KlallhazoD Limited {Lirnited by Guarantee) Company nLunber 10832208 Charity number 1177390 Trustees, Report And Financial Staiements For th¢ year ¢nd¢d 31 December 2024 Kl•l-Chazon Llmited Cont¢nts Page Legal and adtninistrdtive inforniation Trngtees. Report Independent Examiner'8 Report Ststement of Financial Activities Balan¢e Sh¢¢t Cash Flow Statement Notes Éo the Financia] Statements 9-12 Page I Klal-Ch4zon Llmlted Legal and adminijtrative information DirectDf8 l Trnstees Jerome Ornionde Jonathan R(x)dyn Neil Schiff Key Mattagement Perwnllel Shirnshon Silkin Registered Office Mount¢liff House 154 Brent Streel LoDd¢)n NW4 2DR Details of IDcorporation The Company was illCOEporated on 22 June 2017 in England under company registration number 10832208, and was registered with the Charity Commission on l March 2018. govemed by its Metnoraudurn and Article5 of Association, charity nU￿ber 1177390. Bankers National Westminster Bank PIC 21 Golders Green Road London NWII 8EB Page 2 Kjal-chazon Llmited TThstees' Report for the year ended 31 December 2024 The Trustees, who are also Directors of the Chority for the purposes of ihe Companies Ael submit this report and fjnaneial statement8 of Klal-chazon Lirnited (the Company) for the year ended 31 December 2024. The Trnstees confirni that the annual report and financial statements of thc Company comply with current statutory requÈrements, the requirements of thc Company'8 govcrnkng document and the provisionsof the Stat¢ment of R¢wmmended Practic¢ (SORP)"Ac¢ounting and R¢portingby Clwitl¢8" issued in 2015. Str￿cture, Govtrnanee and Finante The Company was incorporated oll 22 June 2017 as a Cotnpany limited by guaraTLtee and registered as a charitable organisation on l March 2018. Prior to this dkte Kl81-Chazon existed a8 a division of Jewish Future5 Tru%t. The TNstees. who are also the Director8 for the purpose of company law. at]d who served during the year were Jerome Omionde. Jonaihan RoLxlyn and Neil Schiff. None of ihe TrnS￿es have any beneficial interest in the Company. Jewish Fu￿r¢S Tn￿t Limited (JFT) is the parent undettsking of the Company and at present guarantees to contribute £1 in the event of a wI￿ding up. Jewish Futum Trnst provides central head oifice qervices lo Klal-ciiazon and JFT'S other subsidiary ¢haritie5 at ¢ost, to enable the group to benefit from gnornies of wal¢. It ¢ncourag¢s group ¢hariti¢s to use the resources of sister Charities to benefit fr(Trm th¢ir exp¢rtis¢, in fvrth¢rdn¢¢ of ¢￿h other's charitable obje¢tives. The managern¢nt of the Company 18 the re5p(Trnsibility of the Trustees who elected and co-opted under the terms of the Articles of Association. The llUTnber of ttustee5 shall not be subject to any but shall not be less than two. The appointment al￿ training of a new trnstee is subject to the oversight of cumt Trnstees. There are no specific restrictions imposed by the governing document concerning the way the Charity can operate. About 15 volunteers support the Charity and help to deliver some of its charitable progromme$ and activities. Cbarity's Obje¢tives and Activities Klal-chazon was e5tabli5hed to provide educational, religious and cultural activities to enhance the association of Jewish youth with their religion and heritage. Athievements Performattee During 2024 rhe Charity organised a full range of programmes, activities and tyips both in the UK and to European destinations. Thi8 included a range of new educational programmes. In the Summer major trips wcre organiyd for 8tudenr participants to France and 18fdel. The Charity maintains ¢onta¢t with whools, 8ynagogu¢$ and l(>oal organi82tions to deliver a range of s¢minars, ¢v¢nts and activities to deliver inspiring learning exp¢n¢nces for members of the public. Page 3 Kl#l-Ch4zDn