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← Smd Foundation

2023-11-30-accounts

COMPANY REGISTRATION NUMBER: 9881780

CHARITY REGISTRATION NUMBER: 1167956

SMD Foundation e

Company Limited by Guarantee Unaudited Financial Statements 30 November 2023

HAFFNER HOFF LTD

ACCOUNTANTS 2ND FLOOR - PARKGATES BURY NEW ROAD PRESTWICH MANCHESTER M25 0TL

SMD FOUNDATION COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 30 NOVEMBER 2023

Contents

Trustees' annual report (incorporating the director's report) 03 Independent examiner's report to the trustees 04 Statement of financial activities (including income and 14 expenditure account) Statement of financial position 24 Notes to the financial statements 26

Trustees

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 November 2023.

Reference and administrative details

Registered charity name SMD Foundation

Charity registration number 1167956

Company registration number 9881780

Principal office and registered

77 Windsor Road Prestwich Manchester M25 0DB

The trustees

David Salzman Simon Salzman Mrs M C Huppert

Independent examiner

Mr Howard Schwalbe ACA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL

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Structure, governance and management

SMD Foundation is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 20 November 2015 as a company and the company number is 9881780. It was registered as a charity on 30 June 2016 with a charity number 1167956. Recruitment and appointment of new trustees would be in line with the Memorandum and Articles of Association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation. There is no chief executive officer. The day-to-day affairs are undertaken by Mr Simon Salzman on behalf of the trustees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees.

There are no policies for the induction or training of new trustees.

Risk Review

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Risk review

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.

The risks faced by the trust are principally operational risks from ineffective grant making. These risks are managed by the trustees researching potential beneficiaries before granting donations.

Report back and review procedures strengthen these safeguards to ensure public benefit is achieved from all grants.

Objectives and activities

The objects of the charity are: (1) For the public benefit to promote the education of people of all ages around the world in such ways as the charity trustees think fit, including awarding to such persons scholarships, maintenance allowances or grants; or by grants to charities or other organisations worldwide that provide education; (2) The prevention or relief of poverty or financial hardship anywhere in the world by providing: grants or loans to individuals in need and/or charities, or other organisations working to prevent or relieve poverty or financial hardship; (3) To advance the Orthodox Jewish religion worldwide for the benefit of the public in accordance with the principles of the Code of Jewish Law (Shulchan Aruch).

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Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.

Grant making policy

The charity is funded by donations and investment income. The charity gives out grants in line with the above objects.

There were no grants paid to individuals during the year.

Grants made during the year to institutions are as detailed in the accounts.

The application of the funds by way of grants to either institutions or individuals and is almost always to institutions.

The trustees consider they have met the public benefit test and outline these achievements below.

The trustees measure the success of achieving the stated aims by the number and value of grants paid out for each object. The grants paid out in the year are detailed in the notes to the accounts and the trustees consider they have met their aims successfully this year.

The trustees consider the shorter-term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

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Chair's Statement - Mr David Salzman

"I am incredibly proud of the strides SMD Foundation has made this past year. Our commitment to education, poverty alleviation, and community support continues to grow stronger. In particular, our aspiration for the new project - Hope For Teens - has already positively impacted the lives of 30 young ladies, providing them with the support they need to overcome significant challenges. As we look ahead, we are excited to aim to triple our impact in the coming year. I deeply believe in the importance of helping vulnerable young women get ahead in life, empowering them to fight their own drawbacks, stigmas, and fears. By equipping these young women with the tools and confidence to overcome their past struggles, we are giving them the opportunity to build a brighter, more fulfilling future."

Mission Statement

The SMD Foundation transforms lives by enhancing mental and physical wellbeing, empowering vulnerable youth, and providing financial support to those in need. We create opportunities that foster resilience and personal growth, ensuring individuals have the resources for a brighter future. The new program, Hope For Teens, focuses on teen girls in crisis, offering programs that address their emotional, educational, and social needs to empower them to overcome challenges and thrive.

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Strategic Aims of SMD Foundation:

Empowering Vulnerable Youth:

Our goal is to empower young individuals, particularly those facing significant challenges, by providing them with the tools, education, and support needed to overcome obstacles and achieve personal success. This includes comprehensive programs designed to build confidence, develop skills, and create opportunities for them to thrive.

Enhancing Mental and Physical Wellbeing:

We are committed to improving the mental and physical wellbeing of individuals in our communities. Through targeted interventions, access to quality healthcare, and supportive environments, we aim to address mental health challenges, promote healthy lifestyles, and reduce barriers to wellness.

