REGISTERED CHARITY NUMBER: 1170579
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
FOR
TRACE CHARITABLE TRUST
Xeinadin Swiss Cottage Limited
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH
TRACE CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
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Report of the Trustees |
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Independent Examiner's Report |
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Statement of Financial Activities |
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Balance Sheet |
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Notes to the Financial Statements |
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TRACE CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended5April2025. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableinthe UK
and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
The objects and the aims of the charity are as follows:
1.Forthepublicbenefit(includingbutnotlimitedtocurrentandformeremployeesoftheTraceGroupandtheir relatives
excluding the Trustees and the Trustees relatives)
2. The prevention or relief of poverty
3.Thereliefofthoseinneed,byreasonofyouth,age,sickness,poorhealthdisability,unemploymentoreconomic or
social disadvantage
4.ToadvancetheJewishfaithforthepublicbenefit,bytheprovisionofgrantstoJewishorganisationsestablished for
the advancement of religion, and in particular but not exclusively, Kol Nefesh Masorti Synagogue
5.AdvancingeducationforthepublicbenefitbytheprovisionoftuitiongrantsandawardsforUKresidents from
economically deprived backgrounds so they can pursue higher education at UK universities
6.Theadvancementofanyothercharitablepurposesforthepublicbenefitasareexclusivelycharitableaccordingto the
laws of England and Wales as the trustees may from time to time determine
FINANCIAL REVIEW
Thetotalamountoffundsavailableattheyear-endhasincreasedto£1,507,454(2024:£1,230,442),theincreaseisas a
result of higher donation income received in the year and gift aid income receivable on donations received.
Grossincomeincreasedto£350,158(2024:£156,604)whilstoverallexpenditureincreasedbyasmalleramount, to
£74,369 (2024: £32,590), resulting in a a much improved net income of £277,012 (2024: £124,014).
STRUCTURE, GOVERNANCE AND MANAGEMENT
The day-to-day governance of the charity is under the control of R J Wolfe, one of the trustees.
No donations are made without the prior approval of the other trustees.
Accounts are approved by all trustees.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1170579
Principal address
3 Rochester Terrace
London
NW1 9JN
Trustees
R J Wolfe
Dr G L Kaufmann
J M Murphy
Independent Examiner
Xeinadin Swiss Cottage Limited
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH
Page 1
TRACE CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025
Approved by order of the board of trustees on 9 May 2026 and signed on its behalf by:
R J Wolfe - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
TRACE CHARITABLE TRUST
Independent examiner's report to the trustees of Trace Charitable Trust
IreporttothecharitytrusteesonmyexaminationoftheaccountsofTraceCharitableTrust(theTrust)forthe year
ended 5 April 2025.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandincarrying out
myexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommissionunderSection145(5)(b)of the
Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody.Ican confirm
thatIamqualifiedtoundertaketheexaminationbecauseIamamemberoftheInstituteofCharteredAccountants in
England and Wales, which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwith the
examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts 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.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Anthony Cowan FCA
Xeinadin Swiss Cottage Limited
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH
11 May 2026
Page 3
TRACE CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
2
Other income
Total
EXPENDITURE ON
Charitable activities
Donations Paid
Other
Total
Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
2025
Unrestricted
fund
£
287,499
62,659
-
350,158
67,576
6,793
74,369
1,223
277,012
1,230,442
1,507,454 |
2024
Total
funds
£
100,001
56,503
100
156,604
32,846
(256)
32,590
-
124,014
1,106,428
1,230,442 |
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The notes form part of these financial statements
Page 4
TRACE CHARITABLE TRUST
BALANCE SHEET 5 APRIL 2025
Notes
CURRENT ASSETS
Debtors
5
Investments
6
Cash at bank
CREDITORS
Amounts falling due within one year
7
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
8
Unrestricted funds
TOTAL FUNDS |
2025
Unrestricted
fund
£
72,500
1,395,322
41,132
1,508,954
(1,500)
1,507,454
1,507,454
1,507,454
1,507,454
1,507,454 |
2024
Total
funds
£
15,000
1,100,247
118,314
1,233,561
(3,119)
1,230,442
1,230,442
1,230,442
1,230,442
1,230,442 |
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ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon9May2026and were
signed on its behalf by:
R J Wolfe - Trustee
The notes form part of these financial statements
Page 5
TRACE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Charities
Act 2011. The financial statements have been prepared under the historical cost convention.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
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.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
Dividends received
Interest on investment funds |
2025
£
62,475
184
62,659 |
2024
£
56,038
465 |
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56,503 |
3. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended5April2025norfortheyear ended
5 April 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024.
continued...
Page 6
TRACE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
Other income
Total
EXPENDITURE ON
Charitable activities
Donations Paid
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
5.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Gift aid receivable
6.
CURRENT ASSET INVESTMENTS
Listed investments
Unlisted investments |
2025
£
72,500
2025
£
1,375,322
20,000
1,395,322 |
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Unrestricted
fund
£
100,001
56,503
100
156,604
32,846
(256)
32,590
124,014
1,106,428
1,230,442
2024
£
15,000
2024
£
1,080,247
20,000
1,100,247 |
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continued...
Page 7
TRACE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are
Unrestricted funds
General fund
TOTAL FUNDS |
as follows:
Incoming
resources
£
350,158
350,158 |
At 6.4.24
£
1,230,442
1,230,442
Resources
expended
£
(74,369)
(74,369) |
|
2025
£
1,500
Net
movement
in funds
£
277,012
277,012
Gains and
losses
£
1,223
1,223 |
2024
£
3,119
At
5.4.25
£
1,507,454 |
2024
£
3,119
At
5.4.25
£
1,507,454 |
2024
£
3,119 |
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1,507,454 |
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Movement
in funds
£
277,012 |
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277,012 |
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8. MOVEMENT IN FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
At 6.4.23
£
1,106,428
1,106,428 |
Net
movement
in funds
£
124,014
124,014 |
At
5.4.24
£
1,230,442 |
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1,230,442 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
156,604
156,604 |
Resources
Movement
expended
in funds
£
£
(32,590)
124,014
(32,590)
124,014 |
Resources
Movement
expended
in funds
£
£
(32,590)
124,014
(32,590)
124,014 |
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|
|
124,014 |
continued...
Page 8
TRACE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
At 6.4.23
£
1,106,428
1,106,428 |
Net
movement
in funds
£
401,026
401,026 |
At
5.4.25
£
1,507,454 |
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1,507,454 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedintheabove are
as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
506,762
506,762 |
Resources
expended
£
(106,959)
(106,959) |
Gains and
Movement
losses
in funds
£
£
1,223
401,026
1,223
401,026 |
Gains and
Movement
losses
in funds
£
£
1,223
401,026
1,223
401,026 |
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401,026 |
9. RELATED PARTY DISCLOSURES
During the year, £230,000 (£85,000) of donations were received from a trustee of the charity.
Page 9