Registered number: 04759599
Charity number: 1098206
MACCABI GB
(A company limited by guarantee)
TRUSTEES. REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

MACCABI GB
IA company limited by guarantee)
CONTENTS
Page
Reference and admlnlstratlve detalls of the charlty, Its Trustees and advlsers
Trustees. report
3-13
Independent auditors. report on the financial statements
14-17
Consolidatgd statement of financial activities
Consolidated balance sheet
19-20
Charity balance sheet
21-22
Consolldated statement of cash flows
23
Notes to the financial statements
24-46

MACCABI GB
IA company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2025
Trustees
M Ziff, President
J Prevezer, Chair
l Aarons
J J Hildebrand
J Jacobson (appointed 18 December 20251
B Kalms lappoinled 31 March 20251
N Kenton
Lady D Keslenbaum
MJLevy
J Nathan
A Wagner
Company registration number
04759599
Charity registration number
1098206
Registered office
The Stanley S. Cohen OBE Centre
Shaftesbury Avenue
Kenton
Harrow
HA3 ORD
Chief executive officer
Ashley Lerner
Independent auditors
Nyman Libson Paul LLP
Chartered Accountants
statutory Auditors
124 Finchley Road
London
NW3 5JS
Bankers
Barclays Bank UK PLC
1 Churchill Place
London
E14 5HP
Page 1

MACCABI GB
IA company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2025
Solicitors
Womble Bond Dickinson IUKI LLP
4 More London Riverside
London
SE1 2AU
Page 2

MACCABI GB
IA company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustees present their annual report together with the consolidated audited financial statements of the
charity for the year ended 31 December 2025. The annual report serves the purposes of both a Trustees. report
and a directors, report under company law. The Trustees confirm that the annual report and financial statements
of the group and parent comply with the current stslutory requirements, the requirements of the charitable
company's governing document and the provisions of the Statement of Recommended Practice ISORPI
applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland IFRS1021 leffecb.ve 1 January 20191.
Since the group qualifies as small under section 382 of the Companies Act 2006, the strategic report required of
medium and large groups under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations
2013 has been omilled.
Structure, governance and management
Governing Document
Maccabi GB was established as a charitable company limited by guarantee on 9 May 2003 under company
number 04759599 and Is registered with the Charity Commission under charity number 1098206. The charity's
affairs are governed by its Memorandum and Articles of Association which allow for any activities covered by the
charity's objectives with no specific restrictions. The liability of the members in the event of the company being
wound up is limited to a sum not exceeding £10.
The charity purchased the share capital of Maccabi GB120211 Ltd, a wholly-owned subsidiary incorporated on 10
May2021.
The charity also purchased the share capital of EMYG 2024 Ltd, a wholly-owned subsidiary incorporated on 10
September 2023. The subsidiary was dissolved post year end on 23 April 2026.
Trustees
The Trustees of the charity are also the directors of the company for the purpose of company law and any
reference to Trustees is therefore also lo directors. Those who served during the year ended 31 December 2025
were..
M Ziff, President
J Prevezer, Chair
l Aarons
J J Hildebrand
J Jacobson (Appointed on 18 December 20251
B Kalms (Appointed on 31 March 20251
N Kenton
Lady D Kestenbaum
M Levy
J Nathan
A Wagner
Oryanisational structure and decision making policies
The board of Trustees Is the governing body which administers the charity. All major decisions are made by the
Board which meets regularly to discuss and formulate policy and to decide on strategy. A scheme of delegation
Is in pla￿ and day to day responsibility for the affairs of the charity (including operational matters) rests with the
Chief Executive and the professional team.
Page 3

MACCABI GB
IA company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Induction and training of Trustees
The Charity ensures that any volunteer, member of staff or Trustee of the organisation undergoes an in depth
Induction prO￿$s. Specifically, every Trustee is shown a short film about Maccabi GB detailing the breadth of
work undertaken by the Charity. They receive a health and safety briefing with information about the Maccabi GB
office environment and the risk assessment process that is completed at all programme and event venues.
Additionally each Trustee spends lime in the office gaining knowledge of what Is done on a day to day basis.
They see each department individually to understsnd the annual calendar and to meet the team.
Risk management
The board of Trustees is responsible for the management of the risks faced by the charity.
All major risks to which the charity is exposed have been identified, assessed and controls established as
appropriate.
The major strategic and operational risks which the charity faces include the loss of Income due to lack of
donations and, to a lesser exlenl, exchange rate fluctuations.
The Trustees have examined these risks and Confirm that systems have been established to enable regular
report5 to be produced so that the necessary steps can be taken lo lessen these risks. The Finan￿ Committee
closely monitors expenditure against budgets on a bi monthly basis and any variations are immediately reported
and acted upon. Cash flow is also reviewed, and is monitored on a weekly basis.
Objectives and activities
Maccabi GB is Britain's leading Anglo Jewish Sport, Health and Wellbeing Charity. Part of a global movement
operating in over 70 countries, our mission Is lo support the long term future of British Jewry by engaging and
developing the entire Jewish Community with a broad range of sporting, educational, social and health and
wellbeing activities, whilst promoting Jewish Identity and the centrality of Israel.
As a Jewish Charity operating in the recreational arena, we are reaching more people today than at any time in
our history.
Each year, through approximately 250 targeted projects, programmes and events, we reach over 70,000 people
nationally. A dedicated team of professionals and volunteers, based in London, the North of England and
Scotland, achieves this.
The annual programmes we create are designed to engage as many members of the Community as possible via
a diverse range of opportunities. From operating in a significant number of Jewish Schools In Britain, lo
participating in the Ma￿ablah Games In Israel, from attendance at the Maccabi GB Community Fun Run, lo the
Elliott Simmons Challenge Israel Tour for young people with mild lo moderate learning difficulties. No matter how
old you are. what ability you may possess or religious observance you hold, Mawabi GB strives 'for an active
Jewish Community,.
In setting objectives and planning for aclivilies, the Trustees have given due consideration to general guidance
published by the Charity Commission relating lo public benefit, including the guidance 'Public benefit.. running a
charity IPB21'.
Page 4

MACCABI GB
IA company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Achievements and performance- MACCABI GB IMPACT REPORT AND 2026 PRIORITIES
A healthy, active and proud Jewish community integrated within Brrtish society,
Maccabi GB'S mission Is to create inclusive sporting, community and educational experien￿$ that strengthen
Jewish identity, enhan￿ wellbeing and Inspire engagement in the Jewish community, Israel and beyond.
In 2025, this mission has fell more relevant than ever. In the context of rising levels of antisemilism, increased
pressures on wellbeing and declining participation in physical activity, the significance of a healthy, active and
proud Jewish community has become increasingly important.
Your support has enabled Maccabi GB lo sustsin core activities, broaden participation in sports activities across
the community and continue delivering education programmes. Thousands of children, young people and adults
across schools, universities and community sellings have benefited, while also slrenglhening Maccabi GB'S role
as a trusted partner within British sport, education and the wider community.
1. S ort Health and Wellbein
Sport, Health and Wellbeing Is a top priority across all demographics of the Jewish community, responding not
only lo the health crisis in British society bul also addressing the lack of coordinated provision within the Jewish
community-
Maccabi GB is engaging with Sport England and its 'Active Lives, survey lo measure the levels of physical
activity within the British Jewish community as compared to the baseline of the population. The lalesl data
120221231, shows that 26.2'/o of the Jewish population was inactive, engaging in less than 30 minutes of
physical activity per week. This was higher than the national average of 25.7'/o. Only 10.8019 of the Jewish
population was considered faidy active, participating in 30-149 minutes of physical activity weekly, compared to
the national average of 10.9'A. These figures highlight the importance of inclusive sporting opportunities within
the community.
Maccabi GB'S programmes are designed to make participation in sport accessible to all ages, abilities and levels
of observanTr, improving health and wellbeing while also creating opportunities for connection and identity. Our
strategy also focuses on creating inclusive opportunities that reach underserved groups, including Charedi and
SEND students. university students, and grassroots participants as well as ensuring Jewish athletes can
represent Great Britain intemalionally.
Sport, Health and Wellbeing- 2025 Key Achievements..
6,500+ children participated in 23 inler-school tournaments (table tennis, badminton, netball, football) across
28 Jewish schools with 2,800 spectstors.
Weekly PE lessons delivered in four primary schools, including one Charedi and one SEND school,
engaging 600 children per week.
Engaged over 250 Jewish university students through JSOC UJS Netball events and 16 teams from across
the country participated In the UJS Football Cup.
Increased our provision of Grassroots Sports clubs, currentty rLJnning nine regular clubs in tennis, table
tennis, netball, walking football, lawn bowls and four basketball clubs with plans to introduce more.
Delivered six community SF)Orts events with over 260 people attending in basketball, padel, tennis, pickleball
and walking football, giving people of all ages and abilities the opportunity lo tske part or trial new sports.
Page 5

