COMPANY REGISTRATION NUMBER: 07936819 CHARrrY REGISTRATION NUMBER: 1147134 Suncroft Donations Trust Company Limited by Guarantee Financial Statements 28 February 2025 AR Chartered accountants & statutory auditor Hallswelle House 1 Hallswelle Road London England NW11 ODH
Suncroft Donations Trust Company Limited by Guarantee Flnancial Statements Year ended 28 February 2025 Page Trustees. annual report (incorporating the director's report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) Statement of financial posilion 10 Slatement of cash flows 11 Notes to Ihe financial stalements 12
Suncroft Donatlons Trust Company Limitsd by Guarantee Trustees, Annual Report {Incorporating the Dlrector's Report) Year ended 28 February 2025 The trustees, who a also the directors for the purposes of company law, present their report and the financial statements of Ihe charity for the year ended 28 February 2025. R•feronce and administrative detalls Roglslered charfty namo Suncroft Donatloris Trust Charily registratlon number C¢rnpany reglstration number 07936819 Prln¢ipal offl¢e and registered Hallswelle House offl 1 Hallswelle Road London NW11 ODH 1147134 Tho trustees Mr M Feldman Mr J Feldman Mr S Feldman Mrs D Feldman Auditor Harold Everett Wfeford LLP Chartered accountants & slatutory audltor Hallswelle House 1 Hallswelle Road London England NW11 ODH
Suncroft Donations Trust Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (¢onilnwdJ Year ended 28 February 2025 Structure. govemanco and managament Suncroft Donatrons Trust is a charlty company. It has no share capilal and Is limited by guarant88. The charity is organlsed so that the Governors meet regularly to manay its affairs. There are no paid employees and all administration work is caffied out on a voluntary basis by the Govemors. The Governors have considered Ihe guklance published by the Charity Commission and believe that the charty in carrying out its obJectSves, fully complies with Ihese requtrements. In partlcular the fostering of educ8tiDn and moral and religious Iraining In accordance wlth the doctrines and prlnciples of the Orthodox Jewish Faith and applying funds for the relief of poverty, sickrftss and Infirmty automatically gives rise to a public benefit. Each year the Governors review the objectives and 8ctivÉts of the charity to ensure Ihat they continue to reflect these aims. In carrylng out this review the Governors have considered the Charlty Commisslon's general guldance on publlc benefrt and in partlcular its supplementary public guldance on the advancement of religion for the publlc benefii. The appoinlment and recruitment of new Governors is lald out in the Charivs Memorandum and Artides of Association. New Govemors would be trained as deemed appropriale. The Charitys Memorandum arKI Articles of Association authorSses the Governors to make and hold Investmenls. Objgctives and a¢tivitie8 objects of the Charity are to fosler education and moral and religious tralning in accordance with doctrines and principles of the Orthodox Jewish falth. In addition the charitys charltable objects also include the relief of poverty, sickness and Infirmity. In furtherance of its objects the charity continues to advance arKI donate money and sUPPOrt other charities with objects similar to those detailed above. Strateglc report The following sections for aGhievements and performance and financial revlew fom) Ihe strateglc report of Ihe charity. A¢hievem•nts and perfom)ance The Governors have assessed the major risks to which the Charty is exposed and are sallsfled that systems are in place to miti9ale such risks.
