**REGISTERED CHARITY NUMBER: 1164563**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026**
## **FOR**
## **THE KEMACH FOUNDATION**
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
**THE KEMACH FOUNDATION**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 2|
|**Independent Examiner's Report**|3|
|**Statement of Financial Activities**|4|
|**Balance Sheet**|5|
|**Cash Flow Statement**|6|
|**Notes to the Cash Flow Statement**|7|
|**Notes to the Financial Statements**|8 to 9|
**THE KEMACH FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2026**
The trustees present their report with the financial statements of the charity for the year ended 28 February 2026. 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 goal of The Kemach Foundation is to increase the levels of observant Jewish people in the Israeli workforce. Its objectives are achieved by individually addressing financial and academic challenges and facilitating job placement to confront critical issues of social mobility, equal access to higher education and workforce participation.
The objects of the CIO as per its constitution are:
- The relief of financial hardship among Jewish people living or working in Israel and/or elsewhere by providing such persons with education and training and assistance to find employment
- The advancement of the Jewish religion through religious education and higher academic professional and/or vocational education and training.
## **Significant activities**
The charity pursues its objectives by supporting the charitable work of The Kemach Foundation in Jerusalem, Israel.
## **Public benefit**
The Trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.
## **Volunteers**
There were no volunteers during the year.
## **ACHIEVEMENTS AND PERFORMANCE**
## **Charitable activities**
The charity has had a successful year, raising £748,630 (2025: £783,614) in donations and making grants totalling £747,613 (2025: £780,726) to The Kemach Foundation in Israel.
## **Internal and external factors**
There are no specific factors to report.
## **FINANCIAL REVIEW**
## **Reserves policy**
The charity aims to maintain reserves in order that it is in a position to achieve grant making activities at a consistent level and to cover contingencies of additional calls being made upon the charity for support of organisations, institutions or individuals in times of need.
## **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 pursue the charitable objectives of the charity and ensure that the ability to generate sufficient income is maintained to achieve that end.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is set up as a Charitable Incorporated Organisation (CIO) and was registered with the Charity Commission on 25 November 2015. The Kemach Foundation is governed by its constitution.
## **Organisational structure**
The charity must have a minimum of 3 trustees. The trustees meet regularly to manage the business of the charity.
Page 1
**THE KEMACH FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2026**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees**
Apart from the first trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the trustees. Trustees must have regard to the skills, knowledge and experience needed for the effective management of the CIO.
## **Risk management**
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1164563
## **Principal address**
2nd Floor, The Hide 3 Kingly Court London W1B 5PW
## **Trustees**
Mr L Noe Mr S Kanter Sir M L Davis Mr M Abadi
## **Independent Examiner**
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 8 June 2026 and signed on its behalf by:
Mr L Noe - Trustee
Page 2
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE KEMACH FOUNDATION**
## **Independent Examiner's Report to the Trustees of The Kemach Foundation**
I report to the trustees on my examination of the financial statements of The Kemach Foundation ('the charity') for the year ended 28 February 2026 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and related notes.
This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted 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, for this report, or for the opinions I have formed.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since the CIO's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the applicable requirements concerning 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 fair view which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
Mr Aryeh Melinek, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Date: 10 June 2026
Page 3
**THE KEMACH FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2026**
|**2026**
**Unrestricted**
**fund**
Notes
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**748,630**
**EXPENDITURE ON**
**Charitable activities**
3
Charitable activities
**1,707**
Donations to Kemach, Israel
**747,613**
**Total**
**749,320**
**NET INCOME/(EXPENDITURE)**
**(690)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**12,255**
**TOTAL FUNDS CARRIED FORWARD**
**11,565**|2025
Total
funds
£
783,614
1,106
780,726
781,832
1,782
10,473
12,255|
|---|---|
The notes form part of these financial statements
Page 4
## **THE KEMACH FOUNDATION**
## **BALANCE SHEET 28 FEBRUARY 2026**
|**2026**
**Unrestricted**
**fund**
Notes
**£**
**CURRENT ASSETS**
Cash at bank
**12,525**
**CREDITORS**
Amounts falling due within one year
7
**(960)**
**NET CURRENT ASSETS**
**11,565**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**11,565**
**NET ASSETS**
**11,565**
**FUNDS**
Unrestricted funds
**11,565**
**TOTAL FUNDS**
**11,565**|2025
Total
funds
£
13,215
(960)
12,255
12,255
12,255
12,255
12,255|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 8 June 2026 and were signed on its behalf by:
Mr L Noe - Trustee
The notes form part of these financial statements
Page 5
## **THE KEMACH FOUNDATION**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2026**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash (used in)/provided by operating 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**|**2026**
**£**
**(690) **
**(690) **
**(690)**
**13,215**
**12,525**|2025
£
1,782
1,782
1,782
11,433
13,215|
|---|---|---|
The notes form part of these financial statements
Page 6
**THE KEMACH FOUNDATION**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2026**
|**1.**|**RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING**|**RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING**|**RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING**|
|---|---|---|---|
||**ACTIVITIES**|||
|||**2026**|2025|
|||**£**|£|
||**Net (expenditure)/income for the reporting period (as per the**|||
||**Statement of Financial Activities)**|**(690)**|1,782|
||**Adjustments for:**|||
||**Net cash (used in)/provided by operations**|**(690) **|1,782|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.3.25|Cash flow|**At 28.2.26**|
|---|---|---|---|
||£|£|**£**|
|**Net cash**||||
|Cash at bank|**13,215**|**(690) **|**12,525**|
||**13,215**|**(690) **|**12,525**|
|**Total**|**13,215**|**(690) **|**12,525**|
The notes form part of these financial statements
Page 7
**THE KEMACH FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 Charities Act 2011. 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.
## **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.
## **Taxation**
The charity is exempt from 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.
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
## **2. DONATIONS AND LEGACIES**
|Donations|**2026**
**£**
**748,630**|2025
£
783,614|
|---|---|---|
continued...
Page 8
**THE KEMACH FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2026**
## **3. CHARITABLE ACTIVITIES COSTS**
|Charitable activities
Donations to Kemach, Israel
**4.**
**GRANTS PAYABLE**
Donations to Kemach, Israel
**5.**
**SUPPORT COSTS**
Charitable activities|Grant
funding of
activities
(see note
4)
£
**-**
**747,613**
**747,613**
Finance
£
**747**|Support
costs (see
note 5)
£
**1,707**
**-**
**1,707**
**2026**
**£**
**747,613**
Governance
costs
£
**960**|Totals
£
**1,707**
**747,613**|Totals
£
**1,707**
**747,613**|
|---|---|---|---|---|
||||**749,320**||
|||||2025
£
780,726|
|||||Totals
£
**1,707**|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 28 February 2026 nor for the year ended 28 February 2025.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 28 February 2026 nor for the year ended 28 February 2025.
## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||**2026**|2025|
|---|---|---|
||**£**|£|
|Other creditors|**960**|960|
## **8. RELATED PARTY DISCLOSURES**
During the year £748,000 (2025: £783,314) was donated by charities with some trustees in common with The Kemach Foundation.
During the year, £747,613 (2025: £780,726) was donated to the Kemach Foundation in Israel, a charity with one trustee in common with The Kemach Foundation.
Page 9