Limited Tru8tEes' Report (continued) Fundr*lslllg Klalcbazon'g fundraising is principally from Trusts and Foundations ond individuals, particularly from people ororganisations who have an appreciation of the benefits amd obj¢ctives of th¢ Chority's activities and have wished to show their support. Klal-chazon does not engage in large scale fundraising aciivities like mass mailings, telephone fund raising or door-to-door campaigns. Klal-chazon does not employ a professional fijndraiser nor engage the services of any third-party organisations to belp r&is¢ funds. To this end the Tru$t¢e$ have not cotLqidered it necessary to sign up to any regulatory code of fundrJising practice but aims to ensure that fi)ndraising is done professionally and in accordance with good prnctice. Klal-chazon has not received any complaints about ally aspect of its filndraising during 2024. Financial Review During the year of the accounts, Klal-chazon in¢u￿¢d a deficit of £6.373 (2023.. deficit of £45,044 and as a result at 31 December 2024 had negative reserves of £47,680, (2023= deficit £41,307). Klal-chazon is supported by a broad speclrnm of donors from across the community, ranging from grassroots student-level prograrnm¢ participants and alumni to a number of philanthropists and Foundations who partner with our Charity and help encouTage our activities. Most fundraising 18 done through direct relationships with our partners and ihrough effective communicatiot] of the irnportance of our work to the wider audience of our supporters. All of Klal-chazon's expenditure is focused on ereating thc wide range of suc¢e&sful high-quality educaiional courses and w)pular, impactful activiti¢$ that d¢liv¢r our 8tsted charithble objectives. Key Risks and Uncertalntles The Trustees hav¢ assessed the major risks to which the Charity is exposed, and are saitsfied that syst¢ms are in place to mitigate exposure to the major risks. A reduction in donor base could cause cash flow i5sue5; ony delayed receipt of pledged donations orpartieipants income eould also potentially cause cash flow issues. The rnajor risks facing the Charity are reviewed regularly at managemenl meetings. Regular reviews of c&sh flow proje¢tions and budget forecasts are also undertaken, as well a$ a continual drive to negotiate better tenns and rdtes for programme activity expenditure. Reserves The Trnstees have detemiined that Klal-chazon Should endeavour to hold free reserves representing 3 months of operational costs. approximately £60,000. The Trusttts aim to have m¢t this reserve tsrget by the end of 2026. The TNsiees recognise that there needs to be a substantial improvement filljdraisillg to build up Resetves. Page 4 Klsl-Chw¥ou IArnitsd Th¥tees' Report (continued) Publlc B¢Defrt The Tn￿ Acknowledge th¢ duty in Section 17 of the Charities Ad 2011 ￿ hav¢ dut regaTd to the Charity C(xllrni5sion'5 published 8enerdl aRd relevant sub4ector guidanee on public ￿￿tfIt. All 8Ctiviiie5 un&rraken by KltlQha7nn 4r¢ for the public benefit. With aran8eof adlvities offwed for youn8 peopl& thE orgonisation's Operni￿ ij very m￿h 8eored to providing b¢n¢fJl to Ibe ptsbli¢. P8rt1ciponts ￿ene(￿ra8¢d toeonsidertheirmornj fespon51billty ftirthe community4nd the impoitance ofhaying firni fo￿￿tionS and undeTStandin8 of their h¢rith8& This rows will coniinue to becetttral io Kl&lQhazon'5 future plans. Plwtts for Ibe Th¢ Tntstses plan to ¢ontinu¢ deliirtring and developing a wide rang¢ of programm¢s. ev¢nts, trip5 and activities to suppTrrt the obJ￿tIveS of the ChaTity. Tru5tees1 Re5pottslbllltks RtkntknD tts the Th¢ are Tesponsil>le for prepari￿ the TnL%te¢s' Report And the fiDaneial statements in accordattce with applicabk law and Tegulations. Company ffqutres the Thtstees to PT¢pare t]n•n¢W