MACCABI GB
IA company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
29 teams took part in the Peter Morrison Football tournament, including six northern teams and, for the first
time ever, four JSOC teams.
Successful launch of Dancing Strictly London, where 12 community members (ages 20-70+1 learned to
ballroom dance in six weeks, performed in front of 300+ people and raised funds for 12 Jewish charities.
98 charities and over 4,500 people attended the Maccabi GB Community Fun Run, the largest annual cross-
communal event.
55 alhleles represented Team GB al the 2025 JCC Maccabi Games in Pittsburgh, competing in U15 and
U17 basketb811, footb811, tennis, swimming, dancing and athletics. They trained weekly, attended bonding
events and delivered a record-breaking performance with 44 medals". 27 gold, 11 silver, and 6 bronze.
Impart..
Enabled thousands of Jewish individuals lo engage in regular physical activity, helping to reduce inactivity
and associated health risks.
Created safe, inclusive spaces for wellbeing and connection.
strengthened Jewish identity and pride through participation in sport across all life stages.
Improved wellbeing, confidence, social connections and mental health. For example, a walking football
participant shared that regular training sessions and post-match socialising have helped them cope with
bere8vement, anxiety, and loneliness.
Strengthened Jewish pride and visibility through school tournaments, grassroots clubs, and the Junior
Netball League, where young people proudly compete under the Maccabi GB banner.
University sport has proved a powerful tool for sustaining Jewish student engagement at a ts'me when many
report feeling isolated on campus. Participants describe the lournamenls as providing a safe space lo
connect with peers, express Jewish identity confidently and build a sense of belonging beyond academic life.
Challenges..
The postponement of the 2025 Maccabiah with less than three weeks to go was understandable but
disappointing for participants and staff. Participant retention remains strong, with approximately 400 individuals
continuing lo lake part in the rescheduled Maccabiah in July 2026. We also hope lo grow the delegation for
2026, expanding the Games, reach and impact to include other sports.
2026 Plans and Priorities:
Sports ForAII.'
Launch Maccabi GB Mini Maccs- toddler football.
Launch the Sports Development Programme ISDPI for sport-minded youth aged 14-18, integrating SFX)rt,
leadership, volunteering, and Jewish identity development.
Launch sports provision for early parenthood starting with pilales for pwnanl and postpartum participants,
funded by Sports England's Movement Fund.
Page 6

