Charfty number. 1188960 MAKOR HAYIM UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
MAKOR HAYIM CONTENTS Page R•f•r•n¢¢ •nd admlnl$tratlv• d•talls of the charity, Its Trustees arid adviJern Tru•teo8' rnport Tru•ts•¥' re•pon*ibllltl•s ¥tatem•nt Ind•p•ndont •xamlnorf• r•port stst•m•nt of flnanclal aetlvitl•• B•l•n¢• •h••t Not•• to th• fln4n¢l•l Jtst•monts 10.17
MAKOR HAYIM REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 202S Trust•e* Martin Dives, Chair Iresigned 1 January 20251 Nalalie Clingman. Chair Rachel Diarnond-Hunler (resigned 30 Septèmber 20251 Dr Stacy Lee H8ckner Oaniel Mackinlosh Iresigned 7 March 20251 Neil Benjarnin Nerva Mar¢0 Schneebalg (rèsigned 31 May 20251 Daniel Wernberg Iresigned 30 September 20251 Charfty r•gl¥tsr•d umbor 1 t88960 Prlnclpal offie& 56 Milverton Road London NW6 7AP A¢¢ountsnts Nyman Lib50n Paul LLP Chartered Accountant$ 124 Finchley Road London NW3 5JS P8ge 1
MAKOR HAYIM TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustee5 present their annual raport togathar with the financial statements of Makor Hayirn for the year ended 31 December 2025. These finan¢i81 $18temonls represent the final accounts of the charty. prepared in advance ol its anticipated dissolution. Objectivè nd a¢tlvltl•$ a. Pollcl•8 and obj•ctivo1 Advancement of Judaism in Ihe north wesl Londtsn area by Ihg provision and maintenance of facilities for public worship and th8 provision ol classes in Hebrew and religion. To advance such olhtr Charitable purposes as the Iruslees may determine and as are r8cogni58d by the laws of England and Wales. In setting ot)jectiv&s and planning lor aclivili8S. the Trustees have given due consideration lo general guidance published by the Charlty Commfssion r&laling to public b&nefrt, including the guidance 'Publl¢ bènefit.. runnlng * charity IPB21'. A¢hl•v•monts •nd p•rfomi•n¢• •. R•vl•w ol actlvltl•s 1st Jan311t O•c 2025 2025 has b8en an 8xlr&mely rewarding. yel aculgty challenging. year for Makor Hayim. We have been blessed with the visionary Spiritual leadership ol Sludenl Rabbi Yael Tischler, who bègan her fourth-year training pla¢gmenl with us in 2024. A longstanding community rnember, SR Yael brought phenomenal energy, Inslghl and entrepreneurship lo thè Community and was enthusiastically welcomed back lor her fifth-year placement. Highlights of the year included an inlergeneralional Passover event combining children's craft aclivrttes and adult learning th a bring-and-share cornmunity meal, attended by over 40 people including numerous firsl-lime guests. a Chanukah tea lealuring a musi1 play written by one ol our members., and a High Holy Day pro9ramme whose attendance exceeded expectations, lak1ng our tradition of moving layled serviees, powerful sermons from a rangg of voices, and $tirnulaling parallel 8vgnls to new h8ight5. This year also Saw an explosion of Children's programming, with the Inslilulion of Challah Time, a highly successful and much-loved monthly programme for our youngest mernbers lealuring crafts. games. education and Challah bakin9', Pafashah Parade. a monthly parallel service lor children." and the long.awailed publication ol our Kulanu siddur lan inlergeneralional prayer bookl. the r8$utt of 8 year of dedicated work by SR Ya@I, Mi¢hal Ish-Horowicz, Amila Kolecha and volunteers. The cost of nearly £1.000 was funded by ¥ gfanl from NLPS Trust. lor which we are most appreciatlV8. Our young members arè a Constant source of joy and an amazing asset which many synagogues would envy. but a family-hea demographic also brings challenges.. a lack ol capacity lor volunteering among their parents, many of whom used lo be th6 volunteers who drove thè community forward, a fall In attendance at adult-locusèd events affe¢ling our ability lo recruit a diver511y of mernbers, and a declining nel membership as families move away through upsizing or are le58 able lo travel long distances lo attend. fo addre$$ these difficultie5. recruilmenl initiatives aimed al young advlts were proposed, leading to five new joiners in this demographic in 2025," and thè reinslalement Of rnonthly adult educalioFI se5510ns led by SR Yael. Meanwhile. the neW- conslituled Children'5 Formation Team achieved an unprecedented level of parental buy-in. making Ihe new children's programming a great su¢ces$. 2025 was also a year ol Ir8nsrtion" 1st January $8w the resignation ol our long-serving Chair of Trustee$. Martin Dives, wiltt another four trustees Stepping down over the following rnonths. This led to a new operational modol.. Transitional Leadership Tèam ITLTI comprising staff. clergy. IIu5tees and key volunteer5 to prowde renewed operational capa¢ity. expertise and diversity ol vision. The learn was tasked wrth developing a sustainable operational structure and long-lerm strategy, a process that would continue into 2026 until the ults.male deasion was madè to close th& charity. Page 2
