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 tn￿le¢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 S￿dents 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.'
I8￿4775¢43￿37.
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 f￿anCIal 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 pu￿0$e$ 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.
B4F8FF442￿43F
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 pU￿ose$.
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 incu￿ed. 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-