MACCABI GB
IA company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Launch Parents, Football and Netball Leagues.
Expand grassroots provision for different sports and to increase involvement of different demographics
including programmes for women and SEND.
Communlty Sports."
Deliver female-focused sporting events lo engage more women in sport and coincide with International
Women's Day in March.
Host a variety of community sports tournaments featuring a range of sports lo encourage wider involvement
and engagement.
Build on the success of Dancing Strictly London by establishing il as an annual eommunity event.
Enhance the Community Fun Run following a review with the Strategy Committee, focusing on increased
participation and improved runner and spectator experience.
Establish a community fundraising boxing event lo diversify our sporting offer, generate additional revenue
and attract new audiences to our events calendar.
Intsrnatlonal Games..
Deliver postponed Ma￿ablah Games in July 2026 and the Jewish identity programme at Pre Camp.
Unfortunately due lo the ongoing situation in the Middle East, a much smaller delegation than planned will be
attending the Maccabiah Games and there will be no Jewish identity programme taking place.
Build on our suceesses with JCC and represent Maceabi GB al the 2026 JCC Maceabi G8mes in Toronto,
under the leadership of newly appointed Heads of Delegation.
The Maccabi GB Strollers Walking Football club and the Maccabi GB Lawn Bowlers team both look part in
competitive lournamenls in Israel, alongside several meaningful visits to sites across Israel, all organised by
Maccabi GB Honorary Life President stuart Lusligman.
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MACCABI GB
IA company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2. Education and Develo
ment of Jewish Peo
le
Maccabi GB delivers educational programmes that strengthen Jewish identity, community engagement, and
leadership skills. Informal education is embedded across our work from sports training lo community events,
enabling participants lo develop life skills alongside their engagement with Jewish culture and heritage.
Education and Development of JewiTsh People- Key 2025 Achievements..
20,000+ Yellow Candles distributed through schools, care homes, and community organisations in the UK
and abroad were lil on Yom Hashoah, engaging the community in Holocaust remembrance as well as
Maccabi GB'S participation in an in-person ceremony lo mark 80 years since the liberation of Bergen-Belsen
by the British Amied Forces.
23,000 young people reached through 770+ stree￿ise sessions in 70 Jewish primary and secondary
schools, youth and community organisations on contemporary anlisemitism, personal safety and anb"_
bullying as well as Krav Maga sessions in partnership with CST.
As part of M8ecabi8h Management training, eight training workshops were delivered 10 8dult man8gers and
over 20 sessions lo young Maccabiah athletes.
A delegation of seven Israelis from Maccabi Tzair delivered 46 sessions lo over 3,000 people in schools and
care homes in London and Manchester.
Impact and Outcomes."
strengthened Jewish identity and community engagement through education programmes.
Increased awareness of antisemitism and personal safety among thousands of young people.
Leadership skills and teamwork developed in young athletes through Maccabiah preparation and coaching
workshops.
The scale of the Yellow Candle Project ensures that Holocaust remembrance remains a living, communal
act rather than a passive observance.
Chall8ng8s.'
The post-october 7th landscape has led to challenges in delivering programmes in Jewish secondary
schools, with multiple organisations competing in antisemitism education. CST is supportive of a strategic
refocus on contemporary antisemitism and personal safely training, and lo rebrand stree￿ise to align with
CST to strengthen credibility, marketing and school access.
With the historic 'Maccabi Leadership, programme experiencing a drop In participation, we have devised a
new Strat￿lC direction for long-lerm engagement of youth and adults as part of a newly developed Sports
Development Programme for 2026.
2026 Plans and Priorities:
Rebranding of Streetwise in close partnership with CST.
Develop Jewish Identity and leadership programmes to be delivered as part of the new Sports Development
Programme, that is launching in 2026.
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MACCABI GB
IA company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
3. Contribution to British Socie
Maccabi GB aims for greater cohesion in Britain resulting from raising awareness of antisemitism and
discrimination by delivering educational projects in schools and within the world of sport and providing cross-
cultural opportunities through community and sports programmes.
Our educational programmes equip both young people and professionals lo recognise and challenge prejudice in
schools, sports clubs, and community settings. High-profile partnerships with government, sport bodies, and civic
organisations have strengthened Maccabi GB'S Influence, helping lo shape policy and practice on antisemitism
and inclusion.
Interfaith initiatives, Including the Interfaith Wellbeing Festival, create spaces for dialogue, collaboration, and
shared community experiences, highlighting the positive contribution of the Jewish community lo broader society-
Contribution to British Society- Key 2025 achievements..
91 workshops delivered to 2,200+ participants al Premier League, EFL and County FAS including pre-match
steward briefings at major stadiums and our first workshop delivered to the Barnel FC First team.
Delivered our first Tackling Antisemitism in Sport Symposium at Arsenal Football Club, in partnership with
Lord Mann, HM Government's Independent Adviser on Anlisemilism. 100 professionals attended from clubs,
regulators and International partners and explored the current landscape of antisemitism in British sport, the
lived experiences of Jewish professionals and supporters, and the opportunities and challenges within
organisational Equality, Diversity, and Inclusion IEDII strategies.
17,000+ students reached through Stand Upl Eduealion Ag8inst Discrimination workshops in 69 mainstream
secondary schools nationwide.
100 Year 10 students from 10 schools participated in the Alan Senitt Upstsnders Leadership Programme,
promoting interfaith understanding, leadership, and volunteering.
36 charities and 1,000 participants attended the Interfaith Wellbeing Festival which involved a full day of
activities, talks and performing arts al Paddinglon Recreation Ground.
Regular meetings with Govemment ministers and increased visibility within government, sport and
mainstream society including joint Chanukah events with the FA at Wembley, Parliament at Westminster
and with Jewish football supporter groups.
Impact and Outsomes..
Raised awareness and capability to tsckle discrimination and antisemitism among sports professionals and
students.
Promoted interfaith understanding and collaboration.
The Sland Upl project continued its successful output into mainstream British schools, with proven
outcomes as measured by ils monitoring and evaluation tools.
Posl-workshop evaluations showed meaningful improvements in students, attitudes and confidence..
)) +12OA in awareness and concern for others
>) +10OA in challenging prejudiced behaviour
)) +110/0 in ￿porting hate offline
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MACCABI GB
IA company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
)) +90/0 in reporting hate online
2026 Plans and Priorities:
Expand Tackling Antisemitism in Sport both within the football pyramid and in additional sports, such as
rugby and cricket.
Continue advising and meeting with government officials to tackle antisemitism in sport.
Prlorltles for the next 12 months
In 2026, Maccabi GB will focus on consolidating and deepening impact across sport, education and community
engagement. Key priorits'es include..
Broadening access to sport and wellbeing provision across the community, with a particular focus on
women, SEND participants, early years and new parents.
Embedding healthy habits from an earfy age through the launch of Mini Maccs and early years programmes.
Supporting new parents through targeted physical 8clivity programmes, beginning with Pi18tes for pregnancy
and postnatsl wellbeing funded by Sport England's Movement Fund, as well as the launch of new Parents
football and netball leagues, where parents from Jewish schools participate in regular matches representing
their respective schools.
Developing future Jewish sports leaders through the launch of the Sports Development Programme for
young people aged 14-18, integrating sport, leadership, volunteering and Jewish identity.
Delivering the postponed Maccabiah Games and Jewish Identity Programme at Pre Camp, ensuring
participants benefit fully from the experience despite the delay.
Strengthening the response to antisemitism in sport and education, including the expansion of Tackling
Antisemitism in Sport both within the football world and into additional SF)Orts.
Rebranding and refocusing the Stree￿ise programme in partnership with CST.
Building long-lerm suslainabilily and impact, through improved monitoring and evaluation, strengthened
governance and strategic oversight.
Page 10

