Registered number: 03942136
Charity number: 1114730
JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT
CHARITABLE TRUST)
(A company limited by guarantee)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the Company, its Trustees and advisers
Trustees. report
Trustees. responsibilities statement
Independent auditors. report on the financial statements
Statement of financial activities
Balance sheet
10
Statement of cash flows
Notes to the financial statements
12-20

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
Ishai Novick
David Moody
Robert Gershon
Mark Hurst (appointed 1 September 2024)
Michael Dunitz (appointed 4 January 2025)
Isaac Cooper (appointed 22 July 2025)
Stewart Sether (appointed 22 July 2025)
Noam Attar {appointed 22 July 2025)
Anthony Wagerman (appointed 1 September 2025)
Miriam Benchetrit (appointed 28 October 2025)
Andrew Moss (resigned 1 September 2024)
Richard Kafton (resigned 23 July 2025)
Stephen Pack (resigned 1 September 2025)
Company registered
number
03942136
Charity number
1114730
Registered office
JFS School
The Mall
Kenton
Harrow
Middlesex
HA3 9TE
Company Secretary
Ms Manpreet Bal
Company Number
03942126
Independent auditors
BKL Audit LLP
35 Ballards Lane
London
N3 1XW
Bankers
Barclays Bank PIC
PO Box 3474
London
NW17NQ
Page 1

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Introduction
The Trustees (who are also the Directors of the charitable company) submit the Report and audited Financial
ststements of the JFS Charitable Trust Limited (the Trust) for the year ended 31 March 2025. The Trustees
have adopted the provisions of the Statement of Recommended Practice "Accounting and Reporting by
Charities" in preparing the annual report and financial statements of the charity.
The financial ststements have been prepared in accordan￿ with the accounting policies set out in notes to the
accounts and comply with the charity's governing document, the Companies Act 2006, the Charities Act 2011
and the Statement of Recommended Practice "Accounting and Reporting by Charities"
Legal and Administrative Infonnation
The charity is incorporated as a company limited by guarantee. registration number 3942126. The governing
instrument is the Memorandum and Articles of Association dated 2 March 2000, as amended on 17 February
2006. The charity was considered to be an exempt charity under the Charities Act 2011 on incorporation as it
was under the control of the Goveming Body of the JFS School, itself an exempt charity. Following the decision
of the Governing Body to relinquish control of the Trustee Body. the charity registered with the Charity
Commission on 17 June 2006.
The governance of the charity is vested in the Trustees. The Trustees who seNed during the year are listed on
page 1 and 3 were Governors of the JFS School for most of the time during the year. The Trustees are selected
to ensure that there is an appropriate balance of skills and experience within the Trustee Board. New Trustees
are appointed by the existing Trustee Board.
Structure, governance and management
The day to day running of the Trust is delegated to an administrator and overseen by the Trustees who meet
termly.
Trust Objects and Public Benefit
The objects of the Trust are to advan￿ the education of pupils at the JFS School (the School} by the acquisition
of land for the School and the provision of reSoUr￿s. equipment, teaching and facilities for education in addition
to those provided out of public funds. The Trustees confirm that they have paid due regard to the Charity
Commission's guidance on Charities and Public Benefit when reviewing the activities of the Trust.
Objectives and Activities
The objectives of the charity as per its governing document are-
To advance the education of pupils at the School by the acquisition of land for the School- and
The provision of resources, equipment, teaching and facilities for education in addition to those provided out
of public funds
In furtherance of its charitable objects. during the year to 31 March 2025, the Trust raised charitable donations
to enable JFS to continue to advance the educab'on of all children who attend the school, including Jewish
religious education.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefit. including the guidance 'Public benefit- running a
charity {PB2}'.
Page 2

