## **BRITEFIELD TRUST**
CHARITY REGISTRATION NUMBER 1133072
TRUSTEES’ REPORT
- and -
UNAUDITED ACCOUNTS
FOR THE YEAR FROM
1 JANUARY 2024
TO
31 DECEMBER 2024
## **BRITEFIELD TRUST**
_Charity Registration Number 1133072_
|Contents|Page|
|---|---|
|Reference and Administrative Details|1|
|Trustees’ Annual Report|2 - 4|
|Independent Examiner’s Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Unaudited Accounts|8 - 13|
Page 1
## **BRITEFIELD TRUST**
_Charity Registration Number 1133072_
## REFERENCE AND ADMINISTRATIVE DETAILS
## _**TRUSTEES**_
Mrs. B. Grussgott R. Grussgott
## _**CHARITY’S PRINCIPAL ADDRESS AND CONTACT**_
Mr. R. Grussgott Flat 7 Craven Park Court Craven Park Road London N15 6AA
## _**DETAILS OF FORMATION**_
The Charity was created by Declaration of Trust on 16 November 2009 and registered with the Charity Commission on 2 December 2009 under Charity Registration Number 1133072
## _**BANKERS**_
Barclays Bank plc
## _**INDEPENDENT EXAMINER**_
Stephen Sacks FCA For Shears & Partners Limited Chartered Accountants Flat 7 Craven Park Court Craven Park Road London N15 6AA
Page 2
## **BRITEFIELD TRUST**
_Charity Registration Number 1133072_
## TRUSTEES’ ANNUAL REPORT
The Trustees present their Annual Report along with the Unaudited Accounts (“the Accounts”) of Britefield Trust (“the Charity”) for the year ended 31 December 2024. The Accounts have been prepared in accordance with the Accounting Policies set out on Pages 8 and 9 and comply with the Charity’s Governing Document, the Charities Act 2011 and the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102).
## _**OBJECTIVES AND ACTIVITIES**_
## _**Summary of the Purposes of the Charity**_
The advancement of the Orthodox Jewish faith, the advancement of Orthodox Jewish Education to relieve poverty, sickness and infirmity amongst members of the Jewish faith and for such other purposes as are for the Public Benefit and that are Charitable in accordance with English Law.
## _**Grant Making Policy**_
The Charity’s policy is to act according to the Declaration of Trust, which enables grants and donations to be made from both income and capital. All applications to the Charity for grants, donations or loans are considered carefully by the Trustees at regular meetings. On most occasions, if the Trustees feel that the application meets their approval in principle, they will meet applicants face to face and discuss with them the most effective way of providing assistance. The Trustees usually then have a further meeting before making a decision as to whether assistance should be granted, and if so, in what form and to what level.
The Trustees find that this is the most effective way of aiding applicants as it allows them flexibility in terms of deciding whether they will assist by way of a donation or an interest free loan and also ensures that each application is considered fairly.
The Charity had made loans that were outstanding at the year end amounting to £53k _(2023: £43k)_ during the year under review.
## _**Public Benefit**_
The Trustees of the Charity have continued to comply with their duty to have due regard to the guidance on public benefit as published by the Charity Commission when exercising their powers or duties.
## _**ACHIEVEMENTS AND PERFORMANCE**_
The Trustees intend to support religious organisations, institutions of higher and further education, and institutions caring for the poor and sick.
The Charity received Gross Rental income of some £117k _(2023: £112k)_ , which represents a gross yield on current market value in excess of 8.2% _(2023: 7.92%)_ per annum, significantly in excess of that being earned on Bank Deposits.
The Trustees are delighted to announce that the Charity has been able to make donations of some £287.4k _(2023: £190.5k)_ to good causes during the year. The major recipients are detailed in Note 7 to the Accounts.
Page 3
## **BRITEFIELD TRUST**
_Charity Registration Number 1133072_
TRUSTEES’ ANNUAL REPORT _(Continued)_
## _**FINANCIAL REVIEW**_
## _**Review of the Charity’s Financial Position**_
Although the Charity’s Incoming Resources increased/(decreased) by some £5k ( _2023: increase/(decrease) £(169k))_ the Trustees (increased)/decreased its Resources Expended by some £102k ( _2023: £89k_ ) and hence there was a movement in the surplus/(deficit) for the year of some £(187k) ( _2023: £80k_ ). The Charity’s Funds therefore increased/(decreased) by the same amount ( _2023: decreased by the same amount_ ).