Suncroft Donations Trust Company Limited by Guarantèe Trustees. Annual Report {Incorporatlng the Dlrector's Report) (¢oniln41ed) Year ended 28 February 2025 Financlal revlew The financial posltlon of the Charity is as refiected in th8 attached Balance Sheet. The retained distributable reserves are considered to be satisfactory by the Govemors in accordance with their Reserves poltcy. The att8ched 2ccounts sel out the results for the year ended 28th February 2025. The subsldiarV5 activlties are considered to be satisfaclory in the light of the difful1 economic corKliltons subsisting al this time. The Charity does not partake in external fvnding acttvltles. Funds are derived from property and other investments made. The attached Stalement of Financial Aclivitie5 Shows donations and inveslment income received during the year amounting to £1,241.424. Donations pald during the year totalled £1,031.460, Includlng monies spent on 5UPPOrt cosls. The resulting net income of £209.964 increased funds carried forward at 281h F8bru8ry 2025 10 £15.983.128. Plans for future perlods The Governors, objectives for the futur8 are to contlnue to cary out its activities as detsiled in their report. RESERVES POLICY It is the pollcy of the ch8rlty to malntain unrestricted funds, thich are Ihe free reserves of the charity, at a level whlch the Iruslees think appropriate after considerlng the fulure commitrnents of the charty and the likely future administrative costs of the charty. The Charivs reserves are represented by unrestricted funds arising from p8St operating results. At the year end, the charity had tolal unrestricted funds of £15,983.128. The Trustees are satisfied that the present balance of free reserv8s is sufficient to support antlcipated expenditure. Tru3tees' responslbllltlès statement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees. report 8nd the financial statemenls in aGrdance with applicable law and United Kingdom Accountlng Standards (United Kingdom Generally Accepied Accounting Practice). Company law requires the charity trustee9 to prepare financial statements for each year which give a true and fair view of the stale of affairs of the charitable company and the incoming r8sources and application of resources, includlng the income and expenditure. for that period.
Suncroft Donations Trust Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) fcontlnu•dJ Year ended 28 February 2025 In preparing Ihese financial statements, the trustee8 are required to-. select suitable accounting policies and apFty them consistently observe the methods and principles in the 8pplicable Charities SORP,. make judgments arKI accounllng estimates that are reasonable and prudent,. slate whether applicable UK Accounting Standards have been followed, subject to any malerlal departures disc105ed and explained in the rYn¢al statements," prepare the flnancial statements on the golng concern basls unless rt is inappropriate to presume that the charity wll contlnue in buslness. The Irustees are responsible for keeping adequate accountlng records that are sufflclent to show and explain the charity'5 transactions and dlsclose with reasonable accuracy 8t any tlme the financial position of the ¢harlty and enable them to ensure that the financial statements camply wrth the Companies Act 2006. They are also responsible for safeguarding the assels of the charlty and hence for taklng reasonable steps for the prevention and detectkjn of fraud and olher Irregularities. Audllor Each of the persons who is a truslee at the date of approval of this report confirms that.. so far as they are aware, there is no relevant audit information of which the charily'5 audnor Is unaware,. and they have taken all steps that they ought to have taken as a Iruslee to make themselves aware of any relevant audit information and to establish that the charity's auditor Is aware of Ihat infomiation. The auditor is deemed to have been rtrappointed in aCC(dance with section 487 of the Companie5 Act 2006. The trustees, annual report and the slrategic report wete approved on 22 December 2025 and signed on behalf of the board of trustees by.. Mr S Feldman Trustee
Suncroft Donations Trust Company Llmited by Guarantee Independent Auditor's Report to the Members of Suncroft Donations Trust Year endèd 28 February 2025 Oplnion We have audited the financial statements of Suncroft Donations Trust (the 'chariV) for the year ended 28 February2025 whlch comprise the statement of financial actlvities {Including income and expendilure aoUnt), statement of financial position, statement of cash flows and th8 related notes, including a summary of signlflcant accounting policies. The financial reporting framework that has been 8pplled in their preparation is applicable law and United Klngdom A¢¢ounting Standar(is. induding FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {Uni*ed Kingdom Generally Accepted Accounting Pracllce). In our opinion the financial ststements: give a true and falr view of the stste of the charivs aff8lrs as 8t 28 February 2025 8nd of Its incomlng resources and appllcatlon of resources, Including its income and expendllure, for the year then ended,, have been properly prepared In accordance with Uniied Kingdom Gen8rally Accepted Accounting Practice; have been prepared in accordance w5th Ihe requlrements of Ihe Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK} (ISAS (UK)) arKI applicable law. Our responsibilitles under those slandards are further described in the auditorfs responsibilitles for Ihe audit of the financial statements sertion of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the finanoial statements in Ihe UK, including the FRC'S Ethical Standard. and we have fulfilled our other elhic81 responsibiliiles in accordance th these requlremerrts. We believe that the audtt evidence we have oblained is sufficient and appropriate to provide a basis for our opinlon. Con¢luslons relating to going conGorn In audiling the financial statements, we have concluded that the trustees, use of the going concern basis of accoUnng In the preparation of the financial slatements 15 appropriate. Based on the work we have performed. we have not Identlfied any material uncertainties rel8tlng to events or conditions that, individually or collectivety. may cast significant doubt on the charitls ability to contlnue as a golng concern for 8 period of at least twelve months from when the financial slatemenls are authorised for issue. Our responsibllllies and the responslbilities of the trustees wlth respect to going concern are described in the relevant sections of this rewt.
