 ¢rndltorn: amounts falllng du• wlthln on• y•ar 13 14,8001 {8.5791 Net current 8ssets 64,158 18.570 Crgdltorn.. amounts falllng du• aft•f mor• than one yeor 14 175,0001 (135,0001 N•1 Ilabllltl 110.8421 {116,4301 The funds of the Ch•rlty Unr051rfcted funds 110,8421 {116,4301 110,8421 {116,4301 Th8 flnancl81 S enl ere 1610412026 proved by Ihe trustees on .............. er Tru*t•• Company r8gSstratlon number 04323368 (England and Wales) COMET CHARITIES LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY2025 2025 2024 Not•s Cash flows from operntlng actlvltle$ C85h gèn8ratèd from op8rab.ons 105,584 64,697 Investlng actlvltles Investment income received 17 N•t cash gfjn•rJted from Inv•stlnq actlvltle$ 17 Flnanclng actlvltle4 Repayment of borrowlngs Repayment of bank loans 160.0001 13.7791 {60,0001 {10,2411 N•t cuh u•od In flnan¢lng •cllvltl•s 163,779 170,2411 Net Incr••••lld•crna••l In cash and c••h •qulval•nts 41,809 15,5271 Cash and cash equivalents al beglnnlng of year 27,149 32,676 ¢uh and u•h •qulval•nt• at ond of year 68,958 27,149 COMET CHARITIES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY2025 Accountlng pollcles Charty Inforniation Comet Charities Ltd is a private company limited by guarantee incorpor8led In England and Walas. The registered office is 63 Cranbourne Gardens, London. NW11 OJB, UK. 1.1 8a818 Ot preparatlon Th8 financial statements have been preparad in accordance with the Charity's goveming document, thè Compani8s Act 2006, FRS 102 "Th8 Financial Reporting Standard applicable in the UK and Republic of Ireland" I"FRS 102.1 ond the Charitie8 SORP "Accounting ond Reportbng by Charftl8s.' Slalement of Recommended Practice 8pplic8ble lo charities preparing their a¢￿￿ntS in accordance with the Finandal R8porU'ng Standard applicable In the UK and Republic of Ireland IFRS 102)" leffective 1 January 20191. The Charlty is a Public 88n8fit Entity as define(I by FRS 102. The flnaneSal statements ar8 prepared In slertlng, which Ss the fijnctional currency of the Charlty. Monetary amounts in Ihe8e financial statements are rounded lo the ne8r8St £. The financial 5tatem8nls have bean pr8pared under the historical cost convenllon. The prinapal accounting poliele5 adopted are sel out below. 1.2 Golng conc•m The other creditors confim their ongoing support of the charity via loan advancgs. Al tho lime of approving th8 fin8nclal stslements. the Iruslees h8ve 8 reason8ble expectatlon ihgt tha Charfty hag ad8qu8t8 resources to continue in oper8tional existence for the foreseeable future. Thus the trustees conllnue lo adopt the going conc8rn basls of accounting in pr8paring th8 financial slal8ments. 1.3 Ch•rlt•bl• fund• Unrestricted funds are avai18ble for use al the dlscrelion of Ihe trustees in furtherance of their charitabl• objectives. Restricted funds are subject to specific conditions by donors or grantors as lo how Ihey may be used. The purposes and uses of the r8Strfci8d funds are s81 OLrt In the notes lo the financial stalemenls. Entlowmenl funds are subSecl lo speclfic condltions by donors that the ￿pital musl be malntaSned by the Charity. 1.4 Incom• Income is recognised when the Charity is legally enlilled lo il 8ft8r any performance conditions have been met. the amount5 can be measured reliably, and it 15 probable that income will be rec8Sved. Cash donations are recognised on receipt. Other donations are recognis8d once the Charity has been notified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds ol wvenanl is recognised at the time of tho donation. Legacies are recognised on receipt or otherwise rf the Charity has been notified of an impending dislribulion, the amount is known. and receipt is expected. If the amount 15 not known, the legacy is treated as contingent asset. 10- COMET CHARITIES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 JULY2025 Accountlng policlos IContlnu•d) 1.5 Expendlture Expenditu￿ is recognlsed once there is a leg81 or constructive obligatlon lo make a payment to a Ihlrd paty, 51 is probable thal settlement will be required and the amount of the obligation can be measured reliably. Expanditure is dassifi8d und8r th8 following activity h8adings'. Costs of raising funds ¢Dmprise of costs incurred by the Gharitable company In Induung third parties lo m8ke voluntsry contribubons lo it, as well as the cost of any activitSes with a fundraislng purpose. Expenditure on charitsble aciiwlles includes the costs of delivering ser￿CeS undertaken lo further the purposes of the charity and their assoelated support costs. Other expenditure represents those items not falllng into any other heading. 1.6 Ca•h and cash •qulvalents Cash and cash 8qulvalents Includ8 cosh In hand, deposlls held al call wlth banks, oth8r short.temi Ilquld inveslrnents with original maturities of three months or less, and bank overdrafts. Bank ovordrafts are Shown wilhln borrowings in curr8nl li8bllilies. 8•sk fln•ncl•l •Bs•ts B89ic linanclal assets, which include debtors and c8sh and bank balances, are inlllslly me88ured at 1r8nsacts.on prlce Includlng Ir8ngaclion c08ts and are subsequently c8rrfed at amortised cost uslng thè effedve Inlgresl method unl8ss th8 8rrangèm8nt constllul8s a financing Iransaclion, where the Ir8nsacllon 18 measured al tha pr8sant value of Ihg futur8 r8caipts dlscounted at a market ralè of interest. Financial assets classifi8d as receivable within one year are not amortised. B•slc fin•ncl•l Ilabllltl•s Bas1¢ flnandal liabilllles, Includlng credltors and bank loans are Inlts'ally recognls8d at transaction prlce unless the arrangement con3tltutes a financing Iran88clon, where Ihe debt instwmenl Is measured at the present valu8 of the futur8 payments discounted al a markel ralg of interest. Financial liabililies dassified as payable thln one year are not amortised. Debt Instsumonts ore subsequently c8rrled 8t amort+sed cost, using the effective Interest rale m&thod. Trade creditors are obligations lo pay for goods or services that have been acquired In th8 ordinary course of operations from suppliers, Amounts payable are classified as current liabilllles if payment is due within on8 year or less. If not, they are presented os non