Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r COMPANY REGISTRATION NUMBER: 04263029 CHARITY REGISTRATION NUMBER: 1106673 LTC Trust Co Company Limited by Guarantee Unaudited Financial Statements 31 August 2025
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Financial Statements Year ended 31 August 2025 Page Trustee5' annual report (incorporating the directorfs report) Independent examinerfs report to the trustees Statement of financial activilies (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not form part of the finaneial statements Detailed statement of financial activities 14 Notes to the detailed statement of financial activities 15
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 August 2025 Thc trustecs, who arc also thc directors for the purw)scs of company law. prcscnt thcir report and thc unaudited financial 5tateTnenls of the charity foi the year ended 31 Augu512025. Reference and administrative details Registered charih- name Charity registration number Companv registration llumber 04263029 Principal office 8 Dunveston St[ London WIH IEW L TC Trusi Co 1106673 Registered 0]ee 8 Durweston Street London WIH IEW The trustees Mr M Wciss Dr D B Landau Independent examiner Dov Harris FCA Ne. Burlinglon House 1075 Finchley Road LONDON NWI I OPU
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Trustee5' Annual Report (Incorporating the Director'5 Report) (coniinued) Year ended 31 August 2025 Structure? governance and management Governing document Thc otyicial name of the charity is LTC Trust Co. The charity 15 a company limited by guarantee and as such is govetned by its Memoiandum and Articles of Association. Appointment, TrainiTJg and Recruitment of Trustee5 All current tnle¢S are company members and no honornry members have been appointed. The trustees administer the day-t041ay affairs of the chariry. Every trustee hol(Lq otTice until helshe shall die or shall cease to hold oifice by virtue of Article 56 of the Articles of Association. It is not ihe intention of the trustees of the chariry to appoint any new tn]stees. Should the situation change in the future, the trustees will apply suitable recruitment training and induction procedures. None of the tn]stees have any beneficial interest in the charity. Risk management The trustees have identified and reviewed the major risks to which the charity is exposed. in particular those related to the opcrations and finance of thc charity. and arc satisficd that systcins arc in place to itigate those risks. Financial risk management and policies The chaiity holds or issues financial insltuments in order achieve two main objectives being= to finance its operations b) to generaiing funds. In addition various financial instruments (e.g. other debtors, other creditors, accruals and prepayments) arise directly from the charity's operniions. Credit risk The Charity monitors eredii risk closely and con.sider8 that its current policies of credit risk checks meets its objectives of managing exposure to credit risk. Amounts shown in the balance sheet represent the maximum credit exposure in the event other parties fail to perforni their obligations under the financial instrurnents. It is recognised that systems can only provide reasonable but not absolute assurance that major risks havc bccn adcquatcly managed.
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Trustee5' Annual Report (Incorporating the Director'5 Report) (coniinued) Year ended 31 August 2025 Objectives and activities Thc objeclives for which thc charity is cstablishcd arc thc advanccmcnl of thc Jcwish rcligion and the ddvancemeni of education in particular {bul wiihoul prejudice io the ¥eneiality of the fore¥oing) by= (a) esiablishing or assisting in the establishment of and maintenance and operation of a ¢ollege for the education and irdining of rabbis, ministers, readers, leachers and other Talmudic scholars- and (b) to assist .quch rnbbis and Sdents who are in need by providing accommodation, maintenance grants, books and such other relief as the trustees think fit. The trustees confinn that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charitys aim and objectives and in planning futurc activitics and sctting thc grant making policy. This principal activity of ihc charity during thc ycar was thc provision of scholarships and grants to its Students and the maint¢nanc¢ and opcration of a collcgc for thc cducalion and trainill¥ of rabbis. ministers, readers. teachers and other Talmudic scholars. In doing so. the charity has complied with its duty to a¢t for public benefit in accordance with seciion 4 of the Charities Act 2006. Aehievements and performance The demands on the charity's funds were in line with expectation for the year under review and the trustees expect the demands to remain at a similar level in future years. Financial review The charity is solely dependent upon donations from the community and other charitable organisations. The