Suncroft Donations Trust Company Llmited by Guarantee Independent Auditor's Report to the Members of Suncroft Donallons Trust {¢onllnu6dJ Year ended 28 February 2025 other Information The other information comprises the informalion included In the annual report. other than the financial statements and our auditor's report thereon. The trustees are responslble for the other informatlon. Our opinion on the financial statements does nol cover the other Information and. except to the exlent otherwise explicitly stated In our repori. y do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other Information ané, in doing so, ccnsider whether the other information is materially inconsistenl with the financial statement5 or our knowledge oblained in the audit or otherwi58 appears to be materially misslated. If we identify such material inconsistencies or apparent material misstatements, we are required lo delermine whether there is 8 material misslatement in the financial statements or a rnaterlal mis5tstement of the other infoTmation. If. based on the work we have performed, we conclude Ihat there is a material rnisststemenl of this other infofmatK?n, we are requlred to report that fact. We have rthlng to report in this regard. Opinions on other matters prescrlbed by the Companles Act 2006 In our oplnion, based on the work undertaken in the course of the audlt,. the Information given in the Irustees, report for the financial year for which the financAal slatements are prepared Is conslstent with the financlal statements.. and Ihe trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch wo are requlred to report by exception In the light of the knowledge and understar)ding of the charity and fts environment obtained in the Gourse of the audil. we have not identified material mlsstatements in Ihe Iru8tee6' report. We have nothing to pOrt in respect of the followlng matters in relation lo whlch the Companies Act 2006 requires us to report to you , in our opinion: adequate accounling records have not been kept, or returns adequate for our audit have not been recelved from branches nol visited by us. or the financial stateTnents are not in agreement with the accounling records and returns: or certain disclosures of trustees, remuneration specified by law are not made: or we have rK>t received all Ihe inform8tion and explanal(ons V require for our audit. Responsibillties of trustees As explained more fully in the trustees, responslbillties statemenl. the trustees {who are also the directors for the purposes of company law) are responsible for the PTeparatlon of the fmancial statements and for being satlsfled thal they give a true and fair view, and for such internal control as the truslees determine is necessary to enable the preparation of financial statements that are free from material mi55tatement, whether due to fraud or error. In preparing the financlal stalemenls, the trustees are responsible for 8ssessing the charlW8 ablllty lo contlnue as a going c£*ncern, disclosing, as appli¢able, matters related to going concern and uslrvJ the going concern basls of accounting unless the trustees elther intend to liquidate the charty or to cease operalions, or heve no realistic altèmatlve but to do so.
