Charlty r•gl•tr•tlon nufflb•f 1113128 (England and Wal••) ISHADA CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
ISHADA CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trust••% Mr J Sellg Mr8 J Selig Mr S M Fe18teln Charlty numb 1113128 Prfnclp•l address 1 Bt Floor, Clol8ter Hou8e Riversid8 New Bailey Street Manchester M3 5FS Independent •xamln•r Elliot Fidler 1st Floor Rico House George Street Manchester M25 9WS
ISHADA CHARITABLE TRUST CONTENTS Page Trustees. report Independent examlners port ststement of financial activities Balance sheet Notes to the financial ststements
ISHADA CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and flnanclal 8tatements for the year ended 31 December 2024. The financial statements have been prepared In accordance wlth the accountlng pollcles set out In note 1 to the financial statements and comply wlth the trust's govemlng document, the Charlt18s Act 20118nd "Accountlng and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financlal Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102). (as amended for accounting periods commencing from 1 January 2016) Objectlves and actlvltles The trust's objects are the relief of poverty, the advancement of education, the advancement of the religion of the Jewish faith and for general charitable purposes. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake. Achievements and performance Significant actiw'ties and achievements against objectives The charity has distributed funds to other charities and charitable causes during the year in accordance with the tharity's objectives. Financial review During the year under review, the charity received donations of £76,260 (2023: £85,213). This gave the charity resources available for grants of £125.783 (2023: £225,085) after govemance costs of £22 (2023: £47). Distributions totalling £57,832 (2022: £175,540) were made to other charities and individuals in accordance with the objectives of the charity resulting in a increase of its opening funds of £49,545 by £18,406 to £67,951 at 31 December 2024. Reserves policy It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three month's 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 trusvs current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintsined throughout the year. Major risks The trustees have 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. Strudure, govemance and management The trust was established by a charitsble trust deed on 6 February 2006. The trustees who served during the year and up to the date of signature of the financial statements were: Mr J Selig Mrs J Selig Mr S M Felstein Recrultment and appolntment of trustees Any recruitment and appointment of new trustees would be In line Wlth the trust deed and wlth the consent of the existing trustees. Funds held as custodlan trustse There were no funds held as cu6todian tnJ6tees on behalf of other8.
ISHADA CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The tNstees' report W8 roved by the 808rd of TrusteeB. Mr J Selig Trust•• Date: ..
ISHADA CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ISHADA CHARITABLE TRUST I r8port to th8 tN8t86s on my 8xamlnatlon of the flnanclal 8tatements of18hada Charftable Trust (tho trust) for th6 y88r 8nded 31 Dec8mb8r 2024. R•w)on$lbllltles and ba818 of report As the truste of the trust you are re8pon8lble for th8 praparatlon of the financlal 8tatement8 In aceA>rdanc wllh the wulrements of the Charltles Act 2011. I rBport h respect of my 8xamlnation of th8 bu8t'8 flnancl818tatement8 carried out under sectlon 145 of tho Charltle8 Act 2011. In catyng out my 8xamination I have followed the Dlr8Ctlon8 giv8n by th8 Charity Commlsslon under sectlon 145(5)(b) of the Charltl88 Act 2011, Indepondont oxamln6rfs 8tatomont Your atttIOn Is drawn to the fact that the tharlty has prepared the financial slatement8 In accordance wlth the levant verslon of the Statement of Recommended Pradice appllcable to charlties preparlng their fnancial stataments In accordanco with th8 Flnancial Reporting Standard appllcable In the UK and Republic of Ireland (FRS 102) In prefer6nc8 to the Accounting and Reportlng by Charities: Statement of Recommended Practlce sued cffi 1 AprH 2005 which 18 referred to In th8 8Xtant regulation8 but has now been withdrawn. l understand that thls has been done in Oler for th8 financial statements to provlde a true and fair view in accordance with UK GerallY Accepted Accounting Pr8(aice. I have completed my examination. I conflrm that no matters have come to my attentlon In connecoon with the examlnatlon giving me cause to believe that in any material respect: accountlng records were not kept In respect of the trust as requlred by saction 130 of the Charities Act 2011. the finandal statements do not accord wlth those records; or the flnandal statements do not comply wlth the appliiable requirements concemlng th8 fomi and )ntent of financlal statements set out In the Charitias (Accounts and Roports) Regulation8 2008 other than any requirement that the flnandal statements glve a true and fair vi@w, which 18 not a matter u)nsidered as part of an Independent examinatlon. I have no concem8 and have come across no other matters In connection with the 8xamination to which attentlon thould be drawn In thls report In order to enable a proper und8rstanding of the financial statements to be reached. Elliot Fidler FCA 1st Flo(x RKO Hou6e orge Street Manchester M25 9W8 Dated: ....i%IIA./.&C....