## _**Reserves Policy**_
The Charity held Distributable Reserves of £499k _(2023: £686k)_ and Non-Distributable Reserves of £541k ( _2023: £541k_ ) at the year end. The Non-Distributable Reserves arose following Revaluations of the Charity’s Freehold Investment Properties. These revaluations have not been released and will only be realised on the disposal of the properties concerned.
## _**Going Concern**_
The Trustees have prepared the Accounts on a going concern basis because in their opinion it is appropriate to presume that the Charity will continue in operation.
## _**Investments Policy**_
The Charity invests in Freehold Commercial Property which, based on cost, yields significantly in excess of that achievable from its Bankers.
The Charity also invests funds in low risk interest bearing Business Reserve account with Barclays Bank PLC, the Charity’s bankers. The Trustees regularly monitor High Street interest rates to ensure that the Charity is getting the best return on its money.
## _**Risk Management**_
The Trustees undertake a review of the major risks to which the Charity is exposed at their quarterly Trustee meetings, and systems designed to mitigate those risks are considered on an ongoing basis.
The main risk that has been identified by the Trustees is that of misappropriation of funds. This has been mitigated by ensuring that all outgoing cheques require the signature of two of the Trustees. The strict grant making policies (see above) also reduce the risk of such misappropriation.
Page 4
## **BRITEFIELD TRUST**
_Charity Registration Number 1133072_
TRUSTEES’ ANNUAL REPORT _(Continued)_
## _**STRUCTURE, GOVERNANCE AND MANAGEMENT**_
Britefield Trust is constituted under a Declaration of Trust dated 16 November 2009 and was registered with the Charity Commission on 2 December 2009 under Charity Registration Number 1133072.
The Trustees in office in the year were as follows:
Mrs. B. Grussgott R. Grussgott
The statutory power of appointing new Trustees or a new Trustee hereof shall be exercisable by the persons who are, for the time being, the Trustees hereof.
There are no policies adopted by the Trustees for the induction and training of Charity Trustees. Due to the nature of the Charity’s activities, most of the day to day work is learned through practical experience.
## _**REFERENCE AND ADMINISTRATIVE DETAILS**_
Reference and Administrative Details are set out on Page 1 form part of this report.
The Trustees declare that they have approved the Trustees Report above.
Signed on behalf of the Trustees:
___________________
**R. GRUSSGOTT** Trustee
Date: 27 October 2025
Page 5
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF **BRITEFIELD TRUST (“** the Charity **”)**
_Charity Registration Number 1133072_
FOR THE YEAR 1 JANUARY 2024 TO 31 DECEMBER 2024
I report to the Trustees on my examination of the Unaudited Accounts (“the Accounts”) of Britefield Trust (“the Charity”) for the year ended 31 December 2024.
## _**Responsibilities and Basis of Report**_
As the Charity’s Trustees, you are responsible for the preparation of the Accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”).
I report in respect of my examination of the Accounts of the Charity carried out under Section 145 of the 2011 Act and in carrying out my examination. I have followed all 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 material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material aspect:
- the accounting records were not kept in accordance with Section 130 of the 2011 Act; or
- the Accounts did not accord with the accounting records; or
- the Accounts did 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 fair’ view which is not a matter considered as part of an independent examination.
Your attention is to drawn to the fact that the Charity has prepared the Accounts in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn. We understand that this has been done in order for the Accounts to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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.