Suncroft Donations Trust Company Llmlted by Guarantee Independent Auditor's Report to the Members of Suncroft Donatlons Trust (conllnued) Year ended 28 February 2025 Audltor's re8ponsibilitles for the audlt of the flnancial slalements Our objeclives are to obtsin reason8ble assuranc8 about whether th8 financial statements as a whole are free Irom material misst8tement, whether due to fraud or error, and to18sue an auditorfs report that Includes our opinEon. Re8sonable assurance is a hlgh level of assurance, but is not a guarantee that an audit conducted in accordence wth ISAS (UK) will always detect 8 material misstslement when it exists. Misststements can arise from fraud or error and are considered material ff, individually OT in the aggregate, they could reasonably be expecled lo influence the economic decisions of users taken on the basis of these financlal statements. Irregularities. including fraud, are instances of non-Gompllance wlth laws and regulaiions. We design procedures in Ilne with our responsibilities. outlined above, to detect materi81 mlsststements in respect irregularities, induding fraud, The extent trj whlch our procedures are capable of detecting irregularllles, Including fraud Is detailed below. Our procedures are speclfiGally deslgned to enable us lo detect irregularitles, including fraud, to a high level of accuracy. As part of an audit accordance with ISAS (UK), we exercS8e professlonal judgment and mairrtain professlonal scepticlsm throughout the audit. We also: Idenlify and asses5 the rlsks of materlal mlsstatement of the financl81 statements, whether due to fraud or error, design and perform audit procedures responsive to those rlsks, and oblain audlt evidence that is sufficient and appropriale to provide a basi8 for our opinlon. The risk of not detecting a material misstatement resulting from fraud Is higher than for one resumlng from error, as fraud may involve Gollusion, forgery, intentional omlssions, misrepresentations, or the override of internal control. Obtain an understanding of internal Control relevant lo th& audit in order to deslgn audit procedure5 that are appropriate In Ihe circumstances, but not for the purpose of expressiro an opinion on th8 effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounling estimales and related disclosures made by the Irustees. onclude on the appropriateness of the trustees, use of the going concern basls of a¢¢ounting and, based on the audit evidence obtained. whether a material uncertainty exists related to events or conditions that may casi signific2nt doubl on the charity's abillty to continue as a going concern. If we conclude that a material uncetsinty exists, we are required lo draw aitenlion in our audltor's report to the related disclosures in the financial statements or, rf such éisclosures are Inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or condltlons may cause Ihe chwlty to cease to contlnue as 8 going concern. Evaluate the overall presentstion, structure and content of the financial statements, Induding the dlsclosures, and whether the financlal stalements represent the Underng transactions and events In a manner that achieves fair presentatlon.
Suncroft Donations Trust Company Llmitsd by Guarantée Independent Auditor's Report to the Membèrs of Suncroft Donatlons Trust {contind) Year ended 28 February 2025 We communicate wrth those charged with govemarjce reg8rding. among other matters, the planned scope and timing of the audit and signrficant audrt findings. including any slgnific2nt deficiencies in intemal control that we identfy during our audit. Use of our report Thls report is made solely to the ¢haritls members, as a body, in accordance wilh Chapler 3 of Part 16 of the Companies Act 2006, Our audit bvork has been undertaken so that we might 8t8te lo the ch8ritrfs members those matters we are required to stste to them in an auditor's report and for no other purpose. To the fullest extent permltled by law, we do not accept or assume responslbilty to anyone olher than the charity and the charltvs members 8s 8 body, for our 8udil work, for this reporL or for the opinlons we have formed. D.Scott (Senior Statutory Auditor) For end on behalf of Harold Everett Wreford LLP Chartered accountsnts & ststutory auditor Hallswelle House 1 Hallswelle Road London England NW11 ODH 22 December 2026
Suncroft Donations Trust Company Llmlted by Guarantse Statement of Flnancial Activltles {including income and expenditure account) Year ended 28 February 2025 2025 Unrestricted funds Total funds Total funds 2024 Incom¢ and endowments Investment InGome Other income 25 1.241,399 1.241,424 25 1,241,399 1,241,424 108 1,198,034 1,198.142 Total Income Expendlture Expenditure on charltsble activities Total expendlturè 7,8 1,031,460 1.031,480 1,031,460 1,031,460 1,079,440 1.079.440 Net income and net movement in funds 209,964 209,964 118.702 Roconclllation of funds Total fund5 brought forward Total funds carried forward 15.773,164 15.773,164 15.654.462 15.983.128 15,983,128 15.773.164 The statement of financial activltles includes all gains and losses recognlsed in the year. All income and expenditure derlve from continuing activities. The notes on pages 1210 19 forn) part of these flnancial 8tat•ments.