MAKOR HAYIM TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Fln•n¢lal r•vlow . Golng concern In 2025. Makor Hayim faced three key ¢hall8ngès lo 11$ viability. Firstly, a fall in voluntary donations by generous members led to an unsuytainable operating deficit. This wa5 addressed through a major fundraising c8mp8ign beginning in July 2025 which was proj¢cl¢d lo èliminate the dèficit had il completed. Secondly, five out of eight trustees resigned during 2025. whom we were unable lo replace, ie$ln¢ting the capacity and collective expertise ol the Irustee board (who had hitherto doubled as the executive decision-making body) Finally. a 25Q/ts fall in membership In 202>28 meant that critical voluntary rolas were lèft unfill8d. It also exacerbated the finanual shortfall due lo reduced rnember5hip fee income. Beginnin9 in November 2025. the TLT launchgd a consultalion with the aim of a5ses5ing support among members lor more sustainable w8ys Of fulfilling Makor Hayim's lun¢tion$ and recruiting members inlo unfilled and inlerirn.filled trustee and volunteer roles. This consultation yielded an incredible amount ol goodwill and willingness to step up to key responsibilities. However, even this was insufficient to ensur& all crucial roles were sustainably filled. Al the Same time, our membership numbers ¢onlinuod to fall. leading to event ¢an¢ellalions due to poor attendance. For these reasons, in March 2026 the Tru$lee board aided by the TLT conduded that eontinuing as an independent enlrty was sadly impossible. We rtssolvèd lo urgently explore partnerships or Mergers with other synagogues, but that concurrently preparing lor closure was the only responsible course ol action. Movgm9nt lor Progressive Judaism and community m6mbors were all inform&d in March. Makor Hayim 15 expedèd lo closè by 31st May 2026. Al the lime ol writing, partnership lalks with the Liberal Jewish Synagogue ILJSI are encouraglng and il ss anticipated that some of Makor H8yim's functions will be absorbed by LJS and we hope many of our members will join LJS. so, we can relain some of our unique slWe and member-driv&n approach through a distinct programme ol events. Under this approach, Makor Haw'm's remaining assets upon dosure will be transferred lo LJS, with any Cash ring.fenced and restricted for Makor Hayim's activities. b. R•¥?rv•$ poll¢y The charity's rgserves policy is lo hold al least 8 months, operating expenses in reserves to ensur8 that in the event ol any unforeseen circumstances, it has sufficienl financial resources to continue. This was not a¢hieved In 2025 nor is it projected lo be achieved in 2026. Following the decision 1¢ ¢losg th8 charity after the year end, the reserves policy is no lonoer considered lo be relevant to the final activities, Cash Reserves reserve5 held al 3181 December 2025 were £33.559. At 6 May 2026. cash at bank was £28.665. c. Prfnclpal fundlng Principal sourcos of funds are mernber5 lees and donations. d. Mat•rlal Investments polS¢y and prln¢lp•l rl$k$ The principal risk facing the charity would be a failure lo raise sufficient funds lo cover the operating costs. The Trustees have assessed this risk and, as descnbÉd abova. have determined Makor Hayim is unablo to mitigate this and therefore will close the charity by or shortly after 31 May 2026. The Truslees have made careful provision for all known and Conlingenl ¢osls and after taking into accounl the cash rèsèrves and further incorne receivable before closure, have delerrnined Makor Hawm will bè able lo pay all ol 115 debts pntsr to closure, with the surplus being donated to The Liberal Jewish Synagogue (Charity no 11592921. Page 3