charity spent £400,442 in the year12024= £346,250) towards its charitable purposes. Reserves Poliey It is thc policy of thc charity to maintain unrcstrictcd funds. which arc ihc frcc rcscrvcs of thc charity, at a level which the trustCe5 think appropriate after considering thc cxpcctcd income. Ihc future commitments of the charity and ihe likely governance costs of the charity foi the next year. Investment Powers Policv and Objectives In accordance with the trust deed, the trustees have the power to make any investment which the trustees see fit. The trustees regularly review the charity's wsition and neeits in respect of the investment policy. Plans for future periods The charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory incoming resources. The trustees, annual report was approved on 24 April 2026 and signed on behalf of the board of trustccs by= DocuSWdby.' I84775¢4337. Dr D B Landau Trustee
Docusign Envelope ID.. AE6118C6-6A64-87C6-826&976017B9380E LTC Trust Co Company Limited by Guarantee Independent Examiner's Report to the Trustees of LTC Trust Co Year ended 31 August 2025 I report to thc trustccs on my examination of the fanCIal statcn]ents of LTC Trust Co ('the charity,) for the year ended 31 August 2025. Responsibilities and ba515 of report As ihe trustees of the company {and also its direciots foi the pu0$e$ of company law) you are responsible for the preparation of the financial ststements in accordance with the requirements of the Companieq Aci 2006 ('the 2006 Act,). Having saiisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In catrying out my examination I have followed the Directions given by the Charity Commission under scction 145(5){b) of thc 201 l Act. Independent examiner's Statement Since the charity's gross income exceeded £250.0(K) YOUT cxaffliner must be a meTnber of a body listed in section 145 of the 2011 Act. I confirni that l am qualified to undertake the examination be¢auqe l am a member of the Institute of Chartered Accountants in England and Wales (ICAEW). which is one of the listed b(Kiies. I have completed my examination. I confinn that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act.. or 2. the financial statements do not accord with those record5.- or 3. thc financial statcmcnts do not comply with thc accounting rcquircmcnts of scction 396 of thc 2006 Act other than any rcquircmcnt thal thc accounts givc a 'truc and fairf view which 15 not a mattcr considered as part of an independeni exafflinaiion.- 01 4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporling by Charities applicable to charities preparing their accounts in accordance with the Financial Rewrting Standard applicable in the UK and Republic of Ireland {FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. B4F8FF44243F Dov Harris FCA Independent Examiner New Burlington House 1075 Finchley Road LONDON NWII OPU 24 April 2026
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Statement of Financial Activities {including income and expenditure account) Year ended 31 August 2025 21125 Uniestricted funds Total funds Total funds 2024 Income and endowments Donations and legacies Totiil income 413,253 413,253 390,376 413,253 413,253 390,376 Expenditure Expcnditurc on charitablc activitics Total expenditure @7 402.516 402.516 349,370 349,370 402.516 402.516 Net income and net movement in funds 10.737 10.737 41,006 Reconciliation of funds Total funds brought fonyard Total fund5 carried fonTrard 38,788 38,788 (2,218) 38.788 49,525 49,525 The qtatement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The note5 p¥es 7 to 12 form of these statement5.
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Statement of Financial Position 31 August 2025 2025 2024 Note Current a55ets Cash at bank and in hand 51,445 41.908 Creditors: amounts falling due iyithin olle year Net current assets 12 ,920 3.120 49,525 38,788 Total assets less current liabilities 49,525 38,788 Net assets 49,525 38,788 Funds of the charity Unrcstrictcd funds 49.525 38,788 Total charity funds 13 49.525 38,788 For thc ycar cnding 31 August 2025 the charity was cntitled to cxeinption from audit under section 477 of the Companics Act 2006 Iclating Io srnall cotnpanics. Directors, iesponsibilitie5= The mcmbcrs havc not rcquircd thc colnpany to obtain an audit of its financial statements for the year in question in accordance wilh section 476. Thc dircctors acknowlcdgc thcir rcsw)nsibilitics for complying with thc rcquircmcnts of thc Act with respect to accounting records and the preparation of financial Statements. These financial siatements have been prepaTed in accordance with the provisions applicable to companies subject io the small companies, regime_ These financial ststemenis were approved by the board of trustees and authorised for issue on 24 April 2026, and are signed on behalf of the board by= DottuSlgn•d by. 28A04F7SC932437 . Dr D B Landau Trustec The note5 p¥es 7 to 12 form of these statement5.