Suncroft Donations Trust Company Limited by Guarantee Statement of Flnanclal Posltion 28 February 2025 2025 2024 Notè Flxed ass•ts Tangible flxed assets Investments 12 13 19.343,941 19,343,941 19,343,942 19,343.942 Current assets Debtors Cash at bank and in hand 19,833 18,669 38.502 14 3.264 87,815 91,079 Creditors: amounts falllng due withln ona year N•t ¢uYrenl Ilabilltles Totsl assets less current Ilabllltles 15 3,451,893 3,609,280 3,360,814 3,570,778 15,983,128 15.773,164 Funds of the charity Unrestricted funds Total charity funds These financlal statements were approved by the board of Irustees and authorised for Issue on 22 December 2026, and ere signed on behalf of the board by. 15,983,128 15,773,164 16,983,128 15,773.164 16 Mr S Feldman Trustee The notes on pagos 12 10 19 forni part of the8• financial slatemErtts. -10-
Suncroft Donations Trust Company Limited by Guarantee Statement of Cash Flows Year ended 28 February 2025 2025 2024 Cash flows from operating activities Net Income 209,984 118,702 Adjuslments for.. Other interest receivable and similar income Interest payable and slmllar ch8rges (25) 147,546 (108) 145,552 Changes In." Trade and olher debtors Trade and other credltors Cesh generated from operallons Interest paid Interest received Net cash from operating actlvities 16,569 5,776 379,830 (16,575) 6,159 253,730 (147,546) (145,552) 25 232,309 108,286 Cash Il¢)ws from fjnanclng actlvltles Proceeds from loans from group undertakings Nel cash used In financlng actlvlties {163,q63) (234.116) {163,163) (234.116) Net increa$el(de¢rease) in cash and cash •qulvalents Cash and cash equlvalents at beglnnlng of year Cash and cash equivalents at end of year 69,146 18,669 87,815 {125,830) 144,499 18,669 The not•6 on pag¢s 12 to 19 form part of these fflnandal 8tstemenls. 11
Suncroft Donatlons Trust Company Limited by Guarantee Notes to the Financial Statemonts Year ended 28 February 2025 General Informatlon The charty is a public benefit entity and a private company limited by guarantee, registered In England and Wal8s and a registered charity in EryJland and Wales. The 8ddress of the reglstered ofFice is Hallswelle House, 1 Hallswelle Road. London. NW11 ODH. ststement of compllance These financial slaternents have been prepared in complianG8 With FRS 102. The Financial Reporting Stsnd8rd applicable in the UK and the Republic of Ireland,, the Stalement of Recommended Practice applicable lo charities preparing their accounts in accordance wilh the Financi81 Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Chariltes SORP (FRS 102)) 2nd the Companies Act 2006. AcGountlng policles Basls of preparation The financial 51atements have been prepared on the historlcal cosl basis, as modified by the revaluation of certaln financial essets and li8bilities and Investment properties measured at fair value through Income or expenditu. The financial statem8nts aw prepared in sterllng, which is the function81 currency of the entlty. Going concern There are no material uncertalnties about the charitys ability lo continue. Judgements and koy sources of estimatlon uncertalnty The preparation of the financial statements requires managemenl to make judgements, estimates and assumptlons Ihat affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other f8Ctors, Includlng expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the truslees lo further any of the charitys purposes. Designated funds Bre unrestricted funds earmarked by the trustees for particular future PToject or commilrnent. Reslricted funds are subjected lo restriclions on their expenditure declared by the donor or Ihrough the terms of an appeal. and fall into one irf two SUt>class8s'. restricted income funds or endowment funds. Incoming resources All incomlng resources are Sncluded in the statement of financial activities when entitlement has passed lo the charity. St is probable thai the economic benefits associaled wilh the transadion will tlow lo the ¢h8rity and the amount can be reliably measured. The following specffic policie5 are applied lo partlcular categories of income: -12-
