Charity number: 1151303
THE CASCIA TRUST
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE CASCIA TRUST
CONTENTS
Page
Reference and administrative details of the Charity, its Trustees and advisers
Trustees. report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial statements
8-17

THE CASCIA TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARI￿, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Stephen Rosefield
Roberta Rosefield
Hannah Rosefield
Paul Rosefield
Charity registered
number
1151303
Principal office
33 Ely Place
London
EC1N 6TD
Independent Examiner
lan Saunderson FCA
BKL Audit LLP
35 Ballards Lane
London
N3 1XW
Bankers and Investment Arbuthnot Latham & Co
Advisors
7 Wilson Street
London
EC2M 2SN
Page 1

THE CASCIA TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial statements of the Charity for the yearyear 1
January 2024 to 31 De￿mber 2024.
Objectives and activities
a. Policies and objectives
The objectives of the charity, as set out in its goveming document are to benefit such charities and such
charitable purposes as the trustees may determine.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefit. including the guidan￿ 'Public benefit.. running a
charity {PB2}'.
b. Strategies for achieving objectives
The Trustees meet regulady to consider causes to support, carefijlly assessing each cause based on available
funds. Causes are selected from Trustee contacts and knowledge, rather than accepting unsolicited
applications.
c. Activities undertaken to achieve objectives
The Charity undertakes to give grants to worthy organisations as the Trustees see fit.
d. Main activities undertaken to further the Charity's purposes for the public benefit
The Charity undertakes to give grants to further its purposes for the public benefit. Grants are made to other
charitable organisations, which the Trustees believe is for the public benefit.
Achievements and performance
a. Main achievements of the Charty
The Trustees made numerous donations to good causes in accordan￿ with its objects during the course of the
year. Donations during the year totalled £73.800 (2023: £60,500).
Financial review
. Going concern
The Charity has minimal fixed costs, with the main Sour￿ of expendtture being grants made to institutions which
can be made at the discretion of the Trustees. Furthermore, the Charity had a healthy cash balance at the year
end. The Trustees therefore feel it is appropriate to prepare the financial statements on a going cOn￿M basis.
b. Reserves policy
The trustees aim to maintain sufficient reserves to ensure that the Trust has funds to cover fixed expenses for at
least 12 months. This level has been maintained throughout the year.
Page 2

THE CASCIA TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
c. Review of the Year
At the end of the financial period, the charity had £2,265,265 (2023 - £1,939,587) of unrestricted reserves. These
are largely held as an investment portfolio, valued at £2,079,037 (2023 - £1,916,355), and cash held at the bank.
The market value of the investment portfolio increased by £110,421 (2023 - £147,787}. The investment portfolio
is professionally managed, and the trustees are confident that the investment portfolio is well positioned for the
long term.
The portfolio generated £74,096 in dividends and interest (2023 £36,910), and the Trustees are satisfied with
this performance.
During the period the charity has received donations including gift aid totalling £237,500 (2023 - £25,000).
The trustees were pleased to be able to continue their grant making program, donating £73,800 (2023 - £60,500)
to charities of different natures.
Structure, governance and management
a. Constitution
The charity was set up by a trust deed dated 16 February 2013 and became a registered charity (no. 1151303)
on 20 March 2013.
b. Methods of appointment or election of Trustees
New Trustees are appointed by selection by the current Trustees of the charity by a simple majority vote. New
Trustees are selected to add their expertise or knowledge to the board of Trustees.
Plans for future periods
The trustees expect the charity in the future to continue to receive donations, make investments and make
grants to other charitable organisations.
Page 3

THE CASCIA TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Statement of Trustees. responsibilities
The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practi￿).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for
each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming
resources and application of resources, including its income and expenditure, for that period. In preparing these
financial statements, the Trustees are required to=
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP (FRS 102).,
make judgments and accounting estimates that are reasonable and prudent",
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity
and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by..
gpkeh Eoffjefiekl
Stephen Rosefield
Trustee
Date: 1511012025
Page 4

