REGISTERED COMPANY NUMBER: 08098333 (England and Wales) REGISTERED CHARITY NUMBER: 1148316
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
FOR
IGO FOUNDATION LTD
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
IGO FOUNDATION LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 11 |
IGO FOUNDATION LTD (REGISTERED NUMBER: 08098333)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are:
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The relief of poverty in any part of the world;
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The advancement of the Jewish religion in any part of the world;
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The advancement of the education of the public in any part of the world in the knowledge of the Jewish history and culture;
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Such other charitable purposes in any part of the world as the trustees shall from time to time decide.
Public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the grantmaking policy.
Grantmaking
Grants are made to charitable institutions and organisations after it has been satisfied that payments will accord with the objectives of the charity.
Volunteers
There were no volunteers during the year.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The results for the year and the financial position at the year end were considered satisfactory by the trustees.
During the year the charity continued its philanthropic activities in support of religious, educational and other charitable institutions and the donations made were £264,601 (2024: £255,170). The charity also donated food parcels directly to needy families with a total cost of £6,863 (2024: £6,517).
Fundraising activities
Donations together with income arising on investments were considered reasonable and the trustees feel that the present level of income is sufficient to permit the charity to continue for the foreseeable future.
A summary of the charity's transactions and of its financial position is shown in the financial statements together with the accompanying notes.
Investment performance
Under the memorandum and articles of association the charity has the power to invest in any way the trustees wish.
The trustees are satisfied with the return on investments achieved during the year and feel confident that the charity has adequate reserves to fulfil its charitable obligations.
Internal and external factors
There are no specific factors to report.
FINANCIAL REVIEW
Principal funding sources
The principal funding sources are donations from corporate sponsors and investment income.
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IGO FOUNDATION LTD (REGISTERED NUMBER: 08098333)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
FINANCIAL REVIEW
Reserves policy
The charity aims to maintain reserves in order that it is in a position to continue its grant making activities at a consistent level and to cover contingencies of additional calls being made upon the charity for support of organisations or institutions in times of need.
The present level of funding is adequate to support the continuation of the provision of assistance by the giving of grants or equipment in the short term, and the trustees consider the financial position of the charity to be satisfactory.
Going concern
The trustees have assessed the charity’s financial position and are satisfied that it has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.
FUTURE PLANS
The Trustees plan to continue to support charities and charitable purposes in accordance with their grant making policy and to ensure that the ability to generate sufficient income is maintained to achieve that end.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association.
Recruitment and appointment of new trustees
Membership of the Charity is open to any individual or organisation interested in promoting the objects who:
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applies to the charity in the form required by the Trustees;
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consents to act as a Trustee;
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is approved unanimously by the Trustees;
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signs the Register of members or consents in writing to become a member either personally or (in the case of a member organisation) through an authorised representative.
Organisational structure
The company has 3 trustees; names of members are listed below. The charity is organised so that the trustees meet regularly to manage the affairs of the charity.
Induction and training of new trustees
New Trustees must familiarise themselves with the content of the Memorandum and Articles of Association, their legal obligations under charity and company law, the organisational structure of IGO Foundation Ltd and the recent financial performance of the charity.
Training of trustees will depend on their previous knowledge and experience.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
08098333 (England and Wales)
Registered Charity number
1148316
Registered office
29 Grosvenor Gardens London NW11 0HE
Trustees
Mr B Ost Mrs G Ost Mr A Lipschitz
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IGO FOUNDATION LTD (REGISTERED NUMBER: 08098333)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Daniel Fine, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Bankers
Lloyds TSB 1 Butler Place London SW1H 0PR
Approved by order of the board of trustees on 23 April 2026 and signed on its behalf by:
Mr B Ost - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
IGO FOUNDATION LTD (REGISTERED NUMBER: 08098333)
Independent examiner's report to the trustees of Igo Foundation Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Daniel Fine, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
23 April 2026
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IGO FOUNDATION LTD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities Charitable donations Charitbale activities Total NET INCOME/(EXPENDITURE) Other recognised gains/(losses) Gains on revaluation of fixed assets Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 48,070 173,663 221,733 243 264,601 9,304 274,148 (52,415) - (52,415) 259,893 207,478 |
Restricted fund £ - - - - - - - - - - 1,250,000 1,250,000 |
2025 Total funds £ 48,070 173,663 221,733 243 264,601 9,304 274,148 (52,415) - (52,415) 1,509,893 1,457,478 |
2024 Total funds £ 290,981 114,600 405,581 5,882 261,687 5,072 272,641 132,940 116,994 249,934 1,259,959 1,509,893 |
|---|---|---|---|---|
The notes form part of these financial statements
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IGO FOUNDATION LTD (REGISTERED NUMBER: 08098333)
BALANCE SHEET 30 JUNE 2025
| Notes FIXED ASSETS Tangible assets 7 Investment property 8 CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
2025 £ 412 1,851,618 1,852,030 7,080 778 7,858 (402,410) (394,552) 1,457,478 1,457,478 207,478 1,250,000 1,457,478 |
2024 £ 515 1,750,000 1,750,515 850 6,618 7,468 (248,090) (240,622) 1,509,893 1,509,893 259,893 1,250,000 1,509,893 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.