sta*m¢nts for¢a¢h tInRncial perh￿ Undtr thtt law the Truuees ha￿ eka¢d to pYepar¢ the financi81 statements kn 2ccord•nce with United KIr￿d0M Genmlly Att¢wgJ A￿OuntIng Practic¢ (United Kingdom Standards and applicable lav41. UndeT company law the Trystees must not approve the f￿an¢[lI SE￿¢Ments unlets Ihey ure wisr￿J that 8ivc • tyue attd fair vi¢w of th¢ state of affairs of th¢ Company and of the r]rwcial Klivities of the Comp4ny for thji perfthj. In w¢pofiD8ih¢se fmnci•l StAtett￿, the Trustees ar¢ requiyed w: 8eleL¢ suitsble ac4ounting poli¢ies and tkn￿ apply th¢m c4)nsist¢ndy' make judg¢rn¢nts and estimates that 8re reason&ble and pruden follow applicable UK accollntin8 stsJthIL% and the Stat¢m¢nt of R¢￿Mrn¢Dded Prn¢tice. ubjectto any departi]res dis¢l¢)5edand explained in the a¢￿unts. prepare the vAounts on the going co]wem ba$ig unless it is inappropriate to presulne the Charity will continue in oporotion. The Trusttes Ire w¢mslble for keeping adeqwe &¢OYMing that aTe wtllcient to show Jnd explain ihe Company's lE•n￿tiOnS and diselose with reason•ble arturw at ony tim¢ the fiThencial position of the Company enable them ￿ ensure that th¢ financial st8ttments ¢omply with the Companies 2006. Th¢y are also r¢sponsilJk for safewwding the asM6 of th¢ C¢mpary 8nd I fOrtskIn8re￿¥￿lb1e steps for the wevention and dett￿lOn of fraud and irregulariiie This T¢POrt been in a¢¢ordan¢ewith Ihe prov¥sions applicabl¢ to companies, subjeetto the small CthnPaDiO' regim¢ and was hpproved by the Th￿8¢9 on 27 1)ctolxr 2025 and s]￿d on their behalf by: Nei Tr hiff slee Pag¢ 5 Klal-ChxzoD Limited Independent examinevs rq)tsrt to the Trustees of Klal-chazon Limited l Teport to the Chariry Tjustees on my examination of the accounts of the Cornpany for the yeaT ended 31 December 2024. RespoDsibilitie5 and basis of report As the Charlty's Trnstees of the Company (and also its Directors for the purposes of Company law) you are responsible for the preparation of the a¢¢ounts in a¢cordance with the requirements of the CompaT]ie5 Act 2006 ('the 2(X)6 Act.). Having satisfled myself that the aecounts of the CoTnpany are not required to be audited under Part 16 of ihe 2006 Aci and are eligible for independent exaTnination, I report in respect of my examination of your charily's accounts as barried out under section 145 of th¢ Charitie8 Act 2011 ('the 2011 Act,). In carrying out my examinaiion I have followed ihe directions given by the Charity Commission under s¢ction 14515) (b) of the 2011 Act. Independent Examiner's Si8tement Since the Company's gross ineome exceeded £250,000, I confirni that l am qualified to undertake the exatnination because I am a member of the ICAEW, which is OTJe of the listed budies. I have completed my examinatioTr. I confinn that no rnatters have come io my attention in Connection with the examiTJation giving rne cause to believe.. accountin8 re￿rdS w¢re not kept in respeci of the Company as required by stttion 386 of the 2006 Act; or the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements of section 396 of the 21)06 Act other than any requirement that the accounts give a 'trye and fair view which is not a matter considered as part of an independent examination" or 4. the accounts have not been prepared in accordance with the meth¢xls and principles of the Ststemeni of Rewmmended Practice for accounting and r¢porting by ¢haritie8 preparing their accounts in accordance with the Financial Reporting Stsndard applicablo in th¢ UK and Republic of I￿1alld (FRS 1021. I have no concerns and have come across no other matters in conntttion with the examination to which at￿ntion should be drawn in this reFK)rt in grder to enable a proper understsnding of the accounts to be reached. Antbony EptOD B& FCA, CTA, FCIE GoldTrTrins