**REGISTERED COMPANY NUMBER: 09550385 (England and Wales) REGISTERED CHARITY NUMBER: 1163312** **Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 May 2024** **for** **JEG TRUST LIMITED** Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH **JEG TRUST LIMITED** **Contents of the Financial Statements FOR THE YEAR ENDED 31 MAY 2024** ||**Page**| |---|---| |**Report of the Trustees**|1 to 2| |**Independent Examiner's Report**|3| |**Statement of Financial Activities**|4| |**Balance Sheet**|5 to 6| |**Cash Flow Statement**|7| |**Notes to the Cash Flow Statement**|8| |**Notes to the Financial Statements**|9 to 11| **JEG TRUST LIMITED (REGISTERED NUMBER: 09550385)** ## **Report of the Trustees FOR THE YEAR ENDED 31 MAY 2024** 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 31 May 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) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Charitable objectives** The principal activity of the company was that of a charity, with particular reference to the relief of poverty and advancement of the Jewish religion. 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 grant making policy for the period To achieve the objects, the charity uses its income to make charitable donations and grants to Jewish organisations and other charities. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** During the period under review a total of £716,442 (2023: £629,311) was provided in direct assistance of the charity's aims. ## **FINANCIAL REVIEW** ## **Principal funding sources** The principal funding sources of the charity are voluntary donations. ## **Reserves policy** The trustees have been able, and continue to be able, to meet the trust's liabilities as they fall due and they also hold sufficient funds which are unrestricted and available for use to meet the charity's objectives. Therefore, at present, the trustees do not consider it necessary to have a specific reserves policy. ## **Funds** At the period end, total funds held by the charity amounted to £146,294 (2023: £114,020). ## **FUTURE DEVELOPMENTS** 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. ## **STRATEGIC REPORT** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The charity is constituted as a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association and was incorporated on the 20th April 2015. ## **Risk management** The trustees are of the opinion that there are no major risks to which the charity is exposed. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 09550385 (England and Wales) ## **Registered Charity number** 1163312 Page 1 JEG TRusf UMrrED (REGrsrERED NUMBEIL. 09550385) Report of the Trustees FOR THE YEAR ENDED 31 MAY 2024 rst FIc*)r, winstC￿ House 349 Regents Park Road N3 IDH Mr J Gurvits Mrs E Gurvits Mrs Y Davls Independent Examiner Aryth Melinek FCA Melinek ￿ne LLP 0￿rtered Accountants First Fk￿r, Wlnston House 349 Regents Pafk Road London N3 IDH Report of the tru dirthrs, on........ .... ratin strategic repcrt, approved by order of the I￿r￿ of trustee5, as the crmpany and Sigr￿d on the board's behalf ty.. Mrs Ur￿ts- TnJ5tee e2 JndeperKlent Examiner's Report to the Trustees of JEG Trust Llmited (Registered numbw: 09550385) Independent examinels report to the tru$teès of JEG Trust Llmited I'the Company,) I report to the charlty trustees on rny examlnatlon of the accounts of the Cornpany for the year ￿ded 31 May 2024. Responsibilitles and basls of report the charitys trustee5 of the Company land also Its dlredors for the purposes of company law) you A￿ respon￿ble for the preparatlon ol the accounts In accordan￿ ¥vlth the requirements of the Companles Act 2006 {'the 2006 Act'l. Having satisfied myself that the accounts of the Company are not requlred to be audited under Part 16 of the 2006 Act and are ellgible for Independent examinatlon, I report In respett of my examinatfon of your charitys accounts as carried oul under SÉttion 145 of the Charittes Act 2011 I'the 2011 Act'l. In carryÈng out my examinatlDn I have followed the Dlrettlons gfven by the Charlty ComTlliSsion under Settion 14515) (b) of the 2011 Act. Indèpandent examiner's statement Since your charitys qr055 income ex￿eded £250,000 your exarniner musl ￿ a member of a hsted body. I can conflrm that I am qualified to undertake the examinatlon becau￿ I am a Thember of the **ERROR - relevant wofessonal bDdy must be comdeted** whlch is one of the listed LKxlie& A have completed my examlnation. I confirm that no rnatter5 have come to my attent(on