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Strategies for achieving objectives
The trustees have the key strategic objective of raising charitable funds in order to support JFS and enable the
school to..
Maintaining the school premises to provide a facility that ensures the highest quality of education for the
children
Continuing maximum potential pupil intakes in each year
Retaining and recruiting leading£dge staff members to drive the delivery of the school's ethos whilst
supporting staff training and development needs
Achieving core financial stability
The delivery of this is underpinned by a comprehensive and detailed fundraising plan.
Activities and Achievements
The trustees will continue to undertake a number of fundraising activities and maintain spending priorities for the
school, in line with the strategic priorities of JFS.
During the year the charity has supported developments in the school including curriculum development as well
as investment in the physical and academic structure of the school through a series of financial donations made
to the school in support of its overall budget.
The Trust administers the system of parental Voluntary Contributions, claiming Gift Aid on qualifying donations,
together with general fiJndraising activities in support of JFS.
During the year the Trust undertook a major review of its governan￿ structure and fvture strategic direction
which lead to
Enhan￿d Governan￿ and Administrative oversight including the adoption of updated governance
instruments
Direct employment of a dedicated Director of Fundraising
Focus on increasing parental Voluntary Contribution rates
There were also a number of changes to the Board of Trustees that are detailed above.
Review of the Business and Future Plans
The financial results for the year are set out on Page 9.
The Trust will continue to support the development of JFS School. Further support will be provided to curriculum
development and the School infrastructure.
Financial Review
Goin
concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Trust has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the
going concern basis can be found in the accounting policies.
Page 3

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Reserves
olic
As of 31 March 2025, the trust had total funds of approximately £241.053 all of which were unrestricted funds.
Princi
al fundin
The major sources of incoming resources during 2024-25 were charitable donations. It is only with this range of
donations that the Trust can provide the quality and range of SeNi￿S expected by the school community. The
costs of providing charitable activities are met entirely from donations.
Reserves
Funds as at 31 March 2025 amounted to £241.053 (2024- £303.168) of which all was unrestricted. The primary
purpose of the Trust is to raise funds for JFS School and to consider funding requests from the School for
purposes in accordance with the objects of the Trust. It is the intention of the Trustees to maintain a significant
level of unrestricted reserves to enable the settlement of expenses associated with the continuing expansion of
the School and to provide for its future development needs.
Investment Policy
During the year, Trustees maintained the investment portfolio in cash management funds.
The Trustees are satisfied that the Trust can continue to meet all its financial obligations on an on-going basis.
Risk Management
The Trustees have examined the principal areas of the Trust's operations and considered the major risks faced
in each of these areas.
In the opinion of the Trustees, the Trust has an effective review system and has allocated sufficient resources to
ensure that those risks identified will be mitigated to a level acceptable for the Trust's day to day operations.
Disclosure of Information to Auditors
The Trustees who held office at the date of approval of this Trustees, Report confirm that, so far as they are
individually aware, there is no relevant audit information of which the charity's auditors are unaware- and each
Trustee has taken all reasonable steps that they ought to have taken as a Trustee to make themselves aware of
any relevant audit information and to establish that the charity's auditors are aware of that information.
In preparing this report. the Trustees have taken advantage of the small companies exemptions provided by
section 415A of the Companies Act 2006.
Auditors
Our independent auditor BKL Audit LLP has signified its willingness to continue in office.
Approved by order of the members of the board of Trustees on 30110/2025
and signed on their behalf by..
Ishai Novick
Trustee
Page 4

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for
preparing the Trustees, report and the financial statements in accordan￿ 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 must not approve the financial statements unless they are satisfied that they give a true and fair
view of the state of affairs of the Company and of its incoming reSoUr￿S and application of resources, including
its income and expenditure, for that period. In preparing these financial statements, the Trustees are required
to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP (FRS 102).,
make judgments and accounting estimates that are reasonable and prudent"
state whether applicable UK Accounting Standards (FRS 1021 have been followed, subject to any
material departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Company's transactions and disclose with reasonable accuracy at any time the financial position of the
Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 30110/2025
and signed on its behalf by..
Ishai Novick
Trustee
Page 5