Suncroft Donations Trust Company Limlted by Guarantee Notes to the Financlal Statements {continuedJ Year ended 28 February 2025 Accountlng pollcles {contlnued) income from donations or grants is recognised when there is evidence of entillement to the 9rft, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipl is probable and entitlement IS BStabli5hed. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derwed from the cost to the (lonor or the estimated resale value. Donaled facilities and services are recognised in the accounts n received if the v8lue can be reliably measured. No amounts are Included for the contribution of general volunteers. Income froTn contracts lor th8 supply of services is recognised with the delivery of the ontracted service. This is da5sified as unrestricted funds unless there is a conlractual requiremenl for it to be spent on a particular purpose and retumed rf unspent, in whi¢h case it may be regarded as restrtcted. Resources expended Expendlture is cognISed on an accruals basis as a liablllty Is Incurred. Expenditure indudes ary VAT which cannot be fully recovered, and is classified under headings of the slaternent of fin8ncial acllvllie5 to whlch it relates: expenditure on raislng funds includes the costs of all fundralsing actlvit*s. events, non- charitable tradlng actlvities, and the sale of donated goods. expendlture on oharltable aclivltles includes all costs irKurred by a charlty in undertaking activities Ihal further Its charllable alms for the benefit of its beneficiaries, includlng Ihose support costs and costs relaling to the governance of the charity apportioned to charilable activities. other expenditure includes all expenditure Ihat is nelther related to raising fuThls for the charity nor part of its expenditure on charrtable activities. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs atlribulable to a single activily are Bllocated directly lo that activity. Shared costs are apportion8d between the activities they conlribute to on a reasonable, justrfiable and consistent basis. Tangible assets Tangible assels are initi311y recorded at cost, and subsequently stsled at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued arnounls are recorded at the fair value al the date of revaluatlon less any subsequent accumulated depreciation and subsequenl accumulaled impaimient losse5. An increase In the carrying amount of an ass81 as 8 resutt of a revaluation, is recognised In other recognised gains and losses. unless It reverses a charge for impairment that has previously been recognised as expenditure within the stalernent of financi81 activities. A decrease in the carrying 8mount of an asset as a result of revalualion, is recogntsed In other recognised galns arKI losses. except to which It offsets any previous reV81u8tlon gain, in which case the loss is shown within other rewgnlsed gains and losses OD the statement of financial activities. 13-
Suncroft Donations Trust Company Limited by Guarantee Notes to the Financlal Statements (¢ontlnued) Year ended 28 February 2025 Accountlng policies (¢onlinued) Investment property Investment property, which is property ld lo earn renlels andlor for capital appreciation, is initially recognised at cost. which includes the purchase cost and any directly aitributable expendtture. Subsequenuy it is measured al fair value at the reporting end date. The surplus or defEcit on revaluation is recognised in profrt or loss. No depreciation or amortisation is provided in respect of the investment propety- Investments Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If faSr value cannot be reliably measured, assets are measured al cost less impairment. Listed Investments are measured at falr value with changes In fair value belng recognised in Income or expenditure. Invgstments In a86oclates Investmenls in assoclates accounted for in accordan wlth the cost model 8re recorded at cost less any accumulated impairment losses. Investments In associates accounted for in accordan with the fair value model are initially recorded at the transacllon price. Al each reportlng date. the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure falr value reliably wthoul undue cost or effort, the cost model wlll be adopted. Dlvidends and other distributions receNed from the investment are recognlsed as income witl)out regard lo whether the dlstribullons are from accurnulated profrts of the 8ssocl8le arislng before or after the date of acquisition. Invaslmonts in Joint ventures Investments in jointly controlled entities accounled for in accordance with the Cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in a(Lordance with the fair value m(*Jel are initially recorded at the transaction prlce. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost rnodel will be adopted. Dividends and other dlstributions received from the investment are recognised as income without regard to whether the distributions are from accumulaled profts of the joint venture arising before or after the date of acquisition. Impairment of flxed assets A review for indicators of Impairment is Carrled oul at each rnporting date, wlh the 0Verable amount belng eslimaled where such indicators exi$t. Where Ihe carrying value exceeds the recoverable amount. the asset is impaired accordiroly. Prior Impalrments are also revbwed for possible reversal at each reporting date. 14-
Suncroft Donations Trust Company Limited by Guarantee Notes to the Financial Ststements (contlnued) Year ended 28 February 2025 Accounting policies (continuèdj Impaimient of fixed assets (contlnued) For purposes of impairment testing, when it Is not possible to estimate the recoverable amount of an individual asset. an ests.mate is made of Ihe recov8rable amount of the (xh- generdting unit lo which the asset belongs. The cash-generaling unit is the smallest idenlifiable 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 impairnent testing of goodwill, Ihe goodwill acquired in a business combination is, from the acquisition date, allocated lo each of the c8sh-generating units that are expected to benefrt from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognlsed only when the charlty becomes a party lo the conlractual provi51ons of the instrument. Baslc financial instruments are inilially recognised at the amount receivable or payable including any related transaction costs. Current assets 2nd Gurrent liabllfrties ere subsequently measured at the cash or other conslderatlon expected to be pald or received and rK)t discounted. Debt instruments ar8 subsequently measured at amortlsed cost. Where investments in sheres are publidy traded Qr their falr value can otherwise be measured reliably, th8 investment Is subsequentty measured at falr value th change5 in fair value recognised in income and expendtture, All other such Investments are subsequently measured al cost less impalrment. Other financlal instruments, including derivatives, are initially recognised at falr value, unless P8wnent for an a5sel is deferred beyond normal business lerms or fInand at a rale of interest Ihat is not a market rate, in which case Ihe assel is measured at the present value ol the future payments discounted at a markel rate ol interest for a simllar debt instrument. Other financial instruments are subsequently measured al fair value, wllh any changes recognised in the statement of financial aclivities. with the exception of hedging instruments in 8 designaled hedging relatlonship. Financial assets that ere measured at cosl or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an Impairment IOBS is recognised under the approprlate heading in the slatement of financial activities in which the initial gain was recognised. For all equty Instruments regardless of significance. and other financial assets that are Individually signrficant, these are assessed individually for impairment. other financial assets are either assessed individvally or grouped on the basis of simi18r credit risk characteristics. Any reversals of impairment are recognlsed immedlately. to the extent that the reversal does not result in a carrying amount of the financiol asset that exceeds what the carrying amount would have been had the Impairment not previously been recognised. 15-
