Charlty numb•r. l 163890 BO8 AND MICHELLE 8HEMTO8 CHARITABLE TRU8T UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 DECEMBER 2024
808 AND MICHELLE SHEIITOB CHARITABLE TRUST CONTEpif8 Pag• Ref•rnnce and AdmlnlBtratlv• Dfrtalls of the Charity, its Tru8t•eB and Ad¥l88rn TnMt••8' R•port Indopgndont ExamlDrf• Report stat•mont of Fln•D¢lal ActSvftl8• B•lanc• Sh••t Not•• to th• Flnan¢l•l Statom•nts 7-14
BOB AND MICHELLE SHEIKfoB CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARI, rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trusts00 R A Shomtob. Trustee M Shemtob, Trustee K Shemtob. Trustee L Kalms. Truste8 S Nagli. Tru8tee Ch*rfty r•gl•t•rnd numb•r 1163890 Prlnelpal offlc• Apartment 54 80 St John's Wood Road London NW8 7HN Accountants Sopher + Co LLP Chartered AcCOuntts 5 E18tree Gate Elstrea W8y Borehamwood Hertford8hir• 1JD Page 1
BOB AND MICHELLE SHEMTOB CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual rew)rt togelhor with the financi81 slatements of the Bob and MKh8lle Shemtob Chafitablo Trust for the year ended 31 December 2024. Obje¢tfve8 and actlvitie8 a. Pollcl08 and obJ•¢tlv In setting objectives and planning for aclNiliès, the Trustees have glven due consideration lo gener81 guidanG• published by the Charity Commission relating lo public benefit. Th8 charitls oblectrves are to adv8n¢e the education and Improvemènt of health through providirKJ 8UPPOrt to projects and funding reseorth which a8SiSts people of all ages who are suffering from any fom of disability (whether physical or mentall, andlor illna88, and their familias, which are Nn ($0 far as is relevant) in accordanca with the tenets of the Jewish religion and th¢ advancement of education through $upportlng educakn'on on Jgwl8h relig)n, history and cultur8. Tho trustees of and Mi¢hell8 Shemtctj Charrtable Trust h8ve compli8d with the duty In 8.4 of the Ch?rits8s Act 2011 to have dué regard lo the public bendlt guidance published by the Charity CommiSs)n in adminstering the Tru$l, in delermSning aGhievemen18 against the alms they had sal for 2023 and in planning activities for 2024. Achl•v•m•nts and p•rlormafft¢• . R•vlgw of •cllvltle• During the year the charity donated amounts totslllng £41,75512023- £42.1801 to in8tfjtulion8. Fln•nclal r•vl•w . Golng ¢onc•rn After making approprlate enqulrks. the Tru8lees hove a re880nable •xp¢ctstlon that the Charity has adequate re¥gurces lo conbnue in operational exi$tsn¢o for th8 forese8able future. For this reason. they continue lo adopt the going e¢)ncern basis in preparing the financial ststemants. Further dolails regarding the 8doplion of the golng concern basi8 can ba found in the accounting polic8. b. Re•ervM poll¢y The Ch8rty h88 In place a reseN88 policy whoreby adequate r85erv88 are maintained tsking into account its an8lysl8 of fvture needs and opportunit1¢$ In its area of operation and having regard to expectati¥ of 11$ futu levels of inccffle and expenditurg. The level of reserves and the re¥ervgs policy are reviewed 8nnually by the Trustees. At the year end the Charity had res8rve8 of £1,256,83712023 - £1,154,563). Structure, 90Mn¢0 and manag•m•nt . Consbtution The charity Is constiluled undèr a Dedaration of Trust dated 28 May 201S. The prindpal object of the charity is to advance the educatn and improvement of health which assists people of all ages who are suffering frorn any form of disabiltty, anivor illne88. and their families. which are run in aOrdanCe wth the tenets of the Jewish relvJion. P4è2
BOB AND MICHELLE SHEMTOB CHARITABLE TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2024 struc, governan and m*nagement (continued) b. Methods of appointm•nt or •l•etion olTrusteeB The managem•nt of the Charity 18 the re8pon8foillty of th8 Trustee8 who arn electod and ctropted undor the le¥ of th& TnJ8t deed. Approved by ordor of thé member8 of t board of Tru¥tees and 81gn¢d on their behalf by.. [v•l RAShe Trustee Dele.. 06105110 15 Pa98 3
