Charity registration no: 1103481 New Shul Charitable Trust (N.S.C.T.) Trading As Kehilas Toras Chaim Annual Report and Unaudited Financial Statements For the Year Ended 31 August 2025 New Shul Charitable Trust (N.S.C.T.) (‘the Charity’) ## **Table of Contents** |Legal and Administrative Information|3| |---|---| |Trustees’ report|4| |Independent examiner’s report|5| |Statement of financial activities|6| |Statement of financial position|7| |Notes to the financial statements|8-12| 2 New Shul Charitable Trust (N.S.C.T.) (‘the Charity’) ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** D Minsky A Morris **Charity number:** 1103481 **Principal address:** The New Hendon Beis Hamedrash Capital House Prestige Way London NW4 2EZ **Independent examiner:** Shaya Grosskopf FCA 1g Accountants Churchill House 137-139 Brent Street NW4 4DJ 3 New Shul Charitable Trust (N.S.C.T.) (‘the Charity’) ## **TRUSTEES’ REPORT FOR THE YEAR ENDING 31 AUGUST 2025** The Trustees present their report and financial statements for the year ended 31 August 2025. ## **Objectives and activities** The Charity’s objectives are to advance Jewish education, Jewish religion, and other lawful charitable purposes. It does this by the provision and maintenance of a community centre and synagogue for the purpose of worship, conducting services and meetings, and the provision of educational facilities to provide for spiritual and religious needs. Activities are carried out in accordance with the principles of traditional Orthodox Jewish laws and practices and with applicable charitable law. The Trustees have had due regard to Charity Commission guidance on public benefit and lawful charitable purposes in deciding what activities the Charity should undertake. ## **Achievements and performance** During the year the synagogue operated daily to provide an Orthodox place of prayer. A religious educational programme consisting of a weekly roster of events and lectures was delivered, with extra events to mark significant moments. The charity also supported other bodies with similar objects. During the year charitable grants of £35,541 (2024: £15,650) were disbursed, more details on which are presented in note 4 to the financial statements. The trustees are indebted to the Charity’s Rabbinical Team and committee of volunteers who together manage day to day activities including organising prayer services and educational events for adults and children. ## **Financial review** The Statement of Financial Activities shows a surplus of £14,502 (2024: deficit of £45,821). £502 (2024: £670) of the expenditure in the year relates to depreciation, which is a non-cash expense. Unrestricted funds at 31 August 2025 were an accumulated surplus of £3,686 (2024: £10,816 accumulated deficit). It is the aim of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level between three and six months’ expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. Reserves have fallen below the Trustees’ target level, and the Trustees are taking steps to restore the position. The Trustees haves assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** The Charity was established by a charitable trust deed on 29 January 2004. The Trustees who served during the year and up to the date of signature of the financial statements were: J Rees (resigned 1 January 2026) D Minsky A Morris Where the board of Trustees perceive a need, new Trustees are inducted by the board, and are provided with an induction briefing. The Trustees’ report was approved by the Board of Trustees. ## **D Minsky** Trustee Dated 30 June 2026 4 New Shul Charitable Trust (N.S.C.T.) (‘the Charity’) ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF NEW SHUL CHARITABLE TRUST (N.S.C.T)** I report to the trustees on my examination of the financial statements of New Shul Charitable Trust (N.S.C.T.) (‘the Trust’) for the year ended 31 August 2025. ## **Responsibilities and basic of report** As the trustees of the Trust you are responsible for the preparation of the financial statements in accordance with requirements of the Charities Act 2011 (‘the 2011 Act’). I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the trust as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those record; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out In the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. ## **Emphasis of matter** Your attention is drawn to the material uncertainty in the ability of the of the Trust to continue to operate as a going concern as disclosed in note 1.2 to the financial statements. I have no other concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Shaya Grosskopf FCA 1g Accountants Chartered Accountants Churchill House 137-139 Brent Street NW4 4DJ 30 June 2026 5 New Shul Charitable Trust (N.S.C.T.) (‘the Charity’) ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 AUGUST 2025** |**Income from:**