MAKOR HAYIM TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 structure, governance and m*n#g•ment . Constltutlon Makor Hayim is consliluled as a Charitable Incorporated 0r9anisation ICIOI. charity number 1188960. b. Method• of appolntmont or •l•¢tlon of Tru8to¢s The management of the charity 15 the responsibilrty ol the Trustees who are appointed at the annual genèral meeting ol members. c. Managementand JLgff The Trustees express their deep appreciation lor the exceptional eonlribulions made by Sludenl Rabbi Yagl Tischler, Amila Kolecha our Community Op¥ralions Manager and the Transitional Leadership Tearn of Debbie Danon, Michal Ish-Horowicz. Sam Glatman and Martin Div&s. Approvod by order of the members of the board of and Signed on their behaLf by.. Tiuslo85 on Natsll• Cllngman (Chair ol TnJ5teesl Page 4
MAKOR HAYIM STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 310ECEMBER 2025 The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance wrth applicable law and United lfj'ngdom Accounting Standards Iunited Kingdom Ggnerally Apted Accounting Pra¢ti¢o1. The law applic8ble lo Charities in England & Wales requires the Trustees lo prepare financial statements lor each financial which give a true and fair view ol the slate of affairs of the charity and ol ils incoming resources and application ol resources. induding its in¢ome and expenditure, lor that period. In preparing Ih&se financial stalernenls. the Tru51ees are required lo.. select suitable accounting polie$ and then apply them consistently.. observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed. subjgd lo any mal8rial departures disclosed and explained in the financial slalements., prepare the financial statements on the going conc&rn basi5 unless it is inapproprialg to presume that the charity will continue in business. The Truslegs are responsible for keeping adequate accounllng records that are sufficient lo show and explaln Ihe charill5 transactions and disclose with reasonable accuracy at any time the financial position ol the charily and enable thèm lo gn$urg that tho financial stat8m•nl$ ¢omply with Ihg Charitiès Act 2011, the Charity IAc¢ounls and Reports) Regulations 2006 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for thè prevention and detection ol fraud and other irregularities. Approved by order of ihg nigmbers of Ihg board and $ign&d on ils behalf by.. of Tru$to96 on N&tsll• Cllngm•n Ichair ol Trusleesl Page 5
MAKOR HAYIM INDEPENDENT EXMIINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Indèp•nd•nt Examln•rfs Report to th• Trust••J of hlakor Hayim I'the charity'l I report lo tha charity Trustees on my exarnination of the accounts of the ch8rily lor the year ended 31 December 2025. RMpon•lbllltl•$ and Ba•1¥ of Roport As the Trustees of the charity you are r&5ponsible lor the preparation of the accounts in accordance with the roquiremants of the Charities Act 20111'the 2011 Act'l. I rèport in rèspect of my exarnination ol Ihe charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have lollowod the applicabl6 Directions given by the Charity Commission under Section 14515llbl of the 2011 Act. Indep•nd•nt Examlnerf• SLgt•m•nt Your att8nlion is drawn lo the fact that the charity has prepared the accounts in a¢IdaNce with Accounting and Reporting by Charities." Slalemenl of Raeommended Practice applicable to charities preparing their account8 in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 in preference to the Accounting and Reporting by Charilies.. Slalemenl of Recommended Pra¢tiee issued on 1 April 2005 which is referred to in the extant regulations bul has been withdrawn. l undgrsland that thi$ has b89n don8 in order lor the antS to provide 8 true and fair wew in accordance with the Generally Acceple¢J Accounting Pracllce effective lor reporting poriods beginning on or aftgr 1 January 2015. I have completed my examination. l eonfim Ihal no matters, other than those fully detailed below, have come lo rny attention in connection with the examination giving me reasonable cause to believe that in any material resp9cI'. a¢¢ounling records were not kept In rgspecl of the charty as required by Section 130 of thg 2011 Acl,. or Ihg 8ccounl$ do not auord with those records., or the accounts do not comply wilh the applicable requirernenls concerning the form and content of accounts set out in thé Charities (Awounls and Reports) Regul81ion$ 2008 other than any rèquirement Ihal the ac¢ounls give a 'lrue and lair, wew which is not a matter considered as part tsf an independent exarninalion. l Confirm that there are no other matters lo which your attention Should be drgwn lo enable a proper under$18nding ol the accounts lo be reached. Page 6