Financial Support and Relief:

We strive to alleviate financial burdens for those in need, offering grants, and direct financial support to help individuals and families overcome economic hardships. Our aim is to provide a safety net that allows recipients to focus on personal growth and stability without the overwhelming stress of financial insecurity.

Aims

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These aims reflect a comprehensive approach to improving lives, fostering resilience, and enabling success across various dimensions of wellbeing and empowerment.

The charity received £329,965 in donations during the year. The charity paid out £73,187 by way of grants and support costs. These grants were made in line with the stated objects of the charity and relate to religious purposes, educational purposes as well as relief of poverty purposes.

The charity also received £82,960 in investment income during the year as well as investment management costs amounting to £27,292.

The charity incurred governance costs comprising professional fees. All other office costs are borne by a local benefactor and the trustees wish to record their appreciation to the benefactor for the free use of their offices.

There were no material fundraising costs during the year.

Related party transactions are disclosed as applicable in the notes to the accounts.

There was an overall net income and net movement in funds for the year amounting to £312,446.

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Financial review

Investment performance

The investments of the charity have provided a gross return of 5% in the year. This is acceptable when compared to returns from bank deposits for which returns are far lower and do not take into account any capital growth potential.

The trustees consider this acceptable when compared with returns available on deposits in any of the banking institutions. These property investment returns are not at the expense of any exposure of loan to value covenants that would put these investments at risk. Additionally, the trustees hope that the shares will rise in value in the future.

Reserves policy

The unrestricted fund represents the unrestricted funds arising from past operating results.

The trustees are satisfied that the balance of the fund is an acceptable level of reserves given the nature of revenue receipts against grants payable. In considering the limited financial obligations of the charity, the trustees have resolved to maintain a minimum reserve roughly equal to the net current assets of the charity.

The trustees have considered the fair value of the investment property taking into account the loan to value of the properties as well as the nature and exposure of the syndicate properties. The trustees consider the holding value to be the fair value.

The trustees are delighted to have made many valuable contributions to the community as a result of this income and hope to be able to do so for many years to come.

The free reserves, represented by the net current assets, of the charity amounted to £43,323, all of which are unrestricted.

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Plans for future periods

Hope For Teens Program

Hope For Teens is dedicated to supporting teen girls facing various challenges, such as personal difficulties, trauma, and homelessness. SMD Foundation has supported and continues to support this project by facilitating the establishment of and maintenance of key programs.

Key programs include:

Residential Program: Offers a stable environment for teens without a secure home. Mentoring: Provides one-on-one support through mature role models.

Health & Wellbeing: Incorporates outdoor activities, soft skill learning, group peer mentoring and highly specialised therapeutic services. Educational Support: Offers workshops and career guidance to foster academic and personal growth.

Our Core Values

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Empowerment

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Compassionate Support

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Community Impact

COMPANY REGISTRATION NUMBER: 9881780 CHARITY REGISTRATION NUMBER: 1167956

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Looking Ahead

SMD Foundation, through its visionary initiative Hope For Teens, is on an exciting journey to dramatically expand its impact and reach even more teens in need. With a bold and hopeful vision for the future, we are committed to evolving and enhancing our programs to ensure that no young person is left behind. Our focus is on breaking down barriers to access, providing essential services that are often out of reach for vulnerable teens, and creating a comprehensive support system that addresses their emotional, educational, and social needs.

We are driven by the belief that every young person deserves the opportunity to thrive, and we are dedicated to opening doors to brighter futures. By expanding educational opportunities, we aim to equip teens with the skills and knowledge they need to succeed in life, empowering them to overcome challenges and pursue their dreams. Our nurturing environment will continue to be a cornerstone of our approach, offering a safe space where teens can heal, grow, and build the resilience needed to face life's hurdles.

As we look ahead, our vision is clear: to touch more lives, inspire hope, and be a catalyst for lasting change. Hope For Teens is not just a program; it is a movement that embodies the spirit of transformation, resilience, and unwavering support.

We are excited to be on this journey, and we are committed to making a profound difference in the lives of teens, helping them to rewrite their stories and achieve their fullest potential. We are reaching out to other charities and community bodies to help us achieve this exalted vision. Together, we will build a future filled with hope, opportunity, and limitless possibilities. The trustees' annual report and the strategic report were approved on 20 August 2024 and signed on behalf of the board of trustees by:

David Salzman Simon Salzman Trustee Trustee

COMPANY REGISTRATION NUMBER: 9881780 CHARITY REGISTRATION NUMBER: 1167956

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Independent examiner's statement

I report to the trustees on my examination of the financial statements of SMD Foundation ('the charity') for the year ended 30 November 2023.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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.