Limited Chartered AteollDtaDts 75 MayRrove Road West HampsteAd London YW6 2EG 27 Ottobtr 2025 Pag¢ 6 Klal-ChazoD Limited Statement of Financia] Activilies (Incorporating Income and Expenditure Account) for the year ended 31 D¢c¢mber 2024 Note 2024 2023 DonatiotLS legacies 467,608 395,393 Incomgfrom ch&rii&ble ftctLMtid.' Participant payments 85.207 141,867 Tot31 income 552,815 537,260 Expenditsre: Donor ￿ndraising Costs 15,034 15,673 Eypenditurg OK chopliablÉ actimiies.. Charitable activities 544,154 566,631 Total expenditure 559,188 582,304 Net (deficitysurplus for the year (6,373) (45,044) Re¢onelllat&on of fuDds: Total funds brought forward {41,307) 3.737 Tot81 fuDd$ carrkd forward (47,680) 141,3071 The Statement of Financia] A¢tiwti&* includes all gains and los￿ recognistd in the y&ir. All income and expenditure derivts frorn rontinuing artiviti¢s. The attached notes forni part of thes¢ a¢¢ounts. Kla1￿b£zOll L4mtt¢d Company Tr￿mber 10832208 BJlanrK She A5 * 31 Deeernber 2024 Note 2024 2023 Current knets 2J.200 1524 C￿h at bftnk and in hand 27,429 9.652 Credltors: Amounts fvllins duc within on¢yeJr Netturreat A55tts IOl*btiit*s) {47.680) (41,307) Net tssets l(15•bffilitiu) (47,680) (41 J07) Unrestricted futwjs Tot•i fvDds (47.680) (41 J07) Forthe fin8nci#lyur¢nd¢d31 De¢¢rnlxr2024.th¢ CoMp￿Y was entitl¢d totxemption from judii und¢r Section 477 of the Comp8rties Aa 2006. and no notice been d¢postted under Section 476. The Trustees 8¢knowledge I￿1r responsibiliue$ for cTsyrin8 that the COThp￿y k¢¢ps aecountilJ8 rttords which Comply with SeaiDn 386 and pTrparin8 accounts whith 8ive 8 true and f¥ir view of the stat¢ of ffairs of th¢ CoMp￿Y it th¢ end of the wiod 4nd for its fffianeial athivitles for th¢ financiul period in ceordance with the requirements of 5eetions 394 and 395 and I￿1¢￿ otherwise comply with the reqllirem¢nts ofthe Companies Act 2006, so far a5 applicabk to the COmp￿y. The a¢counts were approved on 27 October 2025 and siglled on behalf of the boar The a￿￿¢0 notes fornj p3rt of th¢s¢ accounts. Page 8 Klakchazon Limited CoMpa￿Y number 10832208 Statement of Cash Flows As at 31 December 2024 2024 2023 Casb flosvs from operating actiTrities: Net inComin￿{Dutg01ngI resources Decreasel(increase) in debtors IncTr&se/{decrea8e) in creditors BO￿oW]ngS on credit cards (6,373) (18,676) 24,611 {461) (45,0441 19,526 26,720 (1,693) Net ush (used)/ provided by operating 4ctivities (899) {491) Change in cash and cash equivalents in the year Cash alld cash ¢quivalents at th¢ beginning gf the year (899) (491) 619 Total eash aDd cash equivJleDts at the end of tbe year Page 9 KIHI-Ch4zoD Limited Not￿ to the A¢¢gunts- 31 December 2024 Comp#ny illform*tio The principal activity of Klal-chazon Limited is the advancement of Jewish educaiion and culiure. The Company is registered as a ch￿itable Company limited by guarantee (company number.. 10832208, ¢horiry nwnber 1177390). It is incorporated and domiciled in the UK. The address of the registered office is Mountcliff Hous¢, 154 Brent StreeL LA)ndon, NW4 2DR. Accounting Policies Basis of a¢COUDIiDg The financial statements have been prepared ullder the historical cost convention and in accordance with the State]nent of Reconmiended Practice, Accounting and Reporting by Charitie5 {SORP 20151, applicable UK accounting standards including the Financial Reportill8 Standard applicable in the UK at]d Republic of Ireland IFRS 102), and the Companies Act 2006. The Cotnpany meets the definition of a public benefit entity under FRS 102. Assets and liabilities are iTJitially recognised at historical cost or transaetioT] value Ludess otherwise stated in the relevant accounting policy notes. The principal a¢countAng policies adopted iti the preparation of the financial statements are