MACCABI GB
IA company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Financial Review
The Consolidated Statement of Financial Activities sel out on page 18 of the financial statements shows how
Maccabi GB'S Incoming resour￿$ have been expended during the year ended 31 De￿rnber 2025.
Total incoming resources amounted lo £1,866,523 12024. £2,795,205) generated by way of donations and
I￿acleS of £993,630 12024.. £306,068), activities in furtherance of Maccabi GB'S objectives of £819,270 12024..
£898,5261, Income from other trading activities of £39,728 12024. £1,571,252) and returns on Investments of
£13,89512024.. £19,359>. An analysis of the Incoming resources is provided In notes 4 10 7.
Resources expended amounted to £1,653,705 12024.. £3,134,902) of which £1,627,253 12024.. £1,681,237)
relates to direct charitable expenditure, and £26,452 12024. £1,453,665) relates lo the costs of fundraising. An
analysis of the resources expended Is provided in notes 8 to 10.
Gains on revaluation of the investment portfolio al the year end amounted lo £64,162 12024.. £42,302). The
resulting excess income for the year was £276,98012024'. excess expenditure of £297,395), which comprised of
a nel increase on the endowment fund of £26,76312024'. net decrease £13,663), a nel increase on the restricted
funds of £234,28012024.. £34,4611 and a net increase on the unreslricled funds of £15,93712024'. net decrease
£318,3731-
The balan￿ sheet sel out on page 19 of the financial statements shows the financial position of Maccabi GB at
31 December 2025.
After deducting the charge for depreciation, the net book value of fixed assets was £2,047,340 12024..
£2,083,952).
Fixed asset investments of £662,290 12024.. £603,242) is the market value of the investment portfolio at the
balance sheet date, which is held as part of the endowment fund.
Current assets are represented by debtors of £1,146,018 12024. £1,696,918) and cash at bank and in hand of
£997,401 12024 £143,453).
Nel assets amounted to £3, 140,237 12024.. £2,863,257) which Is represented by the closing balances on the
restricted funds of £550,863 12024.. £316,583). endowment fund of £403, 181 12024. £376,418) and general
unrestricted funds of £2, 186,193 12024.. £2,170,256) Icomprising designated funds of £2, 123,067 12024..
£2,140,252) and general funds of £63,12612024.. £30,0041.1
Maccabi GB relies very much on the financial support of our Patrons and all of our supporters, lo whom we wish
lo express our sin￿re thanks.
Going 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 lo adopt
the going con￿rn basis in preparing the financial stalemenls. Further details regarding the adoption of the going
COn￿M basis can be found In the accounting policies on pages 24-27.
Reserves policy
11 Is the desired policy of the charity that unrestricted funds which have not been designated for a specific use
should be maintained at a level equivalent to between three and six months, expenditure.
Due to the nature of the charity's work, the reserves policy is such that expenditure is Incurred as required and
reserves are maintsined at a level lo meet ongoing commitments. The charity does not actively try and maintain
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MACCABI GB
IA company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
any surplus reserves but is constantly monitoring Ils financial position to ensure that there is funding In place to
complete all the projects it has commilled to undertake.
In January 2016 the Board look the decision lo sel a largel going forward of a level of free reserves of £100,000
lo ensure the charity had sufficient funds lo meet day lo day working capitsl requirements.
At the end of the year free reserves lolalled £138,853 12024.. £86.3041. The Iruslees have the power lo
undesignate designated funds and therefore for the purpose of assessing free and available reserves, the
designated fund has been Induded when calculating the total available free reserves. The Board Is satisfied that
there are adequate resources to fund their aclivilies.
Investment policy
The Trustees, investment powers are govemed by the Memorandum and Articles of Association which permit
the charitys funds lo be invested in a wide range of securities and assets.
The Board's Investment policy is lo aim for safety commensurate with immediate and planned spending
requirements. The charity holds a diversified portfolio of widety spread investments which are managed by
professional Investment advisers in order to minimise the downside risk.
The Trustees will continue lo manage the Trusys Investments confimiing this policy and the governing
document. They aim to ensure that adequate liquid assets are held before further Investments are made.
Asset cover for funds
The Trustees are of the opinion that as at the balance sheet date, the assets plus the budgeted future funding
are sufficient lo meet the charity's obligations on a fund by fund basis.
Arrangements for setting pay and remunerab.on of the charity's key management personnel and criteria for
setting pay
In order lo sel pay and remuneration of key management personnel, the Chief Executive Officer and Chief
Operating OffiTrr rate each Individual's performance indicators set al the start of the year. Once a level of pay
has been suggested then these are taken to the remuneration committee for review and approval.
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MACCABI GB
IA company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
ststement of Trustees. responsibilities
The Trustees (who are also the directors of the charity for the purposes of company lawl 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 statements for each financial year. Under company law,
the Trustees musl not approve the financial stslements unless they are satisfied that they give a true and fair
view of the slate of affairs of the charity and of its Incoming resources and application of resourTrs, including ils
Income and expenditure, for that period. In preparing these financial stslemenls, the Trustees are required lo..
select suitable accounting policies and then apply them consistently.,
observe the methods and principle5 of the Charities SORP IFRS 1021.,
make judgments and accounting estimates that are reasonable and prudent.,
slate whether applicable UK Accounting Standards IFRS 1021 have been followed. subject lo any material
departures disclosed and explained in the financial stslemenls.,
prepare the financial statements on the going concern 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 lime the financial position of the charity
and enable them lo ensure that the financial stslemenls comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charity and hen￿ for tsking reasonable steps for the prevention
and detection of fraud and other irregularities.
Disclosure of infomiation to auditors
Each of the persons who are Trustees al the time when this Trustees, report is approved has confirmed that..
so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are
unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the charitys auditors are aware of that information.
Auditors
The auditors, Nyman Libson Paul LLP, have indicated their willingness lo continue in office. The Trustees will
propose a motion reappointing the auditors al a meeting of the Trustees.
Approved by order of the members of the board of Trustees on
1810812026
and signed on their behalf by..
Jonathan Prevtzer IAug 18, 2026 16".25."28 GMT+11
J Provgzer
Ichair of Trustees)
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MACCABI GB
IA company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MACCABI GB
Oplnlon
We have audited the financial statements of Maccabi GB Ithe 'parent charitable company'l and ils subsidiaries
Ilhe 'group'l for the year ended 31 December 2025 which comprise the consolidated statement of financial
activities, the consolidated balance sheet, the charity balan￿ sheet, the consolidated statement of cash flows
and the related notes, including a summary of significant accounting policies. The financial reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, Iunited Kingdom Generally Accepted Accounting practi￿).
In our opinion the financial statements..
give a true and fair view of the stale of the group's and of the parent charitable company's affairs as at 31
December 2025 and of the group's incoming reSoUr￿S and application of resources, including its income
and expenditure for the year then ended.,
have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities
Act2011.
Basis for opinion
We conducted our audit in accordanTr with International Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the group in accordanTr with the ethical
requirements that are relevant to our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit eviden￿ we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to going concorn
In auditing the financial slalements, we have concluded that the Trustees. use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the group's or the parent charitable
company's ability to continue as a going concern for a period of at least ￿e1ve months from when the financial
slalements are aulhorised for issue.
Our responsibilities and the responsibilities of the Trustees wth respect lo going COn￿M are described in the
relevant sections of this report.
Page 14

MACCABI GB
IA company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MACCABI GB {CONTINUED)
Other Informatlon
The other information comprises the information included in the annual report other than the financial statements
and our auditors, report thereon. The Trustees are responsible for the other information contained within the
annual report. Our opinion on the financial statements does not cover the other information and, except lo the
extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our
responsibility is lo read the other information and, in doing so, consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misststemenl in the financial
statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Oplnlon on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees, report for the financial year for which the financial statements are
prepared is consistent with the financial ststements.
the Trustees, report has been prepared in accordan￿ with applicable legal requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of our knowledge and understanding of the charitsble company and its environment obtsined in the
course of the audit, we have not identified material misstalemenls in the Trustees, report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us to report to you if, in our opinion".
the parent ch8ri18ble company has not kept adequate and sufficient aceounling records, or returns
adequate for our audit have not been received from branches not visited by us, or
the parent charitable company financial statements are not in agreement with the accounting records and
returns,. or
certain disclosures of Trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit., or
the Trustees were not entitled to prepare the financial statements in awordance with the small companies
regime and take advantage of the small companies, exemptions in preparing the Trustees, report and
from the requirement to prepare a Strategie report.
Page 15

MACCABI GB
IA company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MACCABI GB {CONTINUED)
Responslbllltles of trustees
As explained more fully in the trustees, responsibilities statement, the Trustees (who are also the directors of the
charitable company for the purposes of company lawl are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
Trustees determine is ne￿SSary lo enable the preparation of financial statements that are free from material
misstatement, whether due lo fraud or error.
In preparing the financial slatemenls, the Trustees are responsible for assessing the group's and the parent
charitable company's ability to continue as a going concern, disclosing, as applicable, mallers related to going
concern and using the going concern basis of accounting unless the Trustees either intend lo liquidate the group
or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Audltors. responslbllltles for the audlt of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and lo issue an auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misststemenl 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 lo influence the economic decisions of users taken on the basis of these financial ststemenls.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, lo delect material misststemenls in respect of irregularities,
including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud is
detsiled below..
We gained an understanding of the legal and regulatory framework applicable to the Group and the industry in
which it operates, and considered the risk of acts by the Group that were contrary lo applicable laws and
regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not
detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as
fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through
collusion.
We focussed on laws and regulations which could give rise to a material misstatement in the financial
statements, including, but not limited to, the Companies Act 2006. Our tests included agreeing the financial
statement disclosures to undedying supporting documentation and enquiries with management. There are
inherent limitations in the audit procedures described above and, the further removed non-compliance with laws
and regulations is from the events and transactions reflected in the financial statements, the less likely we would
become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all
our audits, we also addressed the risk of management override of intemal controls, including testing joumals and
evaluating whether there was evidence of bias by the Iruslees that represented a risk of material misstatement
due to fraud
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website al.. www.frc.or
.uklauditorsres
onsibililies. This description forms part of our
auditors, report.
Page 16

MACCABI GB
IA company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MACCABI GB {CONTINUED)
Use of our report
This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006, and lo the charitable company's Iruslees, as a body, Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the
charitable company's members those matters we are required to stste lo them in an auditors, report and for no
other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility lo anyone other
than the charitable company and ils members, as a body, for our audit work. for this report, or for the opinions
we have formed.
Andrew Thomas Isenlor statutory audltorl
for and on behalf of
Nyman Libson Paul LLP
Chartered Accountsnts
Statutory Auditors
124 Finchley Road
London
NVV3 5JS
Dale. 21 August 2026
Page 17