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 I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

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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:

  1. Accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. The financial statements do not accord with those records; or

  3. The financial statements 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

  4. The financial statements 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.

Mr Howard Schwalbe ACA Independent Examiner

2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL

20 August 2024

statements 2023 2022 Unre8tricle funds Tolalfunds Total funds Noto Income and endowments Donations alld legacies Investment in¢ome 329,965 82.960 329.965 82,960 179,617 64.310 Totsllncome 412,925 412.92S 243.927 Exp•ndltur• Expenditure on ralsingfunds: Investment management costs Expenditure on charitable actiwties 27,292 73.187 27,292 73,187 46.241 93.114 Totsiex￿ndlturO 100,479 100,479 139.355 N•t Incom• ond not m0￿ment In fund8 312,446 312,446 104.572 R8¢onclllatlon olfund8 Total lunds brought loward 726,518 726,518 621.946 Totalfunds carrled forMrd 1,038.964 1,038,964 726.518 The 8tat8m8nt ol linancI81 acllvllles Includes all galn8 and108888 recognised In the year. All income and expenditure derive Irom contlnulngActMti8s.

2023 2022 Investments 15 1,58S119 1,398,236 Oebtors C88h 8t bank and in hand 16 30.904 88.870 20.600 64.242 119.T14 64,842 Crndltor•: amountsfall1ngdu•￿sn on• y•ar 17 76.451 69,094 41323 15,748 Totsl au•ts laBaourr•rt tiobiiiti•• 1,621442 1.413,984 Cr•dltor•: amounta falllngdu• after morethonon•y•or 18 589,478 687.466 1.03&964 72&518 Fund•ofth• oharfty Unrestricted funds 1,038,964 726,518 Tot•1 ohorttyfvnd• 19 1,03&964 726.518 Forthe yaar 30 November 2023 tha charty was entitled to èxèmption from 8udrt under sectlon 477 of thè Companlès 2006 raiatiryto Srn8llcomp8nles. Oirectors, r09ponsI￿l1t&O8'. Th8 members have not Tequlred the cornpany to obtaln an audrt of tts flnanclal gtstements lor the year In que5tlon In accor(lanc8%Mth sectlon 476: The direclor8 ackrK)wledge their re3ponslbilrtle3 for cornplylng whh ihe requiremen13 ol the kt wlth respect to accountir4 record¥ and ihe prepar8llon of fina￿1￿1 st8ternents. Th$$è fin8nci81 st8tement$ beèn prÈpared in &ccord8nc$ smth thè provlsions appbcable tts companiès subjèctto thè smaLicomp8nles' rn&mè. These linanci81 ststernents were approved bythe FA)ard of trustees and 8Uthori8ed for issue on 20 Augu3t 2024 and 8r8 8igned on behalf of the IK>ard try: S Saizm•n Trusteo

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 77 Windsor Road, Prestwich, Manchester, M25 0DB.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation: The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern: There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported besides the valuation of fixed asset investments at the year end. Fund accounting: Unrestricted funds held by the charity are funds that can be used in accordance with the charitable objects at the discretion of the trustees.

Incomin resources g

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits

associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

COMPANY REGISTRATION NUMBER: 9881780 CHARITY REGISTRATION NUMBER: 1167956

Resources ex ended p

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

· Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

· Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

· Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

COMPANY REGISTRATION NUMBER: 9881780 CHARITY REGISTRATION NUMBER: 1167956

Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

Investment property

Investment property 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 income or expenditure.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

COMPANY REGISTRATION NUMBER: 9881780 CHARITY REGISTRATION NUMBER: 1167956

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

COMPANY REGISTRATION NUMBER: 9881780 CHARITY REGISTRATION NUMBER: 1167956

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

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COMPANY REGISTRATION NUMBER: 9881780 CHARITY REGISTRATION NUMBER: 1167956

Trustees

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 November 2023.