BOB AND MICHELLE SHEMTOB CHARITABLE TRUST INDEPENDEKf EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Ind•p8nd•nt Examln•rfs Report to th• Truo1oe8 of Bob and Mkholle Shomtob Ch•rftable Trust IYh• Charfty'l report to tha charity Trustees on my exwninatDn of the accounts of the Charity for th8 year ended 31 D8cembor 2024. RponsIbIlItI•• and B••i¥ of R•port A8 the TTU8te88 of the Charity you are responslblo lor tha preparation of the accounts in xwrdance wilh th& requlrements of the Charikn'e5 Act 2011 I'lhe 2011 A¢V). I roport In r88FeCt of my examlnation of the Ch&ritl8 aco)unts ¢arri&J i>ut under Secti 145 of the 2011 Act and in carrying out my examination I have followwj the applicable DIrectn9 given ty the Ch8dty Commi8¥lon under 8e¢lion 14515llbl of the 2011 Act. Ind•p•ndont ex8mlnef• Stat•mont Your attantlon 18 drawn to tho fact that the Charlty hos prepar¢d the accounts in accordance with Accounting and Reporting by Charities.. Staloment of Recommended Practice applicable to ¢harilies preparing their accounts in accordance wlth the Financial Reporting Stsndard applitsble in the UK and Republic of Ireland IFRS 1021 In preference lo the Accounting and Reporting by Charilies." Statement of Recommended Practice IB8ued on 1 April 2005 whlGh18 referred to in the extant regulation8 but has been wilhdiawn. l und8r8t8nd that th(8 ha8 b6•n done in ordor for the accounts lo provide a true and fair view in accordance with the Generally Accepted Accounting Praclice effKlive fof reporting perh)ds teginning on or after 1 January 2015. I have 0)mpled my eXaminatrt. I confiryn that no matters have come to my attention in connecllon wth the examinatlon giving me cause to bele that in any material re8P8Ct'. accountlng records were not kapt in re8P8Ct of the Charlty as rnquired by Bection 130 of the 2011 Act,. or the o¢counts do not accord wilh tho¥e recrAd8; or the accounts do not CMp with the appllcable requirements ¢onceming the fomi and conterst of a¢Gounts sel out in the Charities IAGcounl8 and Rep)rts) Regulations 2008 other than any quIreMent th91 the accounts glve a 'lrug and fail view which 18 not a matter considèred as P8rt of an independ&nt examination. I have no conc6m8 and hove come acro88 no olhef matters in connectKin with the ex8min8tlon to which attèntlon should be drawn in thi8 report in order to enablg a proper understanding of the account8 lo be reo¢hed. Signed.. H Young Sophèr + Co LLP Chartered Accountants 5 Elslree Gate Elstreg Way Borehamwwd Hertfordshire WD6 1JD Dated.. 09 los Izozs ICAEW Page 4
BOB AND MICHELLE SHEMTOB CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OECEMBER 2024 Unr•strict fund8 20 T¢)tal fund8 2024 Total fvnds 2023 Note Income from: Inva8tments 49,687 49,687 43,267 T(Aal Incom• 49.687 49,687 43,267 Exp•ndltur• on: Charltablo activlli06 48,570 48,0 49,031 Total •xp•ndltur• 48,670 48.570 49,031 Ntrt Incom(9xPend1tur•) b•tore n•t g•ln• on InvMtm•nt• Net gains on Inve8lment8 N•t mov•mont In fund• b•for• oth•r r•¢ognl•od gaIn{lO•1> 1,117 (5, 764) 48,913 43,149 oth•r rncognl••d galn81(10••0•): Galn81{105888) on revaluatlon of fixed 8888t8 101,IB7 101.167 (27,028) N•t movMi•nt In lund• 102,274 102.274 f 6, 121 Roconclliatlon ol fund•: Total funds brought forward Net movement in fvnds 1.104,563 102.274 1,154663 102.274 1, 138,442 16, 121 Total fund• c*rrS•d forward 1,256,837 1,256.837 1. 154,563 The Statoment of Financial Activities indudes 811 galns and108ses recognised in the year. The notes on p8ge8 7 to 14 fom part of thg6e financial ststements. Page 5
BOB AND MICHELLE SHEMT08 CHARITABLE TRUST BALANCE SHEEr AS AT 31 DECEMBER 2024 2024 2023 Note Fix•d 888•ts Inve8trn8nts Curvent •••ts 1,232811 1,126,254 CaBh at bank and In h8nd Creditors." amourts falllng due wilhln one 28,234 31,851 (3.8081 (3,542) 28.309 Total not •N••t• 1,186,837 1, 154,563 Charfty fvnd• Unrestricted fund8 1,266,837 1,154,563 TrJt•l fund• 1.2B6,837 1,154.563 Th8 flnaKLg18talemen18 were 8pprov0d and authori80d for ljsufj by th8 Trusle88 and gned on their bohaif by: R A Sh•mtob Trustee Dal8'. 0&10512•1 Th8 notes on pago$ 7 to 14 fomi part of these fknancial Slatements. Page 6