MACCABI GB
IA company limited by guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 DECEMBER 2025
Endowment
funds
2025
Restricted
funds
2025
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Note
Income and
endowments from:
Donations and legacies
Charitsble activities
Other trading activities
Investments
496,863
348,121
496,767
471,149
39,728
13,895
993,630
819,270
39,728
13,895
306,068
898,526
1,571,252
19,359
Total income and
endowments
844,984
1,021,539
1,866,523
2,795,205
Expenditure on:
Raising funds
Charitable activities
3,175
9,602
23,277
1,043,743
26,452
1,627,253
1,453,665
1,681,237
573,908
Total expendlture
12,777
573,908
1,067,020
1,653,705
3,134,902
Ngt Income
Ilexpgnditurel beforo
net gains on
investments
Nel gains on
investments
112,7771
271,076
145,4811
212,818
1339,6971
39,540
24,622
64,162
42,302
Net income
Ilexpenditurel
Transfers between
fvnds
26,763
271,076
120,8591
276,980
1297,3951
20
136,7961
36,796
Net movement In
funds
26,763
234,280
15,937
276,980
1297,3951
Reconclllatlon of
funds:
Total funds brought
forward
Nel movement in funds
376,418
26,763
316,583
234,280
2,170,256
15,937
2,863,257
276,980
3,180,652
1297,3951
Total funds carrled
forNard
403,181
550,863
2,186,193
3,140,237
2,863,257
Page 18

MACCABI GB
IA company limited by guarantee)
REGISTERED NUMBER: 04759599
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2025
2025
2024
Note
Fixed assets
Tangible assets
Investments
14
15
2,047,340
662,290
2,083,952
603,242
2,709,630
2,687,194
Current assets
Debtors
Cash al bank and in hand
16
1,146,018
997,401
1,696,918
143,453
2,143,419
1,840,371
Current liabilities
Creditors." amounts falling due within one
year
17
11,587,812)
11,514,308)
Net current assets
555,607
326,063
Creditors.. amounts falling due after more
than one year
18
1125,0001
1150,0001
Total net assets
3,140,237
2,883,257
Charity funds
Endowment fLJnds
Reslricled funds..
20
403, 181
376,418
Reslricled funds
20
550,863
316,583
Total restricted funds
Unrestricted funds
20
550,863
316,583
Designated funds
General funds
20
20
2,123,067
63,126
2,140,252
30,004
Unrestricted fvjnds
20
2,186,193
2,170,256
Totsl funds
3,140,237
2,863,257
Page 19

MACCABI GB
IA company limited by guarantee)
REGISTERED NUMBER: 04759599
CONSOLIDATED BALANCE SHEET ICONTINUEDI
AS AT 31 DECEMBER 2025
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial slalemenls have been prepared in accordan￿ with the provisions applicable to enlilies subject to
the small companies regime.
The financial
statements were approved
and
aulhorised for issue
by the Trustees on
and signed on their behalf by..
1810812026
Jonalhaii Prevezer IAug le. 2026 16."25 28 GMT+11
Michael A Ziff (Au9 18. 2
23 12."39 GMT*11
J Prevezer
(Chair of Trustees)
Mziff
(Trusteel
The notes on pages 24 to 46 form part of these financial statements.
Page 20

MACCABI GB
IA company limited by guarantee)
REGISTERED NUMBER: 04759599
CHARITY BALANCE SHEET
AS AT 31 DECEMBER 2025
2025
2024
Note
Fixed assets
Tangible assets
Investments
14
15
2,047,340
662,292
2,083,952
603,244
2,709,632
2,687,196
Current assets
Debtors
Cash al bank and in hand
16
1,126,040
735,726
1,696,917
128,433
1,861,766
1,825,350
Current liabilities
Creditors." amounts falling due within one
year
17
11,306,221)
11,513,308)
Net current assets
555,545
312,042
Total assets less current liabilities
3,265,177
2,999,238
Creditors." amounts falling due after more
than one year
18
1125,0001
1150,0001
Total net assets
3,140,177
2,849,238
Charlty funds
Endowment funds
Reslricled funds..
20
403,181
376,418
Reslricled funds
20
550,863
316,583
Total restricted funds
Unrestricted funds
20
550,863
316,583
Designated funds
General funds
20
2, 123,067
63,066
2, 140,252
15,985
20
Total unrestricted funds
20
2,186,133
2,156,237
Total funds
3,140,177
2,849,238
Page 21

MACCABI GB
IA company limited by guarantee)
REGISTERED NUMBER: 04759599
CHARITY BALANCE SHEET ICONTINUED}
AS AT 31 DECEMBER 2025
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial slalemenls have been prepared in accordan￿ with the provisions applicable to enlilies subject to
the small companies regime.
The financial
181081202e
statements were approved
and
aulhorised for issue
by the Trustees on
and signed on their behalf by..
Jon3lhan
revezer I
ug 1
Michael A Zi
Michael A Ziff (Au9 18, 2
Mziff
(Trusteel
23.12..39 GMT+11
J Prevezer
(Chair of Trustees)
The notes on pages 24 to 46 form part of these financial statements.
Page 22

MACCABI GB
IA company limited by guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
2025
2024
Cash flows from operating activities
Nel cash used in operating activities
840,150
1461,3531
Cash flovts from investing activities
Dividends and interest received from listed investments
Proceeds from sale of listed investments
Purchase of listed investments
13,895
73,729
173,8261
19,359
453,422
169,5701
Net cash provided by investing activities
13,798
403,211
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
853,948
158,1421
201,595
143,453
Cash and cash equivalents at the end ofthe year
997,401
143,453
The notes on pages 24 to 46 form part of these financial statements
Page 23

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
General Infomiatlon
Maccabi GB is a charitable company limited by guarantee, incorporated in England and Wales. The
address of its registered office is The Stanley S. Cohen OBE Centre, Shaftesbury Avenue, Kenton,
Harrow, HA3 ORD. The directors ofthe company are the Trustees named on page 1. In the event of
the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the
charity.
Accountlng pollcles
2.1 Basis of preparation of financial statements
The financial slalements have been prepared in accordan￿ with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Maccabi GB meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised at historical cost or transaction value unless otherwise staled in the relevant
accounting policy.
The consolidated statement of financial activities ISOFAI and consolidated balance sheet consolidate
the financial statements of the charity and its subsidiary undertakings. The results of the subsidiaries
are consolidated on a line by line basis.
The charity has taken advantage of the exemption allowed under section 408 of the Companies Act
2006 and has not presented ils own statement of financial activities in these financial statements.
2.2 Going concern
The group recorded nel income of £276,980 during the year and as al the reporting dale the group
had net current assets of £555,607.
The Trustees have reviewed the circumstan￿5 of the charity given the above and have prepared
appropriate budgets and cash flow forecasts which indicate that cash resources will continue to be
available to fund the activities of the charity for the next 12 months.
Accordingly, the Trustees consider il appropriate for the company lo continue to adopt the going
concern basis in preparing ils financial statements.
Page 24