ISHADA CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrlcted Unrestrlcted funds funds 2024 2023 Notes Ineorne from: Donations and legacies 76,260 85,213 Total income 76,260 85,213 Expenditure on: Charitsble activities Other expenditure 57,832 22 175,540 47 Total expenditure 57,854 175,587 Net incomel(expendlture) and movement in funds 18,406 (90,374) Reconciliation of funds: Fund balances at 1 January 2024 49,545 139,919 Fund balances at 31 December 2024 67,951 49,545 The ststement of finanaal activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
ISHADA CHARITABLE TRUST BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Noteg Curr•nt assets Cash at bank and in hand 68,131 49,725 Crodltors: amounts falllng due wlthln one year 10 (180) (180) Net current assets 67,951 49,545 The funds of the trust Unrestricted funds 11 67,951 49,545 67,951 49,545 21 Oc¥.2oL5 The financial statements were approved by the trustees on ...... ... Mr J S811 Trustee
ISHADA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Aecountlng pollcles Charfty Inforniatlon Ishada Charitable Twst is a Charftable Trust registered by the Charlty Commlssion. ft's registered charlty number is 1113128. 1.1 Accountlng conventlon The financial statements have been prepared In accordance with the charity's deed of trust, the Charities Act 2011 and °Accounting and Reporting by Charities: 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). (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102. The tNst has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 onty to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the trust. Monetsry amounts in these financial statements are rounded to the nearest £. 1.2 Going concern At the time of approving the financial ststements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltsble funds Unrestricted fvnds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restrlcted funds are subject to speclfic conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted fvnds are set out in the notes to the financial statements. 1A Incoming resources Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 1.5 Cash and cash equlvalents Cash and cash equivalents indude cash In hand. deposits held at call with banks, other short-tem liquid investments with original maturities of thre8 month5 or18ss, and bank ov8rdrafts. Bank overdrafts are shown within borrowings in current liabilities. Baslc financlal assets Basic financial assets, which indude debtors and cash and bank balances, are initially measured at transaction price induding tran6action costs and are subsequently carried at amortised cost using the effective Interest method unless the arrangement Constitutes a financing transactlon, where the transaction is measured at the present value of the futur8 receipts discounted at a market rate of interest. Financial assets dassified as receivable within one year are not amortised.
ISHADA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcle8 (Conllnu•d) Bask financial Ilabilltles Basic financial liabilities, including creditors and bank loans are initially recognised 8t transaction price unless the arrdngement constitutes a financing transaction, where the debt Instrument is measured at the present V81ue of the future payments discounted 8t a market rate of interest. Flnancial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequently carrled at amortised cost, using the effectlve interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities rf payment is due within one year or less. If noL they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognitlon of ffnancial liabilltles Financial liabilities are derecognised when the trust's contractual obligations expire or are discharged or cancelled. Income from donatlons and legacles Unrestricted Unrestricted funds funds 2024 2023 Donations and gifts 76,260 85.213 Charitable activities 2024 2023 Grant funding of activities (see note 4) 57,832 175,540 Grants payable Grants payable 2024 Grants payable 2021 Grants to institutions: Advancement of the Jewish faith 55,972 155,740 Grants to individua16 1,860 19,800 Material grants were made to The Purim Fund £20,000 and SCH Charitable Tru8t £10,000.
ISHADA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 N•t mov•m•nt In fund8 2024 2023 The net movement In funds Is stated after charplngl(credltlng): Fees payable for the independent examination of the charity's financial statements Trustees None of the trustees (or any persons connected with them) receoved any remuneration durfng the year. Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel There was no remuneration of key management personnel. Unrestricted Unrestricted funds fvnds 2024 2023 Bank tharges 22 47 22 47 Taxation The Gharity is exempt from tsxation CY) its activities because all its income is applied for charitsble purposes. 10 Credltorn: amounts falllng due wlthln one year 2024 2023 Awuals and deferred income 180 180
ISHADA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Unr•strlet•d funds The unrestrlcted funds of the charlty comprise the unexpended balances of donations and grant8 which ara not subject to specific conditions by donors and grantors as to how they may be used. These indude (lesignated funds which have been set aside out of unrestrlcted funds by the trustees for specific purposes. At 1 January 2024 Incomlng ResoureA8 resources •xpended At31 D0mber 2024 General funds 49,545 76,260 (57,854) 67,951 Previous year At 1 January 2023 Incoming Resources resources expended At31 December 2023 Generdl funds 139,919 85,213 (175,587) 49,545 12 Related party transactlons There were no disdosable related party transactions during the year (2023 - none).