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2025 General information The charity is a public bencfit cntity and a privatc company limited by guarantcc, registered in England and Wales and a ie¥isiered charity in En¥land and Wale5. The address of the registered office is 8 Dunyeston Road London, Wl H l EW. StatemeTJ¢ of cotnpliance These financial siatements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP {FRS 102)) and the Companies Act 21K)6. Aecounting policies Basis of preparation The financial statcmcnts hayc been prcparcd on the hisiorical cost basis. as modified by the revaluation of cenain financial a55ets and liabilities and inve5tmeTIt properties ineasured at fair value through income or expendilure. The financial statements are prepared in sierlin& which is the funclional currency of the entity. Going toneern There are no material uncertainties al)out the chariiy's ability to continue. The current deficit has been funded by ihe loan creditors who have agreed 10 continue fimding the charity for a further year and have agreed not to request payment within the next twelve months. Disclosure exemptions The entity satisfies the criteria of being a small entity as defined in FRS 102. As such, advantage has been taken of the disclosure exemptions that no cash flow statement has been presented for the company. Judgements and key sources of estimation uncertaintv There arc no jud¥cmentS. C5timates and asSUTllPtions that affcct the amounts reported. Taxation The charily is not liable lo direci laxalion on its in¢OTne as it falls within the i'aiious exemptions available to registered Charities. The ¢hariiy is noi regri.%iered for value added lax (VA T) and is Iherefore unable to reclaim any input it %uffer8 on ILS purchases. Expenditllre in the financial statements is therefore shown inclusive of VAT where appropriate.
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Notes to the Financial Statements (eottiiwued) Year ended 31 August 2025 Accounting policies irLpnlxRuedJ Fund accounting Unrestricted funds ale available for usc at the diSCTetion of the trusice5 to further any of the charity's pUose$. Designated funds are unrestricted funds earniarked by the trustees for particular future project or ¢ommitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the tern of an appeal, and fall into one of two sub-classes= restricted income funds or end0.Ment funds. Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity- it is probable that the econotnic benefits associated with the transaction will flow to thc charity and ihc amount can be reliably Tneasurcd. The following specific policies are applied to particulai categories of income= incomc from donations or grants is rccogni5cd when therc is cvidcnce of cntitlemcnt to the gift, rcccipt is probablc and ils aTnount can bc Tncasurcd reliably. Icgacy incomc is rccogniscd whcn rcccipt is probablc and cntiilcmcnt is cstablishcd. income from donated goods is measured at the fair value of the goods unless this is impractical to mcasurc rcliably. in which casc thc valuc is dcrivcd from ihc cost to thc donor or thc estimatcd rcsalc w71ue. Donated facililies and s¢'1C¢S arc rccognised in the aceounls when received if the value can be reliably Tneasuied. No amounts ale illLluded for the contribuiion of general volunteers. income from contracts foi the supply of service5 is recognised with the delivery of the contracied service. This is classified as unrestricted funds unless there is a Contractual requirement for it io be spent on a particular purp(Kse and returned if unspent. in whi¢h case it may be regarded as restricted.
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Notes to the Financial Statements (eottiiwued) Year ended 31 August 2025 Accounting policies irLpnlxRuedJ Resources expended Expcnditurc is recogry]ised OTt an accruals basis as a liability is incued. Expenditure includes any V AT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which it relates= expenditure on raising funds includes the costs of all fundrnising activities, events, non- charitable trading activities, and the sale of donaied goods. expenditure on charitable aclivilies include5 all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its benefiviaries, including those support cosLq and ¢osts relating to the governance of the charity apportioned to charitable activities. other expenditure in¢ludeg all expenditure that is neiiher related to raising funds for the charity nor part of 11.8 expenditure on chariiable activities. All costs are allocated to expenditure categories reflecting the e of the resource. Direct costs attributable to a single actii'ity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable. justifiable and consistent basis. Financial instruments A financial asscl or a financial liability is rccognised only when the charity becomes a party to the contractual provisions of the instrument. BasiL financial inslruTnentS 7¢re inilially recognised ai ihe amount receivable 01 payable including any related transaction Costs. Current assets and Current liabilities are subsequenily measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can othenvise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in incotne and expenditure. All other such investments are subsequently measured at cost Icss impairnicnt. Other financial instruTncnts. including dcrivativcs. are initially rccogniscd at fair value, unless payTncnt foi an asset is defe beyond normal bu5illC5S terms or financed at a ratc of interest that is noi a market rate. in which case the asset is measured at the present value of the future paJinenLq discounted at a market raie of intere%[ for a similar debt ins(rument. Other finan¢ial instrnments are subsequently measured at fair value, with any changes recognised in the statemeni of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are revieMTed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impaimcnt loss is rccogniscd undcr thc appropriatc hcading in thc statcmcnt of financial activities in which ihe initial gain was Tecognised.