Reference and administrative details

Registered charity name

SMD Foundation

Charity registration number 1167956

Company registration number 9881780

Principal office and registered

77 Windsor Road Prestwich Manchester M25 0DB

The trustees

Mrs M C Huppert David Salzman Salzman Salzman

Independent examiner

Mr Howard Schwalbe ACA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL

COMPANY REGISTRATION NUMBER: 9881780 CHARITY REGISTRATION NUMBER: 1167956

Where investments in shgres are publicly traded or their fair value can othetwse be measured reliably, the investment is subsequently measured at f8ir value wtth changes in f8ir value recognised in Income 8nd expendrturè. Allother such i￿eStMentS are subsequently measured atcost less impairment. Other financial instruments, including derivatNes. are initially recognised at fair value, unless payment for an 8ssel is delerred beyond normal busines8terms orthnanced at a rate of interestth8t IS rK)18 mgrket rate. in which case the asset is measured at the present value of the future paymants discounted at a ma￿et rate of interestfora 3imiiardebt instrument. her financi81 Instruments are 3ubyequently me88ure(l at f8ir value, wth ch8nge8 rec￿niSed in the gtatement of finaKl81 act￿rties, wrth tha exception ol hedong instrumants In g dèsignatad hedg1ng relationship. Flnancial assets that are measured 8t cost or amortised cost are re￿eWed for objective ewider￿e of impaim)ènt at thè ènd of each reporting datè. If thara is objactwe èvidènce of impaimènt. an imp8irmant loss18 recognlsed under th8 appropriate heading in the statemerrt of flnancial activlti83 in whlch the inltial g8in wa8 recogni5ed. For 811 8quty Instruments rEgardlèsg of signiflcÈnce, and tsthÈr finan¢i81 8$$ets ih81 Arè Individually Signrficant, these are Bssessed indNidually for impairment. Other financial assets ara erthèr assèssed indlvidually or grouped on the basis of slmllar credit risk ch8r8clerl3tics. Any mer881$ of Imp81rffÈnt are recognlsed Imme(Jlely. to the extort ih81 the revers81 doe$ not result In 8 Carwng amount of the flnancial a898t that exceeds what the Car￿ng amount would h8ve bèen had thè mp8iment not prevlou8ly been recognised. Umtt•d by gu•r•nl SMD Found8lon 1$ a re&stered charity aThJ 8 ¢omp8tYy Umlted by guarantee that does hove any shore ca￿tal. In the evenl of th8 charfty b8ing wound up, rNmbar8 ar8 r8quir8d to contribute an Bmount Th)t exceedir4 £10. D¢)n4tlon? and l•yd•• Unrestricted Tol•l F￿d Un￿StrIcted Totsl Funds Funds 2023 Funds 2022 t)onatlons 329,965 329,965 179,617 179,617 Unrestricted Totsl F￿d¥ Funds 2023 Unrestricled Totsl Funds Funds 2022 Incomèfrom investment pro￿rth&S 82,960 81960 64.310 64310

Unrèstrictèd Total Funds Fundg 2023 Unrèstricted Funds Totsl Funds 2022 Propety repaSrs and maSntenance charyes 27,292 27292 46,241 46,241 Exp•n(thtur• on ¢h•rit•b1•a¢tiviti￿hYfUnd typ• Unrestricted Total Fund$ Funds 2023 Unrestricted Funds Totsl Funds 2022 Ch8titable gr8nt$ Start the Day Supportcostg 39.614 4.970 28,603 39,614 4,970 28,603 78.747 3,133 11,234 78.747 1133 11,234 73.187 73.187 93,114 91114 Exp•nthuM on ¢horStsb1•a¢tivSti￿tyQthtytyp• Activlties undgrt8k8n Grantfundlng dIre￿lY ol Support co￿$ T¢)taiknd• 2023 Total fvnd 2022 Ch8rit8b19 grant Start the 08y Governance c08tg 39.614 23,213 61827 4,970 5,390 87.787 1133 2.194 4.970 5,3 4,970 39,614 28,603 71187 91114 10. An•ly•l• of •uppwtoo•ts Analy815 of supwrt costs T¢>ts12023 Tota12022 Genergl office Go￿rn9n¢* costs 23,214 5,389 21214 9.039 1195 28,603 11.234