Suncroft Donations Trust Company Llmited by Guarantee Notes to the Financlal Statements (conrfnued} Year ended 28 February 2025 Limlted by guarantee The charity is a Company Ilmited by guaranlee. The liability of the members is Ilmited to 8 sum not exceeding £10, being the 8mount that each member undertakes to contribute to the assets of the charity in the event of Its belng wound up while he, she or11 is a member or withln one year after he, she or it ceases to be a member, for 1) paymenl of the charlvs debts and118bllities incurred before h8, she or it Ceases to be a member 2) payment of the costs, charges and expenses of wlnding up, 8nd 3)adluslment of the rights of the contributories among themselves. Investment income Unrestrtcted Total Funds Unrestricted Totsl Funds Funds 2025 Funds 2024 Bank interest receivable 25 25 108 108 Othèr Inconie Unrestricted Total Funds Unrestricted Totsl Funds Funds 2025 Funds 2024 Rents receivable 1.241.399 1,241,399 1,198,034 1,198,034 Expenditure on charltable activltles by fund type Unreslrlcted Total Funds Unrestrlcted Toial Funds Funds 2025 Funds 2024 Donations paid Support costs 880.000 151,460 1,031.460 B80,000 151,460 1,031,460 930,000 149,440 1,079.440 930,000 149,440 1.079,440 Expendlture on charltable actlvltlos by actlvlty type Actlvities undertaken dSrectly Support cosls Total funds 2025 Total fund 2024 Donations p8id Governance costs 880.000 880,000 151,460 1,031.460 930.000 149.440 1,079,440 151,460 151,460 880,000 Auditors remuneratlon 2025 2024 Fees pay8ble for the audit of the financlal ststements 3.750 3,750 10. Staff costs 16-
Suncroft Donations Trust Company Limlted by Guarantee Notes to the Financial Statements (conllnued) Year ènded 28 February 2025 10. Staff costs (¢ontsMi•d) The average head count of employees during the year was 4 (2024: 4). The average number of full-time equivalent employees during the year is analysed as follows: 2026 2024 No. No. Trustees No employee received employee benefits of more than £60.000 during the year {2024: Nil). 11. Trustee remuneratlon and expenses ND remuneration or other benefts from employmenl with the charity or a related entty were received by the trustses. 12, Tanglble fixèd assets Land and bulldlngs Cost At 1 March 2024 and 28 February 2025 Depreciation At 1 Mar¢h 2024 and 28 February 2025 Carrying amount At 28 February 2025 At 29 February 2024 19,343,941 19.343,941 19,343.941 The Iwstees are of the opinion that the cost of the investment property represents a fair valuation of Ihe property as at 28th February 2025. 13. Investments Shares In group undertakings Cosl or valuation At 1 March 2024 and 28 February 2025 Impairment At 1 March 2024 and 28 February 2026 Carrylng amount At 28 F¢bruary 2025 At 29 February 2024 All investments shown above are held at valuation. 17-
Suncroft Donations Trust Company Limlted by Guarantee Notes to the Financial Statements (¢ontlnu•dJ Year ended 28 February 2025 14. Debtors 2025 2024 Other debtors 3.264 19.833 15. Credltors: amounts falllng due within one year 2025 2024 Amounts owed to group undertakings Other creditors 3.267,087 184,806 3,451.893 3,430,250 179,030 3,609,280 16. Anatysl8 of charllable funds Unrestrlcted funds Al 1 Marth 2024 28 February 2025 Income Expendilure General funds 15,773.164 1,241.424 11,031,460) 15,983,128 At 29 February 2 024 At 1 March 2023 Income Expenditure General funds 15.654.462 1,198,142 11,079,440) 15,773.164 17. Analysls of not assets between funds Unrestrlcted Total Funds Funds 2026 T8nglble fixed assets Investments Current assets Creditors less than 1 year 19.343,941 19,343,941 91,079 91.079 (3,451,893) 13,451,893) 15,983,128 15.983,128 Net assets Unrestricted Total Funds Funds 2024 Tangible fixed assets Inveslments Current assets Creditors less than 1 year Net assets 19.343,941 19,343.941 38,502 38,502 13.609,280) (3.609.280) 15.773,164 15,773.164 18-
Suncroft Donations Trust Company Llmited by Guarantee Notes to the Financial Statements (¢gnthued) Year ended 28 February 2025 18. Analysls of changes in not debt At At l M8r 2024 Cash Ilows 28 Fob 2025 Cash at bank and in hand Debt due within or* year 18.669 (3.430.250) (3.411,581) 69,146 87,816 163,163 {3,267,087) 232.309 (3,179,272) 19. Related partles The charlty has one 1 OOOh subsidiary, Suncroft Developments Llmited. The subsldiary company Is involved in admistration matters conceming the charltrfs Income stream.