MAKOR HAYIM INDEPENDENT ELIMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2026 Emph••l¥ ol Matt•r I draw attention to Note 2.2 of the financial slaternenls. which explains Ih8t the charity has resolved to proceed with an orderfy closure after the reporting period, and that the financial slalemenls havo therefore not boen prepared on a going concem basis. My opinon is not modified in respect of this maller. Thls report is mad9 solely lo the charity's Trustg9s, a$ a body. in accordance with Part 4 of the Charities lACntS and Reports) Regulations 2008. My work has bèen undertaken so that I might slate to the charity's TTUStees those matters l am required lo slate to them in an independent exarninerf5 report and lor no other purpose. To the fullest exlenl permilled by law. I do not accept or 8ssuma responsibility to anyone other than the charity and the charity's Trustees as a body. lor my work or for this report. Signèd.. Dated,, 3 August 2026 Andrew Thomas IACAI Nym8n Llb8on Paul LLP Chartered Accountants 124 Finchley Road London NVV3 5JS Page 7
MAKOR HAYIM STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestricted funds 202S Total funds 2025 Total lund5 2024 Note In¢om• from: Donations and lega¢igS Investments 94.407 462 94,407 100,359 477 Total Incoma 94,869 94,869 100.836 Exp•ndltur• on: Charitable a¢livilios 98,116 98,116 114,621 Totsl •xpondlturo 98,116 98,116 114.621 N•t movoment In lund• 13,2471 13,24n 113,7851 R•conclllatlon of fund•: Total funds brought forward Net m0ment in fund5 36.358 13,2471 36,358 13,24n 50,143 113,7851 Total fund• carrtgd fopxard 33,111 33,111 36,358 The Slalemenl ol Fin8ncial Activiti8$ includes all gains and losses rgcognisod in Ihe year. The noles on pages 10 10 17 form part of these financial stalemenls. Page 8
hlAKOR HAYIM BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Note Currnnt a¥8•t8 Debtors Cash at bank and ift hand 3,097 33.560 3.093 50.011 36,657 53.104 Curr•nt 1lab1ll•I Creditors.. amounts falling due within one year 10 13,5481 118.7461 Not ¢urMnt *si•ts 33.111 36,358 Total n•t a•8•ts 33.111 36.358 Charfty funds R8Stricted funds Unrestrided fund5 33,111 36.358 Totsl fund• 33,111 36.358 The financial $tatemènls wero 8pproved and authorised lor iSSLte by the TNsl&e$ on and signed on thèir bghalf by.. Natall• Cllngman (Chair of Trusleesl The not9s on pages 10 to 17 form part ol these financial Slaterngnts. Page 9
MAKOR HAYIM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Gen•rnl information Makor Hayim is a Charitable incorporaled organisation registered in England and Wales. The fegisterèd olfi¢e is 56 Milverton Road, London. NW6 7AP, The charity is governed by a constitution which includes dissolution provisions, and the Iruslees intend lo apply these in lull on winding up, including the transfer of remaining assets lo a charity with similar charitable purp03e5. Accountlng policifr 2.1 8a¥l¥ ol prnparatlon ol flnan¢lal •tst•m•nts The finanaal statemenls have been prepared in accordancè with the Charities SORP IFRS 1021 Accounting and Reporting by Chariligs." Slalernent ol Recomrnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 (effective 1 January 20191, the Financial Rèporting Standard applicable in the UK and Republi¢ ol Ir8land IFRS 1021 and the Chanlies Act 2011. The financial statements have been prepared lo give a 'lrue and faiv vigw and hav8 departgd from the Charitios IAccounls and Reports) Regulation5 2008 only 1¢ the extenl roquired lo provide 8 'lrue ¥nd fair, vittw. This departure has involved followin9 tho Charities SORP IFRS 1021 published in October 2019 rather than thè AoUntIng 8nd Reporting by Chari118s'. Ststemgnl ol Re¢omm&nded Practice effective from 1 April 2005 which has since been withdrawn. Makor Hayim me818 Ihe definition ol 8 public benefit entity undor FRS 102. Assets and liabililias are initially recognised al hi51ori¢al cost or transaction value unle$8 Othe18$ $laled in the rglgvanl accounting policy. 2.2 Golng concern The truslègs hav9 dètermined thal the charlly Is no longer a going concèrn due to sustained income and membership declines and insufficient Iruslee Capacity. In Mar¢h 2026, thè Iruslee$ r&solved lo proceed with an ordedy c105ure, with the charity expected lo cease operations by 31 May 2026. and therefore Ihe financial stalemenls havo accordingly not been prepared on a going concern bas1S. Asse15 and liabilities are staled al the amounts expe¢ted lo be realised or settled during Closure, with any rernaining assets transferred to a charily with similar purposes in accordance with the governing dowmenl. Page 10