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF JFS CHARITABLE TRUST LIMITED
(FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
Opinion
We have audited the financial statements of JFS Charitable Trust Limited (formerly JFS Development
Charitable Trust) (the 'charitable company) for the year ended 31 March 2025 which comprise the Statement of
financial activities, the Balance sheet. the 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, (United Kingdom Generally Accepted
Accounting Practice).
In our opinion the financial statements-
give a true and fair view of the stste of the charitable company's affairs as at 31 March 2025 and of its
incoming resources and application of reSoUr￿s, induding its income and expenditure for the year then
ended.,
have been properly prepared in accordan￿ with United Kingdom Generally AC￿pted Accounting
Practice., and
have been prepared in accordan￿ with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordan￿ with Intemational Standards on Auditing (UK) (ISAS (UK}) 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 charitable company in accordance
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 concern
In auditing the financial statements, 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 charitable company's ability to
continue as a going concem for a period of at least ￿e1ve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going cOn￿M are described in the
relevant sections of this report.
Page 6

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF JFS CHARITABLE TRUST LIMITED
IFORMERLY JFS DEVELOPMENT CHARITABLE TRUST) (CONTINUED)
Other infonnation
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 to the extent othetwise explicitly stated in our report. we do not express any form of assurance
conclusion thereon. Our responsibility is to 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 othewise 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
misstatement 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.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to report to you if. in our opinion..
the information given in the Trustees, report is inconsistent in any material respect with the financial
statements., or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records and returns,. or
we have not received all the information and explanations we require for our audit.
Responsibilities 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 law} 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 necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's
ability to continue as a going concern, disclosing, as applicable, matters related to going cOn￿M and using the
going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to
cease operations, or have no realistic altemative but to do so.
Page 7

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF JFS CHARITABLE TRUST LIMITED
IFORMERLY JFS DEVELOPMENT CHARITABLE TRUST) (CONTINUED)
Auditors. responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect thereunder.
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 to issue an Auditors, report that includes our
opinion. Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement 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 to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud is detailed below..
We obtained an understanding of the charitable company and the sector in which it operates to identify laws and
regulations that could reasonably be expected to have a direct effect on the financial statements. We obtained
our understanding in this regard through discussions with management. industry research, application of
cumulative audit knowledge and experience of the sector.
A further description of our responsibilits-es for the audit of the financial statements is located on the Financial
Reporting Council's website at" www.frc.or
.ukJauditorsres
onsibilities. This description forms part of our
Auditors, report.
Use of our report
This report is made solely to the charitable company's trustees, as a body. in accordance with Part 4 of the
Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state
to the charitable company's trustees those matters we are required to state to them in an Auditors, report and
for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone other than the charitable company and its members. as a body, for our audit work, for this report, or for
the opinions we have formed.
Carly Pinkus (Senior Statutory Auditor)
BKL Audit LLP
35 Ballards Lane
London
N3 1XW
Date:
09/1112025
BKL Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 8

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Note
Income from:
Donations
1.721,776
85,383
1.721,776
85,383
2,370,947
71,275
Investments
Total income
1,807,159
1,807,159
2,442,222
Expenditure on:
Activities for generating voluntary income
Charitable activities
Support costs
14,655
1.820,278
34,341
14,655
1.820,278
34,341
21,011
2,501, 126
41,022
Total expenditure
1,869,274
1,869,274
2,563, 159
Net expenditure before net losses on investments
Net losses on investments
(62,1151
{62,115)
(120, 937)
(19,947)
Net movement in funds
162,115
(62,115)
(140, 884)
Reconciliation of funds:
Total funds brought forward
Net movement in funds
303,168
(62,1151
303,168
{62,115)
444, 052
(140, 884)
Total funds carried forward
241,053
241,053
303, 168
The funds of the Trust derive from continuing activities. The Trust had no recognised gains and losses other
than those included above.
The notes on Pages 12 to 20 form part of these financial statements.
Page 9

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
REGISTERED NUMBER: 03942136
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Note
Fixed assets
Investments
145,035
1,910,471
Current assets
Debtors
Cash at bank and in hand
17.301
110.607
126,672
747, 896
127,908
874, 568
Current liabilities
Creditors.. amounts falling due within one
year
10
(31.890)
(2,481,871)
Net current assets I liabilites
96,018
(1, 607,303)
Net Assets
241,053
303, 168
Funds
Unrestricted
241,053
303, 168
241,053
303, 168
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section
476 of the Companies Act 2006.
However, an audit is required in accordan￿ with section 144 of the Charities Act 2011.
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 statements have been prepared in accordan￿ with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 3011012025
and signed on their behalf by..
shai Novick
Trustee
The notes on pages 12 to 20 form part of these financial statements.
Page10

