CHARITY REGISTRATION NUMBER: 1140675 The Elstree Shteibel Trust Unaudited Financial Statements 31 December 2024 The Elstree Shteibel Trust Financial Statements Year ended 31 December 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Stalement of financial position Notes to the financial statements The Elstree Shteibel Trust Trustees, Annual Report Year ended 31 December 2024 The trustees present their report and the unaudited financial statements ol the charity for the year ended 31 December 2024. Reference and administrative details Registered charity name The Elstree Shleibel Trust Charity registration number 1140675 Principal office POBox33911 London NW9 7ZX The trustees Mr M Tajlelbaum Mrs S Tajlelbaum Independent examiner P P Smulovilch Hallswelle House 1 Hallswelle Road London England NW11 ODH Structure, governance and management The Elstree Shteibel Trust is registered as a charity with the Charity Commission and was established on 03 March 2011. The Governors have considered the guidance published by the Charity Commission and believe that the charity in carrwng out its objectives, lully complies with these requirements. Each year the Governors review the objectives and activities ol the charity to ensure that they continue lo reflect these aims. In carrying out this review the Governors have considered the Charity Commission's general guidance on public benefit and in particular ils supplementary public guidance on the advancement of religion for the public benefit. The appointment and recruitment of new Governors is as laid out in the Trust Deed. New Governors would be trained as deemed appropriate. The charills Trust Deed authorises the Governors to make and hold inveslmenls. The Elstree Shteibel Trust Trustees, Annual Report (¢ontinuedJ Year ended 31 December 2024 Structure, governance and management {conlinu8d) The charity is managed by trustees who are responsible for setting the strategic direction of the organisalion and lor establishing policy. Public benelit The trLJStees have considered the guidance published by the Charity Commission and believe that the charity in carrying out its objectives, lully complies with these requirements. In particular the provision ol funding lor education in accordance with the principles ol traditional Judaism and the support ol associated communal charitable institutions such as gynagogueg and homes lor the elderly and infirm automatically gives rise lo a public benefit. Each year the governors review the objectives and activities ol the charity lo ensure that they continue lo rellecl these aims. In carrwng out this review the governors have considered the Charity Commission's general guidance on on public benefit and in particular ils supplementary public guidance on the advancement ol religion lor the public benefit Objectives and activities The principal objectives ol the charity throughout the year have been 11 The advancement ol the orthodox jewish religion. 21 The relief ol poverty and sickness., 31 The advancement ol orthodox jewish religious education., 41 Such other purposes as are charitable according to English Law. Achievements and perlormance The charity is organised so that the governors meet regularly lo manage ils affairs.There are no paid employees and all adminislralion work is carried out on a voluntary basis by the governors. Rlsk Management The Governors have assessed the major risks to which the charity is exposed and are satisfied that systems are in place lo mitigate such risks. The Iruslees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place lo mitigate exposure to the major risks. A reduction in donor base could cause cash flow issues,. any delayed receipt of pledged donations income could also potentially cause cash flow issues. The major risks lacing the charity are reviewed regularly al management meetings. Regular reviews ol cash flow projèctions and budget forecasts are also undertaken. as well as a continual drive to reduce expenditure and negotiate better terms and rates. Non-tinan¢ial perlormance During the year to 31 December 2023 continued lo maintain its weekly services for ils members including daily classes, services lor all age groups. The trustee believe that these were a big success and anlicipale holding similar events in the coming year. The Elstree Shteibel Trust Trustees, Annual Report (¢ontinuedJ Year ended 31 December 2024 Financial review During the year, the charity's funds have been applied in furtherance ol ils objectives and the day lo day running of the ¢harity. In the year to 31 December 2024, incoming resources amounted to £346,521 12023.. £431,186) and resources expended amounted lo £369,99612023.. £428,997). Al 31 December 2024, the charity had a total unrestricted fund surplus of £1.092. There have been no changes in the accounting policies ol the charity during the year. Reserves policy The Iruslees have reviewed the charity's needs for reseNes in line with the guidance issued by the Charity Commission and have concluded that the general surplus amounting to £1,092 is sullicienl lo achieve ils objectives. Plans for futu￿ periods The Trustees intend to continue performing at similar levels to current year which has been most salisfaclory. Subslanlial donations will continue to be paid lo various inslilulions. The trustees, annual report was approved on 30 October 2025 and signed on behalf ol the board ol trustees by= Mr M Tajlelbaum Trustee The Elstree Shteibel Trust Independenl Examiner's Report to the Truslees of The Elstree Shleibel Trust Year ended 31 December 2024 report to the trustees on my examination of the financial statements of The Elstree Shteibel Trust I'lhe charily'l lor the year ended 31 December 2024. Responsibilities and basis of report As the Iruslees ol the charity you are responsible for the preparation of the financial statements in a¢¢ordan¢e with the requirements of the Gharities Act 