REGISTERED COMPANY NUMBER: 09664506 (England and Wales) REGISTERED CHARITY NUMBER: 1167231
C R AND I TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
C R AND I TRUST LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 13 |
C R AND I TRUST LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024
TRUSTEES S M Itzinger S Itzinger A Freudenberger REGISTERED OFFICE First Floor 94 Stamford Hill London N16 6XS REGISTERED COMPANY 09664506 (England and Wales) NUMBER REGISTERED CHARITY 1167231 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS BANKERS Lloyds Bank plc 198-200 Marlowes Hemel Hempstead HP1 1BH
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C R AND I TRUST LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 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 December 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).
Reference and administrative information
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
OBJECTIVES AND ACTIVITIES
Objectives and activities for the public benefit
The objects of the charity are the advancement of the Orthodox Jewish Faith and the relief of poverty. The charity carries out its objects by grantmaking.
The trustees have considered the Charity Commission's general guidance on public benefit.
FINANCIAL REVIEW
Financial position
The trustees are satisfied with the results of the year. The charity's income remained consistent with the previous year and the trustees reduced grantmaking. This resulted in a surplus for the year of £6,515 (2023: deficit £23,019).
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £945,881 (2023: £939,366), of which £48,365 were free reserves.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 30 June 2015.
Organisational structure
The power to appoint new trustees is vested in the continuing board. New trustees are appointed based on personal competence, specialist skills and experience. They are inducted into the working of the charity by the current board and are given, in the view of the board, sufficient training to understand the nature of the charity and its working. They are also encouraged to read the Charity Commission's various publications on trustees.
Risk review
The trustees have confirmed that there are no major risks to which the charity is exposed.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 29 September 2025 and signed on its behalf by:
S M Itzinger - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF C R AND I TRUST LIMITED
Independent examiner's report to the trustees of C R And I Trust Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission 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 attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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 accounts to be reached.
E Meyer FCA BSc
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
29 September 2025
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C R AND I TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Investment income 2 150,697 EXPENDITURE ON Raising funds 3 86,532 Charitable activities 4 Grantmaking 54,650 Support costs 3,000 Total 144,182 NET INCOME/(EXPENDITURE) 6,515 RECONCILIATION OF FUNDS Total funds brought forward 939,366 TOTAL FUNDS CARRIED FORWARD 945,881 |
2023 Total funds £ 150,359 67,981 97,320 8,077 173,378 (23,019) 962,385 939,366 |
|---|---|
The notes form part of these financial statements
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C R AND I TRUST LIMITED (REGISTERED NUMBER: 09664506)
BALANCE SHEET 31 DECEMBER 2024
| Notes FIXED ASSETS Investment property 9 CURRENT ASSETS Debtors 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 12 NET ASSETS FUNDS 15 Unrestricted funds: General fund Fair value reserve TOTAL FUNDS |
2024 Total funds £ 1,167,186 449,023 63,848 512,871 (15,483) 497,388 1,664,574 (718,693) 945,881 645,881 300,000 945,881 945,881 |
2023 Total funds £ 1,167,186 471,273 43,563 514,836 (17,420) 497,416 1,664,602 (725,236) 939,366 639,366 300,000 939,366 939,366 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) 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 accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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C R AND I TRUST LIMITED (REGISTERED NUMBER: 09664506)
BALANCE SHEET - continued 31 DECEMBER 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29 September 2025 and were signed on its behalf by:
S M Itzinger - Trustee
The notes form part of these financial statements
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C R AND I TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 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.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.
The valuation of investment properties is inherently subjective, depending on many factors, including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions. Therefore, the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
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.
Income from investments is included in the year in which it is receivable.
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.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Financial instruments
The charity only has financial 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.
Going concern
There are no material uncertainties about the charity's ability to continue.