MAKOR HAYIM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng poli¢l•• l¢ontinugdl 2.3 In¢om• All income is recogni$ed once the ¢harity has enlillernenl lo the income. il is probable that tha in¢ome will be receivèd and th8 amount of incom8 reGoivablo can b$ measured reliably. Grants are included In the statement ol financial activitie5 on a receivable basis. The balancè ol Income received for specific purposes but not gxpènd?d during the period is shown in the relevant funds on the balance sh*&t. Where income is received In advance of enlitlernenl ol receipt. ils recognition is d¥l¥rred and induded in creditors as deferred Income. Where entitlement occurs bèlore Income is received. the incoma 16 accrued. Income lax recoverable in relation lo donations received under Gift Aid or deeds af coven8nl 18 recognised al tho lime ol the donation. Income lax recover8blg in relation lo investment Income 18 ie¢ogni8ed al thè limtr the invèslmenl Income is raceivablo. 2.4 Exp•ndlturn Expenditure 15 recognised once there is a legal or conslruclive obligation to transfèr •conomi¢ benefit to a third party. il Is probable that a transfer of economic bgn&fils will be required in settlement and Ihe amount ol Ihe obli9alion Can be rHe8sured reliably. Expenditure is classified by activity. The costs ol each activity are made up of the tolal ol direct cosls and shared costs. including support costs involved in undertaking each activity. Expenditure on charitable a¢tivities is incurred on directly undertaking Ihe activitie5 which furth8r the charity's objectiVfj5. a$ w911 a3 any assoaaled support C05t$. 2.5 Intsreit r•¢•lvabl? Inl•r•$l on funds held on deposit is included when receivable and the amount ean be mèasured reliably by the Charity". th$ is normally upon notification ol the Inte$1 paid or payable by the institution with whorn the funds are d8POSlted. 2.6 Dèbtorn Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are v81ued al the amount prepaid nel of any trade {Jisunls due. 2.7 Cash at bank and In hand Cash al bank and in hand indudes cash and short-lerm highly liquid inv8slmènls with a short maturity of three months or lèss trom thè datè ol acquisition OT opening ol the deposit or similar account. 2.8 Llablllt508 and provislon5 Liabilrties are recognised when there is an obligation at Ihe balance sheet dale as a result of a past evenl, it is probable that a transfer ol èconomic benefit will be required in settlement. and the amount of thè settlement ¢an be estimatèd reliably. Liabilities are re¢ognised al the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments lor the goods or service5 11 musl proiride. Page 11
MAKOR HAYIM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OEGEMBER 2025 A¢¢ourttlng pollcSè5 Icontlnuedl 2.9 Fln4n¢lal In•tNmgnts The charity only has financial asse15 and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognisèd al transaction value and subsequently measured al their seltlèmènl valuè with the exception of bank loan5 which are subsequontly measured at arnort15ed cogt usin9 the effective Int&re$t method. 2.10 P0n$lon• The charity operal8s a defined contribution pan$ion scheme and the Pension charge represents the amounts payable by Ihe charity lo the fund In respect ol the year. 2.11 Fund a¢¢ountlng General lunds are unreslricled funds which are available for use al the digcrelion ol the Trustees in furtherance of the 9grFeral objectives of the charity and which have not been designated for other purposes. D&s5gnaled funds compri98 unrestricted funds Ihal have been sel aside by the Trustees for particular purposes. The aim anty u¥& ol oa¢h de$ignat8d fund 1$ sot out in the notey lo the financial Statements. Investment income, gains and lo$se$ are allocat¢d lo the appropriate fund. In¢om• from donatlon$ And l•gacl•8 Unrestricted funds 2025 Total funds 2025 Total lunds 2024 Donalions Grants Other incoming resources 80,579 13,328 500 80,579 13,328 500 84,814 15.277 268 94,407 94,407 1 QO.359 Page 12