as follows: Fund aceountlng General fvnds ore unrestricted funds which are available for use at the discretion of the Trustees in furtheronce of the general objectives of the Company and which have not been designated for other purposes. Restricted fund5 are fuThds which are to be used in accordance with specifie restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost of raisill8 and administering such funds are charged against the specific fund. Exptnditure Cost of fimdraising activities are those costs incurred in attracting voluntary income. Charitable activities include expenditure associated with the delivery of its activities and include boih the direct costs and support costs relating to these activiiies. Governance costs include those Costs associated with meeting the constitutional and statutory requirements of the Charity and include the independent exomit]ation fees and costs linked to the strategic management of ihe charity. Income Donaiions are accounted for when the Charity becomes entitled to the donation and any conditions for receipt are Inet and the amount is Capable of measurement. Llability re¢ognition Liabilities are recognised as Soon as there is a legal or corjstructive obligation conunitting the Charity to the eXpendi￿r¢. Pag¢ 10 Klapchxzfrll Limited Notes to the Accounts_ 31 De¢etnber 2024 The Charity holds only fmancial assets and financial liabilitie5 of a kind that qualify as basic flnancial instruments. Basic financial it]5trurnents include debtors and credittsts. Debt0￿ and creditots are initially recognised at transaction value and subsequently measured at fair value. Note 10 provides more infornlation on ftnancial instruments where future cash flows are anticipated, with financial assets referring to d¢btor balanees excluding prepaytnents, and financial liabilities referring to atl creditor balance8 excluding deferred incoTne and other t&xation and social security. Government grAnts Grants are accounted for under the performance model as pernjitted by the charity SORP. Coronavirns Job Retention Scheme gTant ineome is therefore recognised on a straight-line basis over the furlough period foi ￿ch relevant employee. Key Judgements aDd estimates It] the application of the Charity's accounting policies. which are described in note 2, Trnstees are required to make judgements, egtimates at)d assumptions about the canying values of assets and liabilities that are not readily apparent from other sources. The estimates aTJd underlying assumptions are based on historical experience and other factors that a￿ considered to be relevant. Aclual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions ro accounting esiimales are recognised in the period in which the estimate is revised if the revision affects only that period or in the peri￿ of the revision and future periods if the revision affects the current and fuwre periods. The Trustees ¢onsid¢r that there are no material judgements in applying accounting policies (Trr key sour¢es of estimation uncertainty. Having remewed the fittan¢ia] position the TnJst¢es ¢on$tder that there are no material uncertainties about the Charity's ability to continu¢ as a goit]g concern and have reasonable expectations that the Charity ha8 acce%s to adequate resources to continue its activities for the foreseeable future. Accordingly, they continve to adopt th¢ going concem basis of accounting in preparing the annual financial statements. Analysis of expenditure on charitable activities 2024 2023 Basis of Charitable allocation activities Support costs Gov¢manc¢ Costs Totsl Totsl Staff costs Programme & trip ¢xp¢ndityT¢ Dirrf¢ General oifi¢e Direct Independent examination fee Direct DiTect 109,161 67,403 176.564 151,461 246,847 246,847 306.143 119,303 107.448 