Stephen Sacks FCA
## For **SHEARS & PARTNERS LIMITED**
_Chartered Accountants_
_Flat 7 Craven Park Court Craven Park Road London N15 6AA_
_Date: 27 October 2025_
Page 6
## **BRITEFIELD TRUST**
_Charity Registration Number 1133072_
## STATEMENT OF FINANCIAL ACTIVITIES
FROM 1 JANUARY 2024 TO 31 DECEMBER 2024
||Note|2024|_2023_|
|---|---|---|---|
|||£|_£_|
|**_INCOMING RESOURCES_**||||
|**_Income and Endowments from:_**||||
|Donations|(4)|-|_-_|
|Investments|(5)|117,000|_112,417_|
|Other Income|(5)|-|_-_|
|**_Total Income_**|(12)|117,000|_112,417_|
|||______|________|
|**_RESOURCES EXPENDED_**||||
|**_Expenditure on:_**||||
|**_Raising Funds_**|(6)|(12,862)|_(9,038)_|
|**_Charitable Activities_**|(7)|(287,400)|_(190,500)_|
|**_Other_**|(8)|(3,850)|_(2,750)_|
|**_Total Expenditure_**|(12)|(304,112)|_(202,288)_|
|||______|________|
|||(187,112)|_(89,871)_|
|**_Other Recognised Gains/(Losses)_**||||
|Net Gains/(Losses) on Investments|(12)|-|_-_|
|**_NET INCOME/(EXPENDITURE)_**||(187,112)|_(89,871)_|
|**_RECONCILIATION OF FUNDS_**||||
|**_Total Funds Brought Forward_**|(12)|1,227,555|_1,317,426_|
|**_Total Funds Carried Forward_**|(12)|£1,040,443|_£1,227,555_|
|||=======|_======_|
The Notes on Pages 8 to 13 form part of the Unaudited Accounts.
Page 7
## **BRITEFIELD TRUST**
_Charity Registration Number 1133072_
## BALANCE SHEET
## AS AT 31 DECEMBER 2024
||Note|2024|_2023_|
|---|---|---|---|
|||£|_£_|
|**_FIXED ASSETS_**||||
|Investments|(9)|1,420,000|_1,420,000_|
|||________|__________|
|**_CURRENT ASSETS_**||||
|Debtors|(10)|60,482|_56,134_|
|Cash at Bank and in Hand||7,065|_25,467_|
|||67,547|_81,601_|
|**_CREDITORS:_**Amounts falling due within one||||
|year|(11)|(447,104)|_(274,046)_|
|**_NET CURRENT ASSETS/(LIABILITIES)_**||(379,557)|_(192,445)_|
|||________|__________|
|**_NET ASSETS_**||£1,040,443|_£1,227,555_|
|||=======|_======_|
|Unrestricted Funds|(12)|1,040,443|_1,227,555_|
|**_TOTAL FUNDS_**|(12)|£1,040,443|_£1,227,555_|
|||=======|_======_|
The Accounts were approved on 27 October 2025 and signed on behalf of all of the Trustees.
______________________________ **R. GRUSSGOTT** Trustee
The Notes on Pages 8 to 13 form part of the Unaudited Accounts.
Page 8
## **BRITEFIELD TRUST**
_Charity Registration Number 1133072_
## NOTES TO THE UNAUDITED ACCOUNTS – 31 DECEMBER 2024
## 1. _**STATUTORY INFORMATION**_
Britefield Trust (“the Charity”) is a Charitable Trust, domiciled in England and Wales, Charity Registration Number 1133072. The Charity’s Contact and Address are R. Grussgott, Flat 7 Craven Park Court, Craven Park Road, London, N15 6AA.
## 2. _**COMPLIANCE WITH ACCOUNTING STANDARDS**_
The Unaudited Accounts (“the Accounts”) have been prepared in accordance with the provisions of FRS 102 SORP and the Charities SORP Update Bulletin 2 issued on 5 October 2018.
The Accounts have been prepared in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice. the Accounts have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
## 3. _**ACCOUNTING POLICIES**_
## a. _**Basis of Accounting**_
The Accounts have been prepared in accordance with the historical cost convention as amended by the revaluation of certain Fixed Assets and in accordance with:
- The Charities Act 2011 (“the 2011 Act”)
- The Financial Reporting Standard applicable in the UK and Ireland FRS 102 (“FRS 102”)
- The Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK FRS 102 issued on 16 July 2014 the FRS 102 SORP (“the SORP”)
- The Charities SORP (FRS 102) Update Bulletin 2 issued on 5 October 2018 (“the Charities SORP FRS 102”)
- The Charities Act 2022 (“the 2022 Act”)
The Charity constitutes a public benefit entity as defined by FRS 102.
The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
## b. _**Incoming Resources - Donations**_
Voluntary Income comprises donations and gifts in kind which are accounted for in the Statement of Financial Activities (“the SOFA”) when the Charity becomes entitled to the donation and any conditions for receipt are met.