THE CASCIA TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Independent Examiner's Report to the Trustees of The Cascia Trust ('the Charity.)
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31
December 2024.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 ('the 2011 Act,).
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 145{5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member
of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confimi that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect".
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
the accounts do not accord with those records,. or
the accounts do not comply with the applicable requirements conceming the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fairf view which is not a matter considered as part of an independent
examination.
I have no concems 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.
This report is made solely to the Charitys Trustees, as a body, in accordan￿ with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's
Trustees those matters l am required to state to them in an Independent examinerfs report and for no other
purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility to anyone other than the
Charity and the Charity's Trustees as a body, for my work or for this report.
Signed..
Dated: 1511012025
lan Saunderson FCA
BKL Audit LLP
35 Ballards Lane
London
N3 1XW
Page 5

THE CASCIA TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Investments
237,500
74.096
237,500
74.096
25,000
36,910
Total income
311.596
311,596
61,910
Expenditure on:
Raising funds
Charitable activities
19.949
76,390
19,949
76,390
18,058
63,070
Total expenditure
96,339
96,339
81,128
Net incomel(expenditure) before net gains on
investments
215.257
110,421
215,257
110,421
(19,218)
147,787
Net gains on investments
Net movement in funds
325.678
325,678
128, 569
Reconciliation of funds".
Total funds brought forward
Net movement in funds
1,939,587
325.678
1,939,587
325.678
1,811,018
728,569
Total funds carried forward
2,265.265
2,265,265
1,939,587
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 17 form part of these financial statements.
Page 6

THE CASCIA TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
Fixed assets
Investments
2,079,037
1,916,355
2.079.037
1,916,355
Current assets
Debtors
Cash at bank and in hand
10
25.000
163.868
25,802
188,868
25,802
Creditors.. amounts falling due within one
year
12,640)
(2, 570)
Net current assets
186.228
23,232
Total net assets
2,265,265
1,939,587
Charity funds
Unrestricted funds
12
2,265,265
1,939,587
Total funds
2,265.265
1,939,587
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
teRkeh Eosefiekl
Stephen Rosefield
Trustee
Date. 1511012025
The notes on pages 8 to 17 form part of these financial statements.
Page 7

THE CASCIA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordan￿ with the Charities SORP {FRS 102)
Accounting and Reporting by Charities.. Statement of Recommended practi￿ 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), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Cascia Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities
are initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accounting policy.
1.2 Going concern
The Charity has minimal fixed costs, with the main source of expenditure being grants made to
institutions which can be made at the discretion of the Trustees. Furthermore, the Charity had a
healthy cash balance at the year end. The Trustees therefore feel it is appropriate to prepare the
financial statements on a going concem basis.
1.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balan￿ of
income received for specific purposes but not expended during the period is shown in the relevant
funds on the Balance sheet. Where income is received in advance of entitlement of re￿ipt, its
recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income is received, the income is accrued.
Income tax recoverable in relation to donations re￿iVed under Gift Aid or deeds of covenant is
recognised at the time of the donation.
1A Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, 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 classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional, such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitment, but not accrued as expenditure.
Page 8

THE CASCIA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
1A Expenditure (continued)
All expenditure is inclusive of irrecoverable VAT.
1.5 Interest receivable
Interest on fijnds held on deposit is included when re￿1vable and the amount can be measured
reliably by the Charity,. this is nomially upon notification of the interest paid or payable by the
institution with whom the fijnds are deposited.
1.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balan￿ sheet date, unless the value
cannot be measured reliably in which case it is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Lossesl on
investments, in the Statement of financial activities.
1.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
1.9 Liabilities
Liabilities are recognised when there is an obligation at the Balan￿ sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or ServI￿S it must provide.
1.10 Financial instruments
The Charity only has finanaal assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the ex￿ptIOn of bank loans which are subsequently
measured at amortised cost using the effective interest method.
1.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Page 9

THE CASCIA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donations
Unrestricted
funds
2024
Total
funds
2024
Donations
190,000
47,500
190.000
47,500
Gift aid
237,500
237,500
Unrestricted
funds
2023
Total
funds
2023
Donations
Gift aid
20, 000
5,000
20,000
5,000
25,000
25,000
Investment income
Unrestricted
funds
2024
Total
funds
2024
Income from investment portfolio
74,096
74,096
Unrestricted
funds
2023
Total
funds
2023
Income from investment portfolio
36,910
36,910
Page 10

