Charity number: 1132685 THE ROSENFELD CHARITABLE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE ROSENFELD CHARITABLE TRUST CONTENTS Page Reference and Administrative Details of the Charity, its Trustees and Advisers Trustees. Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8-16
THE ROSENFELD CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARI, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees M Rosenfeld. Chair G Burton Charity registered number 1132685 Principal office 11 Hatton Garden London EC1N 8AH Accountants BKL Audit LLP 35 Ballards Lane London N3 1XW Page 1
THE ROSENFELD CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 01 April 2024 to 31 March 2025. Objectives and activities a. Policies and objectives The objectives of the chartty as per it's goveming document are; The Trustees shall hold the trust fund and the income thereof in trust to apply the same both as to capital and income for the charitable purposes of such charitable bodies organisation and institutions or such other charitable purposes or objects in such proportions and manners as the Trustees shall in their absolute discretion from time to time think fit. 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}'. b. Activities undertaken to achieve objectives The charity has given grants of £59,700 (2024: £69,274) to worthy organisations as decided by the Trustees. c. Main activities undertaken to further the Charity's purposes for the public benefit The charity undertakes to give grants to worthy charities in order to fijrther the charity's purposes for public benefit. Achievements and performance a. Main achievements of the Charity During the year, the charity donated £59.700 (2024: £69,274) to other charities as decided by the Trustees. Financial review . Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existen for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Should the charity be low on funds, the Trustees will reduce the amount of grants given until further funding can be acquired. b. Reserves policy It is policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to beeen three and six 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 trust's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. Page 2
THE ROSENFELD CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 c. Review of the year During the year the charity received income of £46,583 (2024-. £1,055) consisting of £45,500 (2024= £Nill from donations and legacies and £1,083 (2024: £1,055) from investments. Expenditure for the year was £60,149 (2024.. £71,179) consisting of £59,700 (2024.. £69,274) of grants and £449 (2024.. £1,905) of support costs. Investment revaluations for the year was a loss of £1,381 (2024.. loss of £4,770). Net movement in funds for the year was a deficit of £13,566 (2024 deficit of: £74,894). Funds at the year end totalled £19,053 {2024'. £34,000) comprised entirely of unrestricted funds. Structure, governance and management a. Constitution The Rosenfeld Charitable Trust is an unincorporated charity constituted under Trust deed dated 1 st October 1961 with charity number 1132685. b. Methods of appointment or election of Trustees New Trustees are appointed by selection by the current Trustees of the charity by a simple majority vote. New Trustees are selected to add their expertise or knowledge to the board of Trustees. Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources 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 consistentty., 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 102) 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 Charity will continue in business. Page 3
THE ROSENFELD CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of Trustees. responsibilities (CONTINUED) The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity 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 and signed on their behalf by.. G Burton Date: 1610612025 Page 4
THE ROSENFELD CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Independent Examinerfs Report to the Trustees of The Rosenfeld Charitable Trust I'the Charity.) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025. Responsibilities and Basis of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 ('the 2011 Act,). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect= accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or the accounts do not accord with those records,. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fai¢ view which is not a matter considered as part of an independent examination. 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. This report is made solely to the Charity's Trustees, as a body, in accordan with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. P6uswoke Dated: 1610612025 Edward Passmore FCA BKL Audit LLP 35 Ballards Lane London N3 1XW Page 5
THE ROSENFELD CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations Investments 45,500 1,083 45,500 1,083 1,055 Total income 46,583 46,583 1,055 Expenditure on: Charitable activities 60,149 60,149 71,179 Total expenditure 60,149 60,149 71,179 Net expenditure before net losses on investments Net losses on investments (13,566 (1,3811 (13,566) (70, 124) (4, 770) Net movement in funds (14,947) {14,947) (74, 894) Reconciliation of funds: Total funds brought fomard Net movement in funds 34,000 (14,947 34,000 (14,947) 108, 894 (74, 894) Total funds carried forward 19,053 19,053 34, 000 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 8 to 16 form part of these financial statements. Page 6
THE ROSENFELD CHARITABLE TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed assets Investments 10 18,724 20,105 18,724 20,105 Current assets Cash at bank and in hand 1,529 15,097 1.529 15,097 Creditors.. amounts falling due within one year (1.200) (1, 202) Net current assets 329 13,895 Total net assets 19,053 34,000 Charity funds Unrestricted funds 12 19,053 34,000 Total funds 19,053 34,000 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. G Burton Date: 1610612025 The notes on pages 8 to 16 form part of these financial statements. Page 7