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C R AND I TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
2. INVESTMENT INCOME
| 2024 Unrestricted funds £ Rents received 90,697 Other income 10,000 Interest received 50,000 150,697 |
2023 Total funds £ 100,359 - 50,000 150,359 |
|---|---|
3. RAISING FUNDS
Investment management costs
| 2024 Unrestricted funds £ Management and letting fees 11,661 Rent and rates 953 Repairs and maintenance 15,222 Light and heat 419 Insurance 2,237 Legal and professional fees 299 Loan interest and finance costs 55,741 86,532 |
2023 Total funds £ - - 7,232 662 1,594 - 58,493 67,981 |
|---|---|
4. CHARITABLE ACTIVITIES COSTS
| Grant funding of activities Support (see note costs (see 5) note 6) £ £ Grantmaking 54,650 - Support costs - 3,000 54,650 3,000 5. GRANTS PAYABLE 2024 £ Grantmaking 54,650 The total grants paid to institutions during the year was as follows: 2024 £ Advancement of religion 21,350 Relief of poverty 16,250 Religious education 7,750 Social Welfare 300 45,650 |
Totals £ 54,650 3,000 57,650 2023 £ 97,320 2023 £ 15,180 42,180 38,280 180 95,820 |
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C R AND I TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
5. GRANTS PAYABLE - continued
| Chasdei Chaim Moishe | 11,000 | |||||
|---|---|---|---|---|---|---|
| The Pesach Project (Chesed Charity Trust) | 7,500 | |||||
| Fairholt Charity Trust | 5,000 | |||||
| Grants below £5,000 | 22,150 | |||||
| Total | 45,650 | |||||
| The total grants paid to individuals during the year was as follows: | ||||||
| Relief of poverty | 2024 £ 9,000 |
2023 £ 1,500 |
||||
| 6. | SUPPORT COSTS | |||||
| Support costs | Finance £ 206 |
Governance costs £ 2,794 |
Totals £ 3,000 |
|||
| Support costs, included in the above, are as follows: | ||||||
| Bank charges | 2024 Support costs £ 206 |
2023 Total activities £ 222 |
||||
| Independent examiner's fee | 360 | 360 | ||||
| Independent examiner's other fees | 1,080 | 960 | ||||
| General expenses | 354 | 708 | ||||
| Legal and professional fees | 1,000 | 5,827 | ||||
| 3,000 | 8,077 | |||||
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
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C R AND I TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
8. AVERAGE STAFF NUMBERS
The average number of staff in the year was Nil (2023 - Nil).
9. INVESTMENT PROPERTY
£
| FAIR VALUE At 1 January 2024 and 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 |
1,167,186 1,167,186 1,167,186 |
|---|---|
The fair value of investment properties has been arrived at on the basis of a valuation carried out by the trustees who have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same location.
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 £ Other debtors 449,023 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Bank loans and overdrafts (see note 13) 9,243 Trade creditors 864 Other creditors 3,936 Accruals and deferred income 1,440 15,483 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 £ Bank loans (see note 13) 718,693 13. LOANS An analysis of the maturity of loans is given below: 2024 £ Amounts falling due within one year on demand: Bank loans 9,243 Amounts falling due between two and five years: Bank loans - 2-5 years 44,983 |
2023 £ 471,273 2023 £ 11,944 220 3,936 1,320 17,420 2023 £ 725,236 2023 £ 11,944 42,179 |
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C R AND I TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
13. LOANS - continued
| 2024 £ Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 673,710 SECURED DEBTS The following secured debts are included within creditors: 2024 £ Bank loans 727,936 The bank loans are secured by legal charges over the company's investment property. |
2023 £ 683,057 2023 £ 737,180 |
|---|---|
14. SECURED DEBTS
15. MOVEMENT IN FUNDS
| At 1.1.24 £ Unrestricted funds General fund 639,366 Fair value reserve 300,000 939,366 TOTAL FUNDS 939,366 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 150,697 TOTAL FUNDS 150,697 |
Net movement At in funds 31.12.24 £ £ 6,515 645,881 - 300,000 6,515 945,881 6,515 945,881 Resources Movement expended in funds £ £ (144,182) 6,515 (144,182) 6,515 |
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C R AND I TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
15. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.1.23 £ Unrestricted funds General fund 662,385 Fair value reserve 300,000 962,385 TOTAL FUNDS 962,385 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 150,359 TOTAL FUNDS 150,359 |
Net movement At in funds 31.12.23 £ £ (23,019) 639,366 - 300,000 (23,019) 939,366 (23,019) 939,366 Resources Movement expended in funds £ £ (173,378) (23,019) (173,378) (23,019) |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Fair value reserve TOTAL FUNDS |
At 1.1.23 £ 662,385 300,000 962,385 962,385 |
Net movement in funds £ (16,504) - (16,504) (16,504) |
At 31.12.24 £ 645,881 300,000 945,881 945,881 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 301,056 301,056 |
Resources Movement expended in funds £ £ (317,560) (16,504) (317,560) (16,504) |
|---|---|---|
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C R AND I TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
16. RELATED PARTY DISCLOSURES
Other debtors (note 11) represents amounts due from related companies under control.
Other creditors (note 12) includes £460 due from a company with a common director.
Interest received from Telcroft Ltd during the year amounted to £50,000 (2023: £50,000) and the loan balance at the year end was £448,609 (2023: £470,859).
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