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Accountlng pollcles Icontlnuedl
2.3 Income
All income is recognised once the charity has entitlement lo the funds, any performance conditions
have been mel, it is probable that the income will be received and the amount of income
re￿1vable can be measured reliably.
For legacies, entiuemenl is taken as the earlier of the date on which either.. the charity is aware that
probate has been granted, the estate has been finalised and notification has been made by
the executorlsl to the Trust that a distribution will be made, or when a distribution is received from the
estate.
Gifts in kind donated for distribution are included at valuation and recognised as income when they
are distributed lo the projects. Gifts donated for resale are included as income when they are sold.
Donations and gifts are recognised as incoming resources when they are received, while income
from charitable activities, fundraising activities and investment income is recognised on an
accruals basis, when the charity is entitled to the income and the amount can be quantified with
reasonable accuracy. Gifts in kind are recognised at fair value.
Income in respect of events is recognised when the event takes pla￿.
Income lax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
2.4 Expendlture
Expenditure is charged to the statement of financial activities on an accruals basis, when a
conslruclive obligation has arisen, it is probable that settlement will be required and the amount of the
obligation can be measured reliably and is classified as follows..
il Cost of generating funds
This comprises all costs incurred by the charity associated with
attracting voluntary income lo finan￿ its charitable objectives.
ill Charitable expenditure
This comprises all costs incurred by the charity in the delivery of
activities and services for its beneficiaries.
iiil Support costs - These comprise central costs including salaries and other expenses necessary to
support the activities. These costs have been allocated to activity costs on a basis consistent
with the use of reSoU￿s.
iv) Governance costs
These comprise all costs associated with meeting the constitutional
and slalutory requirements of the charity.
Expenditure on raising funds includes all expenditure incurred by the group to raise funds for ils
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on direcuy undertaking the activities which further the
group's objectives, as well as any associated support costs.
Page 25

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Accountlng pollcles Icontlnuedl
2.5 Subsidiary companies and group accounting
The charity owns 1000k of the issued share capital of the limited companies Maccabi GB120211 Ltd
and EMYG 2024 Ltd respectively. The group has included consolidated full-year accounts for the
year to 31 December 2025.
EMYG 2024 Limited, which was 1000k owned by Maccabi GB, was dissolved on 23 April 2026.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured al cost less accumulated depreciation and any accumulated impairment
losses.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the straighl-line method.
Depreciation is provided on the following bases..
Freehold propety
20k straight line lon completion of
refurbishment)
12.5Qk straight line
250/0 straight line
Fixtures and fillings
Computer equipment
2.7 Investments
Investments are a form of financial instrument and are initially recognised at their transaction cost
and subsequently measured at fair value at the statement of financial position dale using the
closing quoted market price. The statement of financial activities includes the nel gains and losses
arising on revaluation and disposals throughout the year.
Investments in subsidiaries are valued at cost less provision for impairment.
2.8 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid net of any trade discounts due.
2.9 Cash at bank and In hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the dale of acquisition or opening of the deposit or similar account.
Page 26

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Accountlng pollcles Icontlnuedl
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet dale as a result of a past
event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay lo setde the debt or the
amount it has re￿iVed as advanced payments for the goods or setvices it musl provide.
Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the consolidated statement of financial activities as a
finance cost.
2.11 Flnanclal Instruments
The group 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 al their settlement value with the exception of bank loans which are subsequently
measured al amortised cost using the effective interest method.
2.12 Fund accountlng
General funds are unreslricled funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the group and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
ststemenls.
Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by
donors or which have been raised by the group 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 lo the financial statements.
The Endowment fund is a restricted fund and is an expendable endowment, not permanent capital. It
is available for use al the discretion of the trustees subject to the approval of an Endowment
Committee. Income generated from the fund is used in futherance of the general objectives of the
charity.
Crltlcal accountlng estlmates and areas of judgment
The charity considers that there are no key or material eslimales or areas of judgement in the preparation
of the financial statements.
Page 27

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Income from donatlons and legacles
Reslricled Unrestricted
funds
funds
2025
2025
Total
funds
2025
Totsl
funds
2024
Restrlcted Donatlons
Yellow Candle
International Games Fund
Maccabi GB Junior Football League
Maccabi GB Nation81 Football Committee
Maccabi GB Netball
student Sport Fund
Stand Upl Education Against Discrimination
Fund
Antisemitism in Sport Fund
130,424
128,124
130,424
128,124
99,234
2,175
4,080
6,030
3,000
6,285
5,000
15,480
6,285
5,000
15,480
29,800
181,750
29,800
181,750
46,000
Total Restrlcted Donatlons
496,863
496,863
160,519
General Donations
496,767
496,767
145,549
Total Unrestricted Donations
496,767
496,767
145,549
496,863
496,767
993,630
306,068
Total 2024
160,519
145,549
306,068
Page 28

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Income from charltable actlvltles
Reslricled Unrestricted
funds
funds
2025
2025
Total
funds
2025
Totsl
funds
2024
Entry and p8rbcip8tion fees
JCC Games
Leadership and stree￿ise Projects
Stand Upl Education Against Discrimination
European Maccabi Youth Games
281,666
209,483
261,686
209,483
124,246
223,875
185,827
105,431
117,844
210,168
279,256
124,246
223,875
348,121
471,149
819,270
898,526
Page 29

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Income from other actlvltles
Income from fundralslng events
Unrestricted
funds
2025
Total
funds
2025
Totsl
funds
2024
Sponsorship income and commission received by subsidiary
company for events
Entry fees, fundraising and supporter packages received by
subsidiary company re.. European Maccabi Youth Games
43,190
1,435,476
1,478,666
Income from non charitable trading activities
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Sponsorship income relating lo the Maccabiah Games
Rent re￿1Vable and Servi￿ charges
54,685
37,901
39,728
39,728
39,728
39,728
92,586
Investment income
Unrestricted
fvnds
2025
Total
funds
2025
Total
funds
2024
Interest and dividends re￿1vable
13,895
13,895
19,359
Page 30

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Expendlture on ralslng funds
Costs of ralslng voluntary Income
Endowment Unrestricted
funds
funds
2025
2025
Total
funds
2025
Totsl
funds
2024
Investment management charges
Other fundraising expenses
3,175
1,978
21,195
5,153
21,195
6,942
51,099
3,175
23,173
26,348
58,041
Othor trading gxpenses
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Administration and event expenses in 100Qkn owned
subsidiaries
104
104
1,395,624
Total expenditure on raising funds amounted to £26,45212024.. £1,453,665).
Anatysis of expenditure on charitsble activities
Summary by fund type
Endowment
funds
2025
Reslricled Unrestricted
funds
funds
2025
2025
Total
2025
Total
2024
Events
411,949
154,936
238,675
238, 183
411,949
247,439
729,682
238,183
599,855
320,796
611,290
149,296
Sports & Youth Development
Tours & Projects
JCC and EMYG
9,602
82,901
491,007
9,602
573,908
1,043,743
1,627,253
1,681,237
Page 31

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
10. Summary of expendlture by actlvlty
Support
costs
2025
Total
funds
2025
Totsl
funds
2024
Direct costs
2025
Events
Sports & Youth Development
Tours & Projects
JCC and EMYG
145,980
39,899
515,386
185,346
265,969
207,540
214,296
52,837
411,949
247,439
729,682
238,183
599,855
320,796
611,290
149,296
886,611
740,642
1,627,253
1,681,237
Total 2024
988,171
693,066
1,681,237
Included within support costs are £21,816 of governance costs 12024.. £21,655), which comprise audit,
accountancy, legal and other professional expenses attributable lo the governance of the charity.
11. Audltovs remuneratlon
2025
2024
Fees payable lo the charitys auditor for the audit of the charitys annual
accounts
10,200
9,300
Fees payable lo the charity's auditor in respect of..
All non-audil services not included above
6,650
5,190
12. Staff costs
Group
2025
Group
2024
Wages and salaries
Social security costs
Pension contributions
775,540
90,516
14,967
685, 185
75,673
14,975
881,023
775,833
Page 32