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Notes to the Financial Statements (eottiiwued) Year ended 31 August 2025 Accounting policies irLpnlxRMedJ Financial instruments fcontinmed) For all cquity instrumcnts regardles5 of Significance. and other finaTtcial assets that are individually significant. Ihese are assessed individually for impairnient. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impaiment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial a.sset ihat exceeds what the carrying amount would have been had the impainnent not previously been recognised. Limited by guarantee The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited io an amount not exceeding £1 O. Donations and legaeies Unrc5trictcd Totgl Funds Unrcstrictcd Total Funds Funds 2025 Funds 2024 Donations Donation.q 413,253 413,253 390,376 390,376 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations made Support costs 400.442 2.074 400.442 2.074 346.250 3.120 346,250 3.120 402.516 402.516 349.370 349.370 Expenditure on charitable activitie5 bv activih, Grant funding of activilies Support costs Total funds 2025 Total fund 2024 Donation.q made Governance costs 400,442 400,442 2,074 346,250 3,120 2,074 400,442 2,074 402,516 349,370 Support costs Total 2025 Total 2024 Govcrnancc costs 2,074 3.120 io-
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Notes to the Financial Statements (eottiiwued) Year ended 31 August 2025 Analvsis of grants 2025 2024 Grants to institutions Maintenance and Operation of College of Educaiion Grants to individuals ProN'ision of scholarship and grnnts to studenLs and training of Rabbis, etc 108,000 108,000 292,442 238,250 Total grants 400,442 346,250 10. Independent examination fees 2025 2024 Fees payable to the indcpendent examiner for.. Indcpcndcnt examination of ihc financial statcmcnts 1.920 3.120 11. Trustee remuneration and expenses The charity has no staff othcr than thc two ttustccs. all of horn ¥ivc fvccly of their lime and expertise without any forni of remunerdtion or other benefil in cash or kind {2024- £nil). 12. Creditors: amounts falling due ThithiD one vear 2025 2024 Accruals and deferred income 1,920 3,120 13. Analysis of charitable funds Unrestricted funds At I September 2024 At Income Expenditure 31 August 2025 General funds 38,788 413.253 (402,516) 49.525 At Sepiember 2023 At Income Expenditure 31 August 2024 General fi]nds {2,218) 390,376 (349,370) 38,788 li
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Notes to the Financial Statements (eottiiwued) Year ended 31 August 2025 14. Analvsis of net assets behveen funds Unrestrictcd Total Funds Funds 2025 Current assets credito less than l year Iyet assets 51,445 (1,920) 49,525 51,445 (1,920) 49,525 Unrestricted Total Funds Funds 2024 Current assets Crcditors Icss than l ycar Net assets 41,908 (3.120) 38.788 41,908 (3,120) 38.788 12-
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Management Information Year ended 31 August 2025 The folloiying page5 do not form part of the finallcial statements. 13-
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 August 2025 2025 2024 Income and endowments Donations and legaeies Donations 413,253 390,376 Total income 413,253 390,376 Expenditure Expenditure on eharitable activities Rent Lcgal and profcssional fces Donations made 108,000 2.074 292.442 108,000 3,120 238.250 402.516 349.370 Total expenditure 402.516 349.370 Net income 10.737 41.006 14-
Docusign Envelope ID.. CFA7D85F44C2-W2-803W8D02964r LTC Trust Co Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 August 2025 2025 2024 Expenditure on charitable activities Grantfunding acliviliej Rent Donations made 108,000 292,442 108,000 238,250 400,442 346,250 Governance costs Govcrnance costs - accountancy fee5 Governance costs - legal and other professional fees 1.920 154 3.120 2,074 3,120 Expenditure on cbaritable activities 402,516 349,370 15-