2011 I'the Act'l. I report in respect of my examination ol the charity's financial gtalemenls carried out under Section 145 ol the 2011 Ael and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner musl be a member ol a body listed in section 145 01 the 2011 Act. I confirm that l am qLJalified lo undertake the examination because l am a member ol the Institute ol Chartered AccoLJnlanls in England and Wales IICAEWI. which is one ol the listed bodies. In connection with my examination, no maller has come lo my attention- 111 which gives me reasonable cause lo believe that in any material respect the requirements- lo keep accounting records in accordance with section 130 of the Charities Act 2011, and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 130 of the 2011 Act and with the methods and principles of the Slalement ol Recommended Practice.. Accounting and Reporting by Charities have not been mel, or121 lo which, in my opinion, allenlion should be drawn in order lo enable a proper understanding ol the accounts lo be reached. P P Smulovitch Independent Examiner Hallswelle House 1 Hallswelle Road London England NW11 ODH 30 October 2025 The Elstree Shteibel Trust Stalement ol Financial Aclivilies Year ended 31 December 2024 2024 Unrestricted funds Total tunds Total funds 2023 Note Income and endowments Donations and legacies Total Income 346,521 346,521 346,521 431,186 346,521 431,186 Expenditure Expenditure on charitable activities Total expendlture 369,997 369,997 369,997 428,997 369,997 428,997 Net lexpenditure)lincome and net movement in lunds 123,4761 {23,4761 2,189 Reconciliation of funds Total funds brought lO￿ard Total funds carried forward 24,568 24.568 22,378 1,092 1.092 24,567 The slalemenl ol financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The not9$ on pag9$ 7 to 12 form part of the$0 flnan¢lo1 $latements. The Elstree Shteibel Trust Statement of Financial Posilion 31 December 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 10 1,538 5,354 6,892 20,033 10,184 30,217 Creditors: amounts falling due within one year Net current assets 11 5,800 5,650 1,092 1,092 1,092 24,567 Total assets less current Ilabllltles 24,567 Net assets 24,567 Funds of the charity Unreslrieled funds 1,092 1,092 24,567 Total charity funds 12 24,567 These financial statements were approved by the board ol trustees and authorised lor issue on 30 October 2025. and are signed on behalf of the board by.. Mr M Tajlelbaum Trustee The not9$ on pag9$ 7 to 12 form part of the$0 flnan¢lo1 $latements. The Elstree Shteibel Trust Noles lo the Financial Slatemenls Year ended 31 December 2024 General information The charity is a public benefit enttty and a registered charity in England and Wales and is unincorporated. The address ol the principal office is PO Box 33911, London, NW9 7ZX, United Kingdom. Statement of compliance These linaneial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic ol Ireland,, the Statement ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at lair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the enlily. Going concern There are no material uncertainties about the charills ability lo continue. Judgements and key sources of estlmatlon uncertalnty The preparation ol the financial statements requires management lo make judgements, eslimales and assumptions that affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other factors, including expectations ol lulure events that are believed to be reasonable under the circumstances. Fund accounting Unreslricled funds are available lor use at the discretion of the trustees lo further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the Iruslees lor parti¢ular future proje¢l or commitment. Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. The Elstree Shteibel Trust Noles lo the Financial Slatemenls {¢onlynued) Year ended 31 December 2024 Accounting policies (continued) Incoming resources All incoming resour¢es are in¢luded in Ihe statement ol financial activities when entitlement has passed to the charity- it is probable that the economic benèfits associated with the transaction will flow lo the charity and the amount Can be reliably measured. The following spe¢ific poli¢ies are applied lo particular categories ol in¢ome'. income from donations or grants is recognised when there is evidence of enlitlemenl to the gift, receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and enlillemenl is established. income from donated goods is measured al the lair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost lo the donor or the eslimaled resale value. Donated facilities and services are recognised in the accounts when received il the value can be reliably measured. No amounts are included lor the contribution ol general volunteers. income from contracts for the supply ol services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement lor it lo be spent on a particular purpose and returned il unspent, in which case il may be regarded as reslricled. Resources expended Expenditure is re¢ognised on an accruals basis as a liability is in¢urred. Expenditure includes any VAT which cannot be lully recovered, and is Classified under headings ol the slalement of finan¢ial a¢livilies lo which it relales.. expenditure on raising funds includes the costs of all fundraising acb'vilies, events, non- charitable trading activities. and the sale ol donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims lor the benefit ol ils beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned lo charitable activities. other expenditure includes all expenditure that is neither related to raising funds lor the charity nor part of ils expenditure on charitable aclivilies. All costs are allocated lo expenditure categories reflecting the use ol the resource. Direct costs allributable lo a single activity are allocated directly lo that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently slated at cost less any aecumulaled depreciation and impairment losses. Any tangible assets carried al revalued amounts are recorded al the fair value al the dale ol revaluation less any subsequent aecumulaled depreciation and subsequent accumulated impairment losses. The Elstree Shteibel Trust Noles lo the Financial Slatemenls {¢onlynued) Year ended 31 December 2024 Accounting policies (continued) Tangible assets (continu8d) An increase in Ihe ¢arrying amounl of an asset as a result of a revaluation, is recognised in other re¢ognisèd gains and losses, unless il reverses a charge lor impairment that has previously been re¢ognised as expenditure within the statement ol financial aclivilies. A decrease in the carrying amount of an asset as a result ol revaluation, is recognised in other recognised gains and losses. ex¢epl to which it offsets any prèvious revaluation gain, in which case the loss is shown within other re¢ognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as lo write oll the cost or valLJalion ol an asset, less ils residual value, over the useful economic life ol that asset as follows.. Fixtures and Fittings SILJdy and prayer books 250/0 Straight line 250/0 Straight line Impairment of fixed assets A review lor indicators of impairment is carried out al each reporting dale. with the recoverable amount being eslimaled where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed lor Possible reversal al each reporting dale. For the purposes of impairment testing, when il is not possible lo estimate the recoverable amount ol an individual asset, an estimate is made ol the recoverable amount ol the cash- generating unil lo which the asset belongs. The cash-generaling unil is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment lesling ol goodwill, the goodwill acquired in a business combination is, from the acquisition dale, allocated lo each ol the cash-generaling units that are expected lo benefit from the synergies ol the combination, irrespective ol whether other assets or liabilities of the charity are assigned to those units. Flnanclal Instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions ol the inslrumenl. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequently measured al amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured al fair value with changes in lair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. The Elstree Shteibel Trust Noles lo the Financial Slatemenls {¢onlynued) Year ended 31 December 2024 Accounting policies (continued) Financial instruments (continu8d) Other linan¢ial inslrumenls, including derivatives, are initially recognised al lair value, unless payment lor an asset is deferred beyond normal business terms or financed at a rale ol interest that is not a market rate, in which ¢ase the asset is measured al the present value ol the future payments discounted at a market rale ol interest lor a similar debt inslrumenl. Other financial instruments are subsequently measured at lair value, with any changes recognised in the statement of financial aclivilies, with the exception ol hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence ol impairment at the end of each reporting date. If there is objective evidence ol impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless ol significance, and other financial assets that are individually significant, these are assessed individually lor impairment. Other financial assets are either assessed individually or grouped on the basis ol similar credit risk characteristics. Any reversals ol impairment are recognised immediately. lo the extent that the reversal does not result in a carrying amount ol the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Donations and legacies Unreslricled Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Donations Donations 346,521 346,521 431,186 431,186 Expendlture on charltable actlvltles by fund type Unrestricted Total Funds Unrestricted Tolal Funds Funds 2024 Funds 2023 Kollel scholarships, post prayer social receptions and associated expenditure Support Costs 320,790 49,207 320,790 49,207 369,997 335,425 93,572 335,425 93,572 369,997 428,997 428,997 10- The Elstree Shteibel Trust Noles lo the Financial Slatemenls {¢onlynued) Year ended 31 December 2024 Expenditure on charitable activities by activity type Aclivtties undertaken directly Support costs Total funds 2024 Total fund 2023 Kollel scholarships, post prayer social receptions and associated expenditure Administrative expenses Governance costs 320,790 44,708 1,598 2,901 365,498 1,598 2,901 369,997 425,027 1,070 2,900 320,790 49,207 428,997 Independent examination fees 2024 2023 Fees payable to the independent examiner for.. Independent examination ol the financial statements 2,900 5,500 Trustee remuneratlon and expen$e$ No remuneration or other benefits from employment with the charity or a related entity were received by the Iruslees. Tanglble flxed assets Fixtures and Study & fittings prayer books Total Cost At 1 January 2024 and 31 December 2024 Depreclatlon At 1 January 2024 and 31 December 2024 Carrylng amount At 31 December 2024 30,029 52,922 82,951 30,029 52,922 82,951 Ai 31 December 2023 10. Debtors 2024 2023 Other debtors 1,538 20,033 11. Credltors: amounts falllng due wlthln one year 2024 2023 Accruals and deferred income 5,800 5,650 11 The Elstree Shteibel Trust Noles lo the Financial Slatemenls {¢onlynued) Year ended 31 December 2024 12. Analysis of charitable funds Unrestricted funds Al 1 January 202 At 31 December 2024 Income Expenditure General funds 24,568 346,521 1369,9971 1,092 Al 1 January 202 Al 31 December 2023 Income Expenditure General ILJnds 22,378 431,186 1428,9971 24,567 13. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net as$et$ 6,892 15,8001 1,092 6,892 15,8001 1,092 Unrestricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 30,217 15,6501 24,567 30,217 15,6501 24,567 12-