Page 9
## **BRITEFIELD TRUST**
_Charity Registration Number 1133072_
NOTES TO THE UNAUDITED ACCOUNTS – 31 DECEMBER 2024 ( _Continued)_
3. _**ACCOUNTING POLICIES** (Continued)_
- c. _**Incoming Resources - Investment Income**_
Comprises Rents Receivable and Interest Receivable on an accruals basis.
- d. _**Raising Funds**_
Comprise property management expenses and interest payable which are accounted for on an accruals basis.
- e. _**Charitable Activities**_
Expenditure on Charitable Activities represents Grants and Donations payable and are charged in the period in which payment of funds is conveyed to the recipient.
- f. _**Other - Governance Costs**_
Governance Costs include costs of the preparation and examination of the Accounts, include the cost of any legal advice to the Trustees on Governance and Constitutional matters.
- g. _**Liability Recognition**_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to the expenditure.
- h. _**Fund Accounting**_
- General Reserve
This represents funds that can be used in accordance with the objects of the Charity at the discretion of the Trustees.
Revaluation Reserve
The Revaluation Reserve arises on the revaluation of Investments in accordance with the requirements of the SORP and FRS 102. This Reserve can only be used by the Charity on transfer of the Revaluation to the General Reserve when the underlying assets are realised following their disposal.
- i. _**Fixed Assets**_
## _**Investments – Depreciation**_
No depreciation has been provided on Freehold Investment Properties in accordance with FRS 102.
## _**Investments – Valuation**_
Freehold Investment Properties are included in the Accounts at a valuation carried out by the Trustees in accordance with FRS 102.
Page 10
## **BRITEFIELD TRUST**
_Charity Registration Number 1133072_
NOTES TO THE UNAUDITED ACCOUNTS – 31 DECEMBER 2024 _(Continued)_
## _**ANALYSIS OF INCOMING RESOURCES**_
||**_Income and Endowments from:_**||||
|---|---|---|---|---|
|4.|**_DONATIONS_**||||
||||2024|_2023_|
||||£|_£_|
||Registered Charities||£ -|_£ -_|
||||==|_==_|
|5.|**_INVESTMENTS_**||||
||Interest Receivable||-|_-_|
||Other Income Receivable||-|_-_|
||Rents Receivable||117,000|_112,417_|
||||£117,000|_£112,417_|
||||======|_=====_|
|**_ANALYSIS OF RESOURCES EXPENDED_**|||||
|6.|**_RAISING FUNDS_**||||
||Bad Debts Written Off||-|_-_|
||Bank Charges||-|_-_|
||Insurance||5,542|_5,438_|
||Legal & Professional Fees||7,320|_3,600_|
||Repairs||-|_-_|
||||£12,862|_£9,038_|
||||=====|_====_|
|7.|**_CHARITABLE ACTIVITIES_**||||
||||Year Ended 31 December 2024||
||**Analysis of Grants/Donations**||||
||||_Grants to_|_Grants to_|
||||_Institutions_|_Individuals_|
||||£|£|
||Educational Institutions||25,800|_-_|
||General Charitable Purposes||58,600|_-_|
||Relief of Poverty||57,000|_-_|
||Religious Organisations||81,000|_-_|
||Welfare Institutions||65,000|_-_|
||||£287,400|_£ -_|
||||======|_==_|
||Grants to particular Institutions that are material in the context of Grants to Institutions were made to the following Institutions||||
||for the following purposes:||||
||||Total Number of|Total Amount of|
||Name of Institution|Purpose|Donations Paid|Donations Paid|
|||||£|
||Yesamach Levav Trust|Religious Organisations|4|30,000|
||Mifal Tzedoko V’Chesed Limited|Welfare Institutions|4|30,000|
||||8|60,000|
||Grants immaterial to total grants made to Institutions||42|227,400|
||||50|£287,400|
||||==|======|
Page 11
## **BRITEFIELD TRUST**
_Charity Registration Number 1133072_
