``` 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`** |||**`Page`**|| |---|---|---|---| |**`Report of the Trustees`**|`1`|`to`|`2`| |**`Independent Examiner's Report`**||`3`|| |**`Statement of Financial Activities`**||`4`|| |**`Balance Sheet`**||`5`|| |**`Notes to the Financial Statements`**|`6`|`to`|`9`| ``` 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`| |---|---|---| ``` 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`| |---|---|---| ``` 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`| |---|---|---| |||`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`**||`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`| |---|---|---|---| ||||| ``` 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`| |---|---|---|---|---|---|---|---| ||||||**`1,507,454`**||| |||||||`Movement`
`in funds`
`£`
**`277,012`**|| |||||||**`277,012`**|| ## **`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`| |---|---|---|---| ||||`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`| |---|---|---|---| ||||`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`| |---|---|---|---| ||||`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`| |---|---|---|---|---| |||||`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 ```