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Cash flows from operating activities
Net cash used in operating activities
(2,487.289)
1,477,339
Cash flows from investing activities
Investment income
84.564
71,275
(843,380)
Purchase of investments
Net cash movements in Cazenove investment
1,765.436
Net cash provided byl(used in) investing activities
1,850,000
{772,105
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
1637.289)
705.234
747.896
42,662
Cash and cash equivalents at the end of the year
110,607
747,896
The notes on pages 12 to 20 form part of these financial statements
Page11

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102)
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) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the
Companies Act 2006.
JFS Charitable Trust Limited (formerly JFS Development Charitable Trust) 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 stated in the relevant accounting policy.
1.2 Income
All income is recognised once the Company has entitlement to the income, it is probable that the
income will be received. and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of
receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of
entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to
them (through knowledge of the existence of a valid will and the death of the benefactor) and the
executor is satisfied that the propety in question will not be required to satisfy claims in the estate.
Receipt of a legacy must be recognised when it is probable that it will be received and the fair value
of the amount receivable, which will generally be the expected cash amount to be distributed to the
Company, can be reliably measured.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is re￿1Vable.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third paty. it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is classified by
activity. The costs of each activity are made up of the total of direct costs and shared costs,
including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activity
and support costs which are not attributable to a single activity are apportioned be￿een those
activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Company's objectives. as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 12

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies (continued)
1.4 Interest receivable
Interest on funds held on deposit is included when re￿1vable and the amount can be measured
reliably by the Company- this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
1.5 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Company and which have not been designated for other
purposes.
1.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance sheet date, unless the
value cannot be measured reliably in which case it is measured at cost less impairment. Investment
gains and losses. whether realised or unrealised, are combined and presented as 'Gainsl(Lossesl
on investments, in the Statement of financial activities.
1.7 Taxation
The Trust as a registered charity is not liable to income tax or corporation tax on income derived
from its charitable activities. Income arising from non-charitable activities may be subject to taxation.
The Trust is not registered for VAT. All amounts in the Financial Statements are shown inclusive of
VAT, where relevant.
Page13

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Income from donations and legacies
Unrestricted
funds
2025
Total
funds
2025
Donations
GiftAid
1,490,091
230,555
1,130
1,490,091
230.555
1,130
Alumni
1,721,776
1,721,776
Unrestricted
funds
2024
Total
funds
2024
Donations
Gift Aid
Alumni
2, 112,505
256, 032
2,410
2, 112,505
256, 032
2,410
2,370,947
2,370,947
Investment income
Unrestricted
funds
2025
Total
funds
2025
Bank interest
819
819
Investment income
84,564
84,564
85,383
85,383
Page 14

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Investment income (continued)
Unrestricted
funds
2024
Total
funds
2024
Bank interest
3,849
67,426
3, 849
67,426
Investment income
71,2T5
Tt,275
Activities for generating voluntary income
Unrestricted
funds
2025
Total
funds
2025
Alumni costs
Other costs
Costs of raising voluntary income
125
46
125
46
14,484
14,484
14,655
14,655
Unrestricted
funds
2024
Total
funds
2024
other costs
14,638
6,373
14,638
6,373
Costs of raising voluntary income
21,Olt
21,011
Page15

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Resources Expended on Charitable Activities
Unrestricted
funds
2025
Total
2025
Payments for additional equipment outside the PFI contract
Pension costs
Transfers to JFS School
19,739
539
1,800,000
19.739
539
1,800.000
1,820,278
1,820.278
Unrestricted
funds
2024
Total
2024
Payments for additional equipment outside the PFI contract
Other Donations
Other
Transfers to JFS School
38, 777
960, 000
2,349
1, 500, 000
38, 777
960, 000
2,349
1, 500, 000
2,501, 126
2,501, 126
Staff costs
In January 2025, the Trust appointed a Director of Fundraising and the costs are met from the funds of
the Trust. None of the Trustees re￿iVed remuneration directly or indirectly from the Trust. No Trustees,
expenses have been incurred in the year ended 2025 or 2024.
Page 16

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Support costs
Unrestricted
funds
2025
Total
funds
2025
Auditors, remuneration - current year charge
Bank charges
Professional fees
12,653
7,882
13,806
12.653
7,882
13.806
34,341
34.341
Unrestricted
funds
2024
Total
funds
2024
Auditors, remuneration - current year charge
Bank charges
Professional fees
7, 723
6,249
27,050
7, 723
6,249
27,050
41,022
41,022
Investments
Listed
investments
Cost or valuation
At 1 April 2024
Additions
Disposals
1.910,471
84,564
{1.850,000)
At 31 March 2025
145,035
Net book value
At 31 March 2025
145,035
At 31 March 2024
1,910,471
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JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Investments (continued)
Portfolio
2025
2024
Cash equivalents (Money Market)
145.035
1,910,471
145,035
1,910,471
Investments consist of cash funds of £145,035 held in Cazenove-managed money market funds. These
are highly liquid, short-term investments that are readily convertible into cash with minimal risk of
changes in value.
Debtors
2025
2024
Due within one year
Gift Aid tax refund re￿1vable
Prepayments
6,131
11,170
116,961
9,711
17,301
126,672
10.
Creditors: Amounts falling due within one year
2025
2024
Trade creditors
2,797
25,182
Accruals
Amounts owed to JFS Student Fund
Other taxation and social security
Pension payable
Trust funding committed to the JFS School
1,719,802
309,378
2,086
310
1,515
452,691
31,890
2,481,871
Page18

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11. Reconciliation of net movement in funds to net cash flow from operating activities
2025
2024
Net expenditure for the year (as per Ststement of Financial Activities)
(62,115)
(140,884)
Adjustments for:
Losses on investments
19,947
(Tt,275)
(62,635)
1, 780,943
Investment income
Decreasel(increase) in debtors
(Decrease)Ilncrease in creditors
(84,564)
109.371
(2,449,981)
Net cash provided byl (used in) operating activities
(2,487,289)
1,526,096
12.
Anatysis of cash and cash equivalents
2025
2024
Cash in hand
110,607
747,896
Total cash and cash equivalents
110,607
747,896
13.
Anatysis of changes in net debt
At 1 April
2024 Cash flows
At 31 March
2025
Cash at bank and in hand
747,896
(637,289
(310)
110,607
1310)
Debt due within 1 year
747.896
(637,599)
110,297
14.
Contingent liabilities
There were no contingent liabilities at 31 March 2025 or 31 March 2024.
Page19

JFS CHARITABLE TRUST LIMITED (FORMERLY JFS DEVELOPMENT CHARITABLE TRUST)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
15. Connected Charities and related party transactions
The JFS Charitable Trust Limited was set up in order to raise funds to acquire land on behalf of and to
support other activities of the JFS School, an exempt charity and voluntary aided school. At 31 March
2025, the Charity had committed to providing specific funding to JFS School of £1,515 (2024 - £452,691)
which was subsequently drawn down after the year end.
The JFS Charitable Trust Limited made donations of £1.809,893 to JFS School during the financial year.
The school is a related paty by virtue of the headteacher and two school governors being trustees of the
trust. The donations were made to support general operations of the school and were approved in
accordance with the trust's governance and financial policies.
At the year-end, the total accrued balan￿ of £9,893 (2024 £1,698,778} remained outstsnding and is
included within creditors on the trust's balance sheet.
16. Limitation of Liability and Distribution of Assets
The Company is limited by guarantee having no share capital. If the Charity is dissolved, every member
remaining or who was a member within 12 months of the winding up has agreed to contribute up to £1
towards the costs of dissolution and the liabilities incurred by the Charity whilst the contributor was a
member.
If the Charity is dissolved the assets remaining (if any. after provision has been made for all its liabilities)
shall be transferred to the JFS School or in the event of the closure of the School, applied either by
transfer to one or more bodies established for charitable purposes similar to the objects nominated by
the body or organisation that at the time has the power to appoint the foundation governors of the School
or in such other manner consistent with charitable status as the Charity Commission shall approve in
writing in advance.
17. Ultimate Controlling Party
The Trustees do not consider that there is an Ultimate Controlling Paty.
Page 20