## NOTES TO THE UNAUDITED ACCOUNTS – 31 DECEMBER 2024 _(Continued)_
|**_Analysis of Grants/Donations_**
_Educational Institutions_
_General Charitable Purposes_
_Relief of Poverty_
_Religious Organisations_
_Welfare Institutions_|_Year Ended 31 December 2023_|
|---|---|
||_Grants to_
_Institutions_
_Grants to_
_Individuals_
_£_
_£_
_96,000_
_-_
_17,500_
_-_
_12,000_
_-_
_30,000_
_-_
_35,000_
_-_
_£190,500_
_£ -_
_======_
_==_|
_Grants to particular Institutions that are material in the context of Grants to Institutions were made to the following Institutions for the following purposes:_
||||_Total Number of_|_Total Amount of_|
|---|---|---|---|---|
|_Name of Institution_||_Purpose_|_Donations Paid_|_Donations Paid_|
|||||_£_|
|_Gevurath Ari Torah Academy Trust_||_Education_|_2_|_30,000_|
|_Rise &_|_Shine_|_Education_|_2_|_20,000_|
|_Shir Chesed Beis_||_Welfare_|_2_|_20,000_|
||||_6_|_70,000_|
|_Grants_|_immaterial to total grants made to Institutions_||_28_|_120,500_|
||||_34_|_£190,500_|
||||_==_|_======_|
|8.|**_OTHER - GOVERNANCE COSTS_**||||
||||2024|_2023_|
||||£|_£_|
||Independent Examiner’s Fees||3,250|_2,750_|
||||£3,250|_£2,750_|
||||====|_====_|
||_Governance Costs include the following:_||||
||Other Fees not paid to the Independent Examiners||600|_-_|
||Fees paid for the Independent Examination of the Accounts excluding||||
||VAT||3,250|_2,750_|
||||£3,850|_£2,750_|
||||====|====|
There are no other fees, other than those stated above, payable to the Independent Examiner.
Page 12
## **BRITEFIELD TRUST**
_Charity Registration Number 1133072_
NOTES TO THE UNAUDITED ACCOUNTS - 31 DECEMBER 2024 _(Continued)_
## 9. _**INVESTMENTS**_
|9.|**_INVESTMENTS_**|||
|---|---|---|---|
|||Freehold Property||
||||£|
||**_Valuation and Net Book Value_**|||
||At 1 January 2024||1,420,000|
||Additions||-|
||Revaluation||-|
||At 31 December 2024|£1,420,000||
||||=======|
||Cost||878,678|
||Revaluation||541,322|
|||£1,420,000||
||||=======|
|10.|**_DEBTORS_**|||
|||2024|_2023_|
|||£|_£_|
||Trade Debtors|5,018|_12,760_|
||Other Debtors|53,374|_43,374_|
||Prepayments and Accrued Income|2,090|_-_|
|||£60,482|_£56,134_|
|||=====|_====_|
Other Debtors comprise Charitable loans made and still outstanding at the Charity’s year end.
|11.|**_CREDITORS:_** Amounts falling due within one year|||
|---|---|---|---|
|||2024|_2023_|
|||£|_£_|
||Trade Creditors|-|_3,300_|
||Other Creditors|410,188|_232,903_|
||Taxation and Social Security|5,749|_6,927_|
||Accruals and Deferred Income|31,167|_30,916_|
|||£447,104|_£274,046_|
|||======|_=====_|
Page 13
## **BRITEFIELD TRUST**
_Charity Registration Number 1133072_
NOTES TO THE UNAUDITED ACCOUNTS - 31 DECEMBER 2024 _(Continued)_
## 12. _**UNRESTRICTED FUNDS**_
|Total Funds at 1 January 2024
Income and Endowments
Expenditure
Other Recognised Gains/(Losses)
Reserves Transfer
Total Funds at 31 December 2024|Non-
Distributable
Revaluation
Reserve
£
541,322
-
-
-
-
£541,322
======|Distributable
General
Reserve
Total
£
£
686,233
1,227,555
117,000
117,000
(304,112)
(304,112)
-
-
-
-
£499,121
£1,040,443
======
=======|
|---|---|---|
## 13. _**PAYMENTS TO TRUSTEES**_
There were no expenses or remuneration paid to the Trustees in the Financial Year or the previous Financial Year.
## 14. _**EMPLOYEES**_
Other than the Trustees the Charity had no employees in either the current or the previous Accounting Year (see Note 6 above).
## 15. _**RELATED PARTY TRANSACTIONS**_
There were no Related Party Transactions during the year under review _(2023: None)._