REGISTERED COMPANY NUMBER: 08298fAO (England and Wales) REGISTERED CHARrrY NUMBER: 1150212 Report of the Trustees and Unaudited Financlal Statements FOR THE PEIUOD l July 2023 to 31 March 2024 THE SAsfA FOUNDATION Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 IDH THE SASTA FOUNDATION Contents of the Financial Statements FOR THE PERIOD I JULY 2023 TO 31 MARCH 2024 Page Report of the Trustees I to 2 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Ststements 7 to 10 THE SASTA FOUNDATION Report of the Trustees FOR THE PERIOD I JULY 2023 TO 31 MARCH 2024 The trustees who are also directors of the charity for the PLtrposes of the Companie5 Act 20061 present their report with the financial statements of the charity for the period l July 2023 to 31 March 2024. 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) (effettive l January 2019). OBJECTIVES AND ACllVftIES Objectives and aims The Charity's objertive is the advancement of the orthodox jewish faith. Public benefit During the year the charity was involved in philanthropic attivitie5 and has given support to educational and other charitsble institutions. The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity. Grantmaking Grants are made to charitsble institutions and organisations which accord with the objects of the charity. The Charity has given supp)rt to educational and other charitsble institutions. The aggregate donations during the year was £59,057 (2023- £98,827) ACHIEVEMENT AND PERFORMANCE Investment performance During the year a propety was acquired by the charty. The trustees are sab"sfied with the investment performance of the charity. FINANCIAL REVIEW Financial position The charity had total incoming resources of £180,518 (2023.. £114,423). The totsl cost of raising funds was £72,347 (2023: £56,385) and the totsl charitable activities were £60,761 (2023.. £108,794). At the balance sheet date the charity had total unrestricted funds of £1,748,394 (2023- £1,715,752). STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limtted by guarantee, as defined by the Companie5 Att 2006. REFERENCE AND ADMINISTRATIVE DEfAILS Registered Company number 08298640 {Engliind and Wales) Registered Charity number 1150212 Registered office Devonshire House 582 Honeypot Lane Stanmore Middlesex HA7 IJS Trustees M W Stsszewski Mrs M A Staszewski Page I THE SASTA FOUNDATION Report of the Trustees FOR THE PERIOD I JULY 2023 TO 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Mr Aryeh Melinek, FC4 Melinek Fine LLP Chartered Accountsnts First Floor, Winston House 349 Regents Park Road London N3 IDH Approved by order of the board of tnjstees on ................ and signed on its behalf by.. M W Stsszewski - Trust Page 2 Independent Examlne¢s Report to the Trustees of The Sasta Foundation Independent examlner's report to the trustees of The Sasta Foundation {'the Company.) I report to the charlty trustees on my examination of the accounts of the Company for the period l Juty 2023 to 31 March 2024. Responslbllltles and basls of report As the charlivs truste￿ of the Company (and also Sts dlre£tors for the purposes of company law) you are responsible for the preparation of the accounts in accordan￿ with the requlrements of the Companies Act 2006 ('the 2006 Act,). Havlng satlsfled myself that the accounts of the Company are not required to be audlted under Part 16 of the 2006 Act and are ellglble for Independent examlnatlon, I rewrt In respect of my examlnatlon of your chariV5 accounts as carried out under Sectlon 145 of the Charlties Att 2011 ('the 2011 Arf). In carrylng out my examination I have followed the Dlrectlons glven by the Charlty Commisslon 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 attentlon in connection wlth the examinatlon glving me cau* to believe: accountlng records were not kept in respect of the Company as requlred by Sectlon 386 of the 2006 Act; or the accounts do not accord wlth those records; or the accounts do not comply with the accounting requlrements of Sectlon 396 of the 2006 Act other than any requlrement that the accounts give a tfue and fair vlew which Is not a matter consldered as part of an independent examlnation. or the accounts have not been prepared in accordan￿ with the methods and prlnclples of the Ststement of Recommended Practlce for accountlng and reporting by charitles (appllcable to charltles preparlng thelr accounts in accordance wlth the Financlal Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102)). I have no concern5 and have come across no other matters In conneLtlon wlth the examlnatlon to whlch attention should be drawn In this report In order to enable a proper understanding of the accounts to be reached. Mr Aryeh Mellnek, FCA Mellnek Flne LLP Chartered Accountants Flrst Floor, Wlnston House 349 Regents Park Road London N3 IDH Date: .k. ! Page 3 THE SASTA FOUNDATION Statement of Financial Activities FOR THE PERIOD I JULY 2023 TO 31 MARCH 2024 Period 1.7.23 to 31.3.24 Unrestricted fL(nd Year Ended 30.6.23 Total funds INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Notes 79,530 Total 100 988 114 423 180 518 EXPENDrnIRE ON Raising funds Charitable artivities Charitable grants made Charitable activities 72,347 56,385 59,057 1,704 98,827 9,967 Total 133 108 165 179 Net gains/(losses) on investments 14 768) NET INCOMEI(EXPENDITURE) 32,642 (50,756) RECONCIUAnON OF FUNDS Totsl funds brought forward 1,715,752 1,766,508 TOTAL FUNDS CARRIED FORWARD 1 748 394 1715,752 The notes fomi part of these financial statements Page 4 THE SASTA FOUNDATION Balano Sheet 31 MARCH 2024 2024 un￿stri￿ed fund 2023 Total nds FIXED ASSETS Investments Investments Investment property Notes 46,404 3 476 547 78,311 2 502 923 CURREMf ASSErs Debtor5 Cash at bank 3,522,951 2,581,234 2,113 CREDITORS Amounts falling due within one year 30,193 25,568 (866,196) {3,000) NEf CURRENT ASSErs 836,003) TOTAL ASSEfs LESS CURRENT LIABILfTIES CRED￿oRs Amounts falling due after more than one year 2,686,948 2,603,802 io (938,554) (888,050) NEf ASSErs 1748 394 1715.752 FUNDS Unre5tritted funds 1748 394 TOTAL FUNDS 1 715 752 1748 394 1715 752 The charitrable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024. The members have not required the company to obtain an audit of its financial ststements for the period ended 31 March 2024 in accordance with Sectron 476 of the Companies Att 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitsble company keeps accounting records that comply with Sections 386 and 387 of the Companies Att 2006 and 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 accordan￿ with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Att 2006 relating to financial Statements, so far as applicable to the charitsble company. (b) The r)ote5 fomi part of these financial Statements Page 5 continued,.. THE SAsfA FOUNDATION Balance Sheet - continued 31 MARCH 2024 These financial statements have been prepared in accordan￿ with the provisions applicable to charitable companies subject to the small companie5 regime. The financial statements were approved by the Board of Trustees and authorised for issue on "'*.i..l.i.l.u................. and were signed on its behalf by.. M W Sta52ewski - Tr The notes form part of these financial statements Page 6 THE SASTA FOUNDATION Notes to the Financlal Statements FOR THE PERIOD I JULY 2023 TO 31 MARCH 2024 ACCOUNTING POLICIES Basrs 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 Prattl￿ applicable to charities preparing their accoLtnts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019}', Financial Reporting standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Att 2006. The financial statements have b￿n prepared under the historical cost convention, with the exception of investments which are included at market value. as modified by the revaluation of certain assets. Income All income is recognised in the Ststement of Financial Artivities once the charity has entitlement to the ftjnds, 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 direcuy attributed to particular headings they have been allocated to artivities on a basis consistent with the use of resources. Grants offered SLfbjett to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Investment property Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Ststement of Financial Activities. Taxation The charity is exempt from corporation tax on its charitable acknvities. Fund accounting Unrestrirted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restritted funds can only be used for particular restritted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fvnds 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. INVEsfMENT INCOME Period 1.7.23 to 31.3.24 Year Ended 30.6.23 Rents received Other fixed asset invest - FII Deposit account interest 100,891 108,145 6,155 123 97 100 988 114 423 Page 7 continued... THE SAsfA FOUNDATION Notes to the Financial Statements - continued FOR THE PEIUOD I JULY 2023 TO 31 MARCH 2024 RAISING FUNDS Investment management costs Period 1.7.23 to 31.3.24 Year Ended 30.6.23 Insurance Repairs and Renewals Service charges Letting Fees Management Fees Interest payable and similar charges 1,178 5,787 13,347 2,751 5,557 1,074 4,501 7,071 1,905 9,070 GRANTS PAYABLE Period 1.7.23 to 31.3.24 Year Ended 30.6.23 Charitable grants made The total grants paid to institutions during the year was £59,057 (2023: £98,827). A Summary of grants made to institutions during the year is as follows: Name of institution Amount (£) The British Friends of Midrash Shmuel The Rehabilitation Trust Charity Limited Hendon Adath Yisroel Congregation Chabad Lubavitch of Bournemouth Friends of Bels Yi5roel Trust other 30,000 10,000 4,600 1,345 1,207 1,000 10,905 Total 59,057 TRusfEES' REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the period ended 31 March 2024 nor for the year ended 30 June 2023. Trustees, expenses There were no trustees, expenses paid for the period ended 31 March 2024 nor for the year ended 30 June 2023. Page 8 continued.,. THE SAsfA FOUNDATION Notes to the Financial Statements - continued FOR THE PERIOD I JULY 2023 TO 31 MARCH 2024 FIXED ASSET INVEsfp4ENTS Unlisted inv*tments MARKEf VALUE At l July 2023 Disposals Revaluations 78,311 (17,139) 14 768) At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 30 June 2023 Cost or valuation at 31 March 2024 is represented by: Unlisted investments Valuation in 2024 Cost {14,768) INVEsfMENT PROPERTY FAIR VALUE At l July 2023 Additions 2,502,923 973 624 At 31 March 2024 NET BOOK VALUE At 31 March 2024 3,476 547 3 476 547 At 30 June 2023 2 502 923 DEBTORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 2024 Trade debtors 2023 2,113 Page 9 continued.,, THE SAsfA FOUNDATION Notes to the Financial Statements - continued FOR THE PERIOD I JULY 2023 TO 31 MARCH 2024 CREDrroRS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 2024 2023 Other creditors Accruals and deferred income 864,996 866 196 3,000 io. CREDrroRS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 2024 2023 Bank loans (see note 11) 938 554 ii. LOANS An analysis of the maturity of loans is given below: 2024 2023 Amounts falling between one and two years: Bank loans - 1-2 years 938 554 888 050 12. RELATED PARTY DISCLOSURES During the financial year, the charity received donations from trustees or companies owned and managed by the trustees amounting to £63,624 (2023.. £Nil) of which £43,624 wa5 part of a transfer of a property at undervalue to the charity. No other related paty transactions occurred dLJr¢ng the year. The trustees received no remuneration or other benefits during the financial year, and no expenses were reimbursed. Page 10