BOB AND MICHELLE SHEMTOB CHARITA8LE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounllng pollcles 1.1 8a618 ol proparatlon of flnanclal 8t•téments The finanthal statements have been PTepared in a¢c4Ydance with the Charities SORP {FRS 102) - Accounlino and Reporting by Charilies". Ststgment of Recommended Pracb"ee applicable to charitses preparing their accounts in accordance with the FiTbancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effKtyve 1 January 20191, the Financial Reporting Sl8ndard appli¢8ble In th8 UK and Republic of Ireland IFRS 102) 8nd the Charltles A¢t 2011. Th8 financial Statnents have been prep8red to give a and fairf Mew and have departed from the Chariti88 (Accounts and Reports) Regulations 2008 only to the extent required to prowde a Irue and fairf view. Thi8 departure h88 involved folbwing the Charities SORP IFRS 102} published In October 2019 rather Ih8n the Accounting and R8portlng by Charilie8'. Statement of Recommended Practice affactive from l April 2005 whi¢h ha8 8inGe bean withdrawn. Bob and Michelle Shemtob Chavitala Tru8t meets the definition of a publio benefit ontity under FRS 102. 12 Incom• All In¢¢Ane is recognised once th¢ Charty has entitlement to the In¢ome, It 18 probable that the Income will be received and the amount of income re1vable Gan be m8a8ured rellably. Income tax r¢coverablo in rdoln to donallon8 recelved und8T Glft Ahg or deeds of covenant 1$ rgcogni8ed at thg lim6 of the don8ts'0n. Income tax re¢over8ble In relation to Invasknent inGom8 18 recogni8ed al the timo the Intment income 1$ receivable. 1A Expondltur• Expfrndlture 18 recognlsed once there 18 a leg81 or con8tru¢tiv8 obligathon to transfer Konomlc benefit to a third paty. it is probable that a transfer of e¢onomic benofils will be required in selllemenl and the amount of the obligation can be me88ured reliably. Expenditure 15 cla8sified by activity. The costs of activity are made up of the lotsl of direct costs and shared costs, includlng support Costs Inw)Ived in undertaking each a¢lrvity. Direct Costs attributable to a single activty are 8llocated directly lo that activity. Charitable activitles and Govemance costs are co¥ls incurred on the charitys educaliongl operation8. including Support Gosts and costs relating to the govemance of the charty apportioned lo charitable activit. 1.4 Int•r•81 r•c•lvible Inte8t on fiJneJ8 held on dep0811 is included when re¢Vabl? and the amount can be measured reli8bly by Ihe charity.. this is normally upon notification of the intere8t paKI or pay8bl8 by the Bank Pagè 7
BOB AND PAICHELLE SHEMTOB CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountsng pollclo• (conllnued) 1.6 Inve8tm•nts Fixed asset invastments are a forni of financlal In8lnJment and are inilialty r•cognised al their transaction cost and subsequenty me8SLtred at f8ir value at the Balance She8t date. unless the value annot be maasufed reliably in whith case it is mga8ured at cost less impaimi8nt. Investment gain8 and losses, whether r8ali8ed or unfealised. are Com.ned and présented as 'GainsllLo¥ses} on investrnents. in the Statement of Flnancial Activitie8. Inve8tm&nts hgld as fixed assets are shtym) at cost le6$ provlslon for impgiment. 1.6 Cash at bank and In hand Ca¥h at bank and in hand include8 ¢4sh and short-lem highly liqutd inve8tmenl8 vAth a short maturlty of three months or bs8 from the date of acquisition or opening of the depo$il or $Smil8r account. 1.7 Ll•bllltlM and provl•lon• Liabiliti69 are rg¢ogni8ed vthen there 18 an obligalbn 8t Ihe Balanc8 Sheèt date as a resutt of a p83t event, it 1$ probablg that a trgn$fer of eGonomic bendit will be required in $ettlemenl, and the amount of th8 8ettJemenl can be estimated rellably. Li0.tieS ar8 recagnlBed at the amount that th8 Charity anticipates it wlll p8y to 8ettle the debt or th• amount It ha8 reGelvod a8 advanced p8ym8nts for the goods or SeN1 it mu8t provide. Provisions are measured al the b&sl 08timale of the amounts required to setue tha obligation. Where the effect of the time value of money18 malerlal, the provision is based on the pre8ent valLse of those amounts, disGounted at the pfe-t8x discount rate that refle¢ts the ri8k8 8pecifi¢ lo the li?bllty. The unwinding of the dint 18 reGogni8ed in the Statement of Financial Activlile8 88 a fInce cost. 1.8 Flnancl•l In8trum•nt• The Chadty only has fin8n¢ial assets 8nd fin8ncial liabilltie$ of a kind that qualfy as basic financial instruments. Basic financial in8trumfjnts are Initlally re¢ogni8ed at transaction value and sub¥equent measuT8d at their 8ettlemgnt value with the ex¢eption of bank loans which are subsequently measured al amortised cost using the effectNe Interest method. 