THE ROSENFELD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General information The Rosenfeld Charitable Trust is a unincorporated trust established by trust deed on 1st October 1961 in England & Wales with charity registration number 1132685. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordan with the Charities SORP (FRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practi 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) and the Charities Act 2011. The Rosenfeld Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initialty recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 2.3 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 diredy 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 beeen 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 charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. Page 8
THE ROSENFELD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) 2A Government grants Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Financial Activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of Financial Activities as the related expenditure is incurred. 2.5 Investments Fixed asset investments are a fomi of financial instrument and are initially recognised at their transaction cost and sUbseqUenY 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. 2.6 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.7 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as adVand payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability- The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.8 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exptIOn of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.9 Fund accounting General frjnds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Page 9
THE ROSENFELD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from donations and legacies Unrestricted funds 2025 Total funds 2025 Total funds 2024 Gifts and Donations 45,500 45.500 Investment income Unrestricted funds 2025 Total funds 2025 Dividend income 1,083 1,083 Unrestricted funds 2024 Total funds 2024 Dividend income 1,055 1,055 Page10
THE ROSENFELD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Anatysis of grants Grants to Institutions Total funds 2025 2025 Supporting good causes 59.700 59, 700 Grants to Institutions Totsl funds 2024 2024 Supporting good causes 69,274 69,274 Page11
THE ROSENFELD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Anatysis of grants - continued The Charity has made the following grants to institutions during the year.. 2025 2024 Name of institution Gesher School 15,000 900 20,000 T & S Trust Fund Jewish Care SEED 15,000 7.000 15,000 6, 000 5,000 600 Chai Lifeline Cancer Care The Chicken Soup Shelter Jewish Blind and Physically Handicapped Grief Encounter Project The Chicken Soup Shelter Holocaust Educational Trust 500 10.000 600 5.000 5,000 974 New West End Synagogue The Children's Trust 1,500 5,000 200 JRoots Ltd Torah Temimah TrusULolev Charitable Trust 200 Community Security Trusts ORTYUK 3,000 2.500 2,500 2,500 5,000 Friends of Esra in Israel 59.700 69,274 Anatysis of expenditure on charitsble activities Summary by fund type Unrestricted funds 2025 Total 2025 Supporting good causes 60,149 60,149 Page 12
THE ROSENFELD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Anatysis of expenditure on charitable activities (continued) Summary by fund type (continued) Unrestricted funds 2024 Total 2024 Supporting good causes 71,tT9 71,tT9 Anatysis of expenditure by activities Grant funding of activities 2025 Support costs 2025 Total funds 2025 Supporting good causes 59,700 449 60,149 Grant funding of activities 2024 Support costs 2024 Total funds 2024 Supporting good causes 69,274 1,905 71,179 Anatysis of support costs Supporting good causes 2025 Total funds 2025 Accountancy fees 449 449 Page13
THE ROSENFELD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Anatysis of expenditure by activities (continued) Anatysis of support costs (continued) Supporting good causes 2024 Total funds 2024 Accountancy fees 1,905 1,905 Independent examiner's remuneration The independent examinerfs remuneration amounts to an independent examiner fee of £1,200 (2024 Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL). 10. Fixed asset investments Listed investments Cost or valuation At 1 April 2024 Revaluations 20,105 (1,381) At 31 March 2025 18,724 Net book value At 31 March 2025 18,724 At 31 March 2024 20,105 Page 14
THE ROSENFELD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Creditors: Amounts falling due within one year 2025 2024 Accruals and deferred income 1,200 1,202 12. Statement of funds Statement of funds - current year Balance at 31 March 2025 Balance at 1 April 2024 Gainsl (Losses) Income Expenditure Unrestricted funds 34.000 46,583 General funds - all funds (60.149) (1,381 19,053 ststement of funds - prior year Balance at 31 March 2024 Balance at l Apnl 2023 Gains/ (Losses) Income Expenditure Unrestricted funds General Funds 1 108,894 1.055 (71, 179) (4, 770) 34,000 13. Analysis of net assets between funds Anatysis of net assets between funds - current year Unrestricted funds 2025 Total funds 2025 Fixed asset investments Current assets 18,724 1,529 (1,200) 18,724 1.529 11,200) Creditors due within one year Total 19,053 19,053 Page15
THE ROSENFELD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Analysis of net assets between funds (continued) Anatysis of net assets between funds - prior year Unrestricted funds 2024 Total funds 2024 Fixed asset investments 20, 105 15,097 (1,202) 20, 105 15,097 (1,202) Current assets Creditors due within one year Total 34, 000 34, 000 14. Related party transactions Donations totalling £45,500 were reIVed from trustees (2024.. £Nil). Page 16