1.440 1.579 119,303 1,440 356,008 186,706 1.440 544.154 566,631 Support costs Governan¢e costs 186,706 1.440 (186.706) (1,440) Total ¢h4rlt¥ble aetlvlty expendlture 544,154 544,154 566,631 All expenditure was unrestricted during the year Pagell K]al-Cbazoll Llmlted Notes to the A¢cowits- 31 December 2024 Analysis of stsff costy trnstee remuneTatioD expenses 2024 2023 Sa]aries and wages Pension costs Socia] security costs 163.129 2,162 139.246 2296 176,563 151,461 No In￿tte Tec¢ived any r¢rnun¢ration, benefits in kind or reimbursement of expenses in the year (2023.. £nill. The aveTage tnonthly number of employees durin8 the year was as follows.. 2024 2023 Education Total rernuneration paid to key management perqonnel was £39,951 {2023- £39,951). All Trustees are includ¢d as key personnel. No employee received salaries at a rate of more than £60,000 per annum. Debtors 2024 2023 Trade debiors Other debtors Sister charity Prepayments 300 900 1,624 900 20,0(X) 21,2(X) 2,524 Creditors: Amounts falling due within one year 2024 2023 CT¢dit ¢ard balances Trode creditors Oth¢r ¢reditOTS Other loans Amount ow¢d to sister Charity Taxation and so¢ial security Accruals and deferred income 3,926 15,257 1.107 17,0(X) 28,114 8,455 4,387 5,489 161 10.000 22,006 666 75,109 50,959 ststement of funds l Jan 2024 Income Expenditure 31 Dec 2024 Unrestrieted Funds General funds {41.307) 552,815 (559,188) 147,680) Unrcstri¢ted funds rep￿￿￿1 fimds availabl¢ lo th¢ TTU$t¢cs for thc g¢n¢ral pu￿08¢$ of the Charity. Page 12 Klal-chazom Llmlted Notes to the Accounts- 31 December 2024 Related Party TransactioTrs Jewish Futures Trust (JFTI is the sole member of Klal-chazon. JFT made donations to Klal- during the year under review to cover the costs of educational support services and overheads of £70.000 (2023.. £82,643). During Éhe yeor Klal-chazon benefited and paid for the provision of central Costs and ovetheads of running a c¢ntral office for Klal-chazon and sister ¢horitics. Amounts ¢harg¢d by JFT for 2024 were £47,933 (2023.. £36,533) and also for ¢ducattonal and pr()gramming support JF'I. contributed services during the y¢ar worth £25,000. JRoots Ltd is a subsidiary of JFT, the sole member of the Company. The Company ran 3 tTiPS (2023= 4 tr2psI using the serrice5 of JRoots Ltd during the year which meant that JRoots Ltd incurrednet costs onbehalf of the Company to the value of £32,209 (2023.. £25.3681. The net costs of these trips were paid to JRoots Ltd. At the year end the Company owed JRoots £24,757 {2023.' £19,548). During the year, JRoots Ltd provided a gra￿t of £35,000 to subsidise educational trips (2023 £20,000). During the year the Trustees made donations to the charity of£l,56412023: £1,200). 10 Financial In5trMtneDt 31 Dec 2024 31 tk¢ 2023 Finan¢ial assets me4sur¢d at arnortistd cost 27,429 9,652 Financial liabilities measured at amortised cost 75.109 43,959 Financial absets measured at amortised cost include trade dcbtors. amount OW￿ by group undertakin8 other debtors and cash equivalents. Financial liabilities measured at amortised cost compriK trade creditor& other creditors and accrnals excluding deferred inco]ne. I I ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY The Company is a IOO/D subsidiary of Jewish Futures Trust Limited, a limited liability company. registered number 07884678 and a registered charity number 1151006. Jewish Fuwres Trt￿t is involved in public education and cultural activities. The TNstees regard Jewish Futures Trust Limited as the immediate and ultimate paretjt company. Jewish Futures Trnst prepare consolidated amiual accounts, including the results of the Company. A copy of the consolidated accounts can be obtained from the JFT head oifice at moun￿1]ff House, 154 Brent Street, London NW4 2DR.