**Notes**
Donations and
legacies
**2**
Investment income
**3**
**Total Income**
**Expenditure on:**
Charitable activities
**4**
**Total Expense**
**Net (deficit) /**
**income for the year**
**and net movement**
**in funds**
Fund balances at 1
September
**Accumulated surplus**
**/ (deficit) at 31**
**August**|**Restricted**
**funds**
**2025**
**£**
6,127
-
6,127
6,127
6,127
-
-
**-**|**Unrestricted**
**funds**
**2025**
**£**
303,425
323
303,748
289,246
289,246
14,502
(10,816)
**3,686**|**Total funds**
**2025**
**£**
309,552
323
309,875
295,373
295,373
14,502
(10,816)
**3,686**|**Total**
**Funds**
**2024**
**£**
266,501
265| |---|---|---|---|---| |||||266,766| |||||312,587| |||||312,587| |||||| |||||(45,821)| |||||35,005
**(10,816)**| 6 New Shul Charitable Trust (N.S.C.T.) (‘the Charity’) ## **STATEMENT OF FINANCIAL POOSITION AS AT 31 AUGUST 2025** |**Notes**
**Fixed assets**
Tangible assets
**7**
**Current assets**
Debtors
**8**
Cash at bank and in hand
**Total current assets**
**Creditors: amounts falling due within**
**one year**
**9**
**Net current assets**
**Total assets less current liabilities**
**Funds of the charity**
**Unrestricted and total funds**|**2025**
**£**
1,506
18,096
18,144
**36,240**
(34,060)
**2,180**
**3,686**
**3,686**|**2024**
**£**
2,008
9,824
15,886| |---|---|---| |||**25,710**| |||(38,534)
**(12,824)**| |||**(10,816)**| |||**(10,816)**| The financial statements were approved by the Trustees on 30 June 2026 ## **D Minsky Trustee** 7 New Shul Charitable Trust (N.S.C.T.) (‘the Charity’) ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** ## **1. Accounting policies** ## **Charity information** New Shul Charitable Trust (N.S.C.T.) (‘the Charity’) is an unincorporated charitable trust established by a trust deed on 29 January 2004. ## **1.1 Accounting convention** The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The charity has availed itself of the exemption for smaller entities from preparing a cashflow statement. ## **1.2 Going concern** The Trustees have prepared the accounts using the going concern presumption. Accumulated reserves at 31 August 2025 at £3,686 were significantly below the target of 3 months’ expenditure of £72,300. Interim accounts in the period after the year end show a significant deficit. Accordingly, the Trustees have identified a material uncertainty in the ability of the charity to continue as a going concern. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. The charity has no restricted funds, being funds which are subject to specific conditions set by the donors as to how they may be applied. ## **1.4 Income** Income is recognised when the trust is legally entitled to it, when the amount of income can be reliably evaluated, and it is probable that the income will be received. General donations and pledges are recognised on receipt. Membership subscriptions are recognised over the course of the membership year. Gift aid tax refundable is recognised at the time of the donation to which the refund pertains. ## **1.5 Expenditure** Resources expended are included in the financial statements when incurred. Expenditure on charitable activities. Expenditure is allocated between direct expenditure on charitable activities, and expenditure on governance costs. Support costs are allocated between the costs based on an estimate of proportion of expenditure applicable to each. 8 New Shul Charitable Trust (N.S.C.T.) (‘the Charity’) ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 (continued)** ## **2 Donations and legacies** ||**Restricted**|**Unrestricted**|**Total funds**|**Total funds**| |---|---|---|---|---| ||**funds 2025**|**funds 2025**|**2025**|**2024**| |Donations and|6,127|303,425|309,552|266,501| |legacies received||||| Restricted funds received represents grants from the Community Security Trust, a UK registered charity, which was designated to cover synagogue security costs. ## **3 Investment income** ||**Unrestricted and**|**Total funds 2024**| |---|---|---| ||**Total funds 2025**|| |Bank interest|323|265| ## **4 Expenditure on charitable activities** |Bad and doubtful
debts