  1. Anal￿1* ofyant• 2023 2022 Grants to In•tltulloM Bederech Kovod Bels Yaakovlewsh High Sch￿1 Choimel Dalim Gateshead Talmudical College Grants under £1.OC Kèsser Charrtl8S Lubakitch Schools Othèr chBrltablè grants Tschabe Kollel The Mentoring Centre Yesoidei Hatorah School J,072 6.000 5,000 6,600 2.000 16.750 1000 11906 10,000 1,250 7,386 4.800 2.500 33.847 1.250 39,614 78.747 Totsl grants 39,614 78.747 11 Ind•p•nd•nt •xamSnation t••9 2023 2022 Fees p8yable tothe independ&nt examinerfoi: Independènt 8xsrnina￿oft ofthe flnancbal statèment8 1,440 1,440 The total 8talf costs and emplo￿8 benefils forth8 reportlngpertod are analysed as follows: 2023 2022 Wag83 and 5aLad8s 1061 The ever8ge he8d count of employees duringtheyearw88 112022: NIII. No employee recew employee beneffts of more than £60,000 durlnetheyear12022.. NIII. 1& Tru•ts• r•munwatkn and ￿P￿s•• No remuneration or other beneffts from eMplo￿nent the charty or a rebted ontty V￿re receNed by the trustees.

  2. Inv•stThnt¥ prop¢rtl*$ At 1 Decemb8r2022 ditions 1,398.238 186,883 At30 Nav•mb•r2023 1,585.119 Imp81m￿nt At 1 Dec•rnb•r2022and 20 Nowmb•r2023 Carying8mount At30 Nov•mbor2023 1.5es,119 At30 No¥en￿r2022 1.398,236 All Irvestsnentg shown 8t)ove oro held atvgluatyon. Inv8￿m•￿t wop6r1188 repro88nt $8ven wholly ow•d prop8rt188. thr88 of whlch were purchasod Sn th8 y88r, th8t are recorded 8tf8lrv8lue Intheoplnion ofthetrustee8 Btth8 tsalar￿e sh8etdats. l& D•btorn 2023 2022 (kn8Tdobtor8 30,904 20,600

  3. CMthor•:•mow)tsl•iUr4du• wlthln•n• 2023 2022 88nk108n5 wd overdraft8 Trade creditor$ Accruals 8nd deferred itKome Oth8rcreditors 4777 21633 1520 46,521 13,539 2,520 53.035 74451 69,094 B8nk 108n8 8nd overdr8ft8 are secured on the Irwe8tment propetyof t￿ch8rty.

1& Cradrlor8: •mountstallir¥ du•aftar mor•thon oney￿r 2023 2022 Bank loans 8nd overdr8fts Loan5 362.083 227.395 380,340 307,126 589,478 687.466 Bank 108n8 8nd ov8rdr8fts are 8ecured onth8 Investment property ofth8 ch8rty. 19. Anal￿￿0( oh•rrlabl• lurxl Unr••triot•d fund• AI01 Dec 2022 At30 Nov 2023 come Expondrture Gènarblfund? 726,518 412.925 1100,4791 1.038.964 At01 Dec 2021 At30 Nov 2022 Income Expenditure G•ner8lfund8 621,946 243,927 1139.3551 726.518 20. An•lyd•of n•t ajwts bottvwnfund• Unrestrlcted Total Fund• Funds 2023 Investments Currant assets Credltors lessthan l year Credltors greer then 1 year 1,585.119 119.774 176.4511 1589,4781 1.585.119 119,T14 176,4511 1589,478) N•t 4M•t• 1.038.964 1,038,964 Unre8trlcted Fund9 Totsl Funds 2022 Inv85tments Current assets Credltors les$th8n 1 year Creditors greater than 1 year N•ta38•18 1,398.236 84.842 169,0941 1687,4661 1.398.236 84,842 169,0941 1687,4661 726.518 726.518

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Related parties

Mr Simon Salzman and Mr David Salzman, trustees of SMD Foundation, are also directors and shareholders of the following companies:

Donations to SMD Foundation during the year include amounts totaling £282,166 received from some of the above-named companies.

Mrs Rosa Salzman, wife of Mr David Salzman, trustee of the charity is also a director and shareholder of Bird ITH Cottages Ltd and Coppice Estates. During the year, Bird ITH Cottages Ltd and Coppice Estates together donated £16,806 to the charity. In a previous year, Bird ITH Cottages Ltd lent £3,237 to SMD Foundation on an interest free basis. This was repaid during the year, and the charity is now owed £3,660 by Bird ITH.

In a previous year SMD Foundation borrowed from some of the above-named companies aggregated to the value of £304,871 on an interest free basis. The balance of the outstanding loans at the year-end is £208,756.

SMD Foundation is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

COMPANY REGISTRATION NUMBER: 9881780 CHARITY REGISTRATION NUMBER: 1167956

SMD FOUNDATION

UNAUDITED FINANCIAL STATEMENTS

30 NOVEMBER 2023

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