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
12. Staff costs {contlnued}
The average number of persons employed by the charity during the year was as follows..
Group
2025
No.
Group
2024
No.
Ch8rily
2025
No.
Charity
2024
No.
MGB Central
Major Events
Sport and youth development
11
15
13
15
19
21
20
21
The number of employees whose employee benefits (excluding employer pension costs) ex￿eded
£60,000 was..
Group
2025
No.
Group
2024
No.
In the band £60,001- £70,000
In the band £80,001- £90,000
In the band £90,001- £100,000
Key management includes the directors and members of senior management. The compensation paid
or payable lo key management for employee ServI￿S during the year was £380,66012024." £329,926).
13.
Trustees. remuneration and expenses
During the year, no Trustees re￿iVed any remuneration or other benefils12024 - £NILI.
During the year ended 31 December 2025, no Trustee expenses have been incurred12024 - £NILI.
14. Tangible fixed assets
Group and Charity
Freehold Fixtures and
property
fillings
Total
Cost or valuation
At 1 January 2025
2,138,209
92,656
2,230,865
At 31 December 2025
2,138,209
92,656
2,230,865
Page 33

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
14. Tanglble flxed assets Icontlnuedl
Group and Charlty Icontlnuedl
Freehold Fixtures and
property
fillings
Totsl
Depreciation
At 1 January 2025
Charge for the year
78,775
28,623
68,138
7,989
146,913
36,612
At 31 December 2025
107,398
76,127
183,525
Net book value
At 31 December 2025
2,030,811
16,529
2,047,340
At 31 December 2024
2,059,434
24,518
2,083,952
Page 34

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
15.
Flxed asset Investments
Investments
in subsidiary
companies
Listed
investments
Total
Charity
Cost or valuation
At 1 January 2025
Additions
Disposals
Revaluations
603,242
73,826
173,7291
64,162
15,2111
603,244
73,826
173,7291
84,162
15,2111
Foreign exchange movement
At 31 December 2025
662,290
662,292
Consolidated investments are equal to the above table but without the investment in subsidiary
companies.
16. Debtors
Group
2025
Group
2024
Charity
2025
Charity
2024
Due after morg than one year
Other debtors
125,000
150,000
125,000
150,000
125,000
150,000
125,000
150,000
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
16,937
28,041
976,040
25,001
1,521,917
25,000
976,040
25,000
1,521,917
1,146,018
1,696,918
1, 126,040
1,696,917
Page 35

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
17. Credltors: Amounts falllng due wlthln one year
Group
2025
Group
2024
Charity
2025
Charity
2024
other loans Isee below)
Trade creditors
Amounts owed to group undertakings
Other laxalion and social security
other creditors
Accruals and deferred income
25,000
30,373
25,000
26,336
25,000
30,373
26,400
22,728
13,519
1,188,201
25,000
26,336
22,728
13,519
1,496,192
21,405
16,645
1,424,922
21,405
16,645
1,423,922
1,587,812
1,514,308
1,306,221
1,513,308
18. Creditors: Amounts falling duo after more than one year
Group
2025
Group
2024
Charity
2025
Charity
2024
Other loans
125,000
150,000
125,000
150,000
Included in other creditors is a loan balance of £150,000 12024.. £175,000) from the Stanley S Cohen
Charitable Selllemenl. This is repayable via annual inslalments of £25,000 and is secured on the charity's
freehold property.
19.
Financial instruments
Group
2025
Group
2024
Charity
2025
Charity
2024
Financial assets
Financial assets measured at fair value
through income and expenditure
662,290
603,242
662,292
603,244
Financial assets measured at fair value through income and expenditure comprise of fixed asset
investments.
Page 36

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
20. Statement of funds
Statement of funds - current year
Balance at
31
December
2025
Balance al 1
January
2025
Transfers
inlloull
Gainsl
(Losses)
Income Expenditure
Unrestricted
funds
Designated
funds
Kenton
2,059,435
128,6231
2,030,812
Kenton Sinking
Fund
Future Core
Project Fund
15,000
5,000
20,000
65,817
15621
7,000
72,255
2, 140,252
129,1851
5,000
7,000
2,123,067
General funds
General Funds
Reserves
15,985
14,019
1,021,539
11,037,731)
11041
31,796
17,622
49,211
13,915
30,004
1,021,539
11,037,835)
31,796
17,622
63,126
Total
Unrestricted
funds
2,170,256
1,021,539
11,067,020)
36,796
24,622
2,186,193
Endowment
fund
Maccabi GB
Endowment
Fund
376,418
112,7771
39,540
403,181
Restricted
funds
Leadership and
Streetwise
Projects
124,246
1124,2461
Page 37

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
20. Statement of funds (contlnuedl
Statement of funds - current year {contlnuedl
Balance at
31
December
2025
Balance al 1
January
2025
Transfers
inlloull
Gainsl
(Losses)
Income Expenditure
International
Events Advance
Funds
Pierre
Gildesg8me
Fund
13,242
13,242
15,198
15,198
Elliott Simmons
Challenge Fund
Maccabi GB
National Football
Committee
Maccabi GB
Junior Football
League
International
Games Fund
Stsnd Up
Reserve Fund
Yellow Candle
Fund
46,114
46,114
12,898
6,285
15,3391
13,844
12,908
12,908
69,686
128,124
124,6821
173,128
51,286
253,675
1197,8241
107,137
86,796
130,424
1121,2231
136,7961
59,201
Maccabi GB Golf
Fund
Maccabi GB
Netball Fund
Maccabi GB
Cricket Fund
Maccabi GB
Anlisemilism in
Sport Fund
Maccabi GB
Student Sport
Fund
1,189
1,189
5,612
5,000
17,3931
3,219
1,000
1,000
181,750
182,9011
98,849
674
15,480
110,3201
5,834
316,583
844,984
1573,9081
136,7961
550,863
Total of funds
2,863,257
1,866,523
11,653,705)
64,162
3,140,237
Page 38

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
20. Statement of funds (contlnuedl
Statement of funds - prlor year
Balance at
31
December
2024
Balance at
1 January
2024
Transfers
inlloull
Gainsl
(Losses)
Income Expenditure
Unrestricted
funds
Designated
funds
Kenton
2,088,092
128,6571
2,059,435
Kenton Sinking
Fund
Future Core
Project Fund
10,000
5,000
15,000
337,433
156,0441
1235,0001
19,428
65,817
2,435,525
184,7011
1230,0001
19,428
2,140,252
General funds
General Funds
53,104
2,313,164
12,583,027)
238,352
8,411
30,004
Totsl
Unrestrictod
funds
2,488,629
2,313, 164
12,667,728)
8,352
27,839
2,170,256
Endowment
fund
Maccabi GB
Endowment
Fund
390,081
127,7441
14,081
376,418
Restricted
funds
Leadership and
Stree￿ise
Projects
International
Events Advance
Funds
Maccabi
Foundation
111,354
1111,3541
12,632
610
13,242
8,016
18,3981
382
Page 39

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
20. Statement of funds (contlnuedl
Statement of funds - prlor year Icontlnuedl
Balance at
31
December
2024
Balance at
1 January
2024
Transfers
inlloull
Gainsl
(Losses)
Income Expenditure
Pierre
Gildesgame
Fund
Elliott Simmons
Challenge Fund
Maccabi GB
National Football
Committee
Maccabi GB
Junior Football
League
International
Games Fund
Stand Up.
Reserve Fund
28,198
125,0001
12,000
15,198
46,114
46,114
10,529
6,030
13,6611
12,898
16,193
4,080
12,3651
15,0001
12,908
87,491
2,175
120,0001
69,666
12,854
210,168
1171,7361
51,286
Yellow Candle
Fund
Maccabi GB Golf
Fund
Maccabi GB
Netball Fund
50,000
99,234
162,4381
86,796
1,189
1,189
4,090
3,000
11,4781
5,612
Maccabi GB
Cricket Fund
Maccabi GB
Antisemitism in
Sport Fund
Maccabi GB
student Sport
Fund
1,000
1,000
2,650
46,000
152,6881
4,038
986
13121
674
281,942
482,041
1439,4301
18,3521
382
316,583
Total of funds
3,160,652
2,795,205
13, 134,9021
42,302
2,863,257
Page 40