in COnnect￿n with t examinatlon glving rne cause to belleve.. accounting records were not kept in respLLt of the Company as requlred by Sectbn 386 of Ihe 21K)6 Art. or the account5 do not accord wlth those records; or the accounts do not comply with thE accountSng requlrements of sectio￿ 396 of the 20&$ Act other than any requlrement that the account5 give d true and fair view which is not a tnatter con51dered as part of an Independent examlnatlon,. or the accounts have not been prepared in accordan￿ with the methods and principles of the Ststernent of Recommended praCts￿ for accounting and repo￿"ng by charities (applKable to charities pieparlng their accounts in accordance wlth the Financlal Reporting Stsndard appllcable in the UK and Republlc of Ireland (FRS 1021). I have no concem5 and have come a￿S no other matters In connection wlth the examlnation to whlch attentlon should be drawn in thls report in order to enable a prO￿r understanding of the atcounts to be rea¢hed. Aryeh Hellnek FCA Melinek ￿ ne LLP Chartered Accountants Flrst Flry)r, Wlnston House 349 Reg￿t5 Park Road London N3 IDH Page 3 ## **JEG TRUST LIMITED** ## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 MAY 2024** |2024
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
750,341
Investment income
3
525
**Total**
750,866
**EXPENDITURE ON**
**Charitable activities**
4
Donations paid
716,442
Charitable activities
2,150
**Total**
718,592
**NET INCOME**
32,274
**RECONCILIATION OF FUNDS**
Total funds brought forward
114,020
**TOTAL FUNDS CARRIED FORWARD**
146,294|2023
Total
funds
£
743,368
525
743,893
629,311
2,399
631,710
112,183
1,837
114,020| |---|---| The notes form part of these financial statements Page 4 JEG TRUST LIMrrED (REGISTERED NUMBEIL. 09550385) Balance Sheet 31 MAY 2024 2024 UnrestrKted fund 2023 Total funds Notes FIXED ASSETS Invesknent prop 31￿50 31.850 CURREpif ASSErs 25,OlXI 112 311 96,641 Cash at bank 137,311 115,036 CREDrroRS AJTh)unts fallirwJ due within ￿e year io (lI,2￿J) (11,200) NEf CURRENT ASSErs TOTAL ASSEfs LESS CiIRREirf LIABILTTIES 157.961 135,686 CREDrroRS Amounts falling due aftw more than one year li (11,667) {21,666) NEfASSErs 114 020 FUNDS Unre51rthd fvnds 114020 TOTAL FUNDS 114020 The tharItab￿ company 15 entrtlej tt) exemption firrfn audit under 477 of the Companles 2(KJ6 for the year ended 31 May 2024. The ￿Mtsers have not reouir&l the company to obtain an audit of Ots financial stat￿￿ts for ￿ year ended 31 May 2024 in accordance with Sxtion 476 of the Compani&s Att 2006. The trust￿ acknowledge their respJrisbllitie5 for (a) ensuring that the charltsble company keeps accountir•J r￿5 that COrnF4y with SettKnS 386 and 387 of the Companies Act 2006 and preparing finanoal ststements which give a true and fair view of the stste of affairs of the charitable o)mpany a5 at the end of each financial year and of ts surplus or deficit for each financial year In accordan￿ with the requirements of Sectw)ns 394 atKI 395 arkl which otherwise comply with the requirements of the Companles Att 2CKJ6 reFating to financial 51atements, so far as applthble to the charTLable comparby. (b) The financial $tst8n￿ts were approv￿ by the Board of Trustees and authorlsed for issue on 8 lune 2024 ., and were signed on Its by: Mr J Gu￿lts- TFUStee E Gurvits- Trustee The rK*5 fom) part of these financlal statements Page 5 continu￿... **JEG TRUST LIMITED** ## **Cash Flow Statement** ## **FOR THE YEAR ENDED 31 MAY 2024** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from financing activities**
Loan repayments in year
Net cash used in financing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|2024
£
103,916
103,916
(10,000)
(10,000)
93,916
18,395
112,311|2023
£
15,541
15,541
(10,000)
(10,000)
5,541
12,854
18,395| |---|---|---| The notes form part of these financial statements Page 6 **JEG TRUST LIMITED** ## **Notes to the Cash Flow Statement** ## **FOR THE YEAR ENDED 31 MAY 2024** |**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|| |---|---|---|---|---| ||||2024|2023| ||||£|£| ||**Net income for the reporting period (as per the Statement of**|||| ||**Financial Activities)**||32,274|112,183| ||**Adjustments for:**|||| ||Decrease/(increase) in debtors||71,642|(96,642)| ||**Net cash provided by operations**||103,916|15,541| |**2.