1.9 Fund •ccountlng General fvnd8 are unre8lricted fund8 whith ere avaiL8ble for use at the discretion of the Tnjstees In furtherance of the general objectives of the Charity and which have not been de¥ignated for other PUryJ08es. Investrnent income, galns and losses are althated to the appropriate fund. Page 8
BOB AND MICHELLE SHEMTOB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2024 Inv95tm•nt Incom• Unmtrktgd fund• 2024 Total fund$ 2024 Dlvldends recdved Bank interest I1Vable 48.872 815 48,872 816 49,687 49.687 Unrn8ttlct8d funds 2023 Tot81 fvnds 2023 Dfvidend8 receNod Bank intwe8t recolvabl& 41,760 1,5Q7 41,760 1,507 43.287 43,267 AThaly•h of •xp•ndltur• on charlt•bl• 8¢tlvlll PmMary by fund typ• Unro•trl¢t•d lund• 2024 Total 2024 Charitabl8 8ctivlti88 48,570 48,670 Unmstrlcled funds 2023 Total 2023 Charitablg aclNities 49,031 49.031 Page 9
BOB AND MICHELLE SHeMTOB CHARITABLE TRUST NOTes TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 An•ty818 of expendlturo by actlvlti•s Actlviti undertaken dlreetly 2024 Support Total nds 2024 2024 Charitable acliv6ti08 41,755 8,815 48,670 Activtsies und&rt8k8n dir8dly 2023 Support Total funds 2023 2023 Charltsble acllvltles 42.160 6,871 49,031 Analy•h of dlr•ct ¢o•t• Ch•rltabl• a¢tlvttl•• 2024 Total fund• 2024 Charltable donation8 41,755 41,766 Ch&nt8ble acllvitles 2023 Total lunds 2023 Charitsble dondon8 42, l+XI 42,160 Page 10
808 AND MICHELLE SHEklTOB CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analyfjil$ of oxpenditur• by activiti•s (contlnu•d) An*ly•l• of #upport costs Charitable •cllvltlos 2024 Total fund8 2024 Accountsncy Inve8thent fund Managnent fe88 Bank Ghar 2,880 3,571 2.880 3.571 6,815 6.815 Ch8rftable activities 2023 Tot81 funds 2023 AccountanGy Inv8stm&nt fund management f•08 8ank charge$ 2, TOO 3,807 2, T¢XI 3,807 364 6.871 6.871 Tru•t•o•' rnmun•rntion and oxp•nM• During the year, no TnJstee8 received any remuneration or other ben8frt8 (2023- £NIL). During the year ended 31 December 2024. no Tru8tee exn983 h8ve b•on incurred {2023- £NIL). Page11
808 AND MICHELLE SHEMTOB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Flxod a•sot In¥Ktmonts Oth•r flxed a88Ot Invo6tmont8 Coot or valuatlon At 1 January 2024 AddItnS Rwalu8tions 1.126,254 s,000 101,157 Al 31 December 2024 1,232A11 N•t book v*lu• At 31 DKomber 2024 1,232,411 At 31 December 2023 1,126,254 Cr•dftor•: Amount• lalllng duo wlthln on• ymr 2023 Accrual8 and deferred income 3,808 3,542 Page 12
BOB AND MICHELLE SHEwfoB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 DECEMBER 2024 Statem•nt of fund Slat•m•nt of fund•- curr•nt yoar Balan at 31 Galn•l DK•mber (Loss•8) 2024 8alanco at 1 January 2024 Incom• ExndIturn Unr•strlct•d fund• 1.154,663 49.687 {48,570) 101,157 1,256.837 8tat•m•nt of lund•- prlor ymr Balance 81 31 G8lnsi Docember (Losses) 2023 8818nce at l Jonu8ry 2023 Income Exp8nditure Unr••trlct•d fund• Re?$ 1,138,442 43.267 (49,031) 21.885 1,154,563 Analy•h of net aD8•t• botwoon fund• Analy8lB of not •800ts b•twwn fund•- ¢urrnnt p•rlod Unro•trlcted fundo 2024 Total fund8 2024 Fd ass81 investm6nt8 Current asgets Creditors due wlthln one year 1,232,411 28.234 13,808} 1,232,411 28.234 (3,8081 Total 1.256,837 1.256,837 Page 13
BOB AND MICHELLE SHEMTOB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 1024 Analysis of not a$60ts botw•en fund• IcoThtinu) An•ty•i• of nét 8•1&ts betw•en fvnd• - prlor P•Tlod Unrnstricted funds 2023 Totel fvnds 2023 Fixed a$sét Inveslments Currant a88ets Creditors du6 wlthln one year 1, 126,254 31,851 (3,542) 1,126,254 31,851 f3,542) Total 1,151,563 1.154.563 Page 14