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The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 April 2026 and were signed on its behalf by:
Mr B Ost - Trustee
The notes form part of these financial statements
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IGO FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Motor vehicles - 20% on reducing balance
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to the statement of financial activities..
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| Rents received Deposit account interest |
2025 £ 173,658 5 173,663 |
2024 £ 113,079 1,521 114,600 |
|---|---|---|
continued...
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IGO FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025
3. RAISING FUNDS
Investment management costs
| Property repairs Rates and water 4. GRANTS PAYABLE Charitable donations |
2025 £ 221 22 243 2025 £ 264,601 |
2024 £ 930 4,952 5,882 2024 £ 255,170 |
|---|---|---|
A summary of grants made to institutions during the year is as follows:
| Name of institution Yeshuos Shabbos Yesmach Levav Lehachzikom UK Keren Olam Hatorah Rise and Shine CMZ Ltd Chasdei Chaim Moishe The AA Trust LIVE AND LEARN Mifal Tzedoko V'Chesed Limited Mifal Hachesed Vehatzdokoh Sows Charity Other Total NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
Amount (£) 20,000 18,536 11,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 115,065 264,601 2025 2024 £ £ 103 129 |
|---|---|
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2025 nor for the year ended 30 June 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2025 nor for the year ended 30 June 2024.
continued...
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IGO FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025
7. TANGIBLE FIXED ASSETS
| COST At 1 July 2024 and 30 June 2025 DEPRECIATION At 1 July 2024 Charge for year At 30 June 2025 NET BOOK VALUE At 30 June 2025 At 30 June 2024 8. INVESTMENT PROPERTY FAIR VALUE At 1 July 2024 Additions At 30 June 2025 NET BOOK VALUE At 30 June 2025 At 30 June 2024 Fair value at 30 June 2025 is represented by: Valuation in 2025 Cost 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors |
2025 £ 7,080 |
Motor vehicles £ 7,500 6,985 103 7,088 412 515 £ 1,750,000 101,618 1,851,618 1,851,618 1,750,000 £ 965,670 885,948 1,851,618 2024 £ 850 |
Motor vehicles £ 7,500 6,985 103 7,088 412 515 £ 1,750,000 101,618 1,851,618 1,851,618 1,750,000 £ 965,670 885,948 1,851,618 2024 £ 850 |
|
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| 1 | ||||
continued...
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IGO FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025
| 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accrued expenses 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted fund £ Fixed assets 412 Investments 601,618 Current assets 7,858 Current liabilities (402,410) 207,478 12. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accrued expenses 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted fund £ Fixed assets 412 Investments 601,618 Current assets 7,858 Current liabilities (402,410) 207,478 12. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
Restricted fund £ - 1,250,000 - - 1,250,000 At 1.7.24 £ 259,893 1,250,000 1,509,893 Incoming resources £ 221,733 221,733 |
2025 £ 401,150 1,260 402,410 2025 Total funds £ 412 1,851,618 7,858 (402,410) 1,457,478 Net movement in funds £ (52,415) - (52,415) Resources expended £ (274,148) **(274,148) ** |
2024 £ 246,950 1,140 248,090 2024 Total funds £ 515 1,750,000 7,468 (248,090) 1,509,893 At 30.6.25 £ 207,478 1,250,000 1,457,478 Movement in funds £ (52,415) **(52,415) ** |
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continued...
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IGO FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS |
At 1.7.23 £ 9,959 1,250,000 1,259,959 |
Net movement in funds £ 249,934 - 249,934 |
At 30.6.24 £ 259,893 1,250,000 1,509,893 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 405,581 405,581 |
Resources expended £ (272,641) (272,641) |
Gains and Movement losses in funds £ £ 116,994 249,934 116,994 249,934 |
|---|---|---|---|
13. RELATED PARTY DISCLOSURES
During the year £40,000 (2024: £55,000) was donated by companies under common control.
Included within other creditors is a balance of £395,000 (2024: £240,800) due to companies under the control of one or more of the trustees.
14. RESTRICTED FUND
Restricted funds were received for the purpose of purchasing the investment property.
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