**|**ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS**|||| |||At 1.6.23|Cash flow|At 31.5.24| |||£|£|£| ||**Net cash**|||| ||Cash at bank|18,395|93,916|112,311| |||18,395|93,916|112,311| ||**Debt**|||| ||Debts falling due within 1 year|(10,000)|-|(10,000)| ||Debts falling due after 1 year|(21,666)|9,999|(11,667)| |||(31,666)|9,999|(21,667)| ||**Total**|(13,271)|103,915|90,644| The notes form part of these financial statements Page 7 **JEG TRUST LIMITED** **Notes to the Financial Statements** **FOR THE YEAR ENDED 31 MAY 2024** ## **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. ## **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. For donations and legacies, entitlement is the earlier of the charity being notified of an impending distribution or the donation or legacy being received. ## **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. ## **Allocation and apportionment of costs** Support costs have been allocated to governance costs and comprise costs involving the public accountability of the charity and its compliance with regulations. Governance costs have been allocated to donations paid under charitable activities. ## **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 Statement of Financial Activities. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** All funds are unrestricted and can be used in accordance with the charitable objectives at the discretion of the trustees. ## **Going concern** The accounts have been prepared on the going concern basis. The trustees consider that there are no material uncertainties regarding the charity's ability to continue in operational existence for the foreseeable future, which is deemed to be 12 months from the date of approval of the financial statements. continued... Page 8 **JEG TRUST LIMITED** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MAY 2024** ## **2. DONATIONS AND LEGACIES** |Donations
Gift aid
**3.**
**INVESTMENT INCOME**
Rents received
**4.**
**CHARITABLE ACTIVITIES COSTS**
Donations paid
Charitable activities
**5.**
**GRANTS PAYABLE**
Donations paid|Grant
funding of
activities
(see note
5)
£
716,442
-
716,442|2024
£
723,606
26,735
750,341
2024
£
525
Support
costs (see
note 6)
£
-
2,150
2,150
2024
£
716,442|2023
£
646,727
96,641
743,368
2023
£
525
Totals
£
716,442
2,150
718,592
2023
£
629,311| |---|---|---|---| Donations and grants comprise amounts paid to institutions in accordance with the charity's objects. All donations were paid directly from the charity to the institutions, as follows: |**Name of charitable organisation**|**Total donation (£)**| |---|---| |Keren Habinyan Limited|207,500| |Mercaz Chasidei Wiznitz Trust|100,000| |The Rehabilitation Trust|96,000| |Aniyei Haolam Trust|66,000| |British Friends Of Chatzer Hakodesh Viznitz|40,000| |Kupath Gemach Chaim Bechesed Viznitz Trust|27,500| |Menorah Foundation|18,100| |Beis Yaakov Primary School Foundation|13,400| |Chasdei Sorele|13,000| |Chana Charity Ltd|12,650| |Friends Of Orchos Torah|12,000| |Friends Of Chevron Yeshiva Givaat Mordechai|10,000| |North London Welfare and Educational Foundation|9,000| |Achisomoch Aid Company Ltd|9,000| |Community Concern London|8,133| |Hatzola Northwest Trust|7,200| |Torah Family Support Network Ltd|7,000| |Edgware Yeshiva|6,900| |Chasdei Dov Trust|6,000| |The Work Avenue Foundation|6,000| |Torah (5759) Limited|5,200| |Yeshiva L'zeirim Manchester Charity Trust|5,000| continued... Page 9 **JEG TRUST LIMITED** **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MAY 2024** ## **5. GRANTS PAYABLE - continued** |Other smaller donations|30,859| |---|---| |Total|716,442| ## **6. SUPPORT COSTS** |**SUPPORT COSTS**|||| |---|---|---|---| |||Governance|| ||Finance|costs|Totals| ||£|£|£| |Charitable activities|781|1,369|2,150| ## **7. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 May 2024 nor for the year ended 31 May 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023. ## **8. INVESTMENT PROPERTY** |**FAIR VALUE**
At 1 June 2023
and 31 May 2024
**NET BOOK VALUE**
At 31 May 2024
At 31 May 2023
**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 12)
Accruals and deferred income|2024
£
25,000
2024
£
10,000
1,200
11,200|£
31,850| |---|---|---| |||31,850| |||31,850| |||2023
£
96,641| |||2023
£
10,000
1,200| |||11,200| continued... Page 10 **JEG TRUST LIMITED** **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MAY 2024** |**11.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Bank loans (see note 12)
**12.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years|2024
£
11,667
2024
£
10,000
10,000
1,667|2023
£
21,666| |---|---|---| |||2023
£
10,000| |||10,000| |||11,666| ## **13. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 May 2024. Page 11