Depreciation
Bank charges
Charitable
expenditure
Administrative
expenditure
Grants made
Professional fees|**2025**
**Direct charitable**
**expenditure**
(6,168)
502
-
240,878
-
35,541
-
267,853|**2025**
**Allocated**
**support costs**
-
-
565
-
5,993
-
18,062
27,520|**2025**
**Total**
(6,168)
502
565
240,878
5,993
35,541
18,062
295,373|**2024**
**Total**
2,094
670
987
267,596
5,428
19,300
17,985
314,060| |---|---|---|---|---| Support costs have been allocated wholly to charitable expenditure reflecting the Trustees’ estimate of the application of these expenses. Grants totalling £28,490 (2024: £10,650) were made to 7 (2024: 5) individual recipients for the alleviation of poverty. Grants of £7,051 (2024: £8,650) were made to 2 (2024: 3) charities in the financial year for the purpose of the alleviation of poverty, provision of emergency medical assistance, and religious education. Restricted charitable expenditure of £6,127 (2024: £7,838) related to expenditure on security costs. 9 New Shul Charitable Trust (N.S.C.T.) (‘the Charity’) ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 (continued)** ## **5 Trustees** During the year donations by the Trustees to the Charity and expenses of the Charity paid for by the trustees and reimbursed or credited to them, excluding regular membership donations, were as follows: ## 2025 ||Donations|Expenses reimbursed| |---|---|---| ||£|£| |Total|10,680|736| |2024||| ||Donations|Expenses reimbursed| ||£|£| |Total|5,516|312| Included in other creditors is an amount of £2,361 (2024: £6,000) advanced by D Minsky, a trustee of the Charity, to the Charity, which is interest free and repayable upon demand. Included in other creditors is an amount of £2,500 (2024: £nil) advanced by A Morris, a trustee of the Charity, to the Charity, which is interest free and repayable upon demand. ## **6 Employees** The average monthly number of employees during the year was as follows ||**2025**|**2024**| |---|---|---| |Average monthly number of employees|2|3| There were no employees whose annual remuneration was £60,000 or more. Gross salary expenses included in charitable costs were £17,186 (2024: £78,359). Employer NI costs were £241 (2024: £4,954). Pension costs were £50 (2024: £2,292). 10 New Shul Charitable Trust (N.S.C.T.) (‘the Charity’) ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 (continued)** ## **7 Tangible fixed assets** |**Cost**
At 1 September 2024
Additions
At 31 August 2025
**Depreciation**
At 1 September 2024
Depreciation charged in the year
At 31 August 2025
**Carrying amount**
At 31 August 2024
At 31 August 2025|**Fixtures, fittings**
**& equipment**
**£**
36,718
-
36,718
34,710
502
35,212
2,008
1,506|**Total**
**£**
36,718
-| |---|---|---| |||36,718| |||34,710
502| |||35,212| |||| |||2,008
1,506| ## **8 Debtors** |Trade debtors
Other debtors
Prepayments and accrued income|**2025**
**£**
10,384
3,695
4,017
18,096|**2024**
**£**
5,535
2,816
1,473
9,824| |---|---|---| Trade debtors are stated after a provision for bad and doubtful debt of £17,082 (2024: £23,250). ## **9 Creditors: amounts falling due within one year** |Trade creditors
Other creditors
Taxes and social security
Accruals and deferred income|**2025**
**£**
14,691
10,404
209
8,756
34,060|**2024**
**£**
17,477
12,000
4,011
12,406
45,894| |---|---|---| 11 New Shul Charitable Trust (N.S.C.T.) (‘the Charity’) ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 (continued)** ## **10 Operating leases** The total of future minimum lease payments under non-cancellable operating leases are as follows: ||**2025**|**2024**| |---|---|---| ||**£**|**£**| |Land and buildings||| |Not later than one year|8,494|60,000| |Between one year and five years|-|8,494| Operating lease expenditure in the year was £53,932 (2024: £52,873). ## **11 Independent examiner’s remuneration** The independent examiner was not remunerated for his services in the current or prior year. 12