MAKOR HAYIM NOTES TO THE FINANCIAL STATEMENTS FOR THE Y&4R ENDED 31 DECEMBER 2025 Inv•$tmont Incomo Unreslricled funds 2025 Total funds 2025 Total lunds 2024 Interest incom8 477 Analy818 of expgndlturg by •ctlvltl•* Actlvllies undertaken directly 2025 Support costs 2025 Total fund5 2025 Total funds 2024 Synagogue optralions 78,737 19,379 98,116 114.621 Analy•l• of dlr•¢t ¢o•ts Actiwlies undertaken directly 2025 Total funds 2025 Total funds 2024 Staff costs RJ Assessment High Holy Day Rabbi expenses General expènses JJBS fees Staff expenses Rent 46,413 14,3621 3,785 46.413 14.3621 3.785 51,745 2,149 4.433 2,408 4,737 5,859 3,500 13,520 743 5.488 12.954 13.716 743 5.488 12.9S4 13.716 78.737 78 737 88,351 Total 2024 88,351 88,351 Page 13
MAKOR HAYIM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2025 Indep•nd8nt •xamln•rf$ Y•muneratlon The independent examinerfs remunèration amounts lo an Independent examiner lee of £1.45012024 £1.4001 Staff ¢o¥ts 2025 2024 Vvages and salarie5 Social security costs Contribution to defined contribution pension schemes 38.930 4.494 3.306 44,512 1,138 6,389 48.730 S2,039 The average nurnber ol persons ernployed by the charrty during the year was a5 follows.. 2025 No. 2024 No. Employees No ernploe received rèmvneralion amounting to more than £60.000 in either year. Tru$t•••' remun•ratlon and exp•n¥•8 During th8 year, no Trustegs rg¢&iv&d any remuneration or other bengfl1s12024. £NILI. During the yoar andgd 31 Dgcember 2025, no Truste9 expenses have been incurred12024- £NIL}. D•btor• 2025 2024 Due wlthln on• yo•r Prépayments and accrued income 3,097 3,093 3,097 3.093 Pa9e 14
MAKOR HAYIM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2025 10. Creditors.. Amounts falling du? within ong yr 2025 2024 Tradg credllors Other taxation and soaal $8curity Pensions payable Other creditors Awu81s and deferred income 10 1,456 1,3CkS 1,398 408 2,130 11,470 1,730 3.S46 16,746 11. Ststsmont olfund• ststom•nt of lunds- curr•nt y••r Balanco at 31 D&cember 2025 Balance al 1 January 2025 Incorng Expenditure Unr••tdctsd funds General Funds - all funds 36,358 94.869 198,1161 33,111 Statement of fundj . prlor year Balancg 81 31 Dec8mber 2024 Ba13n¢o al 1 January 2024 Income Expendituro Unre8trf¢t•d funds General Fund$- all funds 50.143 100,838 1114,6211 36.358 Page 15
MAKOR HAYIM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 12. Analys1¥ of ngt a$$•ts b•tsM•n funds Analy•l$ of not assgts bets¥e•n fundi - curr•nt y•ar UnTeslricled funds 2025 Total lund5 2025 Current as$et$ Creditors due within one year 36,657 13,5461 36.857 13,5461 Total 33,111 33.111 Analy•l• of n•t a¥••t• befv4o•n fund$ - prfor y•ar Unre$tri¢tèd funds 2024 Total funds 2024 Current assets Creditors dts& within ono year 53.104 116.7461 53.104 116,7461 Totsl 36.358 36,358 13. P•n$lon commltm•nts The ¢harity operates a defined conlrfbulion pension scheme. Th9 assets of the scheme are hold separately from those of the charity in an independently administered fund, p?nsion cost charge represènts contributions payablè by the charity to the ILSnd and amounted lo £3.30612024' £6.3891. £408 12024.. £3841 was payable lo Ih? funt¥ 81 ltte b8lance sheet dale and has been included In creditors. 14. R•14t•d party tran•a¢tlon$ During the year, unrestricted donations of £1.00012024.' £12,4501 in aggregate were received Irorn the trusteès. Thèrè wèi8 no furthèr relatèd party transactions rÈquirifTrg disclosure as at the year ènd. Page 18
MAKOR HAYIM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 202S 15. Post balance 8h8•t evgnts After the reporting dale. the Trustees resolved lo proceed WI an orderfy closure of the charity. having ¢on¢luded that continuing as an independenl entity was no longer viable. The charity is expgctod lo cease operations by 31 May 2026, with any remaining asstrts Iransferr&d lo anolhor eharity with similar charitable purposes. in accordance with the governing document. In addition, after the year end Iho charity entered into a settlemtrnl agreomènl with * fomer employee. under which a £5,000 net payrnent was rnade in respect of termination of employment. This payment will be settlad from existing cash resources and does not affect the Slalemenl of Finanoal Posrttot) as al 31 Dècambèr 2025. There were no lurther post-balancg Shgel 8V8nls lo be disclosed al th8 y•ar gnd. Page 17