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
20. Statement of funds (contlnuedl
The Kenton fund relates to the book value of the charity's freehold propety and the sinking fund is lo
provide for future related expenditure.
The Maccabi GB Endowment fund is held in listed investments with the investment income available lo
the charity lo spend on general activities.
The Kenton Property Refurbishment Fund relates to the redevelopment of the building donated in
December 2017 by the Kenton Youth Aid Trust, which is now the locats'on of Maccabi GB'S sporting and
administrative offices.
The Future Core Project Fund relates to funds set aside to finance future activities of the charity.
The Leadership and Stree￿ise Projects fund relates to income received for Leadership and stree￿ise
projects in the local community.
The International Events Advance funds are for future events that Maccabi GB is commilled to and has
received deposits for.
The International Games Fund is for related sports'ng events.
The Elliott Simmons Challenge fund relates to income and expenditure for The Challenge Tour of Israel.
The Pierre Gildesgame Fund is restricted to further the education programmes of Maccabi GB.
The Maccabi GB National Football Committee relates to deposits received for the Peter Morrison cup.
The Yellow Candle Fund is a practical and informal educational project to remember those murdered
during the Holocaust.
The Maccabi GB Junior Football League and The Maccabi GB Golf, Netball and Cricket Funds are for
related sporting events.
Maccabi GB Antisemitism in Sport Fund relates to funds received for the purpose of educating about
Antisemitism in Sport.
Maccabi GB Student Sport Fund is for support towards student sport.
Page 41

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
21. Summary offunds
Summary offunds - current year
Balance at
31
December
2025
Balance al 1
January
2025
Transfers
inlloull
Gainsl
(Losses)
Income Expenditure
Designated
funds
General funds
Endowment
funds
Reslricled funds
2, 140,252
30,004
129,1851
11,037,835)
5,000
31,796
7,000
17,622
2,123,067
63,126
1,021,539
376,418
31 $,S83
112,7771
1573,9081
39,540
403,181
550,863
844,984
136,7961
2,863,257
1,866,523
11,653,705)
64,162
3,140,237
Summary offunds - prlor year
Balance at
31
December
2024
Balance at
1 January
2024
Transfers
inlloull
Income Expenditure
Gains
Designated
funds
General funds
Endowment
funds
Reslricled funds
2,435,525
53,104
184,7011
12,583,027)
1230,0001
238,352
19,428
8,411
2,140,252
30,004
2,313,164
390,081
281,942
127,7441
1439,4301
14,081
382
376,418
316,583
482,041
18,3621
3,160,652
2,795,205
13,134,902)
42,302
2,863,257
Page 42

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
22. Analysls of net assets between funds
Analysls of net assets between funds - current year
Endowment
funds
2025
Restricted Unreslricled
funds
funds
2025
2025
Total
funds
2025
Tangible fixed assets
Fixed asset investments
Debtors due after more than one year
Current assets
Creditors due within one year
Creditors due in more than one year
2,047,340
259,109
2,047,340
682,290
125,000
125,000
575,863
1,442,556
2,018,419
125,0001 11,562,812) 11,587,812)
1125,0001
1125,0001
403,181
Total
403,181
550,863
2,186,193
3,140,237
Anatysls of net assets between funds - prlor year
Endowment
funds
2024
Restricted Unreslricled
funds
funds
2024
2024
Total
funds
2024
Tangible fixed assets
Fixed asset investments
Debtors due after more than one year
Current assets
Creditors due within one year
Creditors due in more than one year
2,083,952
226,824
2,083,952
603,242
150,000
150,000
341,583
1,348,788
1,690,371
125,0001 11,489,308) 11,514,308)
1150,0001
1150,0001
376,418
Total
376,418
316,583
2,170,256
2,863,257
Page 43

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
23. Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles
Group
2025
Group
2024
Nel incomellexpenditurel for the year las per Statement of Financi81
Ackn'vitiesl
276,980
1297,3951
Adjustments for:
Depreciation charges
IGainl on listed investments
Dividend5 and interest received from listed investments
other movements in investments
Decreasellincreasel in debtors
Increase in c￿ditOrS
36,612
36,619
164,1621
143,3021
113,8951
119,3591
5,211
12,8891
550,900 11,235,638)
48,504
1,099,611
Net cash provided byllused inl operating activities
840,150
1462,3531
24.
Analysis of cash and cash equivalents
Group
2025
Group
2024
Cash in hand
997,401
143,453
Total cash and cash equivalents
997,401
143,453
25. Analysls of changes In net debt
Other non-
cash
changes
At31
December
2025
At 1 January
2025 Cash flows
Cash al bank and in hand
Debt due within 1 year
Debt due after 1 year
143,453
125,0001
1150,0001
853,948
997,401
125,0001
1125,0001
25,000
131,5471
853,948
25,000
847,401
Page 44

MACCABI GB
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
26. Contlngent Ilabllltles
On 1 December 2017 Kenton Youth Aid Trust, a registered charity, effectively merged with Maccabi GB by
transferring its freehold property to Maccabi GB. The terms of the merger and the resulting transfer were
that, should the property be sold within three years of the transfer date, £350,000 would be payable to a
charity or charities of Kenton Youth Aid Trust's choosing. After three years, this amount is to reduce by
£50,000 on each subsequent anniversary of the transfer date until the lenlh anniversary of the
completion dale, after which there would be no further liability. The Iruslees have no plans lo dispose of
the propety and have spent significant sums lo renovate il as per note 14. The charity moved into the
premises in 2022 and made it their head Offi.￿.
27. Related party transactlons
During the year, donations received without conditions from trustees or related parties, amounted lo
£62,52312024.' £180,254).
During the year, remuneration tolalling £26,000 12024.. £33,000) was paid lo an employee who is
connected lo a Trustee.
Furthermore, during the year, remuneration totslling £56,250 12024.. £26,724> was paid to an employee
who is connected to a Trustee.
28.
Post balance sheet events
Subsequent to the year end, the Maccabiah Games, which had been postponed from 2025, are scheduled
lo take place in July 2026. Following confirmation that the Games would proceed, participation levels have
reduced as a result of the ongoing geo-political situation in the Middle East, and the charity is in the
process of issuing partial refunds to withdrawing participants. However, the financial impact has not yet
been fully determined. These events are considered to arise from conditions occurring after the reporting
dale and, accordingly, no adjustments have been made lo the amounts recognised in these financial
statements.
Page 45

£è<£è<
(ri a) 2ui a) 2
£ a)£
rL

Maccabi GB - 31.12.2025 - Draft for Approval
Final Audit Report
2026-08-18
Created..
202￿8-16
By..
Daniel Morris 1danielmorris@maccabigb.orgl
Sl8lus'.
Signed
Tr8nsaclion ID..
CBJCHBCA4BAW11Pm62Ghi5uOe1kmmLEXs83a5UgC47
"Maccabi GB - 31.12.2025 - Draft for Approval" History
Document created by Daniel Morris 1danielmorris@maccabigb.orgl
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