THE CASCIA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Investment management costs
Unrestricted
funds
2024
Total
funds
2024
Investment management fees
19,949
19,949
Unrestricted
funds
2023
Total
funds
2023
Investment management fees
18,058
18,058
Anatysis of grants
Grants to
Institutions
2024
Total
funds
2024
Supporting good causes
73,800
73.800
Grants to
Institutions
2023
Total
funds
2023
Supporting good causes
60, 500
60,500
Page11

THE CASCIA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Anatysis of grants (continued)
The Charity has made the following material grants to institutions during the year..
2024
2023
Name of institution
Bamardo's
2,000
3.000
10,000
3.000
2,000
3.000
3,000
2.500
10,000
3.500
8,000
2.500
5,000
3.000
Norwood
Jewish Care
Masorti Judaism
10,000
2,000
Glyndebourne
JCORE
Nightingale Hammerson
New Israel Fund
2,000
2,000
5,000
World Jewish Relief
Trussel Trust
CST
Friends of Louis Jacobs
St Edmund Hall
5,000
Chai Cancer Care
The New London Synagogue
Magen David Adom
St Paul's School
11,250
2,500
3,000
63.500
39, 750
other grants < £2,000 in aggregate
10.300
20, 750
73,800
60,500
Page 12

THE CASCIA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Anatysis of expenditure by activities
Grant
funding of
activities
2024
Support
costs
2024
Total
funds
2024
Supporting good causes
73,800
2,590
76,390
Grant
funding of
activities
2023
Support
costs
2023
Total
funds
2023
Supporting good causes
60, 500
2,570
63,070
Anatysis of support costs
Supporting
good
causes
2024
Total
funds
2024
Governan￿ costs
2,590
2,590
Governance costs are comprised entirely of the Independent examination fee for the year
Supporting
good causes
2023
Total
funds
2023
Governan￿ costs
2,570
2,570
Governan￿ costs were comprised entirely of the Independent examination fee for the year
Page 13

THE CASCIA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Independent examiner's remuneration
2024
2023
Fees payable to the Charity's independent examiner for the preparation and
independent examination of the Charitys annual accounts
2.640
2,570
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL).
Fixed asset investments
Cash held in
investment
portfolio
Listed
investments
Total
Cost or valuation
At 1 January 2024
Additions
Disposals
Revaluations
1,857.442
58,913
1.916,355
1,108,744
1,111,344
2,220,088
11,004.464) (1,163,363) 12.167.827)
110,421
110,421
At 31 December 2024
2,072.143
6,894
2.079.037
Net book value
At 31 December 2024
2,072,143
6,894
2,079,037
At 31 De￿rnber 2023
1,857,442
58,913
1,916,355
Page 14

THE CASCIA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10.
Debtors
2024
2023
Due within one year
Gift Aid debtor
25.000
25,000
11. Creditors: Amounts falling due within one year
2024
2023
Accruals
2,570
Page 15

THE CASCIA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12.
Statement of funds
Statement of funds - current year
Balance at
31
Gainsl December
(Losses)
2024
Balance at 1
January
2024
Income Expenditure
Unrestricted funds
General Funds- all fijnds
1,939,587
311.596
(96.339)
110.421
2.265.265
Statement of funds - prior year
Balance at
31
December
2023
Balan￿ at
1 January
2023
Gainsl
(Losses)
Income Expenditure
Unrestricted funds
General Funds- all funds
1,811,018
61,910
(81, 128)
147, 787
1,939,587
Page 16

THE CASCIA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13.
Analysis of net assets between funds
Anatysis of net assets between funds - current period
Unrestricted
funds
2024
Total
funds
2024
Fixed asset investments
2,079,037
188,868
(2,6401
2.079,037
188,868
{2.640)
Current assets
Creditors due within one year
Total
2,265,265
2.265,265
Anatysis of net assets between funds - prior period
Unrestricted
funds
2023
Total
funds
2023
Fixed asset investments
Current assets
Creditors due within one year
1,916,355
25,802
(2, 570)
1,916,355
25, 802
(2,570)
Total
1,939,587
1,939,587
14. Related party transactions
During the year the charity received £212.500 {2023 £25,000) of donations, including Gift Aid, from
Stephen Rosefield, a trustee. These funds were re￿iVed without restrictions.
Page 17