**COMPANY REGISTRATION NUMBER: 06930982 CHARITY REGISTRATION NUMBER: 1131276** ## **THE F W TRUST LTD** ## **TRUSTEES' REPORT AND UNAUDITED ACCOUNTS** **30 JUNE 2024** **THE F W TRUST LTD** ## **THE F W TRUST LTD COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS 30 JUNE 24** ||Pages|| |---|---|---| |Trustees' Annual Report||2| |Independent Examiner's Report||4| |Statement of Financial Activities||5| |Balance Sheet||6| |Notes to the Accounts||7| Page 1 **THE F W TRUST LTD TRUSTEES ANNUAL REPORT** The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 June 2024. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Company No. 06930982** ## **Charity No. 1131276** ## **Principal and Registered Office** 30 Warwick Grove London E5 9HU ## **Directors and Trustees** The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: B Weiser J Frankel J Sofer J S Weiser ## **Accountants** Hirsh Accountants Limited 45 Stamford Hill London N16 5SR ## **OBJECTIVES AND ACTIVITIES** ## The charity's objects are: I The relief of financial hardship, either generally or individually, amongst the elderly or in conditions of need, hardship and distress within the jewish community by making grants of money for providing or paying for items, services or facilities or providing such persons with goods or services which they could not otherwise afford through lack of means. II To advance the jewish religion for the benefit of the public in accordance with the tenets of the orthodox jewish religion. III To advance the education of jewish pupils according to the tenets of the orthodox jewish religion by providing and assisting in the provision of appropriate facilities needed for such purposes iv to promote any purpose that the trustees may decide and that is legally considered charitable. The charity's objectives are to further those purposes both in the UK and overseas which are recognised as charitable under English Law. The charity receives income from charitable donations and investment income, which it utilises in the provision and distribution of grants. The charity's activity is principally, but not limited to, the provision and distribution of grants and donations to charitable organisations and needy individuals for the purpose of the advancement of the orthodox Jewish religion and the prevention and relief of poverty. Page 2 **THE F W TRUST LTD TRUSTEES ANNUAL REPORT** ## **ACHIEVEMENTS AND PERFORMANCE** During the year the charity pursued its philanthropic objects. Investment income aggregated £83,230 (2023: £103,879). Total resources expended was £325,328 (2023: £375,803) resulting in net deficit of £242,098 (2023: deficit of £271,924). ## **FINANCIAL REVIEW** ## **Financial Position** The financial results of the charity for the year ended 30 June 2024 are fully reflected in the attached Financial Statements together with the Notes thereon. The charity's Statement of Financial Activities show a deficit of £242,098 (2023: deficit of £271,924) and total reserves of £1,866,788 (2023: £2,108,886 ). ## **Reserves Policy** It is the policy of the charity to maintain Unrestricted Funds, which include the Free Reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely costs of the charity for the next year. ## **PLANS FOR FUTURE PERIODS** The future plans of the charity are to continue to support organisations advancing the orthodox Jewish religion and relief of poverty in the orthodox Jewish community worldwide. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing Document** The Charity is constituted as a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association. New trustees are appointed based on personal competence, availability and knowledge and familiarity with the community which the charity serves. New trustees are inducted into the workings of the charity by the existing trustees. The trustees administer the day-to-day affairs of the charity. None of the trustees have any beneficial interest in the charity. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102). Signed on behalf of the board J S Weiser Trustee 12 March 2025 Page 3 **THE F W TRUST LTD INDEPENDENT EXAMINERS REPORT** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES of THE F W TRUST LTD** I report to the charity trustees on my examination of the financial statements of THE F W TRUST LTD for the year ended 30 June 2024 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act. Having satisfied myself that the financial statements of the charity 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 your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that: - accounting records were not kept in accordance with section 386 of the 2006 Act ; or - the financial statements do not accord with those records; or - the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or - the financial statements have not been prepared in accordance with the Charities SORP (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 financial statements to be reached. ## **Moshe Hirsh ACCA** Hirsh Accountants 45 Stamford Hill London N16 5SR 12 March 2025 Page 4 ## **THE F W TRUST LTD STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 30 JUNE 2024** |**Notes**
**Income and endowments from:**
Investments
3
**Total**
**Expenditure on:**
Charitable activities
4
Other
6
**Total**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
13
**Total funds carried forward**|**Unrestricted**
**Funds**
**2024**
**£**
83,230|**Total funds**
**2024**
**£**
83,230|**Total funds**
**2023**
**£**
103,879| |---|---|---|---| ||83,230
325,225
103|83,230
325,225
103|103,879
375,700
103| ||325,328|325,328|375,803| ||(242,098)
2,108,886|(242,098)
2,108,886|(271,924)
2,380,810| ||1,866,788|1,866,788|2,108,886| Page 5 **THE F W TRUST LTD BALANCE SHEET** ## **AS AT 30 JUNE 2024** |**Company No.**
**06930982**
**Notes**
**Fixed assets**
Investments
9
**Current assets**
Debtors
10
Cash at bank and in hand
**Creditors:**Amount falling due within one year
11
**Net current assets**
**Total net assets**
**The funds of the charity**
**Total funds**
13|**2024**
**£**
200
200
1,871,537
1,051
1,872,588
(6,000)
1,866,588
1,866,788
1,866,788|**2023**
**£**
200| |---|---|---| |||200
1,958,307
156,379| |||2,114,686
(6,000)| |||2,108,686| |||2,108,886| |||| |||2,108,886| These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 30 June 2024 And signed on its behalf by: J S Weiser Trustee 12 March 2025 Page 6 **THE F W TRUST LTD NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 30 JUNE 2024** ## 1 **General Information** The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 30 Warwick Avenue, London E5 9HU. ## **Statement of Compliance** These financial statements 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 2006. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Going concern** There are no material uncertainties about the charity's ability to continue. - 2 **Accounting policies** ## **Basis of preparation** The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ## **Change in basis of accounting or to previous accounts** There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. ## **Fund accounting** Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Page 7 **THE F W TRUST LTD NOTES TO THE ACCOUNTS** ## **Income** Recognition of income Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on donations and Income from tax reclaims is included in the SoFA at the same time as the gifts gift/donation to which it relates. Donated services and facilities These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. This includes any gain or loss resulting from revaluing investments to market value at the end of the year. Gains/(losses) on revaluation of fixed assets Gains/(losses) on investment This includes any gain or loss on the sale of investments. assets ## **Expenditure** Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on raising funds These comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs. Expenditure on charitable These comprise the costs incurred by the Charity in the delivery of its activities activities and services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Freehold investment property** Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. ## **Trade and other debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Page 8 **THE F W TRUST LTD NOTES TO THE ACCOUNTS** ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. ## **Trade and other creditors** Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## 3 **Income from investments** |**Expenditure on charitable activities**
_Expenditure on charitable activities_
Grants made
_Governance costs_
Independent Examiner's Fees
Legal and Professional Fees|**Unrestricted**
**2024**
**£**
83,230|**Total**
**2024**
**£**
83,230
83,230
**Total**
**2024**
**£**
323,220
1,200
805
325,225|**Total**
**2023**
**£**
103,879| |---|---|---|---| ||83,230||103,879| ||||**Total**
**2023**
**£**
373,700
1,200
800| ||||375,700| ## 4 **Expenditure on charitable activities** Page 9 **THE F W TRUST LTD NOTES TO THE ACCOUNTS** - 5 **Analysis of grants** ## **Activity or programme** Grants |**Grants to**
**Institutions**
**2024**
**£**
323,220|**Total**
**2024**
**£**
323,220
323,220|**Total**
**2023**
**£**
373,700| |---|---|---| |323,220||373,700| ## **Activity or programme** Grants to Institutions |�ikur �holim Limited
�ollel Torah �eyirah Limited
�nited Talmudical �ssociates
UTRY
�hasdei �holom
�oreya T�edokos
�ad �ochessed �ssociation
�ther grants|**Total**
**2024**
**£**
65,000
50,000
50,000
50,000
25,000
25,000
20,000
38,220| |---|---| ||323,220| ## 6 **Other expenditure** |General administrative costs
7
**Net expenditure before transfers**
This is stated after charging:
Independent Examiner's fee|**Total**
**2024**
**£**
103
103|**Total**
**2023**
**£**
103| |---|---|---| |||103| |||**2024**
**£**
1,200| ## 8 **Trustee remuneration and expenses** None of the trustees have been paid any remuneration in the current or prior periods. None of the trustees have been paid any expenses in the current or prior periods. Page 10 **THE F W TRUST LTD NOTES TO THE ACCOUNTS** ## 9 **Investments** |**Cost or revaluation**
At 1 July 2023
Additions
At 30 June 2024
**Net book values**
At 30 June 2024
At 30 June 2023
**Investment in Subsidiaries**|**Investment in**
**Subsidiaries**
**£**
200
-| |---|---| ||200| ||200| ||200| ||| The company has the following subsidiary undertakings: ||||**Capital and**|| |---|---|---|---|---| ||**Country of**||**reserves at**|**Profit/(loss)**| ||**incorporation**|**% age of**|**end of the**|**for the**| |**Name of company**|**(if not UK)**|**shares held**|**relevant year**|**relevant year**| ||||**£**|**£**| |Brock House Investments Limited||100|-|-| |Brock House Estates Limited||100|-|-| Page 11 **THE F W TRUST LTD NOTES TO THE ACCOUNTS** |10 **Debtors**
Amounts owed by group undertakings
11 **Creditors:**
amounts falling due within one year
Other creditors
12 **Movement in funds**
**Unrestricted funds:**
**General funds**
**Total funds**
13 **Analysis of net assets between funds**
Fixed assets
Investments
Net current assets||**2024**
**£**
1,871,537
1,871,537
**2024**
**£**
6,000
6,000|**2023**
**£**
1,958,307| |---|---|---|---| ||||1,958,307| ||||**2023**
**£**
6,000| ||||6,000| ||||1,866,788| ||||| ||||1,866,788| ||||**Total**
**£**
-
200
1,866,588| ||||1,866,788| ## 14 **Related party disclosures** Other